Support

Memorial Bench & Rocking Chair Program

You are invited to consider sponsoring a bench or a rocking chair in commemoration of an occasion or to memorialize a friend or loved-one. In doing so, you will be enriching the enjoyment of visitors to Sherman Library & Gardens. Benches allow guests to rest and enjoy the beauty and tranquility of the Gardens.

Teak Garden Bench

w/ Distinguished Patron Honor Wall Name Plate​
$ 10,000
  •  

Teak Garden Rocking Chair

w/ Distinguished Patron Honor Wall Name Plate​
$ 5,000
  •  

Memorial benches and rocking chairs provide a place of rest and contemplation for thousands of visitors. Each bench and chair is American-made from sustainably-harvested teak. Your gift not only provides an additional seat for visitors, but also supports the care and maintenance of the Gardens, plant collections, historical artifacts and art. Along with a 100% tax-deductible contribution receipt from Sherman Library & Gardens, donors will receive:

  • A copper bench/chair plaque identifying the name of the person(s) honored
  • Bench recognition and maintenance for a period of ten years and rocking chair recognition and maintenance for a period of five years effectively beginning on the day of memorialization, including bench/chair replacement if deemed necessary. Sherman Library & Gardens will review the bench/chair  condition after the ten or five year term and will contact the donor to discuss options for renewing the bench/chair gift.
  • Recognition on Distinguished Patron Honor Wall in perpetuity, as long as the wall is in existence.

For information about a bench or rocking chair, and other memorial and honor opportunities, contact:

Scott LaFleur, Garden Director

949-673-2261 Ext. 301

scott@slgardens.org

Sherman Gardens Teak Garden Bench
One of Sherman Gardens' Teak Garden Benches.

Planned Giving

Extend your impact with the gift of a lifetime

Bequests / Estate Planning:

Provide for the future while preserving your assets now.

Including Sherman LIbrary & Gardens in your estate plan allows you to make a significant and meaningful gift today, while also preserving your assets during your lifetime.

A bequest may provide for donation of a dollar-value amount or a percentage of your estate. A bequest may also be in the form of a gift of the remainder of your estate. Bequests, like other gifts, can be given without restriction or designated for one or more purposes. Since projects and programs may change over time, please keep any restrictions as broad as possible within our core mission of History, Horticulture, arts. And, to ensure that your wishes can be carried out as you desire, please consult us about focus areas before making a restricted provision in your will or estate plans.

Informing us about your bequest or other estate plan to benefit Native Plant Trust enables us to thank you and to recognize your generosity and forethought in our annual donor report. Of course, if you prefer to remain anonymous, you have the option to forgo publicizing your planned gift.

Worry-Free Giving

How to Make an Impact Without Giving Up Security

Helping others need not come at a cost that interrupts your current lifestyle. Here are a few of the many gift options that not only allow you to maintain your standard of living, but can also increase your sense of security.

Making a gift in your estate plan lets you tailor your gift to your own circumstances. Consider your goals in supporting our work. Would you like to:

  • Help sustain the future of Sherman Library & Gardens?
  • Have control over where your assets go and how they are used?
  • Set up a secure income stream?
  • Increase your charitable donation deductions?

Depending on the charitable giving plan you choose, you can achieve these goals while making a significant impact on our mission. Following are some giving options.

Use your will or living trust:

These documents clearly communicate your intentions for how you would like to provide for your loved ones and favorite causes, such as Sherman Library & Gardens. You can leave a gift of a specific item, an amount of money, or a percentage of your estate. You can also make your gift contingent upon certain events.

How you benefit:

Putting all of your wishes in writing reduces the risk of misunderstandings among your loved ones and relieves your worry about providing for the people and causes that benefit from your care. You can feel secure knowing you will maintain control of your assets until after your lifetime and that your gifts are revocable so you can change your mind at any time.

Donate financial assets:

If you have stocks, bonds, CDs, or money market funds that you no longer need, you can donate them directly to us.

How you benefit:

For donations of these assets, if you’ve owned them for more than one year and they are worth more than their original cost, you typically receive a charitable income tax deduction for their full fair market value – not the price you paid for them. Plus, when you give financial assets directly to us, neither you nor Sherman Library & Gardens pays any capital gain tax.

Transfer real estate:

You can give your home, vacation home, or other property directly as an outright gift. Or, you can give the title of your home now and retain the right to live there for your lifetime.

How you benefit:

If you make an outright gift of appreciated real estate you’ve owned for more than one year, you can usually take an income tax deduction equal to its current fair market value. If you deed your property to us while retaining a “life estate,” you can receive an immediate tax deduction for a portion of the home’s fair market value but still enjoy using it for the rest of your life.

Set up a charitable gift annuity (CGA):

If you would like a consistent income stream, you can set up a CGA. In exchange for a gift of cash or assets, you will receive fixed payments annually for the rest of your lifetime and, if you desire, the rest of one other person’s life as well.

How you benefit:

This strategy provides you wish an immediate income tax deduction and tax-favored, stable payments. It also helps support Sherman Library & Gardens’ programs, gardens, and collections in the future.

Form a charitable remainder annuity trust (CRAT):

By putting assets into a CRAT, you and other beneficiaries can receive fixed income for the rest of your lives or a term of years (up to 20). Anything left in the trust after payouts are complete goes to the charitable organizations you named as beneficiaries.

How you benefit:

A CRAT provides an immediate income tax deduction and helps eliminate up-front capital gains taxes – plus it makes an eventual gift to support Sherman Library & Gardens.

Designate IRA assets:

Name us as the beneficiary of all or a percentage (1-100) of your IRA, which gives you flexibility.

How you benefit:

Leaving all or part of your IRA to charity after your lifetime dramatically lowers future taxes. Naming a charity as a beneficiary can eliminate income taxes that could consume a significant amount of your account.

