CREATING Your legacy through
You can preserve your legacy at Queens College through some simple planning. A planned gift is a great way to give back to your alma mater while also receiving tax and other financial benefits. Future generations of students already benefit from generous alumni and friends who chose to include Queens College in their future plans. We invite you to join this dedicated group, known as the Jefferson Society, by establishing a gift in any of these ways.
Make an impact today with your intentions for tomorrow
A simple way to provide for the future of the College without taking away from your current assets is to include Queens College in your will or trust. Language can be included in your will stating a specific amount or a percentage of your assets that you wish to leave to the College. These gifts can provide tax relief for your estate and other heirs.
For sample language used in wills by other alumni,
"I give, devise, and bequeath to the Queens College Foundation, a private, not-for-profit 501(c)(3) tax-exempt organization, having as its principal address Queens College Foundation, 65-30 Kissena Boulevard, Flushing, New York 11367-1597 [specific dollar amount or percentage] for the College’s general charitable purposes.”
*For information about supporting a specific program or department, please contact our office
Make a gift for tomorrow that provides you with income today
At Queens College, you can establish a Charitable Gift Annuity with a one-time transfer of at least $10,000 in cash or securities. The College pays one or two individuals of your choosing a fixed income for life in return for your gift, at a rate determined by the age of the individual(s). While there is no minimum age to fund a gift annuity, the beneficiary must be at least 65 years old at the time payments begin. After the lifetime of the annuitant(s), Queens will receive the balance of your initial donation.
You are eligible for an immediate income tax deduction for the portion of your contribution that is considered a charitable gift, and the annuity payments may be partially tax-free during the life expectancy of the annuitant. You may also be able to reduce and defer capital gains taxes for donations of appreciated securities.
Make a large gift at little or no cost to you today
- Designating your retirement plan
Retirement plans can be one of the most heavily taxed assets in your estate. By naming Queens College as the beneficiary to a retirement plan, you can ensure that the entire amount will pass tax-free to the College to benefit future generations of students, as we are a not-for-profit, charitable organization.
- Designating your life insurance policy
You can also choose to designate Queens College as the beneficiary to a life insurance policy, passing the amount to the College after your lifetime. Or, if you transfer ownership of a life insurance policy to the College during your lifetime, you may qualify for an income tax charitable deduction.
All that is necessary is to request a change of beneficiary form from your plan administrator, and name the Queens College Foundation as a partial, full, or contingent beneficiary. Please use Queens College Foundation, 65-30 Kissena Boulevard, Flushing, New York 11367-1597 on the tax form, along with our tax identification number of 11-6080521.
Join our devoted group of benefactors: the Jefferson Society
The Jefferson Society is a group of alumni and friends who have included the College in their long-term plans. Named for Jefferson Hall, one of the oldest and most significant buildings on the Queens College campus (formerly Administrative Building 1), Society members are invited to special events and openings on campus, and are also granted special access to the Benjamin J. Rosenthal Library. We would be thrilled to welcome you to this group – simply inform us of your plans.
We are happy to speak confidentially with you further about any of these options. Please click here to contact our office, or call (718) 997-3920.
Please consult with your legal and/or tax advisors before making any decisions based on this information.