When Andy Hirsch and Chris West agreed to co-chair the Class of 1969 50th Reunion committee with Jamie Snead, they did so knowing they would lead the class gift effort. Along with other committee members, each in his own way has taken advantage of the tax code to maximize his gift to Gilman through a combination of gift vehicles.
A planned gift is a charitable commitment that benefits Gilman in the future. Planned gifts include bequests under Will or trust, beneficiary designations of retirement plans or life insurance policies, charitable gift annuities, pooled income fund interests, and charitable trusts. Often asset-based (rather than cash-based), planned gifts broaden donors’ philanthropic and financial options and provide those who might not have current gift capacity the opportunity to make substantial, even transformative, contributions to the School in the future.
Ideally involving close collaboration among Gilman, donors, and donors’ financial advisors, planned gifts may entail attractive income tax or estate tax benefits. Some planned gifts include return income streams to donors or their designees, while providing for Gilman down the road. In addition, planned gifts can be readily combined or “blended” with current gifts. Flexible, creative, and strategic, planned giving addresses a variety of financial and other objectives for both Gilman and donors.
Gilman’s venerable Grasshopper Society recognizes in perpetuity the thoughtful foresight of alumni and friends who have made planned gifts. The School has been the grateful beneficiary of planned gifts of all types for decades. Many of these formative donations created our existing endowment.