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Remembering Marietta City Schools With a Planned Gift to the Marietta Schools Foundation

We are always humbled when we learn of a person leaving a bequest to the Marietta Schools Foundation in their will.  Graduates of Marietta High School have traveled and lived widely in the world, but even after many years, Marietta City Schools still holds a special place in their hearts.

Planned Giving or Legacy Giving provides alumni with the opportunity to create a lasting legacy and continue the mission The Marietta Schools Foundation to avidly support the students, educators, and staff of Marietta City Schools.

Bequests are just one way of making a planned gift.  Gifts can be unrestricted or designated to a program or endowment that was close to a donor’s heart.  Gifts can have an instant impact on the Foundation and the school system.

The Marietta Schools Foundation has 50 endowments that are designated toward scholarships, Mentoring for Leadership, the Student Life Center, the Marietta Performance Arts Center, the Marietta City Schools Band Association, to name just a few.  (See the complete list of endowments below.) The more these endowments grow, the more they support Marietta City Schools.  Or you may wish to establish your own endowment at the Foundation to support MCS.

The Marietta Schools Foundation is a 501(c)(3) nonprofit organization (TIN 58-1524893).  It's important to know that the Marietta Schools Foundation is very special in many ways, but foremost is that we do not charge fees or take away any money from gifts or contributions at all.  No service fees.  No transaction fees.  No handling fees.  Nothing.  One hundred percent of all contributions go toward the donor’s intended purpose.

Below is some sample copy to create or designate a bequest to the one of our 50 endowments.  Your estate planner can also provide you with an additional copy for your specific needs, especially if you’d like to create your own endowment.

As mentioned, bequests are just one way to make a planned gift.  There are other options available for you to provide a planned gift.

If you are 70 ½ or older, you can make a Qualified Charitable Distribution from your IRA. A QCD is a direct transfer of funds from your IRA custodian, payable to a qualified charity. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, as long as certain rules are met.

Many IRAs are eligible for QCDs—Traditional, Rollover, Inherited, SEP (inactive plans only), and SIMPLE (inactive plans only).  In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.   A tax advisor can help you make a QCD.  No attorneys are required.

You purchase a life insurance policy of any amount and name the Alumni Society or one of the other endowments as the beneficiary.  Upon death, the organization will receive the full benefit of the policy.

Gifts of stock or securities can be made at any time to the Foundation.  Transfers can be made directly into our brokerage account.  Donating stock to a charitable organization allows you to avoid paying capital gains on that stock, plus the amount of the stock transfer will qualify for a charitable deduction.

You can choose to donate real estate to the Foundation.  You receive the value of the land as a charitable contribution.

The Marietta Schools Foundation is here to provide general information on planned gifts, but you will want to work directly with a certified financial planner or estate attorney for specific advice on your needs.

Suggested Wording for Your Bequests to The Marietta Schools Foundation

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I give ($______) or (_____%) of my disposable estate to be used for the benefit of the (Choose One or More endowment(s) from the list below, at The Marietta Schools Foundation, Marietta, Georgia.)

After payment of my expenses, debts, and specific bequests, I direct that the residue of my estate is to be distributed in this manner.  (______%) to be used for the benefit of (insert “The Marietta Schools Foundation” and choose the specific endowment(s) from the list below.)

I bequest to The Marietta Schools Foundation (choosing a specific endowment from the list) in Marietta, Georgia any part of my estate that other beneficiaries are unable to receive because of death or other reasons.

Stipulating that in the event of such circumstances, all or part of your estate is to be given to (specify the particular endowment) at The Marietta Schools Foundation, Marietta, Georgia.

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