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| Planned Giving is Creative Giving You, your financial advisor and MassArt staff can work together to create a very special gift to MassArt. By investing careful thought and planning, you may be able to give a special stretch gift that far exceeds any gift you may have given to MassArt before. Your planned gift will help Mass Art continue its legacy of excellent arts education, while also providing certain benefits to you and your family. Your benefits of a planned gift may include:
Planned Giving provides opportunities for you to choose the best assets with which to make a gift. Planned Giving expands possibilities using charitable gift vehicles that you can integrate into personal financial and estate planning. Since no two planned gifts are exactly alike, assets that may be used for a planned gift include, but are not limited to:
In addition to discussing how to make your planned gift, you can also determine where the funds will go. Many donors choose to let the College decide, and leave an unspecified gift, citing that a gift is for general purposes. However, you may also specify the purpose if you wish. Your planned gift can help provide funds for
Please contact Karin Blum at 617-879-7080 for more information, or to schedule a personal visit. Gift Vehicles for Planned Giving Appreciated Stock Your gift of appreciated stock to MassArt Foundation is an easy way to generously support the work of the College while providing you with benefits that decrease the gift's actual cost.
A charitable gift through your will or trust can reduce your estate taxes and has always been a popular and simple way to make a planned gift. Bequests to MassArt have allowed us to develop programs, fund scholarships, and build critical endowment. A bequest designated for MassArt may be stated as a percentage or fraction of your estate or a specific dollar amount. With an unrestricted bequest, the Foundation may use your gift to address immediate priorities. The language may read as follows:
A bequest for a specific purpose may read as follows::
In all cases it is strongly recommended that consultation with your legal and financial advisors will create the best arrangement for your personal circumstances. You may also consider a Contingent Bequest, where if one of your named beneficiaries dies before you, the College Foundation will receive that share of your estate. Life InsuranceIf you have a paid-up life insurance policy that your family no longer needs, you may use it to make a gift to MassArt. By transferring the policy's ownership and making the College the beneficiary, you become eligible for an income tax deduction typically based on the case surrender value of the policy and it is also removed from your estate. Charitable Gift Annuities (CGA) The desire to support MassArt while retaining dependable income for the rest of your life can be accomplished with a charitable gift annuity. In return for a gift worth at least $10,000, the MassArt Foundation will make fixed annual payments to you, another person or both for life. The amount of the payment is based on the age of the payment recipient(s), the amount of the gift, and is set forth in a simple contract created between you and the MassArt Foundation. A CGA features the following benefits:
Charitable Remainder Trusts (CRT) If your priorities include flexibility, additional income, and control of managing assets, you should consider establishing a charitable remainder trust. A CRT requires a minimum gift of $100,000 in cash, publicly traded securities, closely held stock and/or real estate. A written trust document sets out the specific terms of this gift vehicle and you, another individual, bank or trust company may act as trustee with the obligation to prudently manage and invest the trust assets. The trust document will specify whether a fixed payment or percentage of the trust asset value is distributed annually (a minimum of five percent (5%) applies in both forms.) The income recipients identified in the trust agreement receive the distribution, which may include the donor and/or beneficiary. The trust may run for the life(s) of the income beneficiaries, or for not more than 20 years. After the trust terminates, the remaining assets become the property of MassArt Foundation. A CRT provides favorable tax benefits. No capital gains tax is owed on the transfer of appreciated property to the trust. The donor is eligible for a favorable charitable income tax deduction and gift and estate tax deductions may also be available. If you are interested in receiving a specific fixed annual amount every year for the trust duration, you might consider a Charitable Remainder Annuity Trust. The dollar payout of a Charitable Remainder Unitrust changes with annual market valuations. If the assets increase in value, the payment will increase, if the assets decrease in value on the valuation date, the dollar value of the payout decreases. Subsequent annual payments will fluctuate from year to year. If you have the dual goals of supporting the MassArt Foundation and passing significant assets to heirs while minimizing gift or estate tax, you may want to consider a Charitable Lead Trust. Charitable lead trust payments flow to the MassArt Foundation and/or other charitable organizations instead of individuals during the trust term. After the trust terminates, the remaining principal, which in most cases has appreciated in value, becomes the property of your heirs or other specific non-charitable beneficiaries. Creating a planned gift entitles you to membership in the Longwood Society. Named for the original campus of the Massachusetts School of Art, this Society honors supporters who have been touched by Mass Art and are playing an important part in helping to secure its future. Members are invited to special events at the College, and receive informational updates. Longwood Society members may choose to have their names published in the annual President's Report, or be included anonymously. | |
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