Planned Gifts
A planned gift is a wonderful way to make a larger
donation to MKA than you ever thought possible. Planned gifts can come
from your assets, not necessarily from your current income - a different
concept than most of us think of when we consider gifts to our alma mater - but
a wise one. Planned gifts can provide you with immediate tax benefits, followed
by income benefits to you and your spouse in your retirement years. Simply
stated, a planned gift is any charitable gift, current or deferred, that is
planned - usually with professional advice - to optimize a donor's financial,
tax, and estate plans while helping to secure the long term financial strength
of one or more recipient charities. A planned gift to MKA makes donors eligible
for membership in The Heritage Society (see below).
Benefits of Planned Giving:
- Income paid for life to you or
another beneficiary (a spouse or other family member, or both).
- An immediate IRS income tax
deduction (and tax savings) for a portion of the value of the gift...often a
significant part.
- Capital gains tax can be
reduced or avoided when appreciated securities or real property is used.
- Increased income when the gift
is made through an arrangement that pays a higher yield than the normal
dividend generated by the donated asset.
- And most important, in
providing generous endowed support to MKA, you can create a lasting legacy for
yourself, family or a mentor.
The Heritage Society
The Heritage Society was established to recognize
and honor those who have provided for The Montclair Kimberley Academy in their
estate plans. Gift commitments may be made by bequest intention in a will or
living trust, as well as in a variety of ways that provide tax benefits and
income for life to the donor.
Membership in The Heritage Society is an important
way to ensure the future of the school through a philanthropic gift, while
receiving maximum tax and estate benefits that enhance your well-being.
Heritage Society members recognize the importance of growing MKA's Endowment in
order to provide the highest level of support for all aspects of an MKA
education. Membership is granted to those who have chosen to make a planned
gift to MKA in one or more of the following ways:
- A bequest intention of cash,
securities, closely held stock, real estate or tangible property.
- Life income gifts such as:
o Charitable
Gift Annuities
o Charitable
Remainder Unitrusts of Annuity Trusts
o Charitable
Lead Trusts
o Pooled
Income Fund contributions
If you have already made a provision in your will
for The Montclair Kimberley Academy, we hope you will share those plans with
us. We welcome the opportunity to assist you in evaluating other options of
deferred giving which best suit your needs and intentions.
For more information on making a planned gift to
MKA, please contact Geoff Branigan, Director of Development & External
Affairs, at gbranigan@mka.org
or at 973- 509-7940. Or you may write to: The Montclair Kimberley Academy,
Attention External Affairs, 201 Valley Rd., Montclair, NJ 07042.
In all matters related to charitable
giving, donors are advised to consult their own legal, tax, and financial
advisors.
