Gifts That Benefit You and Chapin

An enduring planned gift is a simple charitable bequest, which is a gift made through your will. Bequests are popular because they offer the opportunity to leave a lasting legacy. When you make a charitable bequest, you retain full use of your property during life, so there is no disruption to your lifestyle and no immediate out-of-pocket cost.

To make a bequest, simply direct part of your estate directly to Chapin. Since a charitable bequest can take many forms, you have remarkable flexibility in how you make this designation. For example, you can leave:

• a specific asset;
• a specific sum of money;
• a percentage of your estate;
• or what remains of your estate after you have provided for all of your other beneficiaries.

You can designate the way in which you want your bequest to be put to use, or you can provide an unrestricted bequest that can be used whenever and wherever it's needed most by the School. Most importantly, you can change your bequest whenever you choose as you remain in complete control of the planning process.

Contact us for more information about making a bequest.

Gifts of long term, highly appreciated securities are the most common type of outright property gift. Typically, individual stocks are given; however, bonds or mutual fund shares are also attractive gift options. Outright gifts of securities can be made quickly, and these gifts let you do more with your gift because of the very attractive tax benefits.

For appreciated property held long term, the full fair market value of securities given to charity is generally deductible for itemizers. For example, if you give shares of stock that are now worth $10,000, you can deduct the full amount of the gift on your income tax return (subject to certain income limitations), even though you may have bought the stock for $1,000.

A charitable gift of securities held long term is not considered a sale of the securities and does not generate any capital gains tax, no matter the amount of the gain. This is a valuable tax incentive provided by Congress to encourage gifts of appreciated property. The result: a charitable deduction is allowed for capital gains that would have been taxed. And, if Chapin were to sell the securities, it keeps every penny of the proceeds since the School is tax exempt. To make your gift, transfer the stock to us—do not sell the stock. 

Contact us for more information about gifts of securities.

A qualified charitable distribution from an IRA is a good way for IRA owners age 70½ and over to support Chapin. It’s easy to do and your gift will make an immediate impact. Simply instruct your IRA custodian to make a distribution directly to the School.

Although there is no tax deduction, the distribution is excluded from your income for federal tax purposes—no tax is due! Up to $105,000 of your gift (annual aggregate limit in 2024) qualifies for this favorable tax treatment.

A qualified charitable distribution from an IRA counts toward a donor's RMD if one is due. Consider a tax-free distribution from your IRA to Chapin if you are 70½ or over. 

Please contact us to learn more about planning and completing a qualified charitable distribution, or click here to calculate your required minimum distribution.

More and more donors use qualified retirement account assets in their charitable gift planning. The reason: retirement account assets left to loved ones may be subject to higher taxation than other types of assets.

By using retirement account assets to make a gift to Chapin (and selecting alternative assets to leave to family members), you may be able to reduce taxes that otherwise would be imposed on those assets and leave more to your intended beneficiaries.

Contact us for more information about gifts of retirement account assets.

Life insurance is also an excellent tool for accomplishing philanthropic goals while realizing other important financial objectives. Indeed, life insurance can empower individuals to make charitable gifts they never would have dreamed possible.

Making a gift of life insurance is quite simple. If you are the insured policy owner, you simply transfer physical possession of your policy to Chapin and file an absolute assignment or transfer of ownership form with your insurance company. Your company then will send a letter to Chapin showing that the School is the sole owner of the policy.

Hypothetical Example:
Cynthia owns a $100,000 life insurance policy with a cash value of $40,000. No further premiums are due, and she no longer needs the coverage. She can assure that Chapin will receive $100,000 at her death by making the School the beneficiary. Or she can transfer ownership of the policy to Chapin now. When she transfers ownership, Cynthia receives an itemized charitable deduction equal to the lesser of her cost basis or the policy's replacement value.

Contact us for more information about gifts of life insurance.