Taking care of
Watkinson for the future
Planned Giving:
The Woodruff Society
Planned gifts can provide income to Watkinson for years into the future, while at the same time providing a tangible benefit to the donor.
Bequests
One of the easiest and most useful gifts to the school is an unrestricted bequest in your will. Bequests work particularly well for those who are unable to make an immediate outright gift, but would like to help Watkinson in the future.
Charitable Lead Trusts
With a charitable lead trust, you transfer property—such as real estate, securities, bonds, partnership interests, oil and gas properties, and the like—to a trust. The trust pays an annual amount (a fixed amount or a percentage of the trust principal as revalued annually) to Watkinson for a specified period. After this time, the property returns to you or a non-charitable beneficiary, usually a family member in the next or a succeeding generation. The property generally appreciates and is transferred to your heirs with significantly reduced gift or estate taxes.
Charitable Remainder Trusts (Unitrusts & Annuity Trusts)
A charitable remainder trust is a trust fund established when you transfer assets to a trustee for Watkinson’s benefit. As with other life income plans, you retain an income interest in the property and continue to receive the income from it for as long as you live, for your lifetime and that of another beneficiary, or for a fixed term of up to 20 years. Because the school is given a remainder interest, you become eligible for substantial tax benefits. Where a charitable remainder annuity trust provides a fixed amount of income determined at the creation of the trust, the unitrust pays a percentage of the trust assets, as revalued annually.
Gifts of Other Property/Tangible Personal Property
This includes such items as works of art, antiques, books, boats and the like. The greatest tax benefits come, however, when the donated object is what the Internal Revenue Service (IRS) considers long-term capital gain property. This simply means that the asset has appreciated in value and you have held it for a certain length of time. Each gift item must be evaluated on an individual basis to determine whether or not it is related to our tax-exempt mission.
Intangible Personal Property
You may also make gifts of personal property that cannot be seen or touched. Such property includes copyrights, securities, patents, contracts, promissory notes, royalties, trademarks and the like. Unlike tangible property, intangible personal property does not have to be scrutinized—for income tax purposes—for its relevance to our tax-exempt mission.
Life Insurance
At some time, you may reach a point where life insurance no longer has the financial significance for your family that it once did. In that case, you may wish to make a gift of the policy to us. You may also name us as the beneficiary of your policy. Because the designation is not irrevocable, it cannot be counted for any immediate tax savings. However, at your death, your executor may take a federal estate tax charitable deduction for the entire amount.
Real Estate
Almost any type of real property—a personal residence, a farm, a vacation home, a commercial building, or an undeveloped parcel of land—can be a gift. There are different options to make gifts of real estate (outright and other.) If the property is long-term capital gain property and given outright, you will generally avoid any tax on the gain, reduce your taxable estate by the value of the gift, and receive a charitable contribution deduction for 100 percent of the fair market value of the property.
Interested in learning more? Please email or call Thomas Murphy at 860-236-5618Â x128.
Generosity of spirit,
Boldness of vision
In 1985, two devoted friends of the school took action. Arch and Barbara Woodruff designated Watkinson as the beneficiary of several planned gifts to secure both its short- and long-term financial security. The Woodruffs’ investment soon began to attract other donors, inspiring many to include Watkinson in their wills; it became clear that this kind of gift would continue to reverberate, growing stronger every year.
The Woodruff Society members are investing in the potential of our students and our school. In great measure, it is the generosity and vision of these people who will help shape Watkinson’s future. By taking the important step of making a will and naming Watkinson as one of your beneficiaries, you can ensure that the school’s uniquely valuable education will be available to generations of future students.
Anonymous (3)
Matt ’77 and Rhea Andersson
Wendy and Edward Avery P’19, ’23
Barbara Barron P’04, ’07
James and Beverly Boyle P’96
John Bracker and Rachel Countryman P’11,’13
Donald and Dorothy Budnick P’03, ’05
Titus and Karalee Casazza P’92, ’97, ’97
Joan Cobb P’06, ’11
Philip ’91 and Tina Conserva
John Crosson and Christina Mainelli P’17, ’20
John and Linda Del Negro P’86, ’95
Wendie diCorcia ’72
Alan and Carmen Dornan P’98
Robert ’66 and Carolyn Dorting
Renée Letendre Edge ’90 and Christopher Edge
Allen Elstein ’63
Peter and Lisa Fishman P’07, ’12
Caren Foisie P’10, ’16
Keith and Margaret Garner P’01
Hoyt ’54 and Sally Goodrich P’82, ’85
Paul ’69 and Nancy Gossling
Bobbie Granato P’07
Cammie Hart P’91, ’94
Patricia and Earle Jackson P’05
Rufus and Laraine Jones P’99
Douglas and Cheryl Jourdan P’01, ’10, ’12
Patrick and Patricia Kinney P’15
Janice and David Klein P’06
Richard Koza ’76 and Joanne Faenza-Koza
Wendy Kwalwasser, Friend
Thomas ’77 and Ginna Lagan
John and Margery Langeland, Friends
Eugene Leach and Kathleen Frederick, P’00
Charlotte Lee, P’86
Roger and Nadine Letendre P’90, ’91
Penny and Peter Lisi, Friends
Jeffrey Marsted and Marcia Reid Marsted, Former Faculty
Walter and Anne Mayo P’85
Pam Musk ’81
Richard and Joan Palatine P’83, ’85
Marilyn Pease P’80
Jean Peelle, Friend
Andrew Pinkes ’80 and Suzanne Batchelor Pinkes P’17
Richard and Joan Purinton
Rosario and Joanne Raia P’10
Rod and Janice Reynolds P’96
Belle K. Ribicoff P’74
Jack Riege GP’98
Laura Dake Roche and John Roche P’13
Jenna Kimble Rosario ’01
Howard Scheinblum and Susan Fierberg P’85
Ronald and Judith Schlossberg P’91
Richard and Cyral Sheldon P’01, ’04
Nancy Stone and Joshua Stein P’09, ’11
Paul Tieger P’04, ’07
Charley Todd, Former Head of School
Andrew Tully and Beth Mooney, Past Faculty
Sherwood and Magrieta Willard P’95
Jean Wilson P’85, ’88, ’91, ’94, ’96; GP’06, ’14, ’14
Sandy Wood Forand P’99, ’07
