Make a lasting difference by helping to restore habitat for salmon, steelhead, and the animals and people that depend upon them.
Here are several ways you can help restore and protect our Skagit watershed for salmon and the many species that depend upon them, today and for future generations.
A Gift in your Will or Living Trust
Your gift to Skagit Fisheries by making a gift in your will or living trust can be revocable by you and remain under your control while you live. A gift can be made of a specified dollar amount, a percentage of your estate, or of the specified property.
Any reference to Skagit Fisheries in your will should use our full name “Skagit Fisheries Enhancement Group, a nonprofit corporation, incorporated in the state of Washington, with offices in the town of Mount Vernon Washington 98273. Tax identification number 94-3165939.
For simple bequests, suggested wording is:
I give, devise, and bequeath to Skagit Fisheries Enhancement Group, a nonprofit corporation, organized and existing under the laws of Washington State, with offices in the town of Mount Vernon Washington, tax identification number 94-3165939, ___________________________ [specific asset, lump sum, or residual percentage] to be used for its general purposes of habitat restoration or education (or describe a specific program, fund or use).
A Gift of IRA or other Retirement Plan Distributions
When distributions are made to you or your heirs from your IRA, or other tax-deferred retirement plans, they are taxable. If the IRA or retirement plan is distributed to your heirs, they will pay tax when they inherit it. However, these retirement plan assets can be used to make a charitable gift to Skagit Fisheries, with that transfer being made tax-free. Thus, it might make sense to make Skagit Fisheries a full or partial beneficiary of your plan, leaving other assets to your heirs which do not trigger income taxes.
A Gift of Life Insurance
If you have a life insurance policy you no longer need, donating it to Skagit Fisheries can result in tax benefits, and allow you to make a bigger gift than you would be able to otherwise. If you donate a fully paid-for policy to Skagit Fisheries, you will obtain a tax deduction for your gift. Another way to do this is to designate Skagit Fisheries as your beneficiary under the policy.
A Gift from a Donor Advised Fund
In addition to recommending immediate or recurring grants to Skagit Fisheries from your donor-advised fund (DAF), you can name Skagit Fisheries as the full or partial beneficiary of your fund — ensuring future support for Skagit Fisheries mission.
Contact Us
Please direct your questions and seek advice from your tax advisor, attorney, and/or financial planner first. If you have already included Skagit Fisheries in your estate plans or would like additional information, please let us know by contacting Alison Studley.
Alison Studley, Executive Director, Skagit Fisheries Enhancement Group
1202 S Second Street, Suite C, PO Box 2497, Mount Vernon, WA 98273
The material presented on this website is intended as general educational information on the topics discussed and should not be interpreted as legal, financial, or tax advice. Please seek the specific advice of your tax advisor, attorney, and/or financial planner to discuss the application of these topics to your individual situation.
