Make a Planned Gift

Wills, Bequests, and Estate Plans

Join the IYRS Legacy Society by making a planned gift and leave your lasting and impactful legacy on our school. IYRS was built by donors with a passion for craftsmanship and your legacy gift will support our important mission even after you are gone. There are many ways to make a planned gift. If you own real estate, or have a life insurance policy or retirement plan, you have assets that can be used to make a planned gift to IYRS.

IYRS School of Technology & Trades is a 501(c)(3) private nonprofit organization. Donations made
may be tax-deductible to the extent allowed by law.

Ways to Make a Planned Gift

Name IYRS in Your Will

Making a bequest to IYRS in your will is a simple and meaningful way to make a positive impact and is a commonly used method for donors to support their favorite charities. Both monetary and physical assets can be bequeathed to IYRS in your will. If you are interested in bequeathing physical assets to IYRS, please contact Liz Isdale, Director of Philanthropy, at 401.848.5777 x218 to let us know your intent. Here is some example bequest language.

PERCENTAGE OF ESTATE- FOR UNRESTRICTED PURPOSES
• I hereby give, devise and bequeath to IYRS School of Technology & Trades, a nonprofit, non-stock Rhode Island entity with its principal office in Newport, Rhode Island, _____ percent (%) of the rest, residue and remainder of my estate as an unrestricted gift to be used in the area of greatest need at the time the gift is received.
• I may choose at a later date to enter into a separate agreement between myself and IYRS related to the
use of this gift and would request that IYRS utilize the gift in accordance with the terms of that agreement.

PERCENTAGE OF ESTATE- FOR A SPECIFIC PURPOSE
• I hereby give, devise and bequeath to IYRS School of Technology & Trades, a nonprofit, non-stock Rhode Island entity with its principal office in Newport, Rhode Island, _____percent ( %) of the rest, residue and remainder of my estate to be used for _______________ at IYRS. It is understood and agreed
that should the purpose for which this bequest is instituted cease to exist, then IYRS may devote said
bequest for such other uses and purposes as it determines to be in accordance with my original intent in making this gift.

SPECIFIC AMOUNT- FOR UNRESTRICTED PURPOSES
• I hereby give, devise and bequeath to IYRS School of Technology & Trades, a nonprofit, non-stock Rhode Island entity with its principal office in Newport, Rhode Island, the sum of _______ dollars ($ ) as an unrestricted gift to be used in the area of greatest need at the time the gift is received.
• I may choose at a later date to enter into a separate agreement between myself and IYRS related to the
use of this gift and would request that IYRS utilize the gift in accordance with the terms of that agreement.

SPECIFIC AMOUNT- FOR A SPECIFIC PURPOSE
• I hereby give, devise and bequeath to IYRS School of Technology & Trades, a nonprofit, non-stock Rhode Island entity with its principal office in Newport, Rhode Island, the sum of __________ dollars ($ ) to be used for _____________________________at IYRS.
• It is understood and agreed that should the purpose for which this bequest is instituted cease to exist, then IYRS may devote said bequest for such other uses and purposes as it determines to be in accordance with
my original intent in making this gift.

Name IYRS as a Beneficiary of Your Pension, IRA, or 401k

Name IYRS as a Beneficiary of Your Life Insurance Policy

The most straightforward approach is to designate a charity as the beneficiary of a permanent policy, such as whole life. This type of policy, which covers someone for their entire life provided the premiums are paid, differs from term insurance which covers someone for a defined period of time (after that set time term insurance policies usually have provisions for continuing coverage, albeit at higher premiums). When making a charity the beneficiary of a permanent policy, the donor retains ownership of the permanent policy and, therefore, has continued access to the policy’s cash value.

Naming a charity as a life insurance beneficiary is simple: you write in the charity name on your beneficiary designation form. Life insurance policies allow you to pick multiple beneficiaries and even specify what percentage of the death benefit should go to each beneficiary.

Take Action Contact your plan administrator to add IYRS as a policy beneficiary.

Create a Charitable Gift Annuity

Transfer your cash or appreciated property to IYRS in exchange for a partial tax deduction and payment of an annual fixed income for the rest of your life. Charitable gift annuities allow you to receive income and realize a tax benefit while providing financial support to IYRS.

For more information, contact your financial advisor. If you would like a financial advisor referral, please contact Liz Isdale, Director of Philanthropy, at 401.848.5777 x218.

Create a Charitable Lead Annuity Trust

A charitable lead annuity trust allows you to provide funding to IYRS for a designated period of time while alive, or in your estate plans, with the remaining assets distributed to you or your loved ones estate- and gift tax-free after the time period expires.

For more information, contact your financial advisor. If you would like a financial advisor referral, please contact Liz Isdale, Director of Philanthropy, at 401.848.5777 x218.

Create a Charitable Remainder Annuity Trust

If you are age 55 or older, an annuity trust can be established by transferring cash or securities in trust to IYRS. If you select IYRS as trustee, it manages the trust for you and/or other designated income beneficiaries. The trust provides you with an annual fixed income amount that is percentage of the initial fair market value of the trust assets. These fixed payments continue for your life and the lives of any other beneficiaries. Any income earned by the trust that exceeds the annuity amount is added to the trust principal. If trust earnings are insufficient to meet the annuity amount, principal is used to make up the deficit.

An annuity trust entitles you to a current-tax-year charitable deduction. In addition, you avoid having to pay capital gains tax on the appreciation in the year of the gift and can instead spread this liability over a period of years. Upon the death of the last surviving income beneficiary, the assets in the trust pass to IYRS. No additional contributions can be made to this type of trust.

For more information, please contact Liz Isdale, Director of Philanthropy, at 401.848.5777 x218.

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