A deferred gift could improve your tax situation now and provide much-needed support to the Naval Institute later, allowing your generosity to benefit others for years to come. The Naval Institute Foundation gratefully accepts bequests, trusts, or other legal forms of planned giving. The State of Maryland has certified the Foundation to administer these financial vehicles.
Because charitable giving can have important tax and estate-planning implications, a donor should consult with his attorney, investment advisor, or financial planner before deciding on the nature and size of any deferred gift.
The following sample inclusion clauses should be reviewed with your attorney and with regard to your state of residence:
General Purposes Bequest:
I hereby give, devise, and bequest (__________ dollars) or (__________ percent of the residue of my estate) to the Naval Institute Foundation, 291 Wood Road, Annapolis, Maryland 21402, for its general purposes.
Specific Purpose Bequest:
I hereby give, devise, and bequest (__________ dollars) or (__________ percent of the residue of my estate) to the Naval Institute Foundation, 291 Wood Road, Annapolis, Maryland 21402, to be used only for the following purpose: (state the purpose). If, in the future, it is the opinion of the Board of Directors of the United States Naval Institute that this bequest cannot be usefully applied to such purpose, the Naval Institute may use the same for any purpose that will most nearly accomplish my wishes.
Distribution from Trust:
I direct that upon termination of the trust, the Trustee shall distribute (__________ dollars) or (__________ percent of the dissolved trust) to the Naval Institute Foundation, 291 Wood Road, Annapolis, Maryland 21402, for its general purposes.