Islands in Time Society
Through gift planning, you can make arrangements now to support the work of Island Institute in the years to come. Planned gift commitments are recognized through our Islands in Time Society and may offer tax benefits to you and your loved ones.
Unrestricted gifts offer the greatest flexibility to respond to priority needs, whenever the gift is realized. If you prefer to direct your gift to a particular program or use, we would be happy to work with you to craft a gift that will meet anticipated future needs.
Collectively, the members of our Islands in Time Society have directed over $8.5 million in legacy gifts to the work of Island Institute. The commitment of each new member is recognized with a letter signed by the Island Institute President, a commemorative gift, and addition of their name to Society letterhead, used in communication with our supporters. Island Institute respects the wishes of individuals who wish to remain anonymous, and is grateful to those willing to be named for helping to inspire others through their philanthropy.
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Bequests
Naming Island Institute in your will can be a financially responsible way to make a special gift that otherwise may not be possible during your lifetime. Almost any kind of asset may be bequeathed, including cash, securities, tangible personal property, or real estate. If you are considering leaving a bequest for a specific program or purpose, please contact our philanthropy staff. We will work with you to craft a designation that honors your intentions while serving the Institute’s anticipated future needs.
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Charitable Gift Annuities
Under a Charitable Gift Annuity agreement, you can make a gift to Island Institute during your lifetime (and claim any tax benefits permitted by law), and in exchange, Island Institute will pay you or a designated beneficiary a fixed and guaranteed annual payment for life. Donors age 65 or older may begin receiving annuity payments immediately, while donors age 45 or older can establish a deferred annuity. Annuity payment rates depend on your age when you make the gift, and Island Institute uses the rates recommended by the American Council on Gift Annuities.
Please contact Rosemary Price at rprice@islandinstitute.org with any questions or for a personalized illustration of a one- or two-life immediate or deferred charitable gift annuity. All illustrations and conversations are strictly confidential and at no obligation to you.
What Will Your Legacy Be?
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Donna and Charles Wiegle
“As year-round island residents, we have seen firsthand the impact of the work that Island Institute does along the coast of Maine and on the outer islands— always adapting to the needs and issues of coastal communities. We have been members of the organization for nearly three decades and chose to participate in Island Institute’s planned giving so that we can continue to support their work into the future.” |
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Alan Spear
“I have always had deep respect for those who work the water. The daily challenges they face, the risks they accept, the families that support them and the value they bring to coastal communities requires our recognition and calls for our support. I’m no millionaire, but making a long term pledge from my estate can help, and the wonderful relationship I have with the Institute has a value all its own. Every year I learn new things about the working waterfront, and the hundreds of hours I spend on the water each summer, often sharing that with professional fishermen, reminds me why this is important. There’s a satisfaction in knowing that some of what I leave behind will support the industry and the people who work the ocean. Although I live in Illinois, I count the days every year toward my return to Maine.” |
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David and Ann Igram
“While we are “from away”, we have been coming to the Rockland area year-round for more than 35 years. We have supported the work of Island Institute for much of that time. We admire the research and data driven strategies the Institute employs to address issues of coastal and island communities and its focus on the working waterfront. We applaud its close collaborations with other organizations we know and support. We are confident our estate planned gift will enable those programs to thrice and grow well into the future. “ |
Charitable Remainder Unitrusts
A Charitable Remainder Unitrust is a separately invested and managed charitable trust that pays a percentage of the principal, re-valued annually, to the donor or other designated beneficiary for life, or for a term of years. After the unitrust terminates, the accumulated principal or “remainder interest”, is transferred to Island Institute as a charitable gift, for the purposes stated by the donor.
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Life Insurance & Retirement Account Beneficiary Designation
Naming Island Institute as the beneficiary of a life insurance or retirement plan is a simple way for donors at any stage of life to create a legacy gift.
When an insurance policy is fully paid, or in the case of qualified retirement accounts, you may choose to make an immediate gift of these assets by transferring ownership to Island Institute. There are also significant benefits to naming Island Institute as a remainder beneficiary of your retirement account. When passed to heirs, retirement plan assets may be subject to both estate taxes and income taxes. By contract, as a tax exempt organization, Island Institute is eligible to receive the full amount of your gift.
Island Institute encourages donors to discuss potential gifts, especially those that may affect their estate plans, with a professional adviser.
For more information, please contact Rosemary Price at rprice@islandinstitute.org.
