ways of giving : planned giving

Gift planning is an important tool for many donors to make significant gifts to MECA while enjoying tangible tax savings in return. Planned gifts may include gifts of cash or appreciated securities in exchange for a guaranteed life income, real estate, life insurance policies, bequests, or combinations of outright and deferred arrangements. MECA will work closely with you to accomplish a planned gift that is right for you and benefit the College simultaneously.

Through the generosity of its many friends and supporters, Maine College of Art continues to be a stimulating environment for today's aspiring artists, scholars, and designers. Planned Giving to the College ensures the continuation of its mission and is a lasting way for you to personally show your support.

Financial support for MECA strengthens the underlying foundation of its successful educational programs. With some planning, a gift can benefit the College and create tax advantages for the donor. There are several means of making planned gifts. Please consult with us on how these different forms might be most beneficial to you.

For more information about making a planned gift to the Maine College of Art, contact Tim Kane, Vice President for Advancement at 207.879.5742 ext. 714 or tkane@meca.edu.

• Special Opportunity!
  A remarkable $500,000 challenge has been made to the College this year. Your gift to endowed scholarships can help release an additional $500,000 gift to help provide financial assistance to
  MECA's BFA and MFA degree students. Please consider your gift in support of student scholarships.

• Bequest:
  A bequest by will is a lasting reminder of your personal support for the Maine College of Art and for higher education in the visual arts. You may give a percentage your estate or a specified amount to the college. You may specify how the College should use your gift, whether it is for general purposes or for a special area of interest. Members of the Advancement Office staff will be happy to discuss your plans or answer any questions you might have. Sample bequest language is available.

• Charitable Remainder Trust:
  A Charitable Remainder Trust (CRT) allows you to make a gift to MECA while retaining an income from your gift during your lifetime and the lifetime of your spouse. With a CRT, a trust is established paying an income to the donor - and possibly to others - for life. After the deaths of the last beneficiary, the trust reverts to a fund of your choice at the College. As a Charitable Remainder Trust donor, you often enjoy an income tax deduction based on the value of the gift, which will eventually pass to the College. This kind of planned giving can convert a low yielding security into property, often producing a higher rate of income at a minimal tax cost.

• Charitable Lead Trust:
  A variation on the Charitable Remainder Trust, the Lead Trust pays the College a fixed or variable income for a term of years, then reverts back to you or, more commonly, pass to your children. Income, estate and gift tax deductions for the value of the income MECA will receive during the term of the gift depend on your relationship with the trust, how long the trust lasts, the amount of MECA's income and the interest rate ascribed to the trust by the IRS.