Each year, the Civilian Marksmanship Program (CMP) conducts a multitude of events for young and experienced shooters, and many ask what they can do to give back to the organization. With CMP’s Planned Giving program, there are several options in doing just that.
CMP’s Planned Giving program allows a variety of ways to contribute, including:
- Making a gift that costs nothing during your lifetime
- Giving stock and realizing larger tax savings
- Donating your house to give as well as receive tax breaks
One opportunity to give can come after your lifetime by simply placing a donation in your will or trust. By bequeathing a specific amount or percentage to CMP, you can maintain control of your assets during your lifetime and can even modify it, if need be.
As another possibility, if you’d like to give while you’re still living, you can give stock and appreciated bonds or mutual fund shares owned for more than a year. In turn, CMP will sell your securities and use the proceeds for its program, while you receive immediate income tax deduction.
Also, as an additional alternative, donate your house by transferring future interest to CMP – live in your home while you transfer your residence, farm or vacation home. When your life estate ends, CMP will claim the property. CMP will gain the asset, but you retain the security of using it for your entire life. With this option, you will also receive an immediate income tax reduction.
Other options of giving include transferring ownership of paid-up life insurance, naming CMP as a beneficiary of your IRA, 401(k) or other plan or offering valuable property, such as a painting or antique.
Those wishing to give can donate any amount by downloading an order form from the “Donate to CMP” link on the CMP website. There are many ways to benefit you while also benefitting CMP and its mission. For more information on these options and others, as well as examples of appropriate language to use in official documentation and other tips, visit http://odcmp.plannedgiving.org/.
Direct questions can be answered by contacting Deven Beam, CMP accounting tech, at 256-835-8455 ext. 1010 or email@example.com.