Planned Monetary Giving
Hanson Memorial can continue to flourish through careful planned giving. Some possible ways to preserve HMHS memories and meet charitable giving goals are outlined below. Consulting with a qualified tax professional, investment manager, or legal advisor will aid in exercising your best option.
This type of giving is most common in creating a legacy at one’s alma mater, and planned gifts still make sense even in challenging economic times. Economic downturns affect a school’s expenses the same as one’s household. Ranging from repairs to higher taxes and insurance premiums, charitable donations make a significant difference in offsetting added costs seen in trying economic times. Consulting with a qualified tax professional, investment manager, or legal advisor will aid in exercising your best option.
IRAs
For many individuals, the wisest planned gifts are derived from retirement assets. Considering the donation of income or principal distribution is a perfect choice for planned giving.
Annuities
Annuities, purchased from a third party, such as an investment or insurance companies, can name Hanson Memorial High School as a beneficiary. Existing annuities can also be renamed to Hanson. The benefits of an annuity is that it allows the donor to retain sole access to the fund’s principal and interest while alive, and transfers the fund to HMHS after one’s death.
Life Insurance
Periodically reviewing beneficiaries on life insurance is prudent. Perhaps the beneficiaries of your life insurance policies no longer have the need they once had. Designating HMHS as a partial or full beneficiary of one or more policies is a good idea.
Stock
One of the easiest gifts for a donor to execute, stocks can be simply renamed and gifted to Hanson. Stock which has substantially increased in value would be a wise choice as a planned gift to avoid capital gains taxes.
Real Estate
Real Estate and oil and gas ownership interests can be transferred directly to Hanson and may qualify for a charitable contribution. Consulting with a qualified tax professional, investment manager, or legal advisor will aid in exercising your best option.
Non-performing Assets
You may consider selling an asset which has decreased in value or which is under-performing. The proceeds of the sale can be donated to HMHS and you may be eligible for a charitable contribution deduction and/or loss of deduction to offset other capital gains.
Charitable Remainder Trusts
While more complex, trusts could provide a tax deduction while a donor is alive, and continuing to enjoy income from the investment, yet designate the principal to be received by HMHS upon one’s death.
Bequests
Consider using your will to leave a percentage, a fixed amount, or all of your estate to HMHS. The benefits of bequests are best arranged through your attorney.
The principal will happily provide direction in directing dollars and welcomes your dialogue in helping solve most pressing needs.
We welcome funds particularly that address 1) attracting and retain highly qualified teachers, 2) provide tuition assistance for students, 3) a variety of in-house needs from instructional improvements, technology being foremost, to facility renovation and upgrades.
Your participation is crucial. Thank you for keeping Hanson Memorial High School in mind in your annual giving or in estate planning. The whole school community to bridge this gap, from alumni to community businesses to Parish residents who understand the value Hanson brings to the Franklin and the surrounding area, state, and nation. Each gift, no matter the size or type, makes a difference.
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