The Advocacy Fund for the Future
The Advocacy Fund for the Future:
Ensure that The Historic Districts Council
Thrives for another Five Decades
Thank you for your support of The Historic Districts Council (HDC) and your interest in its Advocacy Fund for the Future, which will provide a financial foundation for HDC’s important City-wide preservation advocacy work in the coming decades.
A charitable bequest or beneficiary designation for HDC may be easily included in your will or living trust and beneficiary designations when they are created and revised. Regardless of the size of your estate or the gift to HDC, the gift should be deductible against Federal and State estate taxes, without limitation. The examples on this sheet are meant to illustrate a variety of bequest and beneficiary designation techniques. In consultation with an attorney, this language should be adapted to your individual circumstances as part of your estate and financial plan.
Specific Bequest: A specific bequest is a gift of a particular dollar amount or property. For example: I give and bequeath (dollar amount or description of personal property) to The Historic Districts Council.
Residuary Bequest: The most common and simple to designate, a residuary bequest is a gift of all or part of the property remaining in your estate after debts, expenses and specific bequests have been paid. You control what percentage of your estate is given to an individual or charity. This method automatically adjusts the size of your bequest according to the value of your estate. In the event of unexpected changes in the size of your estate value, you can have peace of mind that your intentions will be fulfilled without the estate running out of assets to distribute. For example: I give, bequeath and devise (___%) of the rest, residue and remainder of my property, both real and personal, to The Historic Districts Council.
Contingent Bequest: A contingent bequest is a gift which takes effect only if the primary beneficiary or beneficiaries of the bequest should predecease you. For example: If neither my spouse nor any decedent of mine survives me, then I give and bequeath (description of property) to The Historic Districts Council.
Retirement Assets and Financial Accounts: Perhaps the most tax-effective gift is a bequest of the remainder of your retirement plans such as pension funds or IRAs or of other financial accounts, including paid-up life insurance policies. When left to someone other than your spouse, they may be subject to both income and estate taxes. Combined these taxes may total more then 80%! If bequeathed to HDC, these funds would escape both income and estate taxation and reduce your taxable estate. Request a beneficiary designation form from your retirement or financial account manager and use the following information:
The Historic Districts Council
232 East 11th Street
New York, NY 10003
TIN: 13-3389566 (use this in the space on the form where it asks for an SSN)
How Will HDC Use My Gift?: Bequests to HDC will be added to its Endowment or to its Advocacy Fund for the Future unless otherwise restricted. The Advocacy Fund is a board-designated endowment that also may be used for special projects and new initiatives that arise in the future in order to protect the future of our city’s historic resources. If you intend to restrict your gift, please contact the HDC office at (212) 614-9107 to discuss your plans so that we can ensure that they are practicable.
Already Made Your Estate Gift to HDC?: Let us know by calling us at (212) 614-9107 so we can thank you and add you to our list of Advocacy Fund for the Future supporters!
The Historic Districts Council does not provide tax or legal advice;
please consult your own tax and legal advisers for such guidance.