A gift to Frankford Friends School that is a part of a thoughtful, comprehensive estate plan provides a way of completing a lifetime of giving to the school, or of making a significant gift that was not possible to make at an earlier stage of life. Such gifts can also provide advantages such as a lifetime income to the donor or others and may offer certain tax benefits.
Planned gifts play a vital role in maintaining the school’s financial strength, and in ensuring that a Frankford Friends School education will continue to be available to future generations of students — especially local, low-income students.
There are many ways to participate in the future of Frankford Friends School through a planned or deferred gift, including:
Bequest or other will-related gift
Make a significant gift later, while reserving assets for current needs
For many people, a bequest offers the opportunity to make a more substantial gift than would be possible during their lifetime. Others view a bequest as an opportunity to round out a lifetime of giving with a lasting legacy to Frankford Friends School. Because of the tax advantages associated with a bequest to a charitable institution, assets from your estate that would otherwise go to taxes can instead be left to Frankford Friends School to secure the school’s future.
Frankford Friends School recognizes that your estate plans and bequest intentions are a very personal matter. However, if you are willing to inform us of your plans, we will hold this information in strict confidence. Knowledge of your intentions is very helpful to the school in its financial planning. To inform the school of your bequest intentions or for more information, please call or email Joy Bowman Lim, Director of Development, at 215-533-5368.
Gift of Retirement Assets
Leave less heavily-taxed assets to your heirs
When you, or your spouse, leave an IRA, 401(k), 403(b) or Keogh to your children or your estate, the account is subject first to estate taxes and then to income taxes as funds are withdrawn. However, if you name Frankford Friends School as beneficiary of your retirement plan, the value of your account is not reduced by income or estate taxes. A gift of retirement plan assets is especially helpful when you are concerned about whether you can afford to make a substantial gift. Since retirement plan assets are so heavily taxed, it might be advantageous to leave them to Frankford Friends School and leave less heavily taxed assets to your heirs.
Charitable Gift Annuity
Tax benefits now, fixed payments for life, benefit to your favorite charity later
A Charitable Gift Annuity is a financial instrument that allows a donor to make a gift to a charity that guarantees a fixed payment to one or two beneficiaries — typically the donor and a spouse — for the rest of their lives. The payments themselves are partly tax-free, and the gift provides a tax deduction in the year of the gift (and sometimes in subsequent years). The interest rates are favorable and the payments are fixed and guaranteed, regardless of what the stock market does. Friends Fiduciary Corporation will accept and administer CGAs on our behalf. A CGA gift can include cash, commodities, securities, or real estate.
A gift of appreciated securities can bring greater tax savings than a gift of cash.
Once you decide on your personal financial and philanthropic goals, we can assist you in designing a gift plan that is consistent with these goals and can have a lasting impact on the future of Frankford Friends School and its students. If you are interested in including Frankford Friends School in your estate plans, or if you wish to participate in a life income arrangement, please call or email Joy Bowman Lim, Director of Development, at 215-533-5368.
For more information about planned giving please contact:
Joy Bowman Lim
Director of Development
Charitable Gift Annuities and gifts of stock are managed through Frankford Friends School’s relationship with Friends Fiduciary Corporation.