Planned gifts can provide a lasting legacy that touches future generations of students and faculty at the Graduate Center. We can work with you to achieve your philanthropic goals using your assets efficiently.
Gifts Through Your Will
Many people support the Graduate Center through bequests in their wills, which can be accomplished by amending a current will or by writing a new one. Examples of widely used bequests:
- A General Bequest designates a particular beneficiary to receive a specified sum or fixed percentage of an estate
- A Residuary Bequest designates a particular beneficiary to receive a specified sum or a fixed percentage of the assets remaining after all debts, expense, taxes and specific bequests are paid.
- A Contingent Bequest designates one of more beneficiaries who will receive a legacy only if, for example, in the case of the death of a primary beneficiary.
You may find language to share with your attorney or adviser here. [link to bequest language document]
Gifts of Retirement Assets
Retirement assets are often your greatest resource so this is another popular way to make a gift. You may name the Graduate Center as the beneficiary of part or all of your IRA, or retirement plan, with the additional benefit of bypassing income and estate taxes. IRA owners over age 70 ½ may each year also transfer any amount up to $100,000 directly to the Graduate Center Foundation. This rollover counts toward the required minimum distribution, is tax free, and not included in adjusted gross income.
Gifts that Provide Income
With a minimum gift of $10,000 in cash or stock, you may establish a gift annuity with the Graduate Center. You will receive an immediate tax deduction and annual payments for life for you, for you and another, or for someone else; a portion of each payment is tax free. Rates are based on the age of the beneficiaries and you may start payments immediately or arrange for the payments to be deferred and at a higher rate.
Gifts of Life Insurance and other accounts
You can have an impact simply by naming The Graduate Center Foundation as a beneficiary on a life insurance policy or bank account.
All planned gifts should be discussed with your attorney, accountant, or other financial advisor to maximize the benefits to you. The Graduate Center Foundation can answer questions and help you meet your philanthropic objective.