Center for Conservation Biology

Whether you are making an annual gift supporting the many programs covered under the Conservation Fund or a major gift supporting the endowed chair in conservation biology, there are a variety of ways that you may contribute to the programs of the Center for Conservation Biology:

Cash
The most common way of supporting our conservation programs is by a direct gift of cash.

Gifts to Baker Library
The Center for Conservation Biology is in the process of expanding the breadth and depth of the Baker Library. Our goal is to assemble the most extensive avian research library within the mid-Atlantic region. Contributions of dedicated funds or actual library materials will assist in this process. Funds contributed toward the purchase of library resources are fully tax deductible. Materials contributed to the library are tax deductible according to their appraised value. [top]

Gifts-in-Kind
The Center for Conservation Biology often has pressing needs for equipment used in fieldwork and education such as trucks, boats, camping equipment, and banding materials. The Center also has regular needs for office equipment such as copiers, computers, furniture, and artwork. Gifts of personal property can further the mission of the Center while providing tax benefits to the donor. The tax benefits for gifts-in-kind can be similar to gifts of money or securities. Provided that the property has been owned for more than one year, the donor can deduct the full fair market value. If the property has been owned for less than one year, the donor can still deduct the property's cost basis, an amount which usually equals the original price of the property. [top]

Securities
Gifts of securities, such as stocks, bonds and mutual funds, can be a strategically effective way to support the programs of the Center for Conservation Biology. Securities may be donated without paying capital gains taxes on appreciation. Moreover, if a donor has held such stocks for more than one year, he or she can claim a tax deduction based on the securities' fair market value -- even though they were purchased for only a fraction of that amount. Securities held less than one year may also be donated, qualifying for a tax deduction typically based on the donor's cost basis.

You must contact the William & Mary Gift Accounting Office at (757) 221-1048 prior to the transfer of securities. This will ensure the donation will be processed and credited properly in a timely manner.[top]

Memorial Gifts
A gift made in memory or in honor of a teacher, student, relative or friend is a thoughtful gesture to recognize an individual's life and accomplishments. When an honorary or memorial gift is made, the Center for Conservation Biology will notify the honoree or next of kin. To make an honorary gift, send a letter indicating the purpose of your gift as well as the name and address of the honoree. For memorial gifts, if a memorial fund has not already been established, you should note somewhere on your check the name of the honoree and include the name and address of his/her next of kin. [top]

Real Estate
Gifts of real estate can be a strategically effective way to support the programs of the Center for Conservation Biology since they may be donated without the burden of capital gains taxes. Moreover, if a donor has held the property for more than one year, he or she may claim a tax deduction based on the fair market value - even though it was purchased for only a fraction of that amount. Property held for less than one year may also be donated, qualifying for a deduction typically based on the donor's cost basis.

There are a variety of ways in which real estate may be donated to further the mission of the Center for Conservation Biology. Real estate may be used to make an outright gift, allowing an endowment, a critical research or education program, or other needs to be funded right away. Real estate may also be used to fund a life income gift, paying the donor (and perhaps others) an income stream for life with the remainder then being used to support Center programs. Donors may also contribute a remainder interest in a residence or farm. This option allows donors to make a gift to the Center today while still living in their house or on their farm for the rest of their lives.

While the requirements to make a real estate gift vary, (depending on the type of gift being considered) they typically require at least three steps -- an appraisal of the property's value, an assessment of any environmental risks posed by the property, and the preparation of a deed that actually transfers the property.

