Ways of Giving
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The New Hartford Land Trust, Inc.
is a qualified conservation
organization. As such, qualifying
gifts to the Land Trust may benefit
you, while benefiting us, in the
form of a charitable contribution
deduction for income, gift, or estate
tax purposes.
Outright gifts of cash, real property,
or other property (such as
securities) to the New Hartford
Land Trust are greatly appreciated,
and can help us meet our
common goal of preserving the
natural beauty of our Town.
(This information is provided for general
educational purposes only, and should
not be relied upon as specific advice for
any individual situation. Please consult
your tax advisor for the tax effects of any
intended charitable gift.)
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Gilkyson
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Moreschi
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Gifts of real property
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Conservation Easements
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Gifts of real property, such as
vacant land, can be made with or
without restrictions on its use.
Unrestricted land may be sold by
us in the future to finance
acquisition of other parcels of land
worthy of preservation.
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You can make a gift to the
Land Trust of a qualified
conservation interest in your
property, while retaining the
“fee interest” in the property.
For example, you can make a
gift of your development rights
in your property, in the form of
a conservation easement
(clicking on link will take you to
the Land Trust Alliance). The
easement must be “in
perpetuity” (forever). The Land
Trust would then have
enforcement powers (and
responsibilities) with respect
to the restrictions you place on
the use of the property. A
conservation easement has to
meet strict requirements under
the Internal Revenue Code in
order to be deductible.
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Gifts of appreciated property
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Gifts of appreciated property, such
as real estate or securities, have
an added benefit in that they are
tax-deductible (clicking on link will
take you to the Land Trust
Alliance) at their value at the time
of the gift without recognition of
capital gain, so long as you have
held them for over one year. Gifts
can be made for endowment
purposes, for acquisition
purposes, or for our general uses
and purposes. For current
information about tax incentives,
click here: Land Trust Alliance
FAQ: tax Incentives
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Gifts taking effect at death
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Bargain Sale
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You can provide for a gift of money
or property to the New Hartford
Land Trust in your will or under a
trust agreement, to take effect on
your death. Gifts taking effect at
death will not provide an income
tax benefit, but may provide a
deduction from estate taxes.
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A bargain sale is part sale,
part gift. To the extent that you
sell your land (or a a
conservation easement our
land) to the Land Trust for less
than its fair market value, you
have made a gift. A bargain
sale may make it possible to
preserve property in
circumstances where the
landowner cannot afford to part
with the full value of the
property.
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Remainder interest
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Substantiation
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A gift of a “remainder interest” in a
farm or residence will also qualify
for a charitable deduction. A gift of
a remainder interest takes effect
on your death, or the death of
another person to whom you grant
a life use. This can be
accomplished by deed or by trust.
The amount of your deduction will
depend on the value of the property
at the time of the gift and the life
expectancy of the person who has
life use of the property.
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Gifts of property in excess of
$5,000 must be substantiated
by a qualified appraisal in
order to qualify for a deduction.
Any restrictions placed on a gift
of land will reduce its value.
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Gifts of Time
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Gifts of your time are also greatly appreciated. The New Hartford Land Trust
needs volunteer stewards to help monitor its many properties on a regular
basis. We also need help with clean-up and maintenance of NHLT
properties, fund raising activities, and acquisition activities. Please help us
by putting your most valuable gift—yourself—to work for our common goal!
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Land Trust Alliance
1331 H Street NW
Suite 400
Washington DC
20005-4734
info@lta.org
Telephone:
202-638-4725
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