Endowment gifts provide a permanent source of support to Carroll and make an impact on students and faculty for years to come. Just as an individual’s savings or investments can provide a degree of security, endowments provide Carroll with a wonderful source of funding for the future. There are many types of assets you can use to make an endowment gift. Cash gifts may be designated to an existing endowment or used to establish a new endowment.
What are the ways I can contribute to the Torch Society?
There are several ways to make an endowment gift to the Torch Society of Carroll High School:
- An outright gift during life
- A deferred gift, such as a gift through a will or trust
- A blended gift, such as a gift through a will or trust
- A blended gift, such as a gift from your estate that is added to an outright gift
- A gift directly from your IRA if you are 70 ½ or older
Are there other ways to contribute to the Torch Society?
Another easy way to provide an endowment gift is by donating a new or existing life insurance policy. Policies no longer needed for their original purpose also may be an excellent source for such gifts. Or, you may find that retirement plan assets provide one of the most efficient sources for gifts to endowments.
Is there sample bequest language that can be used for estate planning and designation?
If you are considering making Carroll High School part of your legacy, here is some suggested language you may want to share with your attorney:
- “I give and devise to Carroll High School (Tax ID # 31-0641401 ), located in Dayton, Ohio, All (or __ %) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).”
Donors should consult with their attorneys and/or accountants before making substantial charitable gifts.