A planned gift may enable you to provide CCSA with more significant support than you ever thought possible, while at the same time allowing you to achieve your estate, tax and financial planning goals.
The TCF office can help you craft a gift that fulfills your philanthropic and financial goals. To learn more, please contact us at: 610-859-2988, or at firstname.lastname@example.org.
We also strongly encourage you to consult a financial advisor about your specific situation.
“Having spent our careers in the finance industry, we have always planned for our future. Knowing we can have a beneficial impact on CCSA both now and over the long term is our idea of sound financial planning.”
Clay & Corliss Boggs, Planned Giving Co-Chairs
The Thompson Society
The Thompson Society recognizes donors who have planned for CCSA’s future by naming The Chester Fund (TCF) as a beneficiary of their will, retirement plan or life-insurance policy.
Members are celebrated on a donor wall prominently displayed in CCSA’s main foyer, listed in our Annual Donor Report, and invited to special events throughout the year.
Margaret “Peggy” Tucker Thompson served as CCSA’s inaugural planned giving co-chair alongside her husband, Pete, and was one of our most beloved volunteers.
Peggy saw the great promise and worth in Chester’s children. She devoted herself to helping our students see in themselves the magnificence and greatness she could see. Thompson Society members share and carry forward her vision.
Have you included CCSA in your estate plans?
Your leadership in providing for CCSA sets an example for others! Please let us know so we may recognize and honor you.
For many people, a retirement account like an IRA or 401(k) is the most significant source of their accumulated assets. Others find that they do not need all of their retirement funds.
Donating retirement assets to CCSA is tax deductible and easy
Donating your retirement assets to TCF can have significant tax advantages, and may mean more funds for CCSA and your heirs alike. To name TCF as a retirement plan beneficiary, simply fill out a Change of Beneficiary Form available from your plan or policy provider. You can also name TCF as a percentage beneficiary with your spouse.
Donating During Your Lifetime
Make an IRA Charitable Rollover
The IRA Charitable Rollover provides an excellent opportunity to make a gift during your lifetime from an asset that would be subject to multiple taxation levels if it remained in your estate.
To qualify, you must be age 70½ or older at the time of the gift, and transfers must be made directly from your IRA account to TCF. By making an IRA gift, you can satisfy your annual required minimum distribution – up to $100,000 – without reporting additional taxable income.
Donating as Part of Your Estate Plan
Reduce taxable assets, offset estate taxes, and maximize your contribution
If you name TCF as a beneficiary of your IRA or other retirement assets upon death, the benefits multiply:
- Neither you, your heirs, nor your estate will pay income taxes on the distribution of the assets.
- Your estate will receive a tax deduction for the charitable contribution, which can offset estate taxes.
- Because TCF does not pay income tax, the full amount of your retirement account will directly benefit CCSA.
“Given current tax law, it may be most advantageous for seniors to make charitable contributions by donating IRA assets. That’s what we did in order to fulfill our campaign pledge to CCSA’s new building.”
Gene and Jean Bay
Having a plan for the future is important, no matter your age. A will makes your wishes known and provides your loved ones with peace of mind.
Simply include the following language in your will:
“I give to The Chester Fund for Education & the Arts (EIN-20-3297449), located in Chester, Pennsylvania, organized and existing under the laws of the Commonwealth of Pennsylvania, the sum of $ ___ [or ___ % of the rest, residue and remainder of my estate].”
Making a charitable bequest to CCSA has many benefits
- A bequest costs nothing now, yet gives you the satisfaction of knowing you have provided for CCSA in the future.
- You retain control and use of your assets during your lifetime.
- You may modify your bequest if circumstances change.
- You remove assets from your taxable estate.
Donating your life insurance to TCF may result in an attractive tax deduction. To do so, fill out a Change of Beneficiary Form available from your plan or policy provider.