The Long Trail Legacy Society was established in 2008 to thank and honor donors who make Planned Gifts to the Green Mountain Club. Including the Green Mountain Club in your will or through another type of planned gift ensures that the Long Trail will continue to benefit from your generoisty even after you pass away.
The most common type of planned gift is a charitable bequest. Bequests are established by including a provision in your will that names GMC as one of your beneficiaries. Bequests can specify a dollar amount or simply direct a percentage to be contributed to GMC.
There are two ways your Life Insurance policy can benefit the Green Mountain Club. GMC can be named as a beneficiary of the policy or the policy can be donated to GMC so that the club becomes the policy owner. When a policy is donated, the donor receives a tax deduction on the fair market value of the policy at the time of donation for the current tax year.
A Charitable Gift Annuity is a life-income gift. A donor makes an irrevocable contribution that is invested for the benefit of the Green Mountain Club. In exchange, the donor receives a fixed annual distribution for the rest of his or her life. A portion of this income is not taxed and the donor also receives a charitable deduction at the time of the gift. GMC has partnered with the Vermont Community Foundation to issue and manage Charitable Gift Annuities.
A donor can use an irrevocable trust to provide himself or herself with a fixed annual income or an income which varies with the value of the trust. Part of the gift qualifies for an income tax deduction. At the death of the last income beneficiary, the corpus of the trust is distributed to GMC. GMC has partnered with the Vermont Community Foundation to issue and manage Charitable Remainder Trusts.
A donor can support GMC for a term of years or for the life of an individual by creating a charitable lead trust. Income will be paid to the GMC during the term of the trust. When the trust terminates, the assets in the trust revert to the donor or to indivuduals the donor wishes to benefit. GMC has partnered with the Vermont Community Foundation to issue and manage Charitable Lead Trusts.
For more information about Planned Gifts, contact our Development office at 802-241-8322 or gmc@greenmountainclub.org
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