|The Bicentennial Society: Planned Giving|
Planned giving is a thoughtful way to make a charitable gift to help future generations of Chi Psi brothers enhance their fraternal and educational experience. Planned giving helps in two ways: It provides much needed funding for the Chi Psi Educational Trust, while also benefiting your family and heirs.
There are numerous ways to give that will have a tremendous, long-term impact on Chi Psi. Some of the most common and popular strategies available to alumni or others who wish to make a planned gift to the Chi Psi Educational Trust are:
Bequests can be added to your will at any time. Adding a bequest to your estate plan can be as simple as creating a codicil in your will. A codicil directs your estate to give something specific to the Chi Psi Educational Trust without rewriting your entire will. The following is a sample of the language that might be used in your codicil:
I bequeath to the Chi Psi Educational Trust the sum of $____ or _____ percentage of my estate (or specific securities or other property). Said Trust is a nonprofit 501 (c) 3 corporation (Federal ID number is 03-0386312), with administrative offices at 45 Rutledge Street, Nashville, TN, 37210. This gift is unrestricted for general Trust purposes.
Existing policies may have the Chi Psi Educational Trust named as the beneficiary. Alumni may also purchase a policy with the Trust as the beneficiary. Donors may deduct the premiums for policies purchased for the benefit of the Trust.
Charitable Remainder Trusts
The Trust is donated to the Chi Psi Educational Trust, but the alumnus continues to receive income from it while living. Alumni donating a trust avoid any capital gains tax on the donated assets and also receive an income tax deduction for the fair market value of the remainder interest earned by the trust. In addition, the asset is removed from the estate, reducing subsequent estate taxes.
Brothers who include the Chi Psi Educational Trust as a beneficiary in their estate plan through their will, insurance policy, trust, IRA or other deferred gift are recognized in the Trust’s Bicentennial Society.
Thank you for supporting the Trust. If you have any questions at all about this type of giving, please contact Harold Arnwine, Bicentennial Society Chairman.