Westwood Land Trust, Inc.

Westwood Land Trust, Inc., Westwood, MA

Contributions to Westwood Land Trust


The Westwood Land Trust (WLT) is a 501(c)(3) public charity. Contributions to WLT are eligible for charitable income, estate and gift tax deductions to the fullest extent allowed. Individuals and corporations should consult their tax advisors, since specific tax benefits may vary depending upon circumstances and AGI limitations

I. Gifts

  • Cash - A donor may deduct cash gifts to WLT (subject to the 50% AGI limitation).

  • Stock or Mutual Fund Shares - For securities owned more than one year, a donor may deduct the full fair market value (subject to the 50% AGI limitation) and avoid capital gains taxes on the donated shares.

  • Real Estate

    • Entire Fee Interest - Subject to WLT's approval, a donor may give residential or commercial property to WLT. Properties that do not have open space value or that are located outside of Westwood would be sold and the proceeds used for land protection in Westwood. The donor would receive an income tax deduction for the full fair market value of the property (subject to the 30% AGI limitation for donations of appreciated property). The donor would completely avoid capital gains taxes on the property.

    • Remainder Interest. Subject to WLT's approval, a donor may give WLT a remainder interest in his or her home, vacation home or other real property and retain the right to use the property during the donor's lifetime. The donor would be responsible for property taxes, insurance and maintenance expenses during his or her lifetime. The donor would receive an income tax deduction for the property's fair market value reduced by the value of the donor's retained life estate.

    • Development Rights. A donor may give WLT a conservation restriction limiting the right to develop some or all of the donor's Westwood property. The donor would receive a charitable deduction equal to the value of development rights, subject to the 30% AGI limitation for gifts of appreciated property. A donor could also sell his or her development rights to WLT for less than full value and would receive a charitable deduction for the "bargain" portion of the sales price.

  • Charitable Trusts and Donor-Advised Funds. A donor may designate WLT as the beneficiary of a charitable trust, including a private foundation, charitable remainder trust or charitable lead trust. A donor may also designate WLT as the recipient of his or her donor-advised fund.

II. Wills, Bequests, Beneficiary Designations

  • Bequests. A donor may designate WLT as a beneficiary of his or her will or living trust. The bequest can consist of specific assets, a dollar amount or a percentage of the estate or trust.

  • Life Insurance. A donor may name WLT as the primary or contingent beneficiary of part or all of his or her life insurance policy. The donor's estate would receive an estate tax deduction for life insurance proceeds distributed to WLT.

  • IRAs and Retirement Plans. A donor may name WLT as the primary or contingent beneficiary of part or all of his or her IRA or retirement plan. Retirement assets left to someone other than the donor's spouse may be subject to both income tax and estate tax. A non-charitable beneficiary may receive less than 10% after taxes. Both taxes would be completely avoided if the retirement plan were left to WLT.

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The Westwood Land Trust, Inc., is a charitable organization pursuant to Section 501(c)(3) of the Internal Revenue Code, and all contributions are tax-deductible to the full extent of the law.

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Westwood Land Trust, Inc.