The Academy’s planned giving program provides a variety of creative and flexible ways for you to support the Academy now and into the future, while fulfilling your own charitable and financial goals at the same time. You can make a gift that the Academy can use right away or a gift that will benefit the Academy at some point in the future. You can also make a gift that will provide income back to you. By making a planned gift, you will join a special group of supporters who have made an investment in the future of the Academy of Natural Sciences and ensure the continuation of the Academy’s work for generations to come.
There are many ways to make an estate gift to the Academy. We will be happy to work with you and your advisor to determine the one that is right for you. Below are brief descriptions of the most popular gift options; you may also want to view the quick guide to planned gifts at the Academy.
Bequests are the most popular type of deferred gift. You can include a gift in your original will or revocable living trust or add one later by an amendment. The gift can be for a specific amount of money, specific piece of property, or a percentage of your estate. Once family, friends, and other loved ones are cared for, the Academy can find a place as part of your life’s legacy. The following is sample bequest language to share with your attorney:
I, [name], of [city, state, ZIP], give, devise and bequeath to the Academy of Natural Sciences of Philadelphia [written amount or percentage of the estate or description of property] for its unrestricted use and purpose.
Retirement Plan Assets
You can designate the Academy as the beneficiary of your IRA or other retirement assets such as 401(k) and 403(b) plans and the Academy will receive the funds upon your passing, or you can make outright gifts during your lifetime from these same assets that the Academy can use immediately. You can leave just a portion to the Academy or the entire balance. Retirement assets, such as a 401(k) and an IRA, can generate estate and income taxes, leaving little for your heirs. By designating the Academy as a beneficiary you can potentially avoid these taxes while supporting natural science research and discovery at the same time.
Life Insurance Gifts
You might have a paid-up life insurance policy that you no longer need. You can make a gift by transferring the policy outright to the Academy or naming the Academy as a beneficiary, similar to retirement assets. Or you might think about taking out a new policy benefiting the Academy and receive tax benefits with each premium paid.
Charitable Gift Annuity
You make a gift to the Academy and in exchange receive income for life for you and/or a loved one. Not only is a gift annuity easy to arrange, but your payments are fixed in amount and backed by the assets of the Academy.
Charitable Remainder Trust
A charitable trust is another way to make a gift and receive income for life. It is more flexible in nature than a gift annuity and can allow you to meet different personal goals. Your payments can be either fixed or variable in amount.
Charitable Lead Trust
This trust arrangement allows you to make current gifts to the Academy while passing your assets along to heirs sometime in the future, often with greatly reduced estate and gift taxes. It can also be arranged so that the remaining trust principal returns to you at the end of the trust term.
Thank you for considering remembering the Academy in such a special way. We look forward to working with you to find the best gift for your circumstances.
Can we help you?
We would be delighted to talk with you about how you can support the Academy as well as achieve your own financial goals. For more information on the Academy’s Planned Giving program and giving options, please contact:
Meg Clifton North
Vice President for Institutional Advancement
1900 Benjamin Franklin Parkway
Philadelphia, PA 19103
There are no obligations, and all inquiries will be kept strictly confidential.
The official registration and financial information of the Academy of Natural Sciences may be obtained from the Pennsylvania Department of State by calling toll-free, within Pennsylvania, 1-800-732-0999. Registration does not imply endorsement.