planned or estate giving

Creating a Legacy of Climbing Access

Has the vertical landscape helped you define who you are and set the tone for how you engage with the world? Now you have an opportunity to ensure that future generations can be inspired and challenged by the cliffs and crags that you hold dear. With your help, we can preserve this valuable asset for generations to come. There are many ways to make a difference in the climbing community, the most straightforward of which is to include the Access Fund in your will with a charitable bequest. Other ways to protect climbing areas include naming the Access Fund as a beneficiary of a retirement account, life insurance policy, or investment account. You can also donate vehicles or property to protect America’s climbing.

Bequests

Charitable bequests are easily completed through your will, trust, or donor advised fund. They are revocable and can be for a specific dollar amount, property or percentage of your estate.

The following is an example of basic bequest language that can be included in your will or trust:

"I hereby give, devise and bequeath to the Access Fund, a qualified 501(c)(3) charitable institution located at 207 Canyon Boulevard, Suite 201 South, Boulder, CO 80302, USA, Federal Tax Identification Number 94-3131165, the sum of $_____ [or otherwise describe the gift or assets] to be held, administered and used by the Board of Trustees for support of the Access Fund in the area of greatest opportunity."

Residuary Bequests

A residuary bequest is used to give the Access Fund all or a portion of your property after all debts, taxes, expenses and other beneficiaries have been accounted for.

Example Residuary Bequest Language:

"I hereby give, devise and bequeath to the Access Fund, a qualified 501(c)(3) charitable institution located at 207 Canyon Boulevard, Suite 201 South, Boulder, CO 80302, USA, Federal Tax Identification Number 94-3131165, the rest, reside and remainder of my estate, both real and personal, to be held, administered and used by the Board of Trustees for support of the Access Fund in the area of greatest opportunity."

Retirement accounts, Investment Accounts and Life Insurance

Did you know that you could name the Access Fund as a beneficiary of a retirement account, life insurance policy, or investment account?

You can make the Access Fund a beneficiary of an account by indicating a specific percentage (up to 100%) or a specific amount that you’d like to donate. You can also name the Access Fund as a back up beneficiary to any account in the event that your intended beneficiary does not survive you.

Many individuals see this as a powerful way to effect change in the future of climbing while eliminating substantial tax burdens. Funds that remain in your retirement accounts at death are considered part of your estate and may be subject to state and/or federal taxes. Additionally, any retirement funds that remain after estate taxes may also be subject to income taxes for their intended beneficiary. Many individuals choose to avoid this potential "double taxation" by making a charitable gift with retirement funds and leaving other assets to loved ones. This can ensure that estate or income tax will ever be due on the remaining retirement fund balances.

You can also make gifts directly from your Individual Retirement Account or 401(k) during retirement. If you are over age 59½, you are generally allowed to withdraw funds from retirement accounts without triggering an early withdrawal penalty. You must report the withdrawal amount for income tax purposes, but this can be offset by a charitable deduction, which can eliminate income tax being issued. Special tax benefits may be available for those over age 70½ who wish to make charitable gifts from a traditional or Roth IRA. Check with your administrator for more information about Charitable IRA Rollovers and the tax benefits that may be available.

Life Income Gifts
You may want to consider a "planned gift"; during your lifetime to the Access Fund. Charitable remainder trusts, gift annuities and charitable lead trusts are examples of a few options of gifts that may occur during your lifetime. The information on this web site is not intended as legal or tax advice, but simply as general information on donations and planned giving to the Access Fund. For legal and tax advice, please consult your attorney, accountant, and/or financial planner.

Charitable Remainder Trust
Through a charitable remainder trust, a donor transfers assets to a trust, but continues to receive income from the assets transferred to the trust (the principal). At the end of the trust term, the principal is transferred to the Access Fund as a donation. The tax benefits may include a current charitable contribution deduction, increased income and reduced income, capital gains, and estate taxes.

Charitable Lead Trusts
Another way of giving to the Access Fund for supporters with larger estates is through a charitable lead trust. A donor contributes assets (such as securities, real estate, business interest or other property) to a trust and the trust distributes income to the Access Fund for a fixed term. At the end of the trust term, the trust assets are distributed to a beneficiary (e.g., child of the original donor). The end result is a charitable contribution deduction today and often lowers gift and estate taxes for the donor.

Gifts of Real Estate
A gift of real estate can provide generous support for the Access Fund and may generate significant tax savings for you. Almost any type of property, such as a personal residence, a vacation home or an undeveloped parcel of land is a valuable gift. If the property qualifies as a long-term asset, consider giving it outright. By doing this, you are eligible to save capital gains tax and receive a deduction equal to the value of the gift. Gifts of real estate are eligible for deductions of up to 30 percent of your adjusted gross income.

If you have additional questions on these programs please contact Anneliese Thies at anneliese@accessfund.org