Gifts that benefit both you and Chapin
Gifts that give back
In life, your financial goals will vary. You may need to plan for retirement, provide for older family members, or support your children or grandchildren as they seek the kind of high-quality education you received. There are ways to provide money for such goals and needs while making a gift to Chapin. Here are some ways, in general, in which they may benefit you:
- Regular life-income payments for you or a loved one who needs your support
- Varied tax benefits
- Higher income, which you can use toward any special needs or projects
- Protection for the funds that you and your family have worked hard to save
- Management of your investments by a trusted source
- A way to support your own interests, including the success of Chapin’s students
Your giving options
Below are some specific details about gift types you might choose. For more information about any of these, please contact us.
Bequests
Naming Chapin as a beneficiary of your will can, when properly planned, reduce the rate at which your estate is taxed. You can make a charitable bequest of a specific dollar amount, a percentage of your estate or the remainder of your estate after planning to care for your family and friends.
Charitable Gift Annuity
A charitable gift annuity can be purchased directly from Chapin for a minimum of $100,000. Annuity income may be provided for up to two persons, and payments may be deferred until a time when the money is most needed. Charitable gift annuities may be purchased with cash or appreciated securities. Charitable gift annuities provide a fixed life income, and the rate of payment may be relatively higher than can otherwise be obtained. You receive an immediate charitable income tax deduction and may gain relief from tax on capital gain.
Charitable Remainder Trust
A charitable remainder trust may be funded with cash or appreciated assets such as securities, real estate or other property. You and other beneficiaries can receive income for life or for a set number of years. You receive an
immediate charitable income tax deduction, immediate income and relief from tax on capital gain. When the trust expires, the assets remaining in trust go to support the mission of The Chapin School.
Charitable Lead Trust
This can allow you to pass wealth to your children or grandchildren with minimized or no taxation. A charitable lead trust provides payments to Chapin for a period that you determine. When the trust expires, the principal is returned to you or transferred to your heirs, possibly with significant tax savings.
Retained Life Interest
You may choose to donate your principal residence or vacation home to Chapin while retaining use of it for the lifetime of you and your spouse. You will receive an immediate charitable income tax deduction and avoid tax on capital gain, and the property is removed from your estate. So long as you retain use of the property, you are responsible for its maintenance and the payment of property assessments.
Pooled Income Fund
Your gift of money, marketable securities or both to The Chapin School’s pooled income fund is invested together with similar gifts from other supporters. Each year, you receive your share, which is taxable as ordinary income, of the fund’s earnings. For example, Mrs. Simon’s $10,000 life income gift is invested in our pooled income fund. The fund’s net income is approximately 4 percent this year, so she receives $400 — her share of the annual earnings. Each year, Mrs. Simon’s payment will reflect any increase or decrease in the fund’s net income.
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