Planned Gifts — "Leave A Legacy" Society

 

You can provide for the future of New Garden Friends School in many ways through planned giving. Different methods are appropriate for different personal circumstances. The opportunities listed below may help as you consider ways of carrying out your philanthropic intentions. Donors help secure the long-term financial health of the School through gifts that come in the future or over a period of years. There are many kinds of planned gifts (all of which offer significant tax benefits to the donor), including the following:

 

Bequests — Assets transferred through a donor’s estate. Any asset may be given in this way, though we most commonly receive cash gifts set out in a donor’s will. Other bequests include the proceeds of life insurance policies and retirement plans. See sample bequest language to share with your attorney or financial advisor.

Gifts of life insurance policies provide excellent means of making significant future contributions while realizing current tax benefits.

  • Make the charitable institution the beneficiary of an existing policy and earn an estate tax charitable deduction.
  • Make the charitable institution the owner and beneficiary of an existing policy, thus removing it from your taxable estate and earning an immediate income tax deduction approximately equal to the cash value of the policy. (Future premium payments are tax deductible.)
  • Take out a new policy with the charitable institution as the owner and beneficiary. (All premium payments are tax deductible.)
  • Use life insurance in conjunction with a life income gift to "replace" for your heirs an asset that you have given to the charitable institution.

 

Please check with your insurance agent for details.

Life Income Gift — Charitable Remainder Trusts are a way for donors to make gifts that will benefit the School in the future while providing tax benefits and income for the donor immediately and over time.

Gifts of a Future Interest in Real Estate — Some donors make gifts of personal residences or second homes, retaining the right to use them for their lifetime.

Charitable Lead Trust — Through this gift, a donor removes specified assets from his or her estate, receives immediate tax savings and provides the School income from those assets for a period of years. At the end of the gift period, the assets may be returned to the donor or, tax free, to a third party. Parents and grandparents find the charitable lead trust an excellent way to provide for a future generation while accomplishing good work today and decreasing their likely estate taxes.

If you have questions or comments about giving to New Garden Friends School, we encourage you to contact Lore Fariss, Director of Advancement, at 336.299.0964 or advancement@ngfs.org.