Planned giving enables you to maximize your gifts to Canterbury School through bequests, life-income arrangements, gifts of real estate or personal property, or other forms of giving, while still maintaining financial security. Planned gifts often allow you to:
- Expand your giving capacity
- Receive an immediate tax deduction while avoiding capital gains
- Provide a lasting effect on Canterbury School
Gifts of Retirement Assets
Donating part or all your unused retirement assets – such as a gift from your IRA, 401(k), 403(b), pension or other tax-deferred plan – is an excellent way to make a gift.
Gifts of Insurance
If you have a life insurance policy that has outlasted in original purpose, consider making a gift of your insurance policy. For example, you may have purchased a policy to provide for minor children, and they are no financially independent adults.
Or, perhaps you want to make a gift of highly appreciated real estate but wish to retain the value of that asset for your family. You can use tax savings generated from the gift of real estate to purchase an insurance policy, which could replace the value of the gift for the benefit of your family.
Gifts Outlined in Wills
A will is one way to continue to provide for organizations beyond one’s lifetime. Through a will, you can retain full use of your property and with your attorney’s assistance, you can provide for your family and make charitable gifts. You also always retain the right to change your mind.
There are several ways to provide a charitable gift in a will: It can be for a stated amount, for specific property or for a specific percentage of your estate. Your attorney can advise you of the different approaches and what might work best for you. Wording for making a restricted or an unrestricted bequest to Canterbury School might be:
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 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.
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. The name of the society reflects the school’s founding year and the long-term commitment of the society members. Through their thoughtful and caring support of Canterbury School’s mission, our financial viability is secured long into the future. To notify us of your estate plans, please contact Melinda Perry.