Frequently Asked Questions

1. What are the three kinds of gifts I can give to the Yellowstone Park Foundation (YPF)?

Generally speaking, during your lifetime you can make an outright gift of cash, securities or other property (e.g., real estate, personal property).

Upon your death you can make a gift through your will or revocable trust, or through a distribution from a retirement plan or life insurance policy.

2. What sort of assets can I use to make a gift?

Almost anything: cash, publicly traded securities, the balance in your retirement account. Other assets can be very valuable but are more complicated to administer and must be reviewed by us before we can accept them as gifts: real estate, closely held stock and artwork.

3. What tax deduction will I receive for my gift?

It depends on the form your gift takes:

• Outright gifts to the YPF generate a full income-tax charitable deduction. Outright gifts of appreciated securities are deductible at fair market value, with no recognition of capital gains - a great tax benefit!
• Gifts of personal property, like art, books and collectibles, are fully deductible so long as they are relevant to our mission. We can advise you on this point.
• Bequests do not generate a lifetime income tax deduction. They are exempt from estate tax, however.
• Similarly, life insurance distributions to the YPF are not income-tax deductible, but are exempt from estate tax.
• A lifetime gift of an insurance policy to the YPF generates a deduction for the value of the policy. If you give a policy with premiums still owing, you may also deduct annual gifts that offset our premium payments (for more details on this point, see Question 5 below).

4. Can the Yellowstone Park Foundation serve as the Executor of my estate?

No. State law, the limitations of our corporate powers, and our internal policies prevent us from taking such a role in your affairs.

5. I want to set up a life insurance policy, name the YPF as beneficiary, but retain ownership of the policy. Can I deduct the premium payments I make?

No. The IRS would not consider that a "completed gift" - they'd say that, as the owner of the policy, you could change the beneficiary designation to a friend or family member. The YPF must be made the irrevocable owner of the policy for gifts offsetting premium payments to be deductible.

6. If I create a bequest, will the YPF continue to ask me for annual contributions?

We will, because the commitments address two different needs. Your planned gift is a significant addition to our long-term financial strength -- our ability to meet the challenges and opportunities the future will bring. The obligations and expenses that we encounter today, however, are met through your annual gift. We are very grateful that you want the YPF to succeed both today and in the future.