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Class Pages : Class of 1958

Mount Hermon Class of `58 Planned Giving Letter

November 22, 2006

Dear Classmate:

With about eighteen months remaining before the milestone event, our 50th reunion at NMH in June of 2008, we want to put the idea of a planned gift in front of you.  A lot of planning and hard work are already going on to assure that the reunion weekend is the celebration it should be.  You will be hearing from other classmates about various aspects of this big event, but as your MH ’58 planned giving co-chairs, it’s our turn.

The NMH Class of 1955 raised over $1.6 million in honor of its 50th, with nearly 60% of that being planned gifts.  The NMH Class of 1956 went over $3.0 million by the time of their 50th reunion weekend, and a tad more than 50% of that huge total was in planned gifts.  The NMH Class of 1957 is approaching the home stretch and believes it can set a new benchmark and trump ’56.  We shall see.

All of our Annual Fund support between the 45th and 50th reunions is counted for our 50th class gift, as will all outright gifts and pledges committed for capital support (e.g., bricks and mortar projects, endowments, etc.) between the same two reunions (including pledge payments that extend beyond our 50th weekend).  We fully expect that more than half of our total 50th reunion gift will be in planned gifts.

There are two basic categories of planned gifts.  The first category is irrevocable planned gifts involving a lifetime transfer, usually with cash or appreciated securities.  Besides providing an income stream for one or two lives (usually the donor and often a surviving spouse), the gift qualifies for an attractive income tax charitable deduction and other immediate tax benefits.  Commonly referred to as life-income gifts, examples are charitable gift annuities, charitable remainder trusts, and pooled income finds.  Another irrevocable gift arrangement is to make NMH the owner of a whole or universal life insurance policy that is no longer needed.  This will result in a charitable deduction approximating the cash surrender value.

The second category of planned gifts is revocable in nature.  You name NMH as the beneficiary under your will or living trust.  You may prefer to designate NMH as the full or a partial beneficiary of an IRA or other qualified retirement plan.  Similarly, you can name NMH as a full or partial beneficiary of a life insurance policy but without transferring ownership to NMH.  These are revocable commitments because circumstances may change (e.g., long-term illness, you win the lottery, etc.).  You may be able to increase your intention, or you may have to decrease it. 

Irrevocable planned gifts aren’t for everyone.  They are for those who can part with some assets during lifetime in exchange for increased income and substantial tax benefits.  Revocable arrangements, on the other hand, make it easier for everyone to participate in the planned giving portion of our total 50th gift.  You keep your assets in case you really need them later in life.  But, by making a commitment now that you fully intend to fulfill for NMH later on, your intention can be counted and appreciated.

Consider this.  The best asset to use for a revocable commitment is your IRA or some other qualified plan.  These assets are subject to the federal estate tax and the state death tax.  Even if they escape one or both of these, your named beneficiaries (e.g., spouse, children, etc.) will have to pay income taxes when they receive their distributions.  However, distributions to NMH from these sources escape all taxes completely.  When appropriate, a bequest or other revocable planned gift can be arranged so that NMH receives it after both the donor and his spouse are gone.  Ask yourself this:  Will my kids need all the assets I intend to leave for them?  Even a modest percentage or stated amount for NMH counts in our efforts, and it won’t hurt your heirs.  Our 50th reunion is a perfect time to assess these matters.  Every gift, outright or planned, is important to NMH.

Enclosed is a response form to be returned to Marv Kelley ’60, senior gift planning advisor at NMH.  Check off any and all items that are appropriate.  Marv is very knowledgeable about charitable gift planning and can be a great help to you as you determine how you want to proceed.

We are on board with our planned gifts.  A few other classmates have informed Marv about existing planned gifts, as well.  Either create a new planned gift or disclose an existing one.  We hope you will join us soon!  

Sincerely,
                               
Tom Chase                                                     Barre Little
Co-chair                                                          Co-chair

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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
1958MH	$55686	$2792	$80000	53	5	70
1958N	$17735	$2045	$20000	53	4	60

Last Update: June 27, 2008

 

Class of 1958 Photos
2007 Reunion — 25th Reunion Alumni Events Photos



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