Please note: All gifts of real property are subject to the review and acceptance in advance by the Property Management Committee of the Endowment Association of the College of William and Mary. Please contact the William and Mary Gift Planning Office at (757) 221-1004 for assistance. [top]

Matching Gifts
One way to maximize your gift to the Center for Conservation Biology is to check with your employer's personnel department to see if it is one of the many companies that have a matching gift program. By following your company's guidelines, the value of your gift may be doubled or tripled. Many companies make this benefit available to employees, employee spouses, retirees, and board members. [top]

Bequests in Your Will or Trust
The simplest way to make a planned gift to the Center for Conservation Biology is to name the Center as a beneficiary in your will or in a revocable trust. This is a flexible process and may be customized to the donor's interests and needs. For example you may:

Depending on the size of your estate and the amount of your charitable bequest, you will avoid estate taxes on the bequest itself and you may place the remainder of your estate in a lower tax bracket, thereby benefiting your other estate beneficiaries. For some example language, click here to read about bequest information. [top]

Life Insurance Gifts
Life insurance may be used in a variety of ways to support the programs of the Center for Conservation Biology. For policies that are paid up (where no more premiums are due), you may transfer ownership of the policy to Center and name the Center for Conservation Biology as the beneficiary. In most cases, you will receive an income tax deduction equal to the cash surrender value of the policy.

For policies with premiums remaining to be paid, when you donate the policy to the Center for Conservation Biology, you will receive an income tax deduction roughly equal to the cash surrender value of the policy plus a portion of your last premium payment. If you continue to make future premium payments, you can also enjoy income tax deductions for those payments.

If your employer provides group term life insurance and pays the premiums, you can name the Center for Conservation Biology as the beneficiary of that policy and avoid paying taxes on the premiums you would otherwise incur.

Finally, although you will not obtain a charitable tax deduction without transferring ownership to the Center for Conservation Biology, you can name the Center as the beneficiary of any life insurance policy you own.

Please note: you should designate the Endowment Association of the College of William and Mary as beneficiary and specify the proceeds to be used for the Center for Conservation Biology. Please contact the William and Mary Gift Planning Office at (757) 221-1004 for assistance. [top]

Life Income Gifts
A life income gift is created when you irrevocably transfer property in exchange for which you (and/or others you designate) receive income, usually for life. The William and Mary Gift Planning Office can provide customized illustrations and sample documents for a variety of life income plans. Please contact the Gift Planning Office at (757) 221-1004 for assistance.[top]

Retirement Plan Gifts
You may designate the Center for Conservation Biology as the first or second (after your spouse) beneficiary of your retirement plan, including any individual retirement accounts you may own. This enables you to avoid the taxes imposed upon retirement accounts. These taxes can be considerable.

However, these taxes can be avoided if the assets from your retirement plan pass to the Center for Conservation Biology. In addition, because the assets grow tax-free until they are withdrawn, the ultimate gift to the Center may be more substantial than from other deferred gifts you are considering.

Charitable Lead Trusts
A charitable lead trust involves the irrevocable transfer of property to a trust that pays an income stream to the Center for Conservation Biology for a period of years or for the lifetime of named individuals, or for a combination of the two, with the remainder interest of the trust passing to any non-charitable beneficiary you choose. Usually, the non-charitable beneficiary is a younger family member.

There are several kinds of charitable lead trusts that a donor can establish to benefit the Center, two of which, the charitable lead annuity trust and the charitable lead unitrust, will provide an income tax deduction if properly established.

All charitable lead trusts provide an estate or gift tax deduction. Charitable lead trusts are often used to transfer significant assets to family members at a future date with the intent of avoiding large estate or gift tax consequences. Charitable lead trusts may also be appropriate for reducing income taxes in years that you have unusually high income that places you in a higher tax bracket, or to generate cash from immediate tax savings that can be invested in a unique opportunity. [top]

For more information, click here to read about tax benefits.

Retained Life Estates
You and/or your spouse may own a home or farm. You can donate this property to the Center for Conservation Biology, but retain the right to use the property for your benefit for as long as you live. The Center will gain full control of the property only upon your death.

You are entitled to a present income tax deduction equal to the value of the Center for Conservation's remainder interest in the property. The deduction amount is determined by the appraised value of the property and your age. If you have owned the property for more than twelve months, you may also avoid any capital gains taxes that could be assessed should you sell the property rather than donating it to the Center (if the property is debt-free). For more information, click here to read about tax benefits.