Planned Giving
Gifts to the Lake Superior Zoological Society
Planning your gift to the Lake Superior Zoo is a phenomenal way to make a lasting impact for generations to come.
Join us in our commitment to our mission and leave a gift that will impact the community, both near and far. Your legacy gift will help us to provide meaningful experiences with animals from around the world for the next generation of Northland children.
As a nonprofit 501(c)(3) charitable organization, gifts donated to the Lake Superior Zoological Society are eligible for an income tax charitable deduction if you itemize your taxes. Gifts are used to fulfill and advance the zoo’s mission. They may include any items voluntarily donated, including securities, bequests, and retirement plans. Noncash gifts are reviewed by a donation committee before they are accepted. Gifts may be given during a donor’s lifetime, giving the donor the satisfaction of seeing a gift in action. Or, they may be given after a donor’s lifetime, leaving a lasting legacy. The society would like to recognize all donors for their gifts. Or, if you prefer, your gift may remain anonymous.
The society’s CEO, Haley Hedstrom (218-730-4500 ext. 203), is happy to meet with you and/or your financial planner to discuss your charitable goals.
Gift Options
Cash Gifts
A cash gift may be made in the form of cash, check, money order, or credit card. They’re a quick, easy way to give a gift that provides an immediate income tax charitable deduction.
Securities
A gift of appreciated stock or other securities offers an immediate income tax charitable deduction for the full market value, and is exempt from capital gains tax. The society’s policy is to liquidate securities upon receipt.
Life Insurance Policy Beneficiary Designation
This is a gift in which all or a portion of your life insurance policy transfers to the society at the end of your lifetime. The gift is recognized as a donation once the society is named as a designated or contingent beneficiary, the policy becomes irrevocable, and the society receives evidence of the gift. Valuation of life insurance gifts may require the advice of outside financial and/or legal advisors upon acceptance.
Retirement Plan Beneficiary Designation
This is a gift in which all or a portion of your retirement account’s unused balance transfers to the society at the end of your lifetime. The gift is recorded as a donation at the time it transfers to the society and it is not subject to income or estate taxes. Simply identify the society as a designated or contingent beneficiary on your plan’s beneficiary form.
Bequests through Wills or Trusts
A bequest is a gift of personal property that transfers to the society at the end of your lifetime through your will or trust. A charitable bequest is a special bequest with a charitable purpose that also reduces the estate taxes owed after your lifetime. A bequest is recognized as a donation at the time it becomes irrevocable. Here is sample language for your will or trust to share with your attorney: I hereby give to the Lake Superior Zoological Society, 7210 Fremont Street, Duluth, MN 55807, Federal Tax ID #41-0944885 all (the sum of $____) (____% of my residuary estate), to be used for its charitable purposes.
Transfer on Death (TOD) Accounts
A TOD (also called Payable on Death, POD) account allows you to maintain complete control of your bank or brokerage accounts during your lifetime, and then immediately transfer the remaining balance of your accounts to the society at the end of your lifetime. Contact your financial institution to request a TOD (or POD) account and identify the society as the recipient.
Charitable Trusts & Annuities
Gifts may also be given to the society in the form of charitable lead trusts, charitable remainder trusts, and charitable gift annuities. Please contact the society for more information about these options.
When identifying the society for your giving option, please use the following information:
Lake Superior Zoological Society, 7210 Fremont Street, Duluth, MN 55807, Federal Tax ID #41-0944885
Make a Donation
The Lake Superior Zoological Society is a 501(c)3 non-profit organization. Donations to the zoo are tax-deductible to the fullest extent of the law. Our EIN is 41-0944885.