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Planned Giving FAQ

What is meant by planned giving?

Planned giving refers to gifts that will benefit Marymount in the future while helping the donor achieve his or her personal financial goals today.

The astonishing thing about planned giving is that it often allows donors to make a larger contribution than they thought possible because of the tax and income benefits available to them.

What are the potential tax and income benefits to me, the donor?

Take the case of someone who has an asset—such as a certificate of deposit that is coming due—that can no longer garner the interest income it once did. By using that asset to establish a charitable gift annuity for the ultimate benefit of Marymount, the donor receives an immediate charitable income tax deduction and also receives quarterly income for life at a very attractive fixed rate, some of which is protected from income tax. For details and annuity rates, see our Life-Income Gifts page.

With these tax and income benefits, the gift to Marymount generally costs the donor considerably less than its initial value!

Can assets other than cash be used for a planned gift arrangement?

Yes! Donating appreciated assets such as securities or real estate can bring even more benefits to the donor. By giving these assets to Marymount to establish a charitable gift annuity or a charitable remainder trust, the donor reduces or eliminates capital gains tax liability and still receives tax and income benefits. For details and rates on gift annuities and trusts, see our Life-Income Gifts page.

There are several methods by which real estate can be donated, including some in which the donors retain lifetime use of the property.

What about estate planning?

Estate planning is an important component of planned giving.

Donors who want to remember Marymount in their estate plans should have a will that ensures that their wishes will be carried out. (If you don’t have a will, the state will decide where your assets go!) A bequest to Marymount can easily be included in your will and may help your heirs avoid some estate tax. Please talk with your lawyer about appropriate bequest language; a member of the MU Development staff will be happy to assist.

Please let Marymount know of your bequest intentions so that we can recognize you as a member of The Majella Berg Society!

Can my planned gifts be designated for a purpose of my choosing?

Yes, certainly. While unrestricted gifts and bequests are especially helpful because they can be used for the highest priority at the time, you are free to designate a particular use for your gift. Contributions for endowment, for example, are always priorities, and may be designated for student scholarships, faculty support, student life, the library, athletics, or a specific program in a designated School or department.

How do I find out more about estate and planned giving opportunities at Marymount?

Please contact the Office of Development at (703) 284-1647 or email us.