Percy Crawford Legacy Society - Planned Giving
Thank you for considering The King’s College in your planned giving.
Your gifts to The King’s College equip students from all walks of life to become effective leaders throughout our culture by educating them in the historic Christian faith and the classical liberal arts. Because of your support, faculty shed light on critical issues by speaking and writing in the public square.
Creating an estate plan gives you the ability to designate your assets to loved ones and charities that you care about while enjoying potential tax advantages. As you make plans for future giving, our Development office is available to advise on the most prudent and meaningful ways to support the mission of The King’s College.
The Percy Crawford Legacy Society
By including the College in your estate plan, you’ll become a member of the Percy Crawford Legacy Society and extend your own legacy far into the future.
The Percy Crawford Legacy Society is named for the evangelist who founded The King’s College in 1938 in Belmar, N.J. At its founding, the College’s mission was to prepare young men and women with a liberal arts education to make a difference for Christ. To this day, The King’s College remains grounded on this mission, illustrating how one person’s vision can inspire generations to come.
Please confer with your attorney or financial planner as to your specific financial and estate-planning situation. We would be pleased to provide you or your advisors with more detailed information about how your gifts can ensure the future success of The King’s College.
Leave a Gift in Your Will (Bequests)
Bequests are one of the most popular and simplest ways to make a planned gift. Bequests are gifts made through a will or living trust. They cost you nothing now, yet may give you great satisfaction as you will know that your gift will make an impact in the future. If you wish to donate personal property or real estate, please contact us so we can offer advance approval, per The King’s College Gift Acceptance Policy.
Designate King’s as a Beneficiary
Naming The King’s College as a beneficiary in your life insurance or retirement plan allows you to designate all or a portion of your life insurance policy, IRA, 401(k), or other retirement plan to The King’s College. Because the proceeds are distributed to a nonprofit, your heirs will avoid income and estate tax on the amount donated.
If you name the College as the owner and beneficiary of a life insurance policy, the policy’s value is a charitable contribution in the year of transfer. If the policy is not fully paid up, you will be entitled to a charitable contribution deduction for each subsequent premium payment.
Naming the College as the primary or alternate beneficiary of a policy (but not the owner) will not provide a current deduction for either the value of the policy or the premiums paid. However, your estate will be permitted to deduct the amount of the proceeds payable to the College for estate tax purposes and you will be able to confer a significant benefit on the College at a relatively modest annual cost.
Please note that there are a variety of trust arrangements that can allow you to ensure that the proceeds of life insurance are available for the support and maintenance of your surviving spouse before going to the College.
Other Ways to Plan a Gift
Make Qualified Charitable Distributions (QCD)
If you are 70½ or older, making a Qualified Charitable Distribution (QCD) allows you to lower your income taxes while supporting The King’s College. With a QCD, you can make a tax-free charitable rollover gift of up to $100,000 per year directly from your Individual Retirement Account, effectively lowering your adjusted gross income and yielding you various tax benefits.
Giving Real Estate
You may donate all or part of your personal or vacation residence, commercial property, farm or other real estate either as an outright gift or as part of a life-income plan. Tax savings and other benefits will vary according to the method you choose, your personal circumstances and the value of the property. Please contact King’s in advance so that we may assist you in the donation process per The King’s College Gift Acceptance Policy.
Create a Donor Advised Fund
A donor advised fund is like a charitable savings account, giving you the flexibility to recommend how much and how often money is granted to The King’s College and other qualified charities. Harness the philanthropic power of a private foundation, such as the National Christian Foundation or Fidelity Charitable Gift Fund, to recommend a grant or recurring grants now to make an immediate impact or use your fund as a tool for future charitable gifts.