Support Island Commons

Island Commons goal is to provide services regardless of

our elders' financial means and ability to pay. We rely

on donations from generous supporters like you to

"close the gap" between MaineCare reimbursement rates

& the actual cost of care. Thank you for helping our

elders to age in place on the island they love!

Island Commons is a registered 501(c)(3) nonprofit organization. Donations are tax-deductible to the full extent of the law. All contributions go toward costs not reimbursed by MaineCare.

Donate By Check:
132 Littlefield Rd,
Chebeague Island, ME 04017

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Donate By Securities:
We are able to accept gifts of securities via Maine Community Foundation. Click below for more info.

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Ensure Island Commons is Part of Our Shared Future on Chebeague

If keeping families together on Chebeague is important to you and you recognize the integral role the Island Commons plays in our community by allowing each of us to age in place no matter our circumstances, we invite you to consider the array of options in planned giving to tie your legacy to our work and impact.

We are here to work with you, your family, and your advisers to help you create a plan that meets both your financial and philanthropic goals. This information is not intended to be legal or tax advice. Please contact your attorney if you are considering any of these gift types.

Bequests

A bequest allows you to make a long-term commitment without affecting your current standard of living. You can provide for the future of family members and neighbors by naming the Island Commons as a beneficiary of a specific dollar amount or a percentage of your estate.

Sample Bequest Language:

“I give ________________ to the Island Commons for the general purpose and use of the Island Commons in their mission to provide residential and personal care for elders so they can remain on the island they call home.”

Give the Gift of Retirement Assets

Many people find upon retirement that they do not need all of their retirement assets and choose to make a portion available for charitable purposes. Additionally, because of the complicated and burdensome taxation of retirement assets passed on to a family member, they may find that a beloved charity is an appropriate beneficiary after their lifetime.

 

  • Individuals 70 ½ and older are allowed to transfer up to $100,000 from their IRAs each year to charitable organizations, with the help of their IRA custodian, without counting it as taxable income. Individuals 72 and older often utilize this strategy to offset their required minimum distributions and resulting tax burden.

  • This includes items such as IRAs, 401(k)s, and 403(b)s, provides a very simple way to make a future charitable gift. By naming a charity as a beneficiary of your retirement assets on your death, those assets pass free of estate and income tax, ensuring that the entire amount will be available to benefit the charity’s important work.

Other Types of Gifts

Many donors realize that their beloved charitable causes can benefit from resources that they no longer personally need, such as Life Insurance policies, real estate, and personal property.

  • Gifts of real estate may free you from paying real estate taxes, maintenance costs, and insurance, and can result in capital gains tax savings. A professional appraisal of the property is required.

  • Your charitable deduction is based on a qualified appraisal and may vary, depending on whether the asset is related to the charitable purpose of Island Commons. The property must be considered long-term appreciated property (held by the donor for more than one year).

  • When you donate a life insurance policy to the Island Commons, the cash surrender value or the cost of a replacement policy is deductible as a charitable contribution. If you continue to pay premiums after your gift, these premiums are also deductible.