There are several significant benefits that can result from gifts of securities. With certain limitations, you can deduct the full fair market value of long-term appreciated securities—that is, securities you have owned for more than one year and that have increased in value. Thus, you can give away appreciated property and usually avoid the tax on the gain. Here’s how: If your broker or bank holds your securities, call or write your broker and let them know that you want to make a gift of stock to The Land Conservancy of McHenry County (Tax ID #36-3727476). Your broker will want to know the name of the stock(s) and the number of shares you are contributing. After you have notified your broker, please call us at (815) 337-9502. We will need to know the name and telephone number of your broker, the name of the stock(s) and number of shares your are contributing. If requesting the transfer in writing, please mail a copy of the transfer request letter to the The Land Conservancy of McHenry County, PO Box 352, Woodstock, IL 60098. Please remember that you don’t want to tell your broker to sell the stock and forward the proceeds to TLC. This will jeopardize your tax savings benefits. Stock should be transferred to The Land Conservancy of McHenry County’s account. TLC will send you an acknowledgement letter with the dollar amount of your gift based on the date the transfer is completed. Gift value is based on the average of the stock’s high and low price on the day of transfer. TLC has an account with Edward Jones. When you call, we will give you the account information so that your broker can make the transfer.
A will is the easiest and most effective means to ensure that you fully provide for your family and that your assets are distributed as you wish. Gifts by will, or bequests, both large and small, are very important to The Land Conservancy of McHenry County. A bequest through your will provides much needed support for land preservation in McHenry County. Here is a story from two TLC members who chose to leave the organization in their wills. You may bequeath a gift to TLC in the form of a dollar amount, a specific property, a percentage of your estate, or what remains after your loved ones have been provided for. Bequests to The Land Conservancy of McHenry County are entirely free from federal estate tax, and there is no limit on the amount you can leave to TLC in your will. 100% of all donations (in dollars) to TLC support land preservation in McHenry County. To make a bequest to TLC, the following language may be helpful to your lawyer: “I give, devise, and bequest to The Land Conservancy of McHenry County, a nonprofit 501(c)(3) corporation, with a mailing address of PO Box 352, Woodstock, IL 60098, and a Tax Identification # of 36-3727476, the sum of $_____ (or “the rest, residue and remainder of my estate”) to be used for land preservation.” You may wish to dedicate your bequest to one or more of TLC’s dedicated funds:
To make an IRA charitable rollover gift, simply contact your IRA administrator and request a direct distribution to: The Land Conservancy of McHenry County TIN: 36-3727476 Attn: Lisa Haderlein PO Box 352, Woodstock, IL 60098
In 2015 Congress enacted a powerful conservation measure: The Enhanced Federal Tax Incentive for Conservation Easement Donations. The permanent conservation easement tax incentive is a powerful tool that helps Americans conserve their land voluntarily. First enacted temporarily in 2006, the tax incentive was made permanent in 2015 and increases the benefits to landowners by:
If you own land with important natural, agricultural or historic resources, donating a conservation easement can be a great way to save the land you love forever and to realize significant federal tax savings. For more information, please call Linda Balek at 815-337-9502.