The success of UCS, and it's students, is in your hands.

The greatest achievement of UCS is the success of it's students. Our supporters, past and present help our students become successful and fulfilled adults.

Planned Giving

Planned giving is a means to accomplish both your personal financial and charitable giving goals, in addition to realizing substantial tax benefits.

Through a planned gift, you can maximize the personal financial benefits of charitable giving and make a larger gift to Urban Community School than you may have thought possible.

Gift Planning offers a way to make a meaning gift  that takes advantage of any available tax benefits. Many times a planned gift can substantially reduce or even eliminate income and transfer taxes, while turning appreciated assets into income for yourself or others.

Please note: The information listed herein is not intended as legal advice. UCS recommends consulting your attorney and/or your tax professional to determine the course of action best for you.

Estate Gifts or Bequests
Estate gifts, or bequests, are perhaps the most simple way to give a planned gift to UCS. You can designate Urban Community School to receive a predetermined amount or percentage of your estate per your will.

Benefits:

  • Is a simple way to make a planned gift to UCS.
  • Allows you to make a greater contribution to UCS than you may have been able to afford in your lifetime.
  • Your heir realizes significant tax savings (both estate and income taxes) if your estate is passing to someone other than a spouse.

Beneficiary Designations
You can designate UCS to receive your life insurance policy or your retirement, in whole or in part. These plans allow for flexibility as you can designate Urban Community School as either the primary or secondary beneficiary.

Life insurance policies
If you still carry a life insurance policy that you no longer need, you can designate UCS as the beneficiary and owner.

Benefits:

  • You receive a charitable tax deduction the year you make UCS the policy owner and beneficiary.
  • It may reduce your estate taxes.
  • It is an easy way for you to make a significant contribution to UCS.
  • If you are still paying premiums, UCS can make the payments. You then reimburse UCS for the cost, which is also tax deductible.

Retirement gifts
Did you know that retirement assets face double taxation? They are subject to both estate and income taxes. By designating UCS as your retirement beneficiary you'll significantly reduce, or possibly eliminate, the amount of taxes your heir will face.

Benefits:

  • Your heir receives a substantial decrease in, or avoidance of, income and estate taxes.
  • Allows for flexibility of gift designation as you can:
    * designate only a portion of the assets to UCS.
    * designate UCS as the secondary beneficiary.

Charitable Trusts
Two basic types of charitable trusts exist, charitable remainder trusts and charitable lead trusts.

Charitable Remainder Trusts (CRTs)
A charitable remainder trust is an irrevocable trust into which you place your assets and you (and/or another beneficiary) receive lifetime income from them. After your lifetime (and the lifetime of any subsequent beneficiary) the remaining trust assets go to UCS.

Benefits:

  • You receive income during your lifetime.
  • Your estate beneficiary realizes a substantial income tax reduction.
  • You may reduce or eliminate capital gain tax if you donate long-term appreciated securities.

There are two types of charitable remainder trusts.

  • Annuity trust
    A CRT in which you receive a set income payment for life, determined at the time you initiate the trust
  • Unitrust
    A CRT in which you receive a predetermined, set percentage of the trusts value. The value is recalculated annually

Charitable Lead Trusts (CLTs)
Charitable lead trusts are similar to CRTs except payments are made first to the school and the balance goes to your heir. Lead trusts pay a fixed or variable income, usually for a set number of years after your lifetime. When the term ends, your designated beneficiary receives the principal.

Benefits:

  • CLTs can be funded during your lifetime or through your will.
  • They allow you, and/or your heir, to realize both philanthropic benefits and tax savings.
  • Allows you to make a sizeable gift to UCS.
  • The balance in the trust, after the payments to the school, returns to you or your beneficiary.

Gifts of property
You can designate gifts of property, such as artwork, books or equipment, to UCS as well. These gifts can be made either during your lifetime or as part of your will.

Urban Community School will be happy to work with you, your tax professional and/or attorney to help select the option that is best suited for your needs and interests.

If you have any questions about the above listed opportunities, or would like to discuss planned giving to UCS, please contact UCS Director of Development, Tom Gill at 216-631-4353.

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