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Class Pages : Class of 1957

Mount Hermon Class of `57 Planned Giving Letter

November 10, 2006

Dear Classmates:

As Co-Chairs of the Planned Giving Committee for our 50th Reunion, we hope each of you will do your absolute best with this year’s pledge to the Annual Fund.  We also hope you will consider a capital pledge for our Class of 1957 Scholarship Fund.  A capital pledge can be paid off over five years and still count toward our total 50th reunion gift.

Our purpose with this writing is to encourage you to consider a planned gift, as well.  Here’s some big news!  We have been notified by the school that an anonymous classmate has committed to a planned gift in the amount of $500,000 as a challenge gift to his classmates.  This gift is contingent on the 1957 Mount Hermon Class meeting that challenge by raising at least $500,000 in new planned gifts between now and the reunion in June 2007.   If the challenge is met, this total of $1 million or more will go a long way toward reaching the current benchmark for a total 50th reunion gift of $3 million set by the NMH Class of 1956 this past year.

Because all of us are either retired or facing retirement, planned gifts are a less burdensome way to benefit the school as most (or all) of their impact takes place upon our demise.  Revocable estate provisions and irrevocable life income gifts are counted toward our comprehensive 50th reunion gift total.

For instance, a gift from an IRA or 401(k) or 403(b) is one effective way to benefit the school with a gift that might otherwise be substantially consumed by the combination of death taxes and income taxes.  It is very possible that a distribution from an IRA of $20,000 to NMH at one’s death will cost only $10,000 to your heirs, after factoring in the costs of federal and state income taxes and estate taxes. 

Another example, and still the most common type of planned gift, is a simple bequest under a will or “living trust.” You don’t lose control of, and access to, your assets during your lifetime.

On the other hand, there are lifetime planned gifts that provide very attractive tax benefits and increase one’s cash flow.  Examples include charitable remainder trusts, charitable gift annuities and pooled income funds.  One relatively unknown planned gift vehicle is the charitable lead trust which initially makes charitable distributions, then eventually leaves the trust principal to heirs at a zero or much reduced gift and estate tax costs. 

It is very easy to commit to a planned gift from an IRA (or other retirement plan) by a simple change of beneficiary form.  To do so is tax-efficient and will not affect your own financial security.  It is also very easy to add a codicil to your will or amend a living trust. 

Keep in mind that planned gifts are very different in nature from outright capital or annual gifts.  In many cases they will pay you income for the rest of your life, and/or result in other benefits.  We know from the experience of classes that have gone before ours that many of you will think in terms of at least $20,000, while some will consider gifts that are substantially greater.  Every gift is important if we want to achieve our goals.

Enclosed is an excellent (and concise) booklet describing in greater detail most of what we listed above as planned gift vehicles.  We urge you to read it as a great resource in support of our appeal.  Or, try visiting the NMH planned giving website.  Go to www.nmhschool.plannedgifts.org

We are also enclosing a response form so you can indicate your interest and involvement in this portion of our 50th reunion gift.  Planned gifts are what will get us to our unofficial goal of $3 million, since we would like to outdo the Class of 1956’s efforts announced at their 50th in June.  We have a long way to go, but we can do it if we start thinking about gift planning now.

Confirmation of an existing planned gift, or the desire to establish a new one, can best be made by notifying Marv Kelley ’60, senior gift planning advisor at NMH using the response form.  Feel free to contact any one of us if you have questions or concerns.  Our phone numbers appear below our signatures.

Many thanks for your consideration.  Together, we can put ’57 over the top.

Best regards.

Sincerely,

                                                      

Bradley R. Cook                     Joseph Harrington                        David C. Williams
H:  (781) 784-3852                 H: (508) 366-0433                        H: (603) 875-0363
W: (617) 951-2777

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Class AF Goals & Giving
NMH Annual Fund : Class Progress July 1, 2007 - June 30, 2008

Class and School	Giving to Date	Pledges to Date	Goal	Donors to Date	Pledges to Date	Donors Goal
1957MH	$52032	$0	$75000	50	0	60
1957N	$7880	$0	$15000	60	0	75

Last Update: July 23, 2008

 

Class of 1957 Photos
Various Photos Alumni Events Photos



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