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Giving to Merrimack

Planned Giving

Let your family know what’s important to you.
Make a gift to Merrimack College in your estate plans.

Several types of gifts fall under the category of planned giving, including bequests and life income gifts. In all cases, a planned gift can enable you to make a larger gift to Merrimack College that you might not have otherwise thought possible because of the income and tax benefits you can receive as well as the flexibility of these types of gifts.

Charitable Gift Annuities

A charitable gift annuity is a contract between you and Merrimack College. The contract states that in exchange for your gift Merrimack, the College agrees to pay you, and/or another beneficiary a fixed dollar amount annually for life.

Charitable Deferred Gift Annuity

For many people, the nature of a fixed income payment of a charitable gift annuity is very attractive; however, they prefer not to receive the income immediately. For these donors, the deferred gift annuity may be a viable option. A deferred gift annuity allows the donor to make a gift now while setting a predetermined date in the future to begin receiving income. By deferring your income for a year or more, the donor will be offered a higher gift annuity rate and a higher tax deduction.

Summary of benefits

  • Satisfaction in supporting an area of Merrimack College that is important to you;
  • Fixed lifetime income for up to two beneficiaries;
  • An immediate charitable income tax deduction;
  • Relief from upfront capital gains taxes on gifts of long-term appreciated property;
  • Reduction in federal estate taxes;
  • Relief from upfront capital gains taxes on gifts of long-term appreciated property;
  • Reduction in federal estate taxes.

Charitable Remainder Trusts

When you create a charitable remainder trust, you irrevocably transfer money, securities or other assets to a trust that will then pay you an income for life, or a period of years. Highly appreciated assets that generate low current income are an ideal funding medium because they can be sold and reinvested with a charitable remainder trust with no tax consequences. If you wish, the trust can also pay an income to another beneficiary of your choice. At the death of the last beneficiary, the remaining principal in the trust goes to Merrimack College.

A charitable remainder trust is a good plan for you if you have appreciated assets and are looking for a way to supplement your income. Charitable trusts can be set up to pay either set annuities or variable amounts depending on your goals and needs and those of Merrimack College.

Charitable remainder trusts at Merrimack College can be established with gifts of $100,000 or more. Charitable remainder trusts typically pay out between five and seven percent to the named beneficiaries for their lifetimes or a set number of years.

Charitable trusts can be structured in a variety of ways to suit your particular situation.

Summary of benefits:

  • Satisfaction in supporting an area of Merrimack College that is important to you;
  • Lifetime income (variable or fixed) for beneficiaries whom you designate;
  • An immediate charitable income tax deduction;
  • Avoidance of capital gains taxes on gifts of long-term appreciated property;
  • Reduction in federal estate taxes.

For further information, please visit contact us at (978) 837-3496.

Contact

Courtney Luongo
Office of Institutional Advancement
(978) 837-3496

luongoc@merrimack.edu