Providing Support for Ramallah Friends School In Estate Plans
Since its founding in 1861, Ramallah Friends School has benefited from the generous support of Friends around the world. One convenient and very effective way to support the school is through a legacy gift established as part of your estate plans.
A Bequest for Support of Ramallah Friends School
A bequest is the simplest form of planned gift and one that is very attractive for many people who want to support RFS. Bequests may be in the form of cash, securities, real estate, an insurance policy, or other property. Because of our longstanding relationship with Friends United Meeting and our desire to ensure that your gift is designated properly, sample language for including Ramallah Friends School in your estate plans with an unrestricted bequest is provided below.
The language provided above is for bequests where the donor does not want to restrict the gift for a specific purpose such as an endowed scholarship or faculty development. The School is, however, undertaking a major initiative to build and grow an endowment with specific attention to scholarships, financial aid, program development, and underwriting the cost of faculty salaries. We would be glad to discuss specific legacy gift and naming opportunities available as part of our long-term planning.
A Charitable Gift Annuity: A Legacy Gift to Ramallah Friends School that Provides Life-Time Income for You
You may want to leave a legacy to Ramallah Friends School through a Charitable Gift Annuity. This method of gifting benefits Ramallah Friends School upon your death while providing a fixed rate of income during your lifetime. Income payments to you may in some cases be at a rate higher than those of other investments. The table below illustrates the current income payout rates for a single life gift annuity as of November, 2013. (Two-life annuities are also available.)
|Charitable Gift Annuity Rate Single-Life Illustration|
When your Charitable Gift Annuity is funded, you will receive an immediate charitable tax deduction for the "gift portion" of your Charitable Gift Annuity. When payments come to you or your chosen beneficiary a portion of that income is also tax-free. To further maximize tax benefits, you may wish to fund your Charitable Gift Annuity with appreciated assets. This source of funding may provide additional benefits through savings or capital gains tax.
The minimum gift to establish a Gift Annuity is $10,000. Gift Annuities to benefit Ramallah Friends School may be established at Friends Fiduciary Corporation. When establishing the gift annuity it is important that the language for the named beneficiary be "Friends United Meeting" with the purpose of the gift clearly stated as "for the work of Ramallah Friends School".
For an application, sample illustration of the specific tax benefits of a Charitable Gift Annuity, or more information please contact RFS Head of School Rania Maayeh.
Or, if you prefer, you may contact Jeff Perkins (p: 215-241-7272) at Friends Fiduciary directly for an application and sample illustration
Other Planned Gift Options
Depending upon your individual circumstances, a number of other options for supporting the school may be available including gifts of property, life insurance, stock, and charitable remainder trusts. For more information, please contact us!