Through the years, Newfound-Owatonna has been truly blessed by alumni, parents, and friends who have remembered Camp in their estate plans and from Qualified Charitable Distributions from IRA plans. Their legacies live on through our current campers and through the vision and mission of Newfound-Owatonna.
Please consult your tax, financial, and legal advisors for the best way to construct your estate planning and direct your giving. Assistance from Camp is always available by contacting the Executive Director, Seth Johnson, and some common giving approaches are described below.
Information shared by the Executive Director or others affiliated with the Camps, as well as material presented on this website, is not offered as legal or tax advice. Please read the full disclosure below.
WHY Planned Giving?
With a planned gift, you can control how your assets will be distributed, providing both for your family and for Camp, without affecting your current finances. You’ll know that you have done your best to plan and provide for yourself and for loved ones, as well as for the causes you’ve cared about during your lifetime – including supporting a new generation of campers and all that you love about Newfound-Owatonna.
A gift plan can provide you with substantial tax benefits, especially when you donate appreciated stocks or real estate. Depending on your situation, you may save income taxes, capital gains taxes, probate expenses, and estate taxes, while maximizing the donation received by Camp.
WHO Can Participate?
Anyone! A planned gift, as contrasted with a one-time or recurring donation that may be part of your family’s financial budget and discretionary income, is "any major gift, made in lifetime or at death as part of a donor’s overall financial and/or estate planning."
WHAT Can You Give?
There are many giving options, including gifts that will not affect your existing financial resources but will have a significant impact on Camp. You can give to the organization you care so much about, while maintaining control and flexibility.
These are some examples of assets that donors often include in their charitable giving and estate plans:
STOCKS & BONDS: Giving appreciated stocks, bonds, mutual funds, or similar investments is one of the most tax-advantaged ways to make charitable gifts. With careful planning, you can reduce your capital gains tax while supporting Newfound-Owatonna.
RETIREMENT ASSETS: A gift of your retirement assets, such as an employee retirement plan, IRA, or tax-sheltered annuity, is an excellent way to make a planned gift. A gift of these assets can shield your heirs from taxes while funding Camp's future.
An IRA Charitable Rollover during your lifetime also provides for a Qualified Charitable Distribution that is a tax-smart way to create an immediate impact on Camp using your IRA.
Required minimum distributions (RMDs) from your IRA can also be donated to Camp with substantial tax benefits that allow more of your gift to reach Camp.
LIFE INSURANCE: Life insurance is a valuable asset for making a charitable gift. You can make a gift of a life insurance policy without diminishing other investments or assets earmarked for family members.
REAL ESTATE: A gift of real estate allows you to preserve your cash assets, receive tax and income advantages, and make a significant charitable gift to Newfound-Owatonna.
OTHER TANGIBLE PROPERTY: Personal property such as valuable art, automobiles, boats, antiques, or stamp / coin collections can often be gifted directly to Camp or sold with funds contributed to a Donor Advised Fund to benefit Camp.
HOW Does it Work?
Estate planning may entail difficult choices, but once your plan is in place, it can provide peace of mind for you and your family, ensuring that your loved ones will be cared for, and your philanthropic wishes carried out.
One of the easiest gifts you can make is to name Camps Newfound & Owatonna as a beneficiary of one of your assets, such as your retirement plan, life insurance policy, bank account or donor advised fund.
Following are some examples of Planned Giving options—both for legacy (estate) gifts and contributions during your lifetime--that may help as you evaluate giving options that will meet your goals. Please consult your tax and financial advisors about the best way to construct your estate plan and direct your giving. (Read full disclosure below.)
GIFTS BY WILL OR TRUST
A charitable gift from your estate is a favored method of giving that enables you to achieve your financial goals, maintain control of your assets, and benefit Newfound-Owatonna.
NAMING CAMP AS A BENEFICIARY
While you may transfer many of your assets through your will or living trust, a document called a beneficiary designation controls distribution of your retirement plans, life insurance policies, bank accounts, commercial annuities, and a variety of other financial accounts.
CONTRIBUTING FROM AN IRA
The IRA charitable rollover (also called the Qualified Charitable Distribution or QCD), or required minimum distributions (RMDs) are tax-smart ways to make an impact on Camp.
CHARITABLE GIFT ANNUITIES
A charitable gift annuity provides fixed payments to you or others you name for life in exchange for your gift of cash or securities.
DEFERRED CHARITABLE GIFT ANNUITY
A deferred gift annuity provides fixed payments to you or others you name for life in exchange for your gift of cash or securities. The payments start on a date you choose that is at least one year after you make the gift. If you are doing retirement income planning the new – and higher – annuity rates may make the deferred gift annuity the answer to your charitable and financial planning goals.
DONOR ADVISED FUNDS (DAF)
Contributions of cash, securities or other assets to an IRS-approved Donor Advised Fund that you control can allow for tax-free growth and donations to Camp and other qualified charities. As with all Planned Giving, we recommend consulting your financial and tax-planning advisors for details.
IMPORTANT DISCLOSURE NOTICE
You can support Camps Newfound and Owatonna with a variety of charitable gift planning options. The Camps, their employees and representatives, do not offer legal, financial, or tax advice. We strongly urge prospective donors to consult with their estate planning attorney, financial advisor, accountant and/or other appropriate professionals familiar with your circumstances before making any material decisions with respect to planned giving.
The purpose of this web site, and any information shared by the Executive Director of Camps Newfound and Owatonna, is to offer information about general gift, estate, and financial planning options. State laws govern wills, trusts, and charitable gifts, and tax laws change frequently, so please watch for revisions to the tax code and other relevant laws. Advice from legal counsel should be sought any time you are considering these types of gifts. Thank you for considering Camp in your Planned Giving!