There are moments in our lives when we pause to reflect on all we have achieved and all we still hope to accomplish. We reflect on how we will write each chapter of our story in a way that speaks to our principles and priorities. Members of the Naval Institute express their values in part through support of the Institute’s mission, embodied in the phrase, “Dare to read, think, speak, and write.” This is a mission we take seriously. We have worked to give voice to all who seek the finest Navy, Marine Corps, and Coast Guard for 150 years . . . and counting.
Perhaps you’ve wished you could do more—to ensure the open, independent, nonpartisan forum thrives for future generations. Consider the many ways a planned gift could make financial sense for you, your loved ones, and the future of the Institute. Planned gifts:
• Require no immediate donation. Assets transfer to the Naval Institute only after the donor’s death.
• Are welcome in any amount.
• Enable a donor to make loved ones and the Naval Institute beneficiaries.
Legacy gifts include:
Gifts by Bequest: Bequests in a will or trust ensure your support of the Naval Institute continues for generations to come.
Gifts of Retirement Plan Assets: Building retirement savings takes sacrifice, and if you don’t use all the money you have saved, you’ll want to ensure you have a plan for its distribution. Most retirement plans are highly taxed—income and possibly estate tax—when transferred to others. That’s why, from a tax perspective, the best Naval Institute gift could be from a retirement plan. Designating the Naval Institute Foundation as a beneficiary of your retirement plan may allow you to:
• Leave other, less heavily taxed assets to your family.
• Change your beneficiaries, retaining maximum flexibility.
• Take action without the expense of an attorney. You can request a change of beneficiary form from your plan provider and include the Naval Institute Foundation as a full or partial beneficiary.
Because the Naval Institute Foundation is a nonprofit organization, all gifts are tax deductible to the fullest extent of the law.
Donor Advised Funds: Final distribution of contributions remaining in a donor advised fund is governed by the contract you complete when you create your fund. We hope you will consider naming the Naval Institute Foundation as a beneficiary/successor of your account. You can designate the Naval Institute Foundation to receive only a portion of the account value, leaving the remainder for your children or grandchildren to continue your legacy of philanthropy.
CDs and Other Banking Accounts: One of the simplest ways to create your Naval Institute legacy is by making the Naval Institute Foundation the “pay on death” beneficiary of a certificate of deposit or any bank or brokerage account. Your financial institution can advise you about this process.
What You Should Know
There is no obligation to do so, but we hope you will let us know if you have included the Naval Institute Foundation as a beneficiary of your estate. Providing us with notice of your intention is the best way to ensure we receive the gift you have planned and are able to honor your wishes. Another way to ensure your gift reaches us is to include the following language and legal designation in your plans: “I hereby give (percentage, residuary, share, or specific amount or asset) to The Naval Institute Foundation, Inc., 291 Wood Road, Annapolis, MD 21402.” Naval Institute Foundation Tax ID: 52-1814344.
Every person’s situation is different, and the information provided here is not a substitute for advice from a tax or financial planning professional. You should consult your financial advisors regarding your particular situation.
