Philanthropy: the Legacy of Giving
The Clarence Boyd Jones Society
Gifts of Stock, Mutual Funds and Bonds
Qualified Retirement Plan Assets
Charitable Remainder Unitrusts
Charitable Remainder Annuity Trust
Many of you have supported Hadley for years, thus ensuring that Hadley programs continue for the betterment of the students, their families and the professionals who help them. The good done in the present can be perpetuated by remembering The Hadley School for the Blind through a variety of planned giving options. Those who make such ongoing commitments to Hadley replicate the promise Clarence Boyd Jones made to Hadley years ago and, thus, through their planned giving commitments, have become members of The Clarence Boyd Jones Society. By helping secure the future of the school and by ensuring that blind or visually people continue to have access to crucial educational programs free of charge for years to come, these friends of Hadley have established a legacy of giving.
As you know, the nation's tax laws were designed to provide incentives that encourage philanthropy. The following information details the benefits various charitable financial planning vehicles can offer in structuring a planned gift to benefit Hadley students and to minimize your federal tax liability. You should always consult your advisors on tax-related matters affecting your specific situation. We welcome the opportunity to supply you with additional information about these giving options and to discuss with you and your advisors how you might consider making a gift to Hadley.
For more information about joining any of the following giving options, please call Tom Tobin, 847-784-2765. For specific legal questions, we urge you to speak with your attorney or financial advisor.
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The power of philanthropy transcends time—it begins today to shape and form tomorrow's realities. The desire to leave a legacy of education, security and self-reliance to future generations of blind or visually impaired students is expressed in many ways by Hadley benefactors. The Clarence Boyd Jones Society recognizes those who make decisions to provide for Hadley students and programs through planned or deferred gifts, including bequests, charitable trusts, gift annuities and other vehicles.
The Clarence Boyd Jones Society is an integral part of Hadley’s structured giving program. Comprised of friends in the community and those closest to our mission, it recognizes individuals who include Hadley through their planned gifts.
Planned giving at Hadley provides the resources to ensure future excellence in educational program design and delivery. It also ensures Hadley's place as a leader in the distance education field. We invite your participation in this devoted group of friends dedicated to sustaining the continued excellence of our programs and the education they provide and to ensuring the best possible future for current and future Hadley students.
Back to TopA bequest is the most traditional way to perpetuate the worthwhile causes that are meaningful to you. With a planned gift through your will or living trust, you retain full use of your gift property during your life. Designing your charitable bequest around your personal needs is of paramount importance to us, and we look forward to assisting you to meet your individual goals and to fulfill your charitable intentions.
General Bequest: The most familiar type of bequest is the general bequest, which specifies that Hadley will receive a designated sum.
Percentage Bequest: This is an excellent alternative to the general bequest. The percentage bequest states that Hadley will receive a certain predetermined percentage of your estate, regardless of how large or small it becomes.
Specific Bequest: When making a specific bequest, you are directing that one particular property be transferred to Hadley. Caution: Since a specific bequest can be satisfied only with the property designated, if that property has been sold or otherwise removed from the estate, Hadley would receive nothing in its place.
Contingent Bequest: A contingent bequest anticipates an unexpected occurrence. If specific conditions exist, a contingent bequest ensures that property passes to Hadley rather than probate.
Back to TopYou may have some marketable securities that have grown substantially in value, especially if you have held them a long time. Current tax laws make it possible for you to make an important gift at remarkably low after-tax cost. A lifetime gift of appreciated securities not only qualifies for the income tax deduction associated with all lifetime charitable gifts but also avoids the long-term capital gains tax on any paper profit. Usually, a sale of appreciated securities results in a tax on your full gain—therefore, you get to keep only part of the profit. But if appreciated securities are given to a qualified charitable organization, there is no tax on your gain, even though your "profit" is part of your charitable deduction.
To avoid capital gains, the securities should be transferred directly to The Hadley School. No matter how much the property has appreciated in value, you will pay no capital gains tax on your paper profit. For more details, please consult with your tax advisor.
Back to TopYour estate can save both income taxes and estate taxes if you make Hadley School a death beneficiary of your individual retirement account, pension, 401(k) or other retirement savings plan. You can also arrange for lifetime income to be paid to a family member after your death, or Hadley can be listed as an alternative or contingent beneficiary.
Back to TopUnder a unitrust, you place money or property with a trustee, with instructions to pay someone (usually yourself) income, generally for life. That income will be a set percentage of the trust's value and may change from year to year, as the value of the trust fluctuates. In addition, donors may add to a unitrust at any time. When the person receiving the income dies, the property remaining—the "remainder"—will then pass to Hadley.
