Ways to Give
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.
Many of the gifts that Marshall School receives each year are unrestricted gifts of cash or marketable securities. Make your gift today using our secure on-line gift form or by mailing in the pledge form attached here.
Deferred gifts are a popular way to contribute to Marshall School’s endowment. These gifts may be arranged through trusts, annuities and other estate planning vehicles.
Many corporations match gifts made by employees, retirees and family members.
Gift-in-Kind donations are a popular way to contribute to the Marshall’s annual Auction and Dinner. These gifts are goods or services that benefit the school when purchased by guests at the auction.
Ways of Giving – Outright Gifts
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
Gifts may be made using Discover, MasterCard, VISA, American Express or Discover 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.
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 Elizabeth Tessier, Financial Director, 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.
Real estate, including vacation homes, undeveloped land or commercial property may be an excellent way to make a substantial gift to the school.
Marshall School recommends that you consult your attorney or financial advisor in regard to any complex charitable giving decisions.
Ways of Giving – Planned Gifts
Charitable Gift Annuity
Charitable Remainder Trusts
Charitable Lead Trusts
The Cornerstone Society recognizes the alumnae, parents and other members of the 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.
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.
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, Marshall School 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.
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.
Ways of Giving – Gift-in-Kind Donations
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 the Development Office first so that Marshall School can work with you on making the best use of your donation of goods or services.