The Osprey Society

Planned Giving at Chewonki

Planned giving is a process of legal, financial, and estate planning resulting in a gift to something you care deeply about – here that means Chewonki. The traditional universe of planned gifts includes bequests, gifts that return an income to you and to others you choose to benefit, and designations in retirement plans and in life insurance policies.  It can also include outright gifts that require some additional planning such as real estate, closely-held stock, and interests in limited liability companies and in partnerships.  Chewonki can provide the expertise to assist you in creating and evaluating a planned gift that is right for you and your family.  When considering a planned gift to Chewonki, please also consult with your financial and estate planning advisors.

The Osprey Society:

Individuals who let us know they have included Chewonki in their estate, retirement, or life insurance planning become members of The Osprey Society, a group of special supporters who have made a lifelong commitment to Chewonki. Membership in The Osprey Society is an enduring personal affirmation of your belief in Chewonki’s mission.

Bequests and trusts:

One of the simplest ways to make a planned gift is to include a statement in your will or trust that a share of your estate or trust will be distributed to Chewonki for the purpose that you designate.

A specific amount or a percentage of your residuary estate may be left to Chewonki using the following language:

I give and devise to the Chewonki Foundation, with principal offices in Wiscasset, Maine, the sum of $__________ (or x% of my estate or trust residuary) to be used for its general charitable purposes (or for a more specific purpose).

Retirement Funds:  

IRAs and Annuity Contracts can include Chewonki as a percentage beneficiary of the account, and provide an opportunity to save income and estate taxes and maximize bequests to family.  To make this type of gift, you would use the beneficiary designation form provided by your plan administrator.  Chewonki’s legal name is “Chewonki Foundation, Inc.” and its federal tax identification number is 01-0269460.

Life Insurance:  

If you have a life insurance policy that you no longer need to cover its original purpose, you can donate it to Chewonki and receive a charitable deduction for its approximate cash value, or you could name Chewonki as a beneficiary of the policy and retain its ownership.  If you have term insurance, e.g. a policy provided by an employer, you can also name Chewonki as a beneficiary, but there would be no current charitable deduction.   If you have an insurance policy that will require premium payments in the future, you may be able to donate the policy to Chewonki and receive a charitable deduction for the premium payments as you make them.

Charitable Gift Annuities, Charitable Remainder Trusts, and Charitable Lead Trusts

Chewonki does not offer charitable gift annuities or serve as trustee of either charitable remainder trusts or charitable lead trusts. However, representatives of Chewonki are available and happy to discuss the benefits of establishing these gifts and how you could include Chewonki as a beneficiary.

Real Estate:

A gift of real estate that you no longer wish to retain can make an excellent gift to Chewonki and we are happy to discuss these types of gifts with you.  In most instances, Chewonki will sell the property after it is received and use the proceeds for the purpose that you designate.  Gifts of real estate are carefully evaluated on a case by case basis prior to being accepted. 

Join The Osprey Society:

If you have made a provision for Chewonki in your will, trust, or retirement plan, please let us know and become a member of The Osprey Society. If you would like to discuss a planned gift or joining The Osprey Society, please call and we will be happy to speak with you.

Contact Us:

Development Office
Chewonki Foundation
485 Chewonki Neck Road
Wiscasset, ME 04578

 

Gifts by phone or to ask questions:

TEL 207-882-7323
EIN #01-0269460

Chewonki Foundation is a 501(c)(3) organization. Gifts to the Foundation are tax deductible to the extent allowable by law.