Planned Giving: Exploring the Options
The American Philosophical Society welcomes gifts through its Planned Giving Program. Over the years—dating back to the 18th century—the Society has been the recipient of bequests and other planned gifts in support of its mission of “promoting useful knowledge.” The Society invites prospective donors to “explore the options” for making such contributions, which can often be tailored to the donor’s financial priorities.
The Society is pleased to announce the completion of the Mainwaring Challenge for new planned gifts. Bruce and Peggy Mainwaring, co-chairs of the Society’s Planned Giving Committee, offered to match up to $1 million to encourage APS Members and Friends to support the planned giving program through bequest commitments and life income gifts. The Mainwaring Challenge resulted in $1,067,000 in new planned gifts, and the Mainwarings have generously added $1 million (unrestricted) to their own wills. We thank them for energizing the planned giving program in this way, and for their vision and generosity.
In recent years, bequests, “life income gifts,” and other such charitable instruments have supported the Society’s Library, research program, and Meetings. Some examples of planned gifts include (hover over each entry for a general description):
Although many planned gifts are “win-win” situations for donors and charities, each type of gift has its own rules and implications for charitable deductions, estate taxes, etc. that should be thoroughly explored to assure that they are compatible with the donor’s financial and/or estate planning.
The Society recognizes donors of planned gifts through the Richard A. F. Penrose, Jr. Association. Dr. Penrose, a Member of the Society for 26 years, bequeathed nearly $4 million to the Society in 1931. Today that bequest accounts for some 50% of the Society’s endowment ($133 million as of June 30, 2012). Dr. Penrose’s legacy highlights a tradition of generosity that dates to the Society’s earliest days. Since the establishment of a formal Planned Giving Program in 2003, approximately 100 individuals or couples, both Members and Friends of the Society, have become Penrose Associates.
If you have already included the Society in your estate plans, or if you would like more information on bequests and other planned gifts (such as those that can provide an income stream for the donor and/or a spouse), please contact Nanette Holben at 215-440-3434 or nholben [at] amphilsoc [dot] org, or you may click the link below to contact the Development Office.