MARTHA'S VINEYARD CAMP MEETING ASSOCIATION
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Ways to Donate through Life Insurance

​Once a life insurance policy has served its original objective, you might consider giving it a new life with a charitable purpose. ​One easy option for planning a gift is to name the Martha's Vineyard Camp Meeting Association as the primary beneficiary. Note that naming MVCMA as beneficiary while you retain ownership of the policy, however, will not qualify you for an income tax deduction. 

Another option is to name MVCMA as the beneficiary and also assign ownership of the policy to MVCMA as a current charitable gift. Doing so will provide you with tax benefits* as outlined below.

* You should always check with a tax expert when a goal is tax benefits, as the laws change regularly.
 
LIFE INSURANCE DEATH BENEFITS 

Your need for life insurance changes as time passes, making way for a new opportunity for its use. If you no longer need the coverage to protect your loved ones, consider changing your policy's beneficiary to support our work.
  
Naming the MVCMA as beneficiary while retaining ownership of the policy is actually the easiest way to use life insurance to make a future gift. Here are your two main options:

  1. Name the MVCMA either as the sole beneficiary or a partial beneficiary of your policy.
 
  1. Name MVCMA as the contingent beneficiary, in which case we receive the death benefits only if your primary beneficiary dies before you do.
 
Did you know?
 
The benefits of life insurance left to an individual can be subject to estate taxes, but when you change the beneficiary to a charitable entity such as ours, the benefits are tax-free.
 
How We All Benefit
 
Naming MVCMA the beneficiary of your life insurance policy provides you the satisfaction of making a very generous donation and leveraging the full value of your policy. Alternatively, when a life insurance beneficiary is not a qualified charity, the amount your loved ones receive in the end could be less due to estate taxes. But when you name the MVCMA as beneficiary, we receive the full amount and estate taxes are eliminated. (With this arrangement, you will not receive a charitable income tax benefit during your lifetime because you are not giving away the policy ownership. Your estate, however, will receive an estate tax charitable deduction.)
 
What About Term Insurance?
 
As the name implies, term life insurance is usually purchased with a particular time frame in mind. When a policy outlives its useful time frame, rather than let it lapse, you could simply name us as the beneficiary. If you keep up the payments, we will receive the full face value of your policy at your death. When term insurance is provided by your employer, it could be to your benefit to donate any coverage over $50,000, the amount above which you are required to pay income tax. You get all the benefits of giving while avoiding the tax.

CONTACT US


ASSOCIATION OFFICE
80 Trinity Park Oak Bluffs, MA 02557
Tel: 508-693-0525 x 10   
Email: office@mvcma.org

PROGRAMMING & SPECIAL EVENTS
Tel: 508-693-0525   
Email: generalmanager@mvcma.org

MAILING ADDRESS:
Martha's Vineyard Camp Meeting Association
P.O. Box 1685
Oak Bluffs, MA 02557
 OFFICE HOURS
​
Sept 1 - June 30
M - F: 9:00 am - 3:00 pm

July 1 - August 31
M - F: 9:00 am - 4:00 pm

Saturdays
9 AM - 1 2 PM (June - August only)
© COPYRIGHT 2022
MARTHA'S VINEYARD CAMP MEETING ASSOCIATION
OAK BLUFFS, MA
ALL RIGHTS RESERVED


Photo Credit:
  ​Many images on website by Vici Surr
  • Tabernacle
  • VISIT
    • Visitor Information
    • Cottage Museum & Shop
    • Walking Tours
    • Stay Here >
      • Apartments for Rent
      • Rules for Renters
      • Cottages for Rent
  • Spiritual Life
    • Sunday Services
    • LIVE Stream
    • Bible Study
    • 2022 Recorded Services
    • 2021 MVCMA Recorded Services
    • 2020 Recorded Services
    • Spiritual Life Special Events
    • Campground Memorial Booklet
  • Events
    • Events Calendar
    • Grand Illumination
    • Sunset Concert Series
    • Campgrounders' Event Registrations >
      • Kids & Teens Events
  • SUPPORT
    • Giving Opportunities
    • Planned Giving
    • Volunteer Opportunities
  • History
    • History Narrative
    • Photo Collections Online
    • Historic Timeline
    • Social Justice, Diversity and Inclusion
    • MVCMA and Race Relations
  • About Us
    • Mission
    • MVCMA Directors and Staff
    • Financials
    • Scholarship Application
  • COTTAGE OWNER
    • Cottage Owner Info
    • Renting Your Cottage