Seabee Memorial ​Scholarship Association 

planned giving


Gifts of Appreciated Property- One of the most efficient means of giving is that of utilizing appreciated property. The IRS allows a deduction for the full fair market value of assets such as stocks, bonds, and real estate transferred to the SMSA. Such gifts offer a substantial tax savings over gifts of cash based on your individual tax circumstances, are subject to Alternative Minimum Tax consequences, and therefore should not be made without professional tax advice. 

Life Insurance-A Life Insurance Policy provides a unique method of establishing your endowment. You may utilize policies you currently own or you may acquire a new policy specifically structured to fulfill your endowment objective. 

Gift of Undivided Interest- A Gift of Undivided Interest is a contribution of a complete interest in a portion of a property. This gift should be made prior to any firm contract for sale. 

Split Interest Gifts-Split Interest Gifts occur when a contribution is divided and shared by you and the SMSA. Generally, these parts consist of an "income" or "use" interest and a remainder interest. The government only allows a charitable deduction for these gifts when made under specific guidelines. Examples are:
 

  • Charitable Remainder Trusts -A CRT is beneficial if you desire continuing income from your gift, but have no need for the principal attached to the asset. You contribute the asset to a trust and receive an income tax savings. Income from the trust is paid to you or a designated beneficiary for a term of years or for life. At the end of the established income benefit, the principal is transferred to the SMSA.
  • Charitable Lead Trusts - A CLT is another beneficial tool if you have income that you temporarily do not need. This trust differs from the CRT in that the income is paid to the SMSA and the principal is returned to you or your beneficiary. The income that the SMSA receives will be used to fund an Endowed Scholarship.
  • Life Estate Agreement- A Life Estate Agreement is similar to a Charitable Remainder Trust, only you retain "use for life" of the property, in this case your home, instead of an income interest. At your death, the home transfers to the SMSA.


Bequest - A provision in a Last Will and Testament can be used to fund a perpetual named scholarship with assets accumulated over a lifetime. Scholarships funded at the time of one's death can be added to by friends and relatives wishing to make memorial contributions. 

See sample bequest language below. 

"I give and bequeath to the Seabee Memorial Scholarship Association, Inc., Springfield, VA,  the sum of $____________ for the purpose of establishing the ____________________ Named Scholarship"

To discuss these and other planned giving options, contact SMSA Chief Development Officer Dan Miller at 859-327-1830 or
danmiller@seabee.org.


The information provided here is general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

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Planned giving

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