Through a charitable planned gift to Wye River Upper School, you gain deep satisfaction knowing that you will make a great impact on our students for generations to come.
We recommend discussing these options with your financial advisor, to evaluate how they could fit into your broader financial picture.
While an outright gift is always best, it may be that you can support Wye River Upper School at a more substantial level through a planned gift. A range of instruments such as bequests, donor-advised funds, charitable gift annuities, deferred gift annuities, charitable remainder unitrusts, charitable remainder annuity trusts, or lead trusts can provide varying levels of tax relief for you and meaningful, long-term benefits to Wye River Upper School.
If you are 70 ½ or older, you can transfer up to $100,000 directly from your IRA to Wye River Upper School each year. By doing so, you can support your favorite charity while eliminating the tax bite of your IRA’s Required Minimum Distribution (RMD) obligation.
The simplest way to include Wye River Upper School in your estate planning is by making a bequest provision in your will. Once your bequest is received by the school, unless you specify its use, it can be directed to an endowment fund or for current purposes by Wye River Upper School. You may use this simple WRUS Legacy Society form to indicate your planned giving.
Other more complex planned giving vehicles include a range of contract options between you and Wye River Upper School, as follows:
Charitable gift annuities that will pay a guaranteed life income to you and another beneficiary in return for a gift of cash, securities, or real estate. The minimum gift amount is $10,000 and the rate of payout on gift annuities should follow American Council on Gift Annuities guidelines.
Deferred gift annuities will meet your needs if you prefer to receive income at a future date but want to claim a substantial charitable contribution in the year of the gift.
Charitable remainder unitrusts can provide annual income to you and/or named beneficiaries that can increase or decrease year to year, depending on annual valuation of the trust’s assets.
Charitable remainder annuities offer the assurance of fixed-dollar income. With a minimum gift of $100,000, you and/or your beneficiary will receive annually an amount of dollars fixed irrevocably at the time the gift is established and stated in the gift agreement.
A lead trust, also known as a generation-skipping trust, will provide income or “lead” interest to Wye River Upper School for a specified period of time, but the assets can be retained by you or passed to your heirs at a later time.
You may also name Wye River Upper School as the owner and beneficiary of a life insurance policy and take a tax deduction if you continue to pay the premium, provided you itemize.
Donor-advised funds (DAFs) are an increasingly popular way for you to make a contribution to Wye River Upper School. DAFs make you eligible for an immediate tax deduction and then you can recommend grants to the school over time.
This overview has been prepared with appreciation to the Association of Fundraising Professionals (AFP.)