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There are many ways that you can make a gift to Penobscot East Resource Center and we have some suggestions.  It’s not important exactly what method you choose – but we are extremely grateful that you choose to support us.

Give by Mail

Once upon a time in our region, fishermen were fishing year-round, landing groundfish and lobsters by the boat load, The coastal communities that relied on this catch were thriving and we could all savor the taste of fresh locally caught fish whenever we wanted.  Like the family farm, small scale fishing offers something even beyond sustainability - a personal connection to the natural environment and pristine quality fresh fish. 

All this has changed. For years, Penobscot East Resource Center has been working for the survival of small fishing communities in eastern Maine with programs that serve an area extending east from the Penobscot Bay islands to Canada.  And we are optimistic about the future.  As hope begins to replace despair, and grass roots education, and policy and science advocacy start to deliver results, we can foresee a time when prosperity will be restored.

Our mission is simple, but the work to accomplish it is complex, diverse, and expanding.  In spite of stressful economic times and during one of the most difficult periods for our fishing communities, our projects are growing and delivering results, and their impact is felt on a regional and national scale. We are excited about their potential.

At Penobscot East we have a vision of the future firmly rooted in the here and now. Actions that we take today - and pay for today - will ensure that there will be fish to catch and the fishermen to catch them. We are very aware that it’s not just the fishermen we are serving, but also the store-owners, hairdressers, contractors, inn-keepers, banks, professionals, and others who depend on fishing to keep their communities alive.

In the best of times it would be difficult to continue these important programs without your support. And when times are tough with foundations and grant-makers suffering along with the rest of us, we need your help more than ever. Americans are very generous  and it has been reported that  those who can, do more during economically stressful  periods to make up for those who cannot. If you would like to make a tax-deductible charitable donation, please write your check and mail it to us at:

Penobscot East Resource Center
PO Box 27
Stonington, ME  04681

Endowment Program

In September 2008, Penobscot East Resource Center was recognized by the Maine Community Foundation with a $25,000 Endowment Challenge Grant, celebrating the Foundation’s 25^th anniversary, and honoring our commitment to the sustainability of the fishing industry. 

In April 2010, we met our endowment challenge and have since created a $50,000 permanent endowment fund on which to build our long term financial stability.  An endowment committee was been formed in the fall of 2008 and Ted Hoskins, a board founder serves as its’ chair.

This newly established “Fund for the Future” will be the foundation for attracting gifts and planned giving bequests to create an ongoing source of income and a secure financial future for Penobscot East. 

We’d like to hear about your interest in what Penobscot East is doing and also share some of the new and exciting plans we’ve got going to assure a future for our fishing communities. And, we’ll try to answer any questions you may have about things like permit banking and lobster marketing strategies, catch shares and hatchery options. 

Of course we are hopeful you’ll want to share in our brand new endowment fund.  But aside from that, we truly want you to feel a part of Penobscot East’s future.

So let’s talk together and take a good look at what lies ahead for us.

 

Planned Giving

Through planned gifts to Penobscot East Resource Center, donors help to secure a future for fishing communities in eastern Maine.  Planned gifts also may provide donors with significant financial benefits through future estate tax savings, current income tax savings, the creation of an income stream for life, and a reduction of capital gains taxes.

Below are brief descriptions of the various ways you can make a financial commitment from your will, living trust, or other estate plans to promote sustainability for future generations.   Please contact Associate Director Veronica Young or Administrative Director Bobbi Billings for a confidential discussion about the potential benefits of a planned gift.  We can put you in touch with the financial institution that makes these arrangements for us.

Three Planned Giving Options

Bequests: Leave a financial and environmental legacy for future generations.
Retirement Plan Assets: Use your tax deferred retirement plan assets to benefit the environment.
Life Income Gifts: When you make a life income gift, you enjoy the security of ongoing income for you or your beneficiary at the same time you support Penobscot East Resource Center.

Bequests
By including a bequest to Penobscot East Resource Center in your will, you’ll leave a legacy for future generations.  There are several forms that this bequest can take:

A specific bequest:
            “I devise and bequeath to Penobscot East Resource Center, a nonprofit corporation             currently located at 13 Atlantic Avenue, Stonington, ME 04681, the sum of             $________             (or,      _______% of my estate) to be used to support the charitable             activities of Penobscot       East Resource Center to promote sustainability for            future generations”

A residuary bequest:
            “I devise and bequeath to Penobscot East Resource Center, a nonprofit corporation             currently located at 13 Atlantic Avenue, Stonington, ME 04681, all (or specify             _______%) of        the rest, residue, and remainder of my estate to be used to        support the charitable activities of           Penobscot East Resource Center.”

Retirement Plan Assets
Because of the estate and income taxes imposed on unused portions of your retirement plans after your lifetime, you may want to make a charitable contribution of those assets. Simply name Penobscot East Resource Center as the beneficiary on the plan’s beneficiary designation form.  If you wish to split the assets between your heirs and Penobscot East Resource Center, consider giving a percentage of the assets.

Life Income Gifts
When you make a life income gift, you enjoy the security of ongoing income for you or your beneficiary while helping us to secure a future for fishing communities in eastern Maine.

Generally, a life income gift pays income to you or your chosen beneficiary for a term of years or for life.  After the conclusion of the term, or upon the death of the last income beneficiary, the remainder in the life income gift is distributed to Penobscot East Resource Center. Life Income Gifts can be funded with cash or securities and may be made during the donor's lifetime or at death for the benefit of one's heirs.

Life income gifts offer several potential benefits:
• Income for life (or a term of years) to you and/or other designated beneficiaries
• An immediate tax deduction
• Reduction of capital gains taxes
• Reduced probate expenses

Charitable Gift Annuities
In exchange for an irrevocable gift of cash or securities, Penobscot East Resource Center will agree to pay a fixed sum each year for life to one or two annuitants you name. The older the annuitants are at the time of the gift, the greater the fixed income that we can agree to pay. 

Charitable Remainder Trusts
A Charitable Remainder Trust is one of the most flexible and beneficial charitable tools available today. In exchange for a gift of cash or securities, a separate tax-exempt trust can be set up for your benefit. The trust will pay income to one or more persons for life, or for a term of years (not to exceed 20). Income or capital gains taxes are paid only on distributions to the lifetime income beneficiaries. This makes the Charitable Remainder Trust an excellent vehicle to provide tax-free investment growth and avoidance of capital gains taxes on highly appreciated assets. After the death of the last beneficiary (or the expiration of the term of years), Penobscot East Resource Center receives the remaining trust assets.

 

Boat Donations Program
Penobscot East Resource Center is pleased to accept donations of boats appraised at $20,000 or more.  A donation such as this offers several key benefits:

• You do not have to worry about selling the property yourself, including: liability issues, low offers, mechanical repairs, storage fees or advertising expenses.
• The satisfaction of knowing that you are making a real difference to fishing communities in Maine
• Elimination of the difficulties of dealing with potential buyers;
• Favorable impact on your tax return following PERC’s sale of the boat.

If boat ownership is no longer desirable to you, now may be the time to consider our Boat Donation Program.  Penobscot East Resource Center is an IRS recognized 501(c)3 nonprofit organization. In keeping with IRS regulations effective January 1, 2005, Penobscot East Resource Center can only recognize the actual sales price of a boat/yacht as the bonafide tax deduction when the respective boat is sold. Should you have any questions, please contact your personal tax advisor.