Harbor Branch Oceanographic Institute Foundation
ATTN: HBOIF Representative
RE: Gift Planning
3545 Ocean Drive, Suite 201
Vero Beach, FL 32963
Federal Tax ID: 59-1644333
The Harbor Branch Oceanographic Institute Foundation is a tax-exempt, charitable institution as designated by the Federal Internal Revenue Service. The following language is for the illustration of various forms of bequests only. Always consult your professional advisor when making or revising your will.
EXAMPLE 1: Estate Residue
Residue is a term to describe the portion of your estate that remains after all debts, expenses and specific bequests to others have first been fulfilled.
All the rest, residue and remainder of my estate for federal tax purposes I give to Harbor Branch Oceanographic Institute Foundation, located in Vero Beach, Florida, Tax ID 59-1644333, for its general purposes.
EXAMPLE 2: Outright Gift of Cash
I give to Harbor Branch Oceanographic Institute Foundation, located in Vero Beach, Florida, Tax ID 59-1644333, the sum of $_____________, for its general purposes. (Or you may restrict the gift for a designated purpose).
EXAMPLE 3: Real Property
I leave to Harbor Branch Oceanographic Institute Foundation, of Vero Beach, FL, the real property described as follows: [property description]. I direct my Executor/Personal Representative to sell the above-described real property and distribute the proceeds to Harbor Branch Oceanographic Institute Foundation, located in Vero Beach, Florida, Tax ID 59-1644333, for its general purposes. (Or you may restrict the gift for a designated purpose).
Life Insurance/Pension Plan
A will typically does not dispose of assets such as life insurance and pension plans, which usually pass by "beneficiary designation." A beneficiary designation is a contract between you and your insurance company or pension plan administrator to transfer the asset at your death to the person(s) or institution(s) you have designated (usually in the initial paperwork you completed to establish the asset). To designate Harbor Branch Oceanographic Institute Foundation as a recipient of an asset with a designated beneficiary, you should contact your insurance company or plan administrator and request a "change of beneficiary" form.
Appreciated Stock/IRA Contribution
There may be tax advantages to donating appreciated stock. Or IRA owners may make direct gifts of up to $100,000 to charity from their IRA at age 70 ½ and over to a qualified charity and be exempt from income tax. Please consult your professional advisor for details.
NOTE: The Federal Tax ID is to be used in lieu of a social security number for an organization.
To speak to a HBOIF Representative, call Cyndi Permenter, at (772) 466-9876 or firstname.lastname@example.org.