Planned Giving

Planned giving encompasses quite a collection of gift ideas. It begins with a desire to give a gift to the school or the school's endowment, often in support of a favorite program, and develops into a conversation about how best to make that happen.

These types of gifts typically involve tax advantages to the donor and are often – but not always – developed in conjunction with one's estate plans. Some planned gifts are immediate or outright, such as a gift of real estate. Others are deferred, such as a bequest in one's will. Others generate life income back to the donor, such as a charitable gift annuity.

Many people hold the misconception that making a "major gift" to the school is impossible when thinking of their financial security and that of their heirs. What you may discover with a planned gift is that often:

    • Your giving capacity expands.
    • You receive an immediate tax deduction while avoiding capital gains.
    • Your gift can have a lasting effect for Canterbury.
Please review your personal estate objectives and circumstances with your legal and financial advisors.

For additional information or to request a free bequest kit, please contact Director of Development Melinda Perry at 260-436-8786 or mperry@canterburyschool.org.

THE 1977 SOCIETY

The 1977 Society was founded in 2000 to recognize and honor those individuals who have remembered Canterbury School in their estate plans, either in their will or through another type of planned gift.


The name of the society reflects the founding year of the school and the long-term commitment of the society members. Their thoughtful and caring support of the school's mission in this manner will help ensure the financial viability of Canterbury long into the future. The school is profoundly honored by and grateful to all 1977 Society members for their very generous and caring support.

If you have already made provisions for Canterbury School in your estate plans, we hope that you will share those plans with us. You can notify us of your estate plans by contacting Melinda Perry, director of school development. This information is confidential and places you under no legal obligations.
WAYS TO GIVE

Wills

It's not a coincidence that the type of planned gift most commonly used is also one of the simplest to set up – a bequest in one's will. Most people have a will. It was most likely prepared upon the birth of a child or some other significant life event.
A will is the place where one makes plans for property and family after death. It is also a way to continue to provide for organizations that one supports throughout one's lifetime. Many of us want to continue support of our favorite organizations but are uncertain as to our own future financial needs. That is why a gift through a will is the most popular planned gift.

Through your will, you retain full use of all of your property throughout your lifetime and, with your attorney's assistance, can provide for your family along with any charitable gifts you wish to make. You also retain the right to change your mind.

There are a number of ways to provide for a charitable gift in a will. The gift can be for a stated amount, for specific property or for a specific percentage of your estate. Your attorney will advise you of the different approaches and what might work best for you. Recommended wording for making a restricted or an unrestricted bequest to Canterbury can be found below.

Sample Language

I give and bequest to Canterbury School, a nonprofit corporation in Fort Wayne, Indiana, the sum of _____dollars ($_______)/_______% of my estate/or the property described below for such purpose as the trustees of Canterbury School shall determine to be in the best interest of Canterbury School.

If you wish to make a restricted bequest, we strongly urge you to add the following wording as one of the terms of the gift in your will:

If at some future time, in the judgment of a majority of the trustees of Canterbury School, the income or principal of the fund established by this bequest can no longer be utilized to the best advantage of Canterbury School for the purposes or in the manner specified, then the income or principal or both may be used for such related purpose and in such other manner as the trustees may deem appropriate that will most nearly accomplish my wishes.

Individual Retirement Accounts

Individual Retirement Accounts (IRAs) make a wonderful way to leave assets to Canterbury School. Consider making Canterbury the beneficiary of part or all of an IRA and avoid the high estate taxes placed on these accounts by the government.

Life Insurance

Life insurance is a frequently overlooked asset. Many times the original need for the policy no longer exists, and in such cases a gift of the policy can be very rewarding, particularly if the policy is fully paid up. Life insurance may also be used if you want to make a gift of another asset (such as highly appreciated real estate) but wish to retain the value of that asset for your family. By using the tax savings generated from the gift of real estate to purchase an insurance policy, you may be able to replace the value of the gift for the benefit of your family.



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