The vast majority of wealth for most people is in their asset base - homes, retirement accounts, non-retirement securities portfolios, life insurance, etc. - as opposed to their income stream. Giving from one’s non-cash asset base generally has much greater tax advantages than donating cash. The simplest way to donate from your asset base is through a bequest in your will or trust. Gifting long-term appreciated stock is a great, tax-efficient way to give today. There are even ways to create an income stream for life, receive a tax break today, and make a major gift to Fenwick.
Bequests, charitable trusts, life insurance, retirement assets, and the like – can play an enormous role in establishing or growing scholarship funds and/or Fenwick’s endowment. For many benefactors it is easier to leave $10,000 or $25,000 or $100,000 in a bequest gift than to make an outright gift, for example. Planned gifts can significantly boost the principal amount of scholarship funds over time.
Documented planned gift intentions to Fenwick are recognized by the benefactor’s inclusion in the Bernacki Society. Over the past five years nearly 30 new benefactors have joined the Bernacki Society. We expect to continue to see excellent growth in the Bernacki Society during The Centennial Campaign and beyond. For more information about the benefits of planned giving and/or the Bernacki Society, please contact Katie Vanaria, V.P. for Institutional Advancement:
kvanaria@fenwickfriars.com, 708-948-0306.