Frequently Asked Questions
- What is planned giving?
Planned giving enables donors to support The Pingry School, either during their lifetime or at death, as part of their overall financial or estate planning.
While some planned gifts provide a lifelong income to the donor and/or loved ones, others use estate- and tax-planning techniques to provide for charity and other heirs in ways that maximize the gift and/or minimize its impact on the donor's estate.
This type of charitable giving can be very attractive to both donor and charity, whether a donor uses cash, appreciated securities, real estate, artwork, partnership interests, personal property, a retirement plan, etc.
- Why should I consider a gift to The Pingry School?
Gifts are made for many different reasons. Often gifts are made:
- To express gratitude for the education you received.
- To honor a loved one.
- To ensure Pingry will remain a vibrant and strong place for future students.
- To help Pingry provide the very best education to our students, regardless of their finances.
- To celebrate a special occasion.
- Why planned giving?
Planned giving is a smart, structured way to make a gift to Pingry in a way that best works for you. Through many different planned giving options, you can support Pingry’s mission—while establishing a legacy, becoming an integral and active part of the Pingry community, and making more possible for the School, for programs, and for the next generations of students.
Planned gifts also give back; they can provide income for you and your loved ones for life. They allow you to take sizeable income-, gift-, and estate-tax deductions and provide favorable capital-gain tax treatment. In addition, many types of planned gifts (namely trusts and annuities) may allow the donor to receive an agreed-upon income for life or for a specific number of years. Planned gifts allow you to leave a legacy that fits your philanthropic goals.
- Can I direct how The Pingry School will use my gift?
Most often the answer to this is “yes”!! Many donors direct that their gifts be used to fund endowed scholarships, ongoing programs, or to remember a loved one. Please be sure to discuss this when you make your gift.
- I am unable to make a current gift, but I'd still like to support Pingry in the future. Any ideas?
An easy and low-cost way to make a gift to The Pingry School is to include Pingry in your will or revocable trust. Gifts by will are a major source of endowment support at Pingry. Each individual legacy contributes to our financial strength and ability to meet the needs of our students and their families. If you have not already done so, please consider putting Pingry in your will or revocable trust. See our Bequest Language page for samples of how to do this. You can also designate Pingry the beneficiary of annuities or retirement-plan benefits.
- What other kinds of gifts can I give?
During your lifetime, you can make an outright gift of cash, securities, or other property (e.g., real estate, personal property). You can also make a gift through your revocable trust or a distribution from a retirement plan.
The Pingry School also has many plans for Gifts That Pay You Income. These life-income gifts include charitable gift annuities and charitable remainder unitrusts. The income from this type of gift can increase cash flow now and/or during retirement, pay for a college education, provide income for aging parents, or perhaps assist a loved one with special needs. You may also include a provision in your will establishing these gifts for the initial benefit of a loved one (such as a spouse, child, or friend) and the ultimate benefit of The Pingry School.
Establishing a charitable lead trust is another way you could provide income to Pingry.
- What kinds of assets can I use?
Almost anything: cash, publicly traded securities, or the balance in your retirement account. Other assets—such as real estate, closely held stock, and artwork—can be complicated to administer, so Pingry reviews them before accepting. Please contact Pingry’s Office of Institutional Advancement if you are interested in funding a gift with these types of assets.
- How can my planned gift count as a donation to Pingry?
Your planned gift can be counted as a donation with the appropriate documentation. A planned gift can come in many forms. Specific options include, but are not limited to:
- Bequest: A charitable bequest is a gift designated to Pingry in your will. Documented bequests that include either an amount or a percentage of an estate will be credited according to the individual’s age as of the documented date of the gift. Please Request a Calculation to learn more.
- IRA (401k) beneficiary designation: An individual may make a gift of all or a portion of his or her IRA to be given to Pingry upon death.
- Charitable gift annuity (CGA): Through a simple contract, you agree to make a donation of cash, stocks, or other assets to The Pingry School. In return, you (and someone else, if you choose) receive a fixed amount of income each year for the remainder of your lifetime.
While these are three common types of planned gifts, there are many more. To learn about other options, please visit Ways to Give.
- How will Pingry recognize my gift?
If your gift is a bequest commitment or through life-income plans or lead trusts, you will become a permanent member of the C.B. Newton Society. Of course, we will also honor any requests for gifts to be anonymous.
- Why should I inform Pingry of my planned gift?
Informing Pingry of its place in your estate plan allows us to recognize you for your generous contribution and commitment to the Pingry community. With knowledge of your plans, we can ensure that your money is designated exactly where you intend and that your legacy remains standing at Pingry for many decades. In addition, if you document your bequest with Pingry, your gift will be counted as an expected donation for the School and you will be welcomed into the C.B. Newton Society.
- If I create a bequest or life-income gift, will Pingry continue to ask me for annual contributions?
Yes, we will, because they address two distinct needs—the School’s long-term and immediate financial strength. Of course, how and when you give to Pingry is always up to you.
- What is Pingry’s legal name and tax ID number?
Legal name: The Pingry School
Federal tax ID number: 22-1493168
Located in: 131 Martinsville Road, Basking Ridge, NJ 07920
Please contact the Office of Institutional Advancement at (908) 647-5555 for a copy of our tax letter.
- Where can I go to learn more about planned giving at Pingry?
To learn more about planned giving at Pingry, please visit the Planned Giving pages on our website or contact Holland Sunyak in the Office of Institutional Advancement at 908-647-5555, ext. 1284, or at email@example.com for assistance. We will be happy to guide you and make the process simple and convenient. Your tax advisor can also assist you in making the right decision for you and your estate plan.
Together, we can ensure that The Pingry School continues to provide an unparalleled education for generations to come!
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