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Home > About Clarke > Planned Giving
Planned Giving
The following types of gifts are some of the most common methods of making a commitment to future generations of children who need Clarke. These gifts can provide you with the personal satisfaction of making a contribution of lasting significance. Some of them provide you with income during your lifetime, and they offer substantial income and estate tax savings. Bequests
When you include Clarke in your will, you affirm your commitment to our future work. There are several ways to leave a bequest to Clarke. You may give a percentage of your estate, a fixed dollar amount, specific property such as stocks or real estate, or the residue of your estate after you have provided for other beneficiaries. Real Estate
You may donate your home to Clarke and continue to live in it during your lifetime. This will provide you with a charitable tax deduction in the year of transfer and help you avoid capital gains and estate taxes. Retirement Plans
Most retirement plans allow you to designate some or all of death benefits from your plan to an individual or a charitable organization. When you give to an individual other than a spouse, these assets can be subject to effective tax rates in excess of 80%. By designating Clarke as the beneficiary of your retirement plan, the School can receive 100% of the assets. Life Insurance
If you own a life insurance policy and no longer require its protection, you may wish to transfer ownership of the policy to Clarke, or you could buy and contribute a new policy. Such a gift will entitle you to an income tax deduction, and future premium payments will be tax deductible. Charitable Gift Annuity
This is a contract you establish with Clarke that is part gift, part annuity. In exchange for your gift of $10,000 or more, you (or you and one other) will receive a guaranteed fixed amount each year during your lifetime. The amount of income you receive is based on your age at the time of the agreement and is paid to you in semi-annual payments. (Current rates begin at 5.0% for a 60-year-old and increase to a maximum of 9.5% for those 90 years and older.) With this type of gift, you receive a charitable gift deduction when you make the gift, and part of your annual income from the annuity is non-taxable. Charitable Remainder Trusts
These trusts allow you to transfer assets (usually $50,000 or more) to a trustee who pays you (and others you designate) income for life or for a period of years which you determine at the time the trust is arranged. You can set up a trust that will provide you with annual payments based on a fixed percentage which you select, or you can establish a trust that will pay you an annual fixed dollar amount each year. These trusts provide you with income during your life, substantial current income tax savings and eventual estate tax benefits. Most importantly, your gift through a trust will help children in the future at Clarke. For more information on Planned Giving, contact: Susan Frost, CFRE
Vice President of Development
413-584-3450 V/TTY
develop@clarkeschools.org. The above information is general in nature. We will be happy to work with you and your attorney or financial advisor.
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