Sounds silly, but we want your heart first, your stuff second! Come by for a visit and see what we do. Perhaps you can volunteer some time. We serve kids, protect the environment, and educate all ages. We focus on nature and the arts. Are these things important to you? If you would like to partner with us financially, you can always make a donation. The easiest way to support Camp Ocean Pines is give an outright gift. The gift can be money, appreciated stocks, property, or things! Here are a few examples:
MONEY – it comes in many forms…
It comes in all forms…cash, checks, credit cards, stocks, insurance, or things of value that we can quickly sell and deposit in the bank. Ready right now? It is easy with a credit card here:
APPRECIATED SECURITIES – turning paper into programs for people…
This is one of the simplest ways to support Camp Ocean Pines now. You transfer securities, which you must have held for at least one year, to Camp Ocean Pines and we sell them and use proceeds to fund the program of your choice.
Example
If you purchased stock years ago for $10,000 and it is now worth $20,000, an outright gift to COP would provide you with a charitable deduction of $20,000. And you would pay no capital gains tax on the $10,000 appreciation.
How It’s Done
Just notify your stockbroker in writing that you wish to make a charitable donation and indicate the effective date. Your broker should contact COP to discuss the gift. When the transfer is completed, we will sell the securities.
Benefits
- You receive a gift credit and immediate income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them.
- You pay no capital gains tax on the securities you donate.
- You can direct your gift to a specific fund or purpose.
- You make a gift now or fund a life income gift that benefits Camp Ocean Pines later.
REAL ESTATE – downsizing to increase your influence…
You can make an outright real estate gift to Camp Ocean Pines and take an income tax deduction for 100% of the fair market value of real estate held for more than one year. In addition, any capital gains taxes due if the property is sold are by-passed when the real estate is gifted. The outright gift of the property reduces your taxable estate.
The amount of income tax deduction that can be used in any one year is limited to 30% of adjusted gross income. Any excess deduction can be carried forward for up to five additional years. For example, if your adjusted gross income for the year is $100,000, up to $30,000 of an outright gift of real estate given to benefit Camp Ocean Pines is deducted this year. Any amount over $30,000 may be carried forward for up to five additional years.
Benefits
- By-passes capital gains taxes
- Allows current income tax deduction
- Lowers insurance and maintenance costs
- Provides immediate charitable income tax deduction
- Reduces management worries
- Reduces estate and property taxes
- By-passes estate and settlement costs
- Provides tax-free growth of assets in trust
- Gives satisfaction of contributing to rare forest preservation and worthwhile children’s programs
RETIREMENT PLANS – paying too much in taxes?…
You can donate your IRA, 401K or other retirement plan to Camp Ocean Pines simply by naming us as your beneficiary. This type of gift avoids estate and income tax on the assets accumulated tax-free during your lifetime. Or, you could donate a percentage of your required withdrawals (if over age 70 ½) or a percentage of early withdrawals you might take (if over age 59).
Benefits
- Eliminates estate and income tax on accumulated assets
- Designate the gift to a specific COP program
LIFE INSURANCE – it does more than just protect you…
A very simple way to support Camp Ocean Pines is to donate a life insurance policy or name us as the beneficiary. If it is a paid up policy, you will receive an income tax deduction equal to the lesser of the policy’s cash value or the total premiums paid. To qualify for the federal charitable contribution deduction on an existing policy, just contact your insurance agent and name Camp Ocean Pines as the owner and beneficiary.
Benefits
- Income tax deduction
- Federal charitable contribution deduction
- Extremely simple to implement
- Supports COP now or after your death
- Your donation may fund a COP program of your choice
- Proceeds from a life insurance policy are paid promptly, not part of probate
If you have an existing policy you no longer need…
If you purchased a policy in the past but don’t need that coverage now, you can gift the policy to Camp Ocean Pines instead of cashing it in. Just change the beneficiary of the policy to Camp Ocean Pines and you will receive a charitable income tax deduction. If you make future annual gifts of the premium, you will receive additional charitable income tax deductions each year.
If you continue to need life insurance coverage…
Instead of making a gift of the policy, you can designate Camp Ocean Pines
as a contingent beneficiary. The Camp would receive the proceeds only if your other beneficiaries passed away before you. If you want to reduce the original coverage amount, you can also name Camp Ocean Pines as the beneficiary of the portion of the policy’s proceeds that are no longer needed.
If you purchase a new policy….
When you purchase a new policy and name Camp Ocean Pines as the owner and beneficiary, you can gift the premiums to the Camp and they become fully income tax deductible.