Bequests and Planned Gifts

Planned giving offers a way for donors to support the work of creative artists at The MacDowell Colony well beyond their lifetimes. By including MacDowell in their estate plans or choosing one of the other planned giving options below, donors can retain their current assets while enjoying tax benefits. Donors who make bequests and planned gifts to the Colony are welcomed into The Marian MacDowell Society, which honors the tireless dedication of one of the Colony’s founders and greatest advocates while recognizing the many Colony Fellows, friends, and supporters who have chosen to provide for the Colony’s future. Benefits of The Marian MacDowell Society are listed at the bottom of this page. To learn more about planned giving to MacDowell, you may download MacDowell’s planned giving brochure, Creating the Future, by clicking here.

Bequests
A bequest is one of the most popular ways to make a planned gift to MacDowell — one that often allows donors to make significant contributions that may not be possible during their lifetimes. Throughout its history, the Colony has benefited from legacies of assets, including cash bequests, stocks, real estate, rights to and royalties from works of art, and useful items such as books, equipment, and furnishings.

To make a bequest, include a provision or codicil in your will designating a fixed amount of assets or a percentage of your residuary estate to The MacDowell Colony. Bequests are fully deductible from your taxable estate and can therefore represent significant tax savings. We recommend that you have your will prepared by an attorney. Here is sample language you may wish to use:

“I give, devise, and bequeath ____ (describe dollar amount, property to be transferred, or percentage of your residuary estate) to The MacDowell Colony a not-for-profit corporation located at 100 High Street, Peterborough, NH 03458, for its general charitable purposes.”

Bequest Alternatives

• Retirement Plans represent one of the easiest and least expensive ways to make a planned gift. You can either make a donation directly from your plan or name The MacDowell Colony as the recipient of all, or a percentage of, any assets that remain in your retirement plan at your death. This designation is handled through the company that administers your plan. Bequests of retirement plan assets to MacDowell escape both income taxes and estate taxes, making them a financially savvy way of providing support for our program.

• Insurance Policies that are no longer needed for protection of your family can be restructured to name The MacDowell Colony as a partial or full beneficiary by completing a new beneficiary designation form, available from your insurance agent or directly from the company that issued your policy. Another approach is to irrevocably assign ownership of the policy to MacDowell by completing a change of ownership form. This arrangement makes it possible to secure an income tax deduction during your lifetime.

Planned Giving Strategies
There are many additional ways you can incorporate MacDowell into your financial and estate planning. The following options also carry tax deductions and other benefits, including trusts that provide you and/or your loved ones with lifetime income.

• Charitable Lead Trusts provide MacDowell with a fixed annual income stream through a trust arrangement while making it possible to transfer significant assets to your heirs at greatly reduced transfer taxes. The monthly discount rate used to determine gift taxes on the gift to your heirs has dropped to historic lows, making the charitable lead annuity trust very attractive as a wealth transfer strategy. This is a creative way to support MacDowell while planning the transfer of wealth to your children. 

• Charitable Remainder Trusts provide a regular income stream for you and/or other beneficiaries during your lifetime, and MacDowell receives the remainder of the trust. Your income tax deduction is based on the fair market value of the donated assets, and any capital gains realized by the trust are protected from capital gains taxes until they are distributed to the income beneficiary.

Donors should always check with their own legal or financial advisors regarding bequests and planned gifts. Although MacDowell does not offer tax or legal advice, we would be pleased to assist you and your legal or financial advisors. Please feel free to contact Wendy Belser, director of development, at 212-535-9690 or via to discuss your estate planning.

The Marian MacDowell Society
The Marian MacDowell Society honors the many Colony Fellows, friends, and supporters who have chosen to provide for MacDowell’s future by making a bequest or other planned gift. The society was established in the spirit of Marian MacDowell, who founded the Colony with her husband, renowned composer Edward MacDowell, and devoted the rest of her life to nurturing the creative pursuits of artists at the Colony. Members of The Marian MacDowell Society receive invitations to special events and are recognized in the Society’s Membership Honor Roll, in MacDowell publications, and on permanent signage in Colony Hall (or you may request anonymity).

We would greatly appreciate it if you would inform us of any provisions in your will or trust that support The MacDowell Colony. We will, of course, keep your estate plans confidential.