Planned Giving
Our Friends for the Future Society recognizes the vision and generosity of donors who have shown their commitment to the future of DVFriends by including the school in their estate plans. These donors have named the school as a beneficiary of a will, trust, retirement plan, life insurance policy, gift annuity, or other planned gift.
If you have made such provisions for DVFriends, please tell us! We would like to recognize your philanthropy during your lifetime. We will invite you to become a member of the Friends for the Future Society so that your example may inspire others to make the same commitment.
Click on the options below to learn more:
BENEFICIARY DESIGNATIONS
You can designate DVFriends as a full or partial beneficiary of a qualified retirement plan (e.g., IRA, 401(K), Keogh, SEP), life insurance policy, or bank or brokerage account. Beneficiary designations can be changed at any time, and override any directions left for these assets in your will. This makes them powerful gift planning tools.
In addition, they are the simplest planned gifts to arrange: just fill out a Change of Beneficiary form from your plan administrator, and indicate what percentage of the assets you would like DVFriends to receive - no attorneys required.
Retirement assets left to family members will incur tax liability, thus eroding their value. If your estate plan includes gifts both to charities and heirs, protect more of the full value of your assets by leaving retirement assets to charities (like DVFriends), as they will receive the full value, tax free. Then, leave other less-taxed assets to your heirs.
When making a gift of life insurance, you continue to pay any premiums on the policy as required. DVFriends will receive proceeds from the death benefit tax-free, and the proceeds are fully deductible from your estate. Because you can change the beneficiary on a life insurance policy at any time, there is no immediate tax deduction available for this gift.
BEQUESTS
You can leave DVFriends any of the following:
- A specific bequest of a certain amount of cash, securities, real estate, or personal property
- All or a portion of your residual estate (that which is left over after other estate obligations have been satisfied, or other heirs have received their specific bequests)
If you already have a will, you can make a bequest to DVFriends by adding a simple codicil (a formal addendum to a will). If you are newly creating your will, inform your attorney of your intention to leave a bequest. Find sample bequest language in our Advisor FAQ, linked at the bottom of this page.
CHARITABLE GIFT ANNUITIES
You can make a gift that will pay you income for the rest of your life, give you tax benefits, and allow you to make a significant gift to DVFriends with a Charitable Gift Annuity.
A Charitable Gift Annuity (CGA) is a simple contract between you and DVFriends. You make a gift to DVFriends which is then invested; for the term of the agreement, DVFriends will pay you and/or your spouse a fixed amount; DVFriends receives the remaining assets after the term ends. The terms of the contract establish the rate, amount and timing of all payments. Beneficiaries must be 65 years or older, and payout rates increase with age or a deferred start to payments. You will receive an immediate income tax deduction for a portion of your gift, and a portion of each annuity payment will be tax-free.
Minimum gift amount to fund a CGA: $20,000
If you have a large estate, want significant tax benefits and the ability of annual payments to grow over time, another life income gift - a Charitable Remainder Trust - may be a good option. Minimum funding starts at $100,000. We encourage you to contact your lawyer or financial advisor to discuss.
