Goals & Benefits

Goals & Benefits

There are many ways to make a gift to Mayfield Junior School. Take a look at some of the options designed to help you to achieve different goals, and feel free to contact us with questions.

Your Goal

Your Benefits

Your Strategy

Leave a lifetime legacy at MJS

A great way to provide resources for MJS that help maintain its traditions

Make a gift of appreciated assets through a trust or will

Example

John and Mary have two children whom they have bequeathed a sizable percentage of their estate; both children had wonderful experiences at Mayfield Junior School. As a result, John and Mary left their residual assets of their estate to Mayfield Junior School to continue its mission.

Avoid capital gains and take income tax deduction

Buy low and give high — while avoiding capital gains tax

Use appreciated property instead of cash to make your gift

Example

John Smith bought stock in ABC Company ten years ago in the medical space. Since his purchase, the stock has steadily grown from a company worth one million dollars to five million dollars in ten years. He has donated a percentage of this growth stock to Mayfield Junior School avoiding capital gains taxes through this donation.

Leave more money of your estate to your heirs

Eliminate income tax on retirement plan assets and pass property to your heirs

Name MJS as beneficiary of your retirement plan and leave less taxed assets to your family

Example

Bob has a qualified retirement plan in place that he has contributed over his work career. No income taxes have been taken from his plan. He makes a gift to Mayfield Junior School from his fund, eliminating income and estate taxes. He gifts cash and other assets that have generated past income taxes to his heirs, family and friends. With a reduction in taxes, Bob may make a larger gift to Mayfield Junior School if he calculates the taxes that would have been paid at his death.

Receive benefits from the assets you give to MJS

Receive income for your lifetime — receive a charitable deduction — diversify your holdings

Create a life-income generating financial plan while giving to MJS

Example

John plans to transfer $100,000 into a Charitable Remainder Trust. The trust, according to the terms of the agreement, pays $5,000 annually to his children for ten years, establishing financial support to his three children. Upon the termination of the trust, the remainder of his appreciated assets is given to Mayfield Junior School.

Reduce high tax liability now and gain additional income later

Receive a larger tax deduction and higher income rate

Establish a deferred gift annuity

Example

Steve is currently 58 years old and currently employed. He expects to retire within a handful years and would like supplemental income to begin at that time. He and his two kids thoroughly enjoyed Mayfield Junior School and their experience there. By creating a deferred gift annuity, Steve can be eligible for an immediate tax deduction on the assets he uses to establish the annuity and set payments to begin upon his retirement.

Create a long-term gift that won’t draw funds from your estate

Increase your ability to make a significant gift to MJS

Create a new life insurance policy

Example

Out of gratefulness for Mayfield Junior School’s enriching education for his two sons and daughter, Kevin decided to purchase life insurance policies in each of his children’s names. He named Mayfield Junior School as co-beneficiary of each policy. His generous actions allow for the Kevin Smith Family Scholarship to be funded and the value of their growth can be seen in his children’s lifetime for the benefit of Mayfield Junior School.

Reduce gift and estate taxes leaving more of your assets to your heirs

Reduce gift and estate taxes while freezing the taxable value of growing assets before they pass to your family

Create a Charitable Lead Trust naming MJS for a fixed time, and then pay the remainder to your heirs

Example

Peter creates a Charitable Lead Annuity Trust naming Mayfield Junior School as the charity to receive payments for the term of years set forth in the trust agreement. Remaining assets pass to non-charitable beneficiaries designed by Peter, which allow his children to benefit from his philanthropic giving. The trust is structured to avoid transfer taxes, at its termination, any remainder interest — the appreciation of the trust assets above the IRS’s assumed rate of return — will pass to the donor’s children without gift or estate tax.

Utilize your appreciated assets to make a gift to MJS

Avoid capital gains tax and receive an income tax deduction

Use real estate to make your gift to MJS

Example

Joshua purchased his home years ago and watched it grow steadily in value. Active in his career and traveling frequently, he’s beginning to find home ownership more and more of a hassle. At this stage in his life, Joshua has decided to move into a condominium development, where interior and exterior maintenance is provided. Joshua sees this as an opportunity to give his house to a charity that is important to him while realizing valuable tax benefits. Joshua qualifies for federal income tax charitable deduction of $250,000, which is for his home’s fair market value today. He is able to claim 30 percent of his $200,000 adjusted gross income, or $60,000, in the year of the gift. In the five years following, he can continue to use up the remaining $190,000 deduction. Joshua is happy in his new condo knowing that the gift of his house will make a big difference supporting our mission.


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