Planned Giving -An Enduring Legacy

“What is the use of living, if it be not to strive for noble causes and to make this muddled world a better place for those who will live in it after we are gone? How else can we put ourselves in harmonious relation with the great verities and consolations of the infinite and the eternal?”

Our Planned Giving Society recognizes the generosity of friends of Rockbridge Academy who desire to leave an enduring legacy of strengthening classical and Christian education by providing support to the school through deferred gifts, bequests, or trust instruments. We welcome the opportunity to meet with you and your advisors to discuss your philanthropic goals and how you can include Rockbridge Academy in your estate and financial plans. There are many ways you can ensure enduring support to the mission of Rockbridge Academy through an endowment and other gifts. All discussions are confidential and are held without obligation.

Bequests or Other Testamentary Gifts
You can provide for Rockbridge Academy in your will or in a trust. The full value of a bequest is deductible for federal estate tax purposes, and there is no limit to the size of a bequest. You may also establish a charitable remainder trust or a charitable lead trust through your will, allowing you reduced estate taxes while both providing for your heirs and leaving a enduring legacy at Rockbridge Academy.

You may incorporate a bequest or testamentary trust to Rockbridge Academy when your will is originally drafted, or add one later in a codicil. For other forms of testamentary gifts, you should seek advice from your financial advisor or attorney. If you are interest in speaking with a estate planning attorney, please contact the Development Office.

Gifts of Life Insurance
You can name Rockbridge Academy the beneficiary (or co-beneficiary) on an existing life insurance policy. In the event of your death, Rockbridge receives the proceeds of the policy as a bequest, generating federal estate tax benefits.

If you also make Rockbridge Academy owner of the policy and relinquish all incidents of ownership, you can claim an immediate income tax deduction for the cash surrender value.

You can also purchase, through relatively modest annual gifts, a new policy naming Rockbridge Academy as beneficiary and owner. Not only will you be able to transform a small annual gift into a large one, you can claim the amount of the annual premium as an immediate charitable deduction for income tax purposes.

Income-Generating Gifts
If you want to make a charitable gift to Rockbridge Academy, but need to retain income for yourself or a family member, consider a deferred, or "life income," gift. Deferred gifts can allow you to achieve your philanthropic goals for Rockbridge, while also providing income and important tax savings.

Charitable Gift Annuity
You can make a contribution to Rockbridge and receive a fixed annual income from the gift for the rest of your life. The rate you receive is based on your age and will increase as you get older. If you give appreciated securities to create an annuity, the capital gain is prorated over your life expectancy; part of the annuity payment is tax-free for the duration of your life expectancy; and you receive an income tax deduction, the amount of which varies, depending on the age of the annuitant. Upon the death of the annuitant (you or your designee), the remaining principal becomes available to Rockbridge Academy.

Charitable Remainder Trust
A charitable remainder trust can be established with cash, appreciated securities, real estate, or other marketable assets. Managed by a trustee, a charitable remainder trust provides income until your death (or the death of a beneficiary), or for a specified term of years. When the trust expires, the principal becomes available to Rockbridge Academy.

Donors may choose the trust's annual payout rate. A Unitrust pays income according to a fixed percentage of the total trust value, as revalued each year. As a unitrust's value increases, payments to the beneficiary also increase. An Annuity Trust pays a fixed dollar amount each year, rather than a percentage of the annual trust value. This dollar amount is established when the annuity trust is created, and it does not change from year to year.

Pooled Income Fund
Pooled income fund operates like a mutual fund. Your gift is comingled and invested with other pooled income fund gifts, generating income payments each quarter to you or a chosen beneficiary. Payments are based on the earnings of your proportionate interest in the fund. Upon your death or the death of the first beneficiary, income payments may pass to a second beneficiary, such as a spouse. When all income beneficiaries have died, your shares in the fund become available to Rockbridge Academy.

If you contribute appreciated securities, there is no capital gains tax on their transfer to (or subsequent sale by) the pooled income fund. You are entitled to an income tax deduction for part of the gift, subject to the same contribution ceilings mentioned earlier for outright gifts of cash or securities. Most donors also experience an increase in annual income as a result of the gift. Contact your financial advisor or the Development Office for more information. You can also visit CharitableGift.org.

For more information on supporting Rockbridge through planned giving please contact:

Nathaniel Bailey, Director of Development
Rockbridge Academy
911 Generals Highway
Millersville, MD 21108
(410) 562-1778
nbailey@rockbridge.org


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