Planned Giving Opportunities

Planned Giving

WHY A PLANNED GIFT?

Through planned giving you can make a significant contribution to the Center without compromising your current financial position. Some planned gifts can provide you with additional income. Many reduce your taxes. The greatest benefit, however, is knowing that you have strengthened the school’s ability to transmit the passion for craftsmanship to future generations.
To discuss a planned gift, we encourage you to contact our Executive Director, Peter Korn, at 207-594-5611 or peter@woodschool.org.

Gifts that Ensure the Center's Future

Bequests
You can leave a specific gift or a portion of your estate to the Center for Furniture Craftsmanship in your will. In some cases your estate could receive a reduction in federal and state income taxes.

Life Insurance
If you no longer have a need for the benefits, you can contribute your life insurance policy simply by naming the Center for Furniture Craftsmanship as its owner, beneficiary, and/or partial beneficiary.

Retirement Plan
By naming the Center as a beneficiary of your retirement plan you may eliminate double taxation, where both income and estate taxes would be levied on retirement plan assets left to your heirs.

Gifts that Pay You Income

Charitable Remainder Trust
With a CRT you can place cash or property in a trust that benefits you and/or another person for life and receive immediate income tax benefits. After the deaths of all beneficiaries, remaining principle is transferred to the Center for Furniture Craftsmanship.

Gifts the Center Can Use Today

Charitable Lead Trust
Through a CLT you can place cash or property into a trust that benefits the Center for Furniture Craftsmanship for a specific number of years. Once this period ends, the assets held by the trust are transferred to individuals whom you’ve named. In some cases you receive a substantial reduction in federal gift and estate taxes.

Real Estate and Appreciated Securities
Gifts of real estate or securities that have appreciated in value can provide you with significant tax advantages. You may be able to take a charitable income tax deduction for the full value of the gift and eliminate capital gains tax on the sale of the asset.

WHAT YOUR GIFT CAN ACCOMPLISH!

In making a planned gift, you can also decide how you would like to see it used on behalf of the school. Should it become endowment that provides income to the school in perpetuity? Should it be spent outright to improve a particular program or facility? Or would you prefer to have the Board of Directors determine how your gift can best serve the school’s interests at the time it is received?

Specific areas you might choose to support through endowment include:

Scholarships
Your investment in the Scholarship Endowment will enable talented individuals, who could not otherwise afford tuition, to engage in life-changing, educational experiences.

Fellowships
Your gift to the Fellowship Endowment will provide emerging professional furniture makers, turners, and carvers with advanced, creative opportunities to jumpstart their careers.

Faculty Development
Your generosity to the Faculty Endowment will strengthen the school’s greatest resource—its ability to attract exceptional professional woodworkers from around the globe to its faculty.    

Facilities
Your contribution to the Maintenance Endowment will keep our campus, buildings, and equipment in topnotch condition for future generations of students and instructors.

Visiting Artists
Your donation to the Visiting Artist Endowment will enable outstanding professional woodworkers to inspire our students and Studio Fellows while exploring fresh directions in their own work.
Building on the school’s record of strong financial stewardship, your planned gift will be managed with competence and respect.

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Acorn Society members also receive invitations to all exhibitions and events, plus year-end reports from the Executive Director.

 

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