Thank you for considering a gift to help support the mission of Palmer Trinity School. We know that you want to help make a difference in the lives of our student body, faculty and administration, now and in the future. But, we also want to help you benefit from making a gift to the School. You may be surprised to learn that some of the best gift plans improve the donor’s financial and tax situation.
The most common donations are outright gifts, such as cash or check, which we receive right away. Many times, as well, people want to hold on to their money and other assets for now, just to be sure they can meet their family’s future needs. These people are usually delighted to learn that there are excellent alternatives that allow them to still make a gift. One of these options could be right for you, too!
They’re known as planned gifts. Planned gifts can be revocable—a charitable bequest in your will, for example—so that you can change your mind at any time. Or, planned gifts can be irrevocable—just as outright gifts are—so that you benefit from an immediate income tax deduction.
The attraction of irrevocable planned gifts is that they are deferred. You part with an asset today, but the actual giving of the asset to Palmer Trinity School is put off for a while, often until after your lifetime (and that of a beneficiary, if you wish). Until that time, the donor receives benefits from the gift.
For example, with a charitable remainder trust, your receive lifetime income from the asset after it is placed in a trust, and then Palmer Trinity receives the remainder of the trust. Or, you could deed us a remainder interest in your home and still retain the right to live in it for life. Whatever the case, the key feature of planned giving is important benefits to the donor as well as the charitable organization.
Palmer Trinity School provides the chart below to summarize the benefits of some of the main types of charitable gifts. If you can imagine a type of gift, there’s probably a way to make it happen. We can examine your particular situation and, together with your financial advisor and/or attorney, help your family find ways to support the mission of the School, while ensuring your family’s financial security.
Lauren Billingslea Dowlen
Director of Alumni Relations
and Associate Director of Development