Planned Giving

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What is Planned Giving?

Planned giving can benefit you, your loved ones, and the students of the Northshore Education Consortium. A planned gift enables charitable donations at a level that you might not have thought possible, while maximizing tax benefits for you and your family. Through our planned giving options, the Friends of Northshore Education Consortium can help you achieve your financial and philanthropic goals.

Bequests

Bequests are an important source of support. A general bequest is one of the most popular ways to make a charitable gift by will. You simply designate a specified dollar amount, property or specific assets to Friends of Northshore Education Consortium. For suggested wording for a gift please see below:

  1. For a Bequest of Cash:“I give and bequeath the sum of ___________________________ Dollars ($____________) to Friends of Northshore Education Consortium, 112 Sohier Road, Beverly, MA 01915, for its general purposes (or for a specific program determined in consultation with Friends of Northshore Education Consortium).”
  1. For a Bequest of Securities or Other Assets:“I give, devise and bequeath [insert description of assets to be gifted], to Friends of Northshore Education Consortium, 112 Sohier Road, Beverly, MA 01915 for its general purposes (or for a specific program determined in consultation with Friends of Northshore Education Consortium).”
  1. To Designate Friends of Northshore Education Consortium as a Beneficiary of a Percentage of Your Estate:“All of the rest, residue and remainder of the property belonging to me at the time of my death, both real and personal, of whatever kind and nature and wherever situated, and any property to which I may in any way and at any time be entitled and any property which I have not otherwise effectually disposed of (exclusive of any property over which I may have a power of appointment, it being my intention not to hereby exercise any such power of appointment), hereinafter referred to as my “residuary estate”, I give, devise and bequeath as follows:
    __________ percent ( ___%) thereof to Friends of Northshore Education Consortium, 112 Sohier Road, Beverly, MA 01915, for its general purposes (or for a specific program determined in consultation with Friends of Northshore Education Consortium).”(If Friends of Northshore Education Consortium is not receiving 100% of your estate, you will need to list the other beneficiaries.)

While there are a number of ways to make a bequest to Friends of Northshore Education Consortium we recommend that you consult your attorney to decide what best suits your individual circumstances.

Retirement Assets

Some assets are not transferred through a will. These include assets in a qualified retirement plan (qualified plans include an IRA, Keogh, 401(K), 403(B), or defined benefit plan) that remain after your lifetime. Often, a retirement plan is a pre-tax asset and, when transferred to a beneficiary, is subject to estate tax as well as income tax. Naming the Friends of Northshore Education Consortium, Inc. as the beneficiary of your qualified retirement plan may be advantageous and financially judicious. Most often you simply need to name the Friends of Northshore Education Consortium Inc. on the beneficiary line when you sign up for your retirement plan, or to modify your current election by notifying your plan administrator.

More Information & General Inquires

For more information, please contact the Development Office at 978.232.9755 ext. 1251