Endowing the Future
The Barnesville School’s Planned Giving program allows parents, grandparents, alumni, and friends to support the School while planning for their own future. Just as tuition and the Barnesville School Fund provide income for today, endowment funds and planned gifts provide income for tomorrow. Consider the impact of a planned gift: Your generosity will help ensure the future of the Barnesville School, perpetuating its mission for generations to come.
At Barnesville, we are "dedicated to providing a joyful and supportive learning environment for the development of excellence in each of us." When you make a planned gift, you will be investing in our students, our future, and in the values and ideals that are fundamental to the school. Your planned gift will help us sustain competitive tuition rates while maintaining our outstanding faculty and strong academic program.
The Advantages of Planned Giving
A planned gift to the Barnesville School benefits both you and the School. It can:
- Generate income for life or a specified number of years
- Convert low yielding assets into a higher income stream
- Obtain significant income tax deductions
- Reduce or eliminate capital gains and estate taxes
- Allow you to make a more significant and lasting contribution than is possible during your lifetime.
Planned Giving at Barnesville
Planned gifts may be directed to established, unrestricted, or restricted endowment funds, or may be used to establish new restricted endowment funds based on the current needs of the School and the interests of the donors. Currently, the Barnesville School has two restricted endowments: The Georgeann Gude Wood Memorial Endowment Fund, which benefits the Barnesville School Library, and the R. Edwin and Winsome Brown Endowment Fund, which supports the Barnesville School’s Tuition Assistance Program. The earnings on all endowment funds will be used in perpetuity to support our mission of joy, support, and excellence.
Planned Giving Opportunities
Bequests The most commonly used planned giving vehicle is a testamentary bequest — a gift by will or trust. Persons who wish to support the Barnesville School, but who are not in a position to part with assets during their lifetimes, can accomplish their philanthropic intentions through a bequest. The bequests are paid directly to the School when the donor’s estate is settled. A bequest through your will or trust may be made by adding a codicil to your existing will, by creating a new will, or by including the Barnesville School in your irrevocable trust.
Remainder Trusts An alternative to the traditional will is the Remainder Trust. It enables you to contribute assets to the Barnesville School while providing an income for yourself and/or other beneficiaries you name for life or a term of years. They may be funded with cash or other property but when funded with appreciated assets, such as low yielding, highly appreciated common stock, the stock can be sold without capital gains tax and the proceeds reinvested for increased income. The combination of significant tax savings and increased income often provides donors with sufficient funds to purchase life insurance (with their children as beneficiaries) to replace a sizable portion of the original asset in their estates.
Lead Trusts The Charitable Lead Trust allows your gift to the Barnesville School to be placed in trust for a specified number of years. During this time, Barnesville would receive a specified amount of annual income from the trust; at the end of the term of the trust, the property would revert to the donor or to family members.
Life Insurance In the event that you reach a point when life insurance no longer has the financial significance for your family that it once did, you may want to consider making a gift of your policy. The Barnesville School would be named as the beneficiary of the life insurance policy, and the charitable deduction would be equal to the case surrender value of the policy.
Real Estate A gift of real estate may be an attractive way to make a substantial commitment to the Barnesville School and realize tax benefits at the same time. Your residence, vacation home, farm, acreage, or vacant lot may have appreciated in value through the years so that its sale would mean a sizable capital gains tax. By making a gift of this property instead, you would avoid or significantly reduce the amount of income, capital gains, and estate taxes you otherwise would have to pay. At the same time, you would receive a charitable deduction for the full fair market value of the property.
The Arches of Barnesville Society
The Arches of Barnesville Society was founded to honor the generosity and foresight of all participants in the Barnesville School’s Planned Giving Program. If you have already made a provision in your estate planning for the Barnesville School, we hope you will share those plans with us at this time. Donors will be recognized each year in the Barnesville School’s Annual Report of Gifts with the hope that it will encourage others to emulate their generosity. Requests for anonymity are, of course, honored.
Sound planning can provide financial security for you and your family as well as ensure the future of the Barnesville School. When reviewing or revising your overall holdings, please consider a charitable planned gift to the Barnesville School.
Because every person’s situation is unique, and donors often find that a combination of planned gifts produces the best result, we welcome the opportunity to consult with you, your family, and your financial/legal advisors to design for you the most advantageous ways of giving.
For further information, please contact Debbie Don, Admissions and Advancement Associate, 301-972-0341 ext 237.