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  • Planned Gifts

    Please consider The New School and its schools and individual programs as you plan for the future and the future of your heirs. A planned gift enables you to become part of the university's commitment to its students and to society for years to come. Your gifts help maintain standards of excellence at the university, and preserve it for future generations. Imagine how your legacy will live on, supporting and enhancing the education of students and enabling them to help transform tomorrow. With a planned gift, you can make this happen. To learn more about planned giving, please contact W.M. Frankenberger III, Senior Director of Development and Planned Giving, at 212.229.5662 x2208 or frankent@newschool.edu.

    Bequests

    The easiest and most traditional way of supporting the university or its divisions and programs is through a bequest. Simply name the university or one of its divisions or programs as a beneficiary of a set dollar amount or a percentage of your estate. If you already have a will, your attorney can add a codicil to ensure that your wishes are followed without making a new will.

    Trusts

    Trusts are excellent vehicles for estate planning. A trust will benefit both you and the university‚ÄĒsometimes in ways you do not expect. Trusts may protect your heirs' assets, pay for your children or grandchildren's education, or assist a family member when you are no longer available to provide for them. Trusts can be set up to meet your own needs as well as support the university. You may work with your own financial advisor to set up your trust. You direct how the income is distributed, who controls the trust, how long the trust will last, and what the final disposition of the trust will be. Trusts may be established in your lifetime or through your will using almost any kind of asset.

    Types of Trusts

    • A Charitable Remainder Annuity Trust pays a fixed income to you or those you designate with the remainder going to the university after a specified time. You save income tax right away, avoid capital gains tax, and lessen your estate tax.
    • A Charitable Remainder Unitrust may be your best option if you want your annual payments to vary with the value of your assets. Again, you can choose from several options to determine how your annuity is paid out.
    • A Charitable Lead Trust is the opposite of a Charitable Remainder Annuity Trust. Annual payments go to the university over the life of the trust, with the remainder going to you or your heirs at its end. You are entitled to gift or estate tax savings for the value of payments to the university.

    Life Insurance, Retirement Accounts, Financial Accounts

    • Life insurance can be donated in three ways: you can name the university the beneficiary of an existing policy, you can transfer actual ownership of the policy to the university, or you can buy an entirely new policy and either make the university the beneficiary or transfer ownership to the university. In all cases, your gift may entitle you to an income tax deduction. Future premiums will also be tax deductible.
    • A retirement account (e.g., IRA, 401(k), 403(b)) can also be designated for the university by filling out a form naming us as beneficiary. This removes it from your taxable estate.
    • Financial accounts (e.g., CDs, savings accounts, and share accounts) can easily be designated as "payable on death" or, in the case of securities, "transfer on death" to The New School.

    Pooled Income Fund

    The New School Pooled Income Fund, managed by the Bank of New York, offers you the opportunity to give a future gift to the university or one of its divisions or programs while enjoying tax benefits and regular income. A pooled income fund is similar to a charitable annuity in that it joins assets from donors and functions.

    The pooled income fund offers several advantages to the donor including

    • The donor or other specified beneficiary is assured of an income for life.
    • The donor gets to take a federal income tax charitable deduction (subject to limitations) in the year of the transfer.
    • If appreciated property is transferred to the fund, the capital gains tax is usually avoided.
    • Income can be increased.

    Real Estate

    There are many options for gifts of real estate, including

    • outright gifts during the lifetime of the donor
    • gifts via a will
    • an outright gift with the provision that you may continue to use the property during your lifetime
    • a gift of a partial interest in property

    Benefits to you may include reduced income, estate and property taxes, and lower insurance or upkeep costs. You may also avoid capital gains taxes while enjoying the use of the property during your lifetime.

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