A gift of cash is the most common and convenient way to give to Educare Central Maine. Gifts may be made outright or pledged over a period of up to five years. Checks should be made payable to Educare Central Maine. If you prefer, you may charge your gift through Visa, MasterCard, American Express or Discover.
An outright gift of long-term appreciated securities (securities held for more than a year, such as stocks, mutual funds and bonds) avoids capital gains taxes and, in most cases, the donor obtains a charitable income tax deduction equal to the market value of the securities.
You can use life insurance to make a gift by naming Educare Central Maine as the owner and beneficiary of a life insurance policy. You would receive a charitable income tax deduction based on the lesser of the policy’s fair market value or the net premiums paid. You may also wish to make gifts of paid-up policies, resulting in a charitable income tax deduction for the policy’s cash surrender value.
Making a gift of qualified retirement plan assets such as a 401(k), 403(b), IRA, Keogh or pension plan is another way to benefit Educare Central Maine and receive significant tax savings. Retirement plan assets are fully taxable when received by an individual beneficiary.
A provision in your will for Educare Central Maine allows for a substantial contribution without diminishing assets during one’s lifetime. Since bequests for Educare Central Maine are deductible from the estate, significant tax savings are possible. A gift through your estate can provide significant support to Educare Central Maine. The gift can be made through a will or a trust, and both documents enable you to distribute assets to individuals and non-profit organizations in the amounts or proportions you indicate.
Sample Language for Gifts
I hereby give, devise and bequeath to Educare Central Maine, a non-profit corporation, organized, and existing under the laws of the State of Maine, and with a current headquarters address of 56 Drummond Avenue, Waterville, Maine, 04901, tax identification number 26-4176872, the sum of $____ or ____% of my estate or ___% of the residue of my estate.
Educare Central Maine’s Tax Identification numbers is 26-4176872
Educare Central Maine is tax exempt under section 501(c)3 of the Internal Revenue Code.
We strongly encourage you to seek the counsel of your legal, tax or financial advisor before finalizing any gift intention.