By designating Hadley as the remainder beneficiary, you will be entitled to a charitable income tax deduction. In addition, through this vehicle, you may benefit from:
The minimum support level for a Charitable Remainder Unitrust is $25,000.
Back to TopAnnuity trusts provide a fixed dollar amount to your beneficiary(ies). Under such arrangements, a benefactor transfers cash or readily marketable securities to a trustee (in this case, the Hadley School) who invests these assets. The amount of income payment is determined by taking a percentage of the market value of the asset(s) transferred. This irrevocable, fixed dollar amount will be predetermined and stated in the trust agreement. Advantages are similar to those for the Charitable Remainder Unitrust. As in the case of the Charitable Remainder Unitrust, when the beneficiary(ies) die, Hadley will receive the benefit.
The minimum support level for a Charitable Remainder Annuity Trust is $25,000.
Back to TopA charitable gift annuity reflects a contractual agreement between you and Hadley. You agree to make a gift of cash or appreciated securities to the school. In turn, we invest these funds and agree to pay a fixed percentage of income to you every year. The yearly income amount is determined by your age at the time of your contribution and whether there is more than one beneficiary. The older you are, the higher your rate. Payments will remain fixed throughout the life/lives of the beneficiary(ies).
The minimum support level for a Charitable Gift Annuity is $25,000.
In planning your charitable gift annuity, you may elect to begin receiving income right away. Or, instead of receiving an immediate payment, you might choose to defer payout until a later date, such as when you retire. This is especially advantageous if your tax bracket is higher now than it will be later. In addition, the annual income rate will be considerably higher when the payments begin.
The minimum support level for a Deferred Charitable Gift Annuity is $25,000.
Under either scenario, a variety of tax and financial benefits are available to you. Through a charitable gift annuity, a portion of your income payments may be tax-free. Capital gains taxes can be minimized if you use highly appreciated assets to fund your gift. Furthermore, you may be entitled to a substantial charitable income tax deduction in the year you make the gift.
Back to TopA Charitable Lead Trust pays the trust's income to Hadley and distributes the remainder, after a specified number of years, to non-charitable beneficiaries. A lead trust allows property to be transferred to family beneficiaries at a lower transfer cost, with the resultant avoidance of capital gains tax on the appreciation. This is particularly attractive to benefactors who transfer property with a high appreciation potential.
The minimum support level for a Charitable Lead Trust is $25,000.
Back to TopYou can name Hadley School as the beneficiary of your life insurance policy(ies). An even better idea may be to transfer actual ownership of the policy to us, or to buy a new policy for our benefit. If you do so, your gift will entitle you to an income tax deduction, and all future premium payments will be tax deductible.
Back to TopFunding an endowment establishes your legacy at The Hadley School for the Blind, enabling you to be a part of Hadley’s future and the future of the thousands of blind or visually impaired students we serve. Benefactors create endowments for Hadley School or for particular Hadley programs to perpetuate their own personal values and to contribute to Hadley’s ability to educate, serve and improve the lives of its students.
Endowed gifts are held in perpetuity. Hadley invests the initial gift and spends only a portion of the average annual investment return. The remaining income is reinvested with the principal as protection against the eroding effects of inflation. Thus, the benefactor who makes an endowment gift today will ensure Hadley’s future, as the assets will grow and continue to support the intended purpose, in perpetuity.
Endowments function to blend the values of the benefactor with the needs and objectives of Hadley. Thus, a dynamic, ongoing relationship is established based on our shared beliefs, hopes and visions of what the future holds. Working together, The Hadley School for the Blind and the benefactor partner to create a distinctive endowment that reflects their common goals and objectives.
Minimum support levels for various types of endowments have been established to guarantee that income will be adequate to achieve the benefactor's intent—now and in the future.
Back to TopIt was the spirit of philanthropy in years past and the visionary commitment of previous generations that built Hadley and made it what it is today. During those early years, a Hadley supporter went door to door to solicit funds for this highly valued community, national and international resource.
As in years past, today, your support remains critical to our success in meeting the needs of people who are blind or visually impaired. Your charitable gifts allow and encourage Hadley to offer special programs—like the new series on Macular Degeneration, all of the planned courses designed to be available through the Internet, new courses in braille and revised courses addressing safety, chess and other life enrichment issues. You enable Hadley to hire the most dedicated professionals, to purchase the latest technology and to provide education and services for blind and visually impaired people all over the world. You have brought support and education to more than 10,000 students, on an annual basis, in all 50 states and 100 countries. Your gifts truly do make a difference in the lives of blind people.
Thank you for your generous support of Hadley School and for taking the time to learn more about how you can become involved in ensuring the best possible education for blind and visually impaired individual - now and in the future.
Copyright © 2009 The Hadley School for the Blind. All rights reserved.
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