Contribute to Coastal Habitat and the Jersey Shore’s future by planning for a special kind of gift.
Although cash contributions to Coastal Habitat are always appreciated, there are other creative and flexible options that can benefit you as well as the organization. You can help ensure Coastal Habitat and the shore area’s future by creating a trust while you are living or by including the organization in your will.
Illiquid asset gifts, such as real estate and appreciated securities are an excellent way of funding many of these gifts, often unlocking greater income for the organization while eliminating, or at least reducing, capital gains tax for you. (Talk with your financial planner about your specific situation.)
Coastal Habitat is thankful to work to ensure a planned gift meets your vision, including naming rights, the funding of specific programs, etc.
Donors who have remembered Coastal Habitat in their wills have benefited the organization in many long-term ways, helping to build and repair homes and public spaces as well as educate homeowners. A bequest is one of the most simple ways to provide for the organization’s future and can take many forms. You may arrange for Coastal Habitat to receive:
- a specific dollar amount
- specified illiquid assets, such as securities, real estate, art, etc.
- all or a percentage of the remainder of your estate after all other obligations have been met (a residuary bequest)
You may make a bequest to the organization by preparing a new will or adding a codicil to your present will. An outright bequest to Coastal Habitat is fully tax-deductible for estate-tax purposes.
How to Make a Bequest: Useful Language
The most useful bequest is an unrestricted bequest for the general purposes of the organization. This permits Coastal Habitat to use your gift wherever it is most needed at the time. Suggested language for making an unrestricted bequest:
"I give, devise and bequeath [the sum of ____ dollars], [all or ____ percent of the rest, remainder and residue of my estate of every kind and description (including lapsed legacies and devises)] to Coastal Habitat for Humanity, 200 Route 71, Suite 3, Spring Lake Heights, NJ 07762, for its general corporate purposes."
Suggested language for a specific purpose:
"I give, devise and bequeath [the sum of ____ dollars], [all or ____ percent of the rest, remainder and residue of my estate of every kind and description (including lapsed legacies and devises)] to Coastal Habitat for Humanity, 200 Route 71, Suite 3, Spring Lake Heights, NJ 07762, to create an endowment fund which, subject to the organization’s endowment spending rule, is to be used for the following purpose [state the purpose]."
Important Note: If you do specify a use for your bequest, the following language will ensure that your gift will always remain productive: "If at any time in the judgment of the Trustees of Coastal Habitat for Humanity the designated use of this bequest is no longer practicable or appropriate, then the Trustees shall use the bequest to further the general purposes of the organization, giving consideration, where possible, to my special interest as described above."
For more information about how these gifts may work for you and your estate, please call the Executive Director at 732-974-2422, ext. 7.