Planned Giving
The Johnson Anderson Heritage Society
The Johnson Anderson Heritage Society, was established in 1991 to recognize and honor alumni, parents and friends who have designated Keuka College as the beneficiary of a bequest, trust, retirement plan or life insurance policy, or who have made other estate provisions benefiting Keuka College. The Johnson Anderson Heritage Society affords Keuka College an opportunity to recognize those visionaries who have given unselfishly of their resources to further the work and goals of Keuka College.
The Johnson Anderson Heritage Society honors Ruth Johnson Anderson, a 1925 Keuka College graduate. When she died in 1987, Ruth left Keuka College $250,000, the largest bequest ever received from an alumna at that time.
Currently, there are approximately 200 members in the Johnson Anderson Heritage Society. Several benefits are bestowed upon the membership. They are recognized in our annual report and honor roll of donors (unless anonymity is requested) and they are invited to special events on campus that honor benefactors. Also they are presented with a certificate of membership fit for framing and a Johnson Anderson Heritage Society gold pin engraved with the cupola of Ball Hall.
If you would like to join with them in helping to ensure the future of Keuka College, contact Fran Crovetti, Associate Vice President for Development at 1-315-279-5235 or e-mail fcrovett@mail.keuka.edu.
Types of Planned Gifts
Wills and Revocable Trusts
Including Keuka College in your will or revocable trust provides a testamentary gift for Keuka after your lifetime in fulfillment of your charitable wishes. Your bequest becomes a lasting testament to your values and beliefs, while supporting the educational mission of Keuka and preserving the college's traditions for generations to come.
If you have already included Keuka College in your estate plans, the college would like to thank you and recognize your commitment through membership in the Johnson Anderson Heritage Society. For specific language on including Keuka College in your will or for additional information, please call 1-315-279-5262 or e-mail fcrovett@mail.keuka.edu.
For sample wording of a charitable bequest to Keuka College, click here.
Charitable Gift Annuities
A charitable gift annuity is a contract between you and Keuka College offering a guaranteed lifetime income in exchange for a gift of $5,000 or more. Donors to this type of plan normally receive a higher rate of return than can be obtained through a bank, CD or money market fund, and a portion of the income received is tax free. And because a portion of the donated amount ultimately accrues to Keuka College, a donor also receives a partial tax deduction in the year that the gift is made. To receive a personalized example of how a charitable gift annuity can work for you or if you would like more information, please call 1-315-279-5235 or e-mail fcrovett@mail.keuka.edu.
Charitable Remainder Trusts
One can make a significant gift of cash, securities or appreciated property to support the mission of Keuka College through a charitable remainder trust, while retaining income for yourself or a loved one. In addition, capital gains taxes may be avoided on appreciated property, a current income tax deduction may be taken, and future estate taxes may be reduced. Variable or fixed income plans are available. A trust generates a reliable income stream in retirement, and some allow annual additions. To receive a personalized example of how a charitable remainder trust can work for you or if you would like more information, please call 1-315-279-5235 or e-mail fcrovett@mail.keuka.edu.
Insurance
There are several ways to make a gift of insurance to Keuka College:
- Donate a paid-up life insurance policy. If you own a policy that no longer requires annual premiums, you can donate it to Keuka and receive a current tax deduction. This may be achieved by naming Keuka College both owner and beneficiary of the paid-up policy on the Change of Beneficiary form provided by the insurance company.
- Create a new policy for Keuka College. If you would like to make a major gift to Keuka but have not as yet accumulated enough assets to do so, you might consider creating a new policy naming Keuka both owner and beneficiary. Each year, Keuka pays the premium on the policy from the gift for the premium amount that you provide. This yearly premium is fully deductible and will ultimately culminate in a tax-free major gift to Keuka after your lifetime.
- Name Keuka College as Primary Beneficiary. If you bought life insurance to benefit a loved one who no longer needs the protection, you can designate Keuka to receive the death benefit instead. Your estate will receive a charitable deduction, and Keuka receives the proceeds tax-free.
- Name Keuka College as Successor Beneficiary. If you own a policy where your spouse is named as primary beneficiary, you may name Keuka as your successor beneficiary in the event your spouse predeceases you. There are no immediate tax benefits; however, if no successor beneficiary were named, the proceeds would be included in your estate.
You can make periodic tax-deductible gifts to Keuka by assigning your annual insurance dividends to the college. If you have any questions about giving through life insurance or would like to receive more information, please call 1-315-279-5235 or e-mail fcrovett@mail.keuka.edu.
- Retirement Plan Gifts
Certain retirement plan assets can be incorporated into a sound charitable gift with the aid and assistance of expert legal advice. Legislation has been recently introduced that, if passed, will make giving from retirement assets an attractive way to benefit your loved ones and support your favorite charities while reducing the heavy taxes typically levied on retirement funds when left to non-spousal heirs. If you have any questions about giving through your retirement plan or would like to receive more information, please call 1-315-279-5235 or e-mail fcrovett@mail.keuka.edu.