Many of our donors are futurists, those who see the importance of planning for tomorrow's needs today by making deferred gifts and outright bequests. Members of the Heritage Society include donors who have placed major assets in a charitable trust, not only to meet personal income needs during life, but to benefit the College in the years ahead. Suggestions for gifts include:
Retirement Assets (IRA Transfer Gifts)
You can make a charitable gift of all or part of your IRA by designating CNR as the beneficiary of your retirement assets. If you are 70 1/2, you may also use your distribution as a gift and receive a charitable deduction, thus sharing tax-favored assets with your alma mater to continue a life-long commitment to helping future generations of students.
Testamentary Agreements
This is a pledge of a legacy to CNR, a short form which asks you to articulate the specific amount you are designating to the College in your will. With these pledges, CNR enhances its financial profile to banking institutions for applications of loans, especially for construction costs. This agreement gives a present dimension to a gift in the future.
Income-Generating Gifts/Annuities
A charitable gift annuity is a gift to the College which provides the donor with an income for life. The donor irrevocably gives cash or securities (sometimes property) to CNR and, based on the age of the donor, a percentage of the gift generates an annual payout for the life of the donor. Certain tax advantages for the donor are also gained. To calculate your annuity anonymously, use our Planned Giving Calculator below.
Estate Gifts
Over $28 million in legacies over the last 30 years have helped provide an extraordinary level of scholarship support for students, memorialized beloved departed friends and family, helped expand the campus buildings and sustain the mission of CNR. Gifts from $1,000 to $1,000,000 are gratefully received each year and applied as the donor wishes. Indicating “The College of New Rochelle at 29 Castle Place, New Rochelle, New York” in your will uses the legal name of The College and insures our beneficiary status. We urge you to take care of all your family and friends, but please remember your alma mater at the end of your list of legatees.
Life Insurance
The College can be either the beneficiary or owner of the policy. This gift has a modest cost for the donor and is attractive to those who have a paid-up policy that is no longer needed.
Life Income Gifts
Life income arrangements vary, but most options offer the following financial benefits:
- an income for life to the donor and a second beneficiary;
- a charitable income tax deduction;
- a higher rate of return than many current investments;
- a reduction or avoidance of capital gains taxes;
- savings on estate and gift taxes;
- professional investment management.
You can calculate your annuity anonymously and without obligation with the Planned Giving Calculator!
• Click on the PG Calc Icon
• Plug in gift amount and ages
• Choose one or two beneficiaries
See the income your gift will generate and remember, your gift provides important support for future students of CNR.
Ask about the benefits of annuities for older parents and family members! You may get the tax benefits and they get the income... for life.
For more information regarding Bequests and Planned Gifts, please contact Mynetta McCuttcheon, Development Officer at (914) 654-5916 or mmcutcheon@cnr.edu. There is no obligation and we encourage you to discuss any planned gift with your financial advisor.