| For today. For tomorrow.
For Hilltoppers.
There are several options for making a gift to Marshall
School. Many gifts have substantial tax benefits for
the donor. Click on the options below for more information.
Outright
Gifts
Many of the gifts that Marshall School receives each
year are unrestricted gifts of cash or marketable securities.
Planned
Gifts
Deferred gifts are a popular way to contribute to the
endowment portion of Our Second Century Campaign. These
gifts may be arranged through trusts, annuities and
other estate planning vehicles.
Matching
Gifts
Many corporations match gifts made by employees, retirees
and family members.
Gift-in-Kind Donations
Gift-in-Kind donations are a popular way to contribute
to Marshall Magic Auction. These gifts are goods or
services that benefit the school when purchased by guests
at the auction. Occasionally, throughout the school
year, gift-in-kind donations can support programs or
departments. If you are interested in making a gift-in-kind
please contact Development Office first so that Marshall
School can work with you on making the best use of your
donation of goods or services.
Contact John
Wm. Gustafson, Director of Development, at 218-727-7266
ext. 112 for more information on giving to Marshall
School.
Ways
of Giving – Outright Gifts
Cash/Check
Giving by check is an easy way to make a donation.
Checks made payable to Marshall School may be mailed
in care of Marshall School, Development Office, 1215
Rice Lake Road, Duluth, MN 55811.
Credit Card
Gifts may be made using MasterCard or VISA or by calling
the Development Office at (218) 727-7266 Ext. 112. Credit
card gifts are a convenient way to contribute to the
School. You may make a gift today through our secure
on-line gift form.
Securities
Gifts of appreciated securities are one of the ways
donors can make sizable gifts to the school and derive
practical financial advantages. In addition to your
regular income tax deduction, you may reduce or avoid
paying capital gains tax. For more information contact
John Wm. Gustafson, Director of Development, at (218)
727-7266 ext. 112, or Annie Hagen, Business Manager,
at (218) 727-7266 ext. 106.
Tangible Personal
Property
Personal Property, such as artwork or antiques, can
be a gift that generates an income tax deduction based
on the appraised fair market value of the property at
the time of the gift. By donating property directly
to the school, you may reduce or avoid capital gains
tax. For more information about gifts of personal property,
contact John Wm. Gustafson, Director of Development,
at (218) 727-7266 ext. 112.
Real Estate
Real estate, including vacation homes, undeveloped land
or commercial property may be an excellent way to make
a substantial gift to the school. For more information
about gifts of real estate contact John
Wm. Gustafson, Director of Development, at (218)
727-7266 ext. 112.
Marshall School
recommends that you consult your attorney or financial
advisor in regard to any complex charitable giving decisions.
Ways
of Giving – Planned Gifts
CORNERSTONE SOCIETY
The Cornerstone Society recognizes the alumnae,
parents and other members of Hilltopper community who
establish a deferred gift arrangement with Marshall
School. Planned gifts include bequest intentions, charitable
remainder trusts, gift annuities, the pooled income
fund, and other forms of deferred support. A bequest
intention or planned gift of any size qualifies a donor
for membership in the Cornerstone Society. Unrestricted
gifts are usually added to the School's endowment. Other
gifts may be made to a variety of established funds,
or the donor may wish to establish and name a new fund.
These naming opportunities may be discussed with representatives
of the School at the donor's convenience.
The Hilltopper tradition of excellence in education
is built on a firm foundation of scholarship, leadership,
and service to the community. Future generations of
Hilltoppers will benefit from your generous commitment
to education.
BEQUESTS
One of the easiest ways to join the Cornerstone Society
is to designate Marshall School as a beneficiary in
your will. If your will is already written, you may
add the school as a beneficiary by instructing your
attorney to include a codicil (an amendment) to your
bequest intentions. Wills and codicils typically include
language such as:
"I give and bequeath
to The Trustees of Marshall School of Duluth, MN, (the
sum of ____ dollars) or (all the rest, residue and remainder
of my estate) to be used for the general purposes of
the school at the direction of its Board of Trustees."
You may specify that an
exact dollar amount, a particular asset, or a portion
or all of your residuary estate be given to Marshall
School. You also may specify that you would like Marshall
School to use all or a part of your bequest to first
provide a life income for a family member.
CHARITABLE GIFT
ANNUITY
A Charitable Gift Annuity will provide you a guaranteed
fixed quarterly income for life, while also allowing
you to make a significant gift to Marshall School. Annuity
payments are backed by the school's endowment and are
guaranteed, regardless of fluctuations in the stock
market or interest rates. In addition to a steady income,
a gift annuity provides valuable tax benefits. It entitles
you to a charitable income tax deduction, favorable
tax treatment of a portion of the payments you receive,
and a potential estate tax savings. Marshall School
accepts gift annuities in the amount of $10,000 and
higher, and offers all alumnae and friends of the school,
age 68 and older, the same income rate of 6%.
