For Financial Professionals
Thank you for helping your client make a gift!
This page should have the information to answer many of your questions. If not, please feel free to call Inland Foundation Director Marc Pitman directly at (207) 861-3377 or email him at mpitman@emh.org.
Inland Foundation, Inland Hospital, and Lakewood are all 501(c) (3) nonprofits. Here are a few ways donors have supported the well being of our community:
Gifts of Appreciated Securities
To make a gift of stock to the Inland Foundation, you'll need to give the following information to your broker:
Firm: A. G. Edwards
Contact: Roger Knauff, 222 Kennedy Memorial Drive, Waterville, ME 04901
DTC # 0-201
For the benefit of: The Inland Foundation Account #35477059
Inland Foundation Federal ID # 01-0542905
A blank Letter of Authorization is available for your use.
Gifts by Will or Bequest
Bequests large and small have contributed to the good health of Inland and Lakewood over the years. By including Inland or Lakewood in their will, many donors find they are able to make a much larger gift than they'd thought possible.
"____ percent of all the rest, residue, and remainder of my estate, both real and personal, wherever situated, I give, devise, and bequeath to the Inland Foundation, a Maine nonprofit corporation having its principal administrative offices at 200 Kennedy Memorial Drive, Waterville, Maine 04901, to be used for the general purposes of [Inland Foundation, Inland Hospital, or Lakewood Continuing Care Center or indicate a specific program or purpose, agreed to in advance by the Inland Foundation]."
Gifts of Closely Held Stock
Gifts of closely held stock can help donors as wells as charities. The Inland Foundation must approve gifts of closely held stock.
Gifts of Real Estate
The Kennedy Memorial Drive campuses of both Inland and Lakewood are the result of a gift of real estate in the early 1960's. The donor gave the entire parcel of land but left some of it in trust so she could stay on it until she passed away.
Gifts can consist of almost any type of property: personal or recreational residence, farm or ranch, commercial building, subdivision lots, undeveloped property or a fractional interest in property. Assets may be given outright and serve as the corpus of a trust arrangement or, in the case of a personal residence, given with the right of lifetime tenancy by donor and/or spouse. The benefits to the donor usually include an immediate partial charitable deduction as well as bypassing capital gains tax.
The Inland Foundation must approve gifts of real estate.
Gifts of Life Insurance
Using life insurance to make a major gift is an option for donors who no longer need policies they purchased years ago. Your client simply assigns your policies irrevocably to the Inland Foundation on behalf of the Foundation, the Hospital, or Lakewood.
In most cases, you would realize an immediate tax deduction in the amount of the policy's current value. The proceeds would not be subject to estate taxes and the premiums would be deductible for income tax purposes in the years thereafter, in which they are paid.
The Inland Foundation must approve gifts of life insurance.
Charitable Remainder Unitrusts and Annuity Trusts (CRUTs & CRATs)
Charitable trusts are particularly beneficial if your clients hold highly appreciated low-yield investments from which you would like to earn a higher return. A tax deduction should be allowed at the time the charitable trust is created. Call Marc A. Pitman, Director of the Inland Foundation to find out how Inland Foundation can help you set up a charitable trust. Marc’s direct line is (207) 861-3377.
Charitable Lead Trusts
Your clients can make a gift of current income by putting property in a simple trust. You would specify the percentage of the total annual value that Inland or Lakewood is to receive. At the end of a designated period, the property is returned to you or to the non-charitable beneficiaries you have named. Such trusts may allow immediate tax advantages or may reduce the gift tax when the assets are passed to children or grandchildren at the expiration of the trust.
Gifts by Cash, Credit Cards, and EFTs
The simplest way to make your clients can make a gift is to contribute cash. Checks should be made payable to the Inland Foundation with either "Inland Hospital," "Inland Foundation," or "Lakewood" in the memo.
An increasing number of donors are charging their gifts to Discover, Visa, or MasterCard credit cards. You can do that now by going clicking here.
If they’d like the convenience of making a monthly donation without the hassle of remembering to write a check, we can help you set up an electronic funds transfer (EFT) from your checking or savings account. A blank Direct Payment Authorization Form is available for your use.
Corporate Matching Gifts
Some corporations encourage employees to make charitable contributions by matching their gifts dollar-for-dollar. Sometimes these companies even double or triply your client’s gift.
To see a list of companies with matching gift programs, click here.
This is intended to be a helpful guide to the variety of ways to make a gift Inland or Lakewood. This is not intended as tax advice. Tax laws differ for federal and state purposes, from state to state, and are always subject to change. Each donor's tax situation is unique.
As your client’s tax advisor, we trust you to determine the tax consequences of any gift they wish to make.