You have many options for supporting REEF through planned giving:
- direct the distribution of your assets;
- provide for your heirs in the way you choose rather than as state and federal laws dictate;
- possibly reduce or eliminate certain estate taxes and court costs; and
- designate a portion of your assets as a gift to your favorite charity.
Testamentary gifts to REEF or other charities can take many forms, either through a new will, or through a ‘codicil’ – an amendment to your existing will.
REEF receives a specified dollar amount.
REEF receives specified assets, such as securities.
REEF receives all or a percentage of the remainder of your estate after specific legacies, debts, taxes, and estate expenses have been paid.
REEF receives a gift according to the language of the bequest. There are a wide variety of conditions that you could place on such a bequest. For example, if you outlive other named beneficiaries, then part or all of your estate would benefit REEF.
Examples of Testamentary Language
I give and bequeath to Reef Environmental Education Foundation, a non-profit organization (Tax ID #65-0270064), with a principal business address of 98300 Overseas Highway, Key Largo, FL 33037, for its general purposes, the sum of ______ Dollars ($______ ) – OR – ______% of my residuary estate.
An unrestricted bequest allows your support to be used in the area of greatest need.
I give and bequeath to Reef Environmental Education Foundation, a non-profit organization (Tax ID # 65-0270064), with a principal business address of 98300 Overseas Highway, Key Largo, FL 33037, the sum of ______ dollars ($______ ) – OR – ______% of my residuary estate to support ______________ (e.g, education, lionfish, or volunteer fish survey project).
If you have a more specific purpose in mind, please contact us so we can work with you to ensure that your wishes are met.
Your bequest to REEF may qualify your estate for a charitable deduction equal to the entire amount of the bequest. Consult your tax or financial adviser for further information.
Charitable Remainder Trust
One or more named beneficiaries receive income for life or for a specified term of years, after which time the assets pass to REEF. Through this arrangement, you can provide income to family members or friends, realize significant tax savings, and ensure important benefits to REEF after the trust’s termination.
Charitable Lead Trust
Income from the trust is paid to REEF for a period of years, after which time the assets pass to your heirs, usually your grandchildren, at a reduced estate tax cost. By substantially reducing estate and other transfer taxes, this arrangement allows you to preserve a larger portion of your estate for your beneficiaries.
IRAs, 401(k)s, 403(b)s, Keoghs, and other retirement plan assets make up an increasingly large part of many estates. When left to your heirs, these assets can be subject to income, estate, and other transfer taxes. Naming REEF as a beneficiary or contingent beneficiary of all or a percentage of your plan assets may reduce or eliminate both income and estate taxes. Note that designating a specific dollar amount, rather than a specified percentage, may result in the inclusion of these funds in your gross estate for tax purposes.
To designate REEF as the beneficiary of some or all of your retirement plan funds, please use the following language on the retirement plan forms:
I give and bequeath to Reef Environmental Education Foundation, a non-profit organization (Tax ID # 65-0270064), with a principal business address of 98300 Overseas Highway, Key Largo, FL 33037, the sum of ______ dollars ($______ ) – OR – ______% of my residuary estate for its general purposes – OR – to support _________________ (e.g. education, lionfish, or volunteer fish survey project).
Retirement plan assets can also be placed in a testamentary charitable remainder trust to provide income to your heirs for life or a specified term of years with the remainder interest passing to REEF.
This information is intended to provide general gift planning information. Our organization is not qualified to provide specific legal, tax or investment advice, and this information should not be looked to or relied upon as a source for such advice. Consult with your own legal and financial advisors before making any gift.
For further information or to talk with someone in our Development and Giving office, call 305-852-0030, or email giving@REEF.org.
Matched Gifts: Many corporations offer a matching gift program. Click here to find out more.
Other Ways to Celebrate:
REEF’s focus is to develop strong programming to engage and inspire the public through citizen science, education, and partnering with the scientific community to achieve a healthier ocean. This commitment to our mission has been recognized by Great Nonprofits and GuideStar. This means your donation goes directly to making a difference for our ocean.