Our supporters make all our work possible, and planned giving is a powerful way to leave a legacy in the lives of children and families. Giving to Friends Center through estate planning allows you to achieve your personal, financial, and philanthropic goals while investing in our mission to: educate children, empower families, inspire teachers, engage community, embrace diversity, embody equity.
Your gift will help hundreds of young children grow and thrive, and help Friends Center expand to meet the need for equitable access to high-quality early childhood education. Children, families and teachers alike will be impacted by your gift for years to come.
A lifetime impact
I love that Friends Center aspires to bring the best possible early childhood education to families regardless of their financial circumstances. I put Friends Center in my will because I want all the wonderful things it offers to continue to be available far into the future. I hope that my gift will be used to nurture the school’s grounding in the Quaker ideals of equity, community and integrity, and that it will encourage others to think about widening the circle of care in this way. It’s easy to do and you will feel really good when you have done it! – Jane Coppock
Jane Coppock, a long time board member and volunteer at Friends Center, is pictured here with her grand nephew Silas, who attends the school
By making a bequest, my support of Friends Center provides more resources for a brighter future. The staff helped to make this an easy process. They met with my financial advisor and me, listened carefully and answered questions about making a bequest. Now I can enjoy the satisfaction knowing that my gift will strengthen this unique program, and help create a larger city, regional, state — even national — community inspired and strengthened by what becomes possible when equity, diversity, and quality early childhood education is embraced. – Wendy Kravitz
Wendy Kravitz is one of the founders of Friends Center for Children and an Emeritus board member.
The following guidelines govern acceptance of gifts made to Friends Center for Children, Inc. for the benefit of any of its operations, programs or services.
Friends Center for Children encourages all prospective donors to seek the assistance of personal legal and financial advisors in matters relating to their charitable intentions, including the resulting tax and estate planning considerations.
Donors are encouraged to make bequests to Friends Center for Children, Inc. through their estate plans, and to name Friends Center for Children, Inc. as the beneficiary under trusts, life insurance policies, commercial annuities and retirement plans.
Friends Center for Children, Inc. will accept designation as a remainder beneficiary of charitable remainder trusts. With a charitable remainder annuity trust, the donor contributes cash or appreciated securities. They then receive a fixed income based on a percentage of the initial assets used to fund the trust. Friends Center is able to invest the funds, while the donor can avoid capital gains or estate taxes. At the end of the annuity trust’s term, the remaining balance goes to Friends Center. These contracts usually give the donor an income for a term of up to 20 years or for life. Annuity trusts are best for donors who want to make a major gift while still ensuring that their income increases from their assets.
When donors designate Friends Center for Children as an income beneficiary of a charitable lead trust, Friends Center receives a fixed income stream for a specific term length (e.g. the donor’s lifetime). When the term ends, the assets return to the donor or their beneficiaries instead of the nonprofit. Lead trusts are an excellent way for nonprofits to diversify their funding channels and ensure they have a set amount coming in each year. For donors, charitable lead trusts can reduce estate taxes, while still transferring wealth to their heirs.
Donors can name Friends Center for Children as the beneficiary of their life insurance policies or unused retirement assets. These can include individual retirement accounts (IRAs), 401(k)s, 403(b)s, or pensions. Because these gifts may be larger than what a donor could give in their lifetime, they can have a significant impact!
Marketable securities may be transferred electronically to an account maintained at one or more brokerage firms or delivered physically with the transferor’s endorsement or signed stock power (with appropriate signature guarantees) attached. All marketable securities will be sold promptly upon receipt unless otherwise directed by Friends Center for Children’s Finance Committee. In some cases marketable securities may be restricted, for example, by applicable securities laws or the terms of the proposed gift; in such instances the decision whether to accept the restricted securities shall be made by the Finance Committee.
The Finance Committee shall review and determine whether to accept any gifts of tangible personal property in light of the following considerations: does the property further the organization’s mission? Is the property marketable? Are there any unacceptable restrictions imposed on the property? Are there any carrying costs for the property for which the organization may be responsible? Is the title/provenance of the property clear?
All gifts of real estate are subject to review by the Finance Committee. Prior to acceptance of any gift of real estate other than a personal residence, Friends Center for Children shall require an initial environmental review by a qualified environmental firm. In the event that the initial review reveals a potential problem, the organization may retain a qualified environmental firm to conduct an environmental audit. Criteria for acceptance of gifts of real estate include: Is the property useful for the organization’s purposes? Is the property readily marketable? Are there covenants, conditions, restrictions, reservations, easements, encumbrances or other limitations associated with the property? Are there carrying costs (including insurance, property taxes, mortgages, notes, or the like) or maintenance expenses associated with the property? Does the environmental review or audit reflect that the property is damaged or otherwise requires remediation?
Friends Center for Children, Inc. will seek advice of legal counsel in matters relating to acceptance of gifts when appropriate. Review by independent counsel is recommended for all donors considering complex gift mechanisms.
- Gifts of securities that are subject to restrictions or buy-sell agreements.
- Documents naming Friends Center for Children, Inc. as trustee or requiring Friends Center for Children, Inc. to act in any fiduciary capacity.
- Gifts requiring Friends Center for Children, Inc. to assume financial or other obligations.
- Transactions with potential conflicts of interest.
- Gifts of property which may be subject to environmental or other regulatory restrictions.
Friends Center for Children, Inc. will not accept gifts that would result in any unacceptable consequences for Friends Center for Children, Inc.
- that would result in Friends Center for Children, Inc. violating its charter
- that would result in Friends Center for Children, Inc. losing its status as an IRS § 501(c) (3) not-for-profit organization,
- that are too difficult or expensive to administer in relation to their value
- that are for purposes outside Friends Center for Children, Inc.’s mission.