Here's how it
works:
If a 72-year-old alumna establishes a 6% Gift Annuity
for $100,000 with Marshall School, and she uses appreciated
securities to fund the gift, Marshall School will pay
her 6% of $100,000, or $6,000 per year, in quarterly
installments of $1,500, for her lifetime. In addition,
she will receive a charitable deduction of about $40,000,
and because she used appreciated stock to establish
her gift annuity, she avoids the capital gains tax on
a portion of the appreciation. On her death, the annuity
principal will be added Marshall School's scholarship
endowment, or other endowed fund, exactly as she has
designated.
RETIREMENT ASSETS
Gifts of retirement plan assets may be particularly
appealing because these assets are often subjected to
several taxes: (1) federal income tax; (2) federal estate
tax [upon your and your spouse's death], and (3) state
income and estate taxes. This can generate leaving only
25 cents on the dollar available for one's heirs. There
are several ways to give these retirement assets to
Marshall School: (a) name Marshall School as the primary
or secondary beneficiary of your plan by contacting
your plan administrator and completing a new beneficiary
form; (b) take structured withdrawals from your plan,
beginning at age 59 ½ or 70 ½ and make
outright gifts to the school that generate an offsetting
charitable deduction; and (c) set up a Charitable Remainder
Trust in your will into which you transfer any residual
in your retirement plan at your death, naming your surviving
spouse or children as income beneficiaries for life
or a term of years and Marshall School as the charitable
remainderman. Marshall School, under any of these arrangements,
will receive a full dollar for every dollar remaining
in your retirement account.
CHARITABLE REMAINDER
TRUSTS
A Charitable Remainder Trust (CRT) is a separately invested
and managed charitable trust that pays income to you,
or to beneficiaries you name, for life or a term of
years. At the termination of the trust, the principal
goes to the School. A CRT provides unusual flexibility.
You can use a variety of assets to fund a CRT: cash,
publicly traded stocks and bonds, closely-held stock,
real estate, and, in some instances, tangible personal
property, such as works of art. You can tailor it to
suit your needs: build retirement income, generate a
higher income from assets you currently own, or provide
for your spouse, family members or other beneficiaries.
You can name a bank, Agnes Irwin or yourself as the
trustee.
There are two basic types of Charitable Remainder Trusts:
(1) A Unitrust (CRUT)
which pays a variable income (typically between 5-7%
per year) based on a fixed percentage of the trust assets
as revalued once a year. One advantage of a unitrust
is that your income can increase as the trust principal
grows over time. Also, you may make additional contributions
to the unitrust principal at any time.
(2) An Annuity Trust (CRAT)
which gives you the opportunity to choose to receive
a fixed dollar amount from the trust each year. Those
who are interested in the security of a fixed annual
income often prefer the annuity trust. Additional contributions
cannot be made to annuity trusts.
CHARITABLE LEAD
TRUST
A Charitable Lead Trust (CLT) is a powerful way to make
a future transfer of assets to your heirs at a significantly
reduced gift and estate tax cost. During a specified
number of years, an annuity or a fixed percentage of
the trust assets is paid to Marshall School. At the
end of the trust term, the assets are passed to the
beneficiaries you name. There are two types of lead
trusts, Non-Grantor and Grantor. In a non-grantor lead
trust, the assets revert to your children, grandchildren,
or other heirs. In a grantor lead trust, the assets
revert to you, rather than to your heirs, at the end
of the term. A grantor lead trust may be useful if you
wish to accelerate future charitable deductions.
For people who have significant
assets, a CLT offers gift and estate tax relief. For
example, a non-grantor CLT has these advantages: (1)
you receive a charitable gift tax deduction for the
annual trust payments to Marshall School; and (2) the
income earned by the trust is excluded from your gross
income and is, therefore, not taxable to you (In effect,
this produces a reduction of your taxes over the trust
term.); and (3) any appreciation in the assets during
the term of the trust is not subject to additional gift
or estate taxation. As a result, you can pass on to
your heirs a larger estate after taxes than would otherwise
be possible. You can fund a CLT with publicly traded
securities, closely-held stock, income-producing real
estate, partnership interests or a combination of these.
You can establish a CLT during your lifetime, as a testamentary
trust under your will, or through a pour-over from a
"dry" trust established during your lifetime.
The foregoing estate planning
ideas, descriptions, and illustrations are provided
as an educational service and should not be interpreted
as financial or legal advice. Please consult your own
financial and legal advisors for the plans and instruments
most appropriate to your particular circumstances.
If you would like to learn
more about these estate planning ideas, or how other
alumnae and friends of Marshall School have provided
for the school in their estate plans, please contact
John
Wm. Gustafson, Director of Development, at (218)
727-7266 ext. 112.
Ways
of Giving – Matching Gifts
Donors who take advantage
of their corporation's matching gift program significantly
increase the impact of their gift. Many employees, retirees
and family members of companies are eligible for matching
gifts. The appropriate forms and guidelines can be obtained
through the matching gift company.
Click here for a list
of Corporate Matching Gift Programs
that are currently matching gifts to Marshall School.
Contact John
Wm. Gustafson, Director of Development, at (218)
727-7266 ext. 112 for more information about how you
can support Marshall School.
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