 | Through careful estate and financial planning, donors are able to give to North Cross School in ways that are far greater than would otherwise be possible during their lifetime. Whether your interests lie in current operations, capital projects, endowment, memorial gifts, restricted or unrestricted gifts, there are many opportunities to impact the student and faculty experience and make a remarkable difference.
Planned Giving Options
Bequests
You may include North Cross in your will by leaving a percentage of the estate, a specific dollar amount, a particular asset, or by naming North Cross as the residual beneficiary.
A Gift In Trust
A Charitable Remainder Trust (CRT), managed by a trustee of your choice such as a bank trust department, provides a way of giving to North Cross while retaining an income for life. Gift assets are irrevocably transferred to the trust and you or another beneficiary retains an income from them. The income can be either variable (in the case of a "unitrust") or fixed (as in an :annuity trust"), a decision you make at the time the trust is established. When the trust ends, the principal passes to North Cross to fund a purpose selected by the donor. A charitable remainder trust for which North Cross serves as the trustee requires a minimum initial contribution of $100,000. For an annuity trust there is no minimum for additional contributions. For more information on charitable remainder trusts, consult your financial advisor.
A Gift of A Paid-Up Life Insurance Policy
Many people own fully paid-up insurance policies that are no longer needed for their original purposes. Such policies can be given to North Cross School. Paid-up life insurance policies for which North Cross has been made the owner and irrevocable beneficiary entitle the donor to a charitable tax deduction equivalent to the cash surrender value. Gifts of insurance policies that are not paid-up receive tax deductions for their cash values and for the additional annual cash contributions required to enable North Cross to pay subsequent premiums. For more information on a gift of life insurance, consult your financial advisor.
If you have existing estate plans that benefit North Cross School, we are interested in hearing from you. By notifying the School regarding your intentions, you will be assured that your personal philanthropic goals are understood and will automatically be recognized as a member of the Heritage Society, honoring the commitment of individuals who have made arrangements to provide for the future of North Cross School.
For more information, please contact Kim Williamson, Director of Development, at 540-989-6641, ext. 260 or by emailing kwilliamson@northcross.org. |
Heritage Society
North Cross School is actively planning for the education of tomorrow’s students, and as part of that planning, is pleased to announce the creation of the Heritage Society honoring alumni, parents and friends who have made arrangements for planned gifts to the school. Our sincere appreciation is extended to the following Heritage Society members:
Mr. and Mrs. John T. Cunningham III
Mrs. Charles L. Crockett, Jr.
Mr. and Mrs. J. Rand Garrett III
Mr. and Mrs. John C. Parrott II
Mr. and Mrs. Bittle W. Porterfield, III
Mr. and Mrs. John S. Ross, Jr. |
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