All of these options allow you to meet your charitable goals and provide for those who depend on your care. Right now is the perfect time to plan your giving so your wishes come to pass and you maximize the impact of your resources. Contact us with any questions.

This information is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purchases only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.

California residents: Annuities are subject to regulation by the State of California. Payments under this agreement, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association.

Making a Gift From an IRA to Sherman Library & Gardens

The charitable IRA rollover allows you to make a distribution from your Traditional or Roth IRA as a charitable gift and count towards your required minimum distribution. The disbursement to Sherman Library & Gardens will be excluded from your taxable income.

Specifically:

  • You, as the plan owner, must be at least 70½ years of age on the date of your gift.
  • You may gift up to $100,000. This limit applies to each person, meaning that if both spouses have IRA plans, each may make gifts up to that limit. Please note that 401(k) plans and other non-IRA retirement plans do not qualify.
  • With respect to a traditional IRA, the gift will be counted against your required minimum distribution and that portion of the distribution will not be subject to income tax (in exchange, you forego the ability to claim the gift as a deduction). Roth IRAs are not subject to minimum distribution rules and amounts distributed are not included in income.
  • The gift must go to a qualified public charity, such as Sherman Library & Gardens.

Steps for Making a Gift

The process for making a gift using your IRA is straightforward – but it is important to exercise care to assure that your transaction is completed correctly. It is especially important that you avoid having the funds distributed to you personally, as that could trigger an income tax.

If you have any questions about the following steps, please contact the Sherman Foundation office at (949) 642-1626. We are always happy to work with you to ensure that your gift reflects your passions and priorities for Sherman Library & Gardens.

To Make a Gift From Your IRA

  1. Contact your IRA administrator requesting the distribution.  They may have a form for you to complete or you may be able to use the sample letter below.
  2. Notify Sherman Library & Gardens at (949) 642-1626 so we can expect the distribution check and direct it as you have requested.
  3. A confirmation will come from Sherman Library & Gardens when we receive your distribution.

Sample Letter to an IRA Administrator

{Date}

To Whom It May Concern:

You are requested and authorized via this letter to make a charitable distribution from my Individual Retirement Account {#______}.

I request that a check be issued in the amount of {$______} payable to:

Sherman Library & Gardens
567 San Nicolas Drive, Suite 220
Newport Beach, CA 92660-6510

This distribution made to Sherman Library & Gardens (federal tax identification number 95-2672431) is to benefit Sherman Library & Gardens’ {department or program of your choice}.

Please include my name as the donor of record in connection with this charitable distribution.

I am requesting a copy of your transmittal to Sherman Library & Gardens be sent to me.

Sincerely,
{Your Name}
{Address}

How to Make a Gift of Appreciated Securities

As you consider tax wise ways of giving to Sherman Library & Gardens, you may want to analyze the benefits of giving appreciated securities. Long-term appreciated stock (those held longer than 12 months) are particularly beneficial to give because you receive a charitable deduction for the full fair market value of the gift and, in addition, you avoid paying federal capital gains tax, state income tax, and possibly the 3.8% Net Investment Income Tax on the appreciation. A charitable income tax deduction is allowed for up to 30 percent of your adjusted gross income in the year of the gift. Any unused portion can be carried forward for up to an additional five years.

Securities Transfer Instructions

Broker Contact
J P Morgan
DTC #902 – Account B4905 3006

Sherman Library & Gardens Contact
Scott LaFleur
Phone (949) 673-2261
Fax (949) 675-5458
E-mail Scott@SlGardens.org

Note

Please inform Sherman Library & Gardens when initiating a DTC transfer. Include information concerning security description, shares, and transfer initiation date.

Important

Pursuant to Internal Revenue Service regulations, the effective date of the gift for valuation and charitable deduction purposes is the date the securities are transferred into Sherman Library & Gardens’ brokerage account. If the transfer needs to be made by a specific date, please allow sufficient time for the DTC transfer to take place.

Easy Steps for Transferring Securities

The rules for transferring securities, while not complicated, are strict. You will want to exercise care to assure that your stock transaction is completed correctly. The same rules apply to giving shares of a mutual fund. If you have any questions about the following instructions, please call Gary Pickett at (949) 642-1626.

Establishing the Gift’s Value

The amount of your deduction depends on the value of the securities on the date the gift is completed. This date may be important for your tax planning, particularly at year-end.

The gift value of the securities is the average of their high and low prices on the date of the gift. For mutual fund shares, the net asset value (NAV) at the close of business on the date of the gift is used to establish the value of the gift.

If the Securities are Held by a Bank, Broker, or Mutual Fund Company

Write your bank, broker, or mutual fund company a letter (a sample letter is attached), which contains the following statement:

You are requested and authorized to make a gift of (number) of shares of (name of stock or mutual fund) to Sherman Library & Gardens (federal tax identification number
95-2672431) effective today (date).

Please transfer these shares to Sherman Library & Gardens via the Depository Transfer Company (“DTC”) to its J P Morgan account, DTC#902 account B4905 3006.

Enclose the attached Security Transfer Instructions.

Send a copy of your letter to:

Sherman Library & Gardens
567 San Nicolas Drive, Suite 220
Newport Beach, CA 92660-6510

Phone (949) 673-2261
Fax (949) 675-5458
E-mail Scott@SLGardens.org

The Sherman Library & Gardens, upon receipt of your letter, will promptly contact your bank, broker, or mutual fund company to arrange disposition of the stock or mutual fund.

Note

The gift is complete for tax purposes when the securities are transferred into the Sherman Library & Gardens brokerage account. It does not matter whether the securities are registered in your name, “street name,” or certificate form. The details will be handled by your broker and the Sherman Library & Gardens staff.