Ways to Give
Planning Your Legacy
Do you know that there are creative ways to support All Newton…
and ways in which ANMS, you, and your loved ones all benefit at the same time.
These giving methods are sometimes called Smart Giving, Planned Giving, or Legacy Giving, because with legacy planning, you create win-win solutions for you and the community music school you love.
Discover the opportunities
of planned giving.
Provide financial aid, support faculty concerts, outreach programs and more by making All Newton Music School part of your family. Adding a bequest to your will costs you nothing during your lifetime, is simple to arrange, and may be modified at any time to address you or your family’s changing needs.
Giving through your Will.
How Bequests Work
Include a gift to ANMS in your will or trust.
Make your bequest unrestricted or direct it to a specific purpose (general endowment or a new or existing Named Fund).
Include a specific amount or a percentage of the balance remaining in your estate or trust.
Benefits
Your assets remain in your control during your lifetime.
You may modify your gift to address changing circumstances.
You may direct your gift to a particular purpose (be sure to check with our Advancement office to make sure your gift can be used as intended).
Under current tax law, there is no upper limit on the estate tax deduction for your charitable bequests. (Be sure to consult your tax specialist)
Residual Gift Sample Language
I give, devise, and bequeath to All Newton Music School, Inc. (Tax ID#04-2104782), located in West Newton, MA, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific Named Fund or program).
Name ANMS as a beneficiary of a specific amount from your estate:
I give, devise, and bequeath to All Newton Music School, Inc. (Tax ID#04-2104782), located in West Newton, MA, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific Named Fund or the Endowment).
Contingent Gift
If (insert name) is not living at the time of my death, I give, devise, and bequeath to All Newton Music School, Inc. (Tax ID#04-2104782), located in West Newton, MA, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific Named Fund or the Endowment).
Charitable trusts are a gift plan that allows you to provide income to yourself or others while making a generous gift to the community at All Newton Music School. Charitable Unitrusts and Annunities are two gift options that pay you income.
Giving through your Trust.
Charitable Unitrusts
A charitable remainder unitrust is a gift plan that allows you to provide income to yourself or others while making a generous gift to All Newton Music School.
The income may continue for the lifetimes of the beneficiaries you name, a fixed term of not more than 20 years, or a combination of the two.
Charitable Gift Annuity
A charitable gift annuity is a simple contract between you and All Newton Music School.
In exchange for your irrevocable gift of cash, securities, or other assets, All Newton Music School agrees to pay you, or one or two annuitants you name, a fixed sum each year for life. The payments are guaranteed by the general resources of All Newton.
IRA Giving Incentives
The opportunity to make charitable gifts to support All Newton directly from Individual Retirement Accounts (IRAs) has been made permanent by legislation passed in December 2015. This means you can make annual distributions of up to $100,000 to support our diverse programming, community engagement, and financial assistance program tax free. Donating through an IRA Charitable Rollover is a win-win for and your favorite community music school.
Want to put your IRA to work for ANMS?
You’ve got questions, we’ve got answers.
Q: Who qualifies?
A: Individuals who are age 70.5 or older at the time of the distribution (you must wait until at least 183 days after your 70th birthday to make the transfer.)
Q: How much can I distribute?
A: You may contribute a maximum of $100,000 per year per individual. These qualified charitable distributions count toward your required minimum distribution. Note: Spouses can each transfer this amount from their separate IRAs.
Q: From what accounts can I make distributions?
A: Distributions must come from your IRA(s) directly to charity. Retirement assets in 401(k), 403(b), SEP, or SIMPLE plans etc. do not qualify.
Q: To which charities can I make gifts?
A: Tax exempt organizations like ANMS to which deductible contributions can be made.
Q: How will ANMS treat the gift?
A: You will receive full gift credit for the entire amount given to ANMS.
Q: What are the tax implications for me?
Federal * - You do not recognize the distributions as income, provided they are made directly from your IRA to ANMS. However, since there is no tax on the withdrawal, you are not entitled to a charitable income tax deduction for your gift.
State * - Each state has different laws, so you will need to consult with your own advisors. For example, some states which have a state income tax may treat the distribution as income, with or without an offsetting charitable deduction.
Q: What is the procedure to execute an IRA charitable rollover?
A: You will need to contact your plan administrator for specific details. You should also decide how you would like it to be designated, (where it’s needed most, outreach initiatives, financial assistance programs).
* Your actual benefits may vary depending on the timing of the gift. While we believe the above information to be correct, we do not guarantee its accuracy and recommend that you consult your tax advisor.
Endowed Named Funds
There is a family and a story behind every Named Fund. For decades, many in our community have chosen to support All Newton Music School students over an extended period through the power of Named Fund gifts.
All Newton Music School offers opportunities to contribute to existing Endowment Named Funds, or establish a new Named Fund with a gifts $25,000 or above. Funds may be named for the donor or in memory of a loved one.
The principal of the gift is invested, and a portion of the return is used each year to support programming, outreach, and financial aid.
A powerful giving opportunity at All Newton Music School.
Named Funds Spotlight
Donald Schön Clarinet Quartet Fund
This fund was established in memory of Donald Schön, beloved husband of sculptress Nancy Schön, a longtime friend of All Newton. Thanks to this endowed fund, young students, advanced high school musicians, and adults, have had fantastic experiences playing in clarinet chamber ensembles together.
Instruments for change
The Instruments for Change Fund allows All Newton Music School to recycle instruments in need of repair by accepting non-usable instruments, refurbishing them, and distributing the instruments to All Newton students of need. Loaning instruments to students that cannot afford to rent or purchase their own instruments helps All Newton fulfill our mission of “Music for All”, while changing a student's life with music.
Billy Kroner Ensemble Scholarship
Billy’s son Gene, in his search for a special way to celebrate his father, sought out All Newton Music School as a vehicle for providing financial aid for new musicians. We continue to work with the family to assure that Billy Kroner will be remembered as a man who loved music and the joy music could bring to special moments in one’s life. The Billy Kroner fund has been instrumental in supporting our Band Program.
Funds for Community Outreach
John and Kae Bowes Memorial for Con Brio
Funds for Programming
Cornelia Anderson
Julian D. Anthony Family
Sidney & Arthur Barnes
Richard B. Carter Trust for Special Programming
Mabel T. Eager & Lillian W. West
Edith Lloyd Garrison Memorial
Barbara Goldfinger Fund for Education
Gladys Avery Lebert
Newton Centre Women’s Club
Newtonville Women’s Club
Florence Avery Moore
Gift of John & Frances Morse from the Elizabeth Fry & Dupont Kirven Foundation
Funds for General Operating
Friends of ANMS
Bessie Hartshorne
William Preston Helms
Franklin S. & Mabel A. Hoyt
Irving & Edyth Usen
Andrew Wolf Memorial
Funds for Music Support Services
Instruments for Change
Werner Chasin Music Library
Robert Wernikoff for Piano Maintenance
Currently Endowed Named Funds
Funds for Financial Assistance and Support
William Lester Bates Scholarship
Caroline Hamilton Financial Aid Fund
Armin G. Biller
George F. Brewer
Lillith Nell Brewer
Roberta Brilliant Scholarship for Children
F. Lyman Clark Scholarship
Gretchen Clifford
Frances B. Fernald
Beatrice M. Flaschner
Irene W. Forté Fund with special remembrance of Marion Chidsey
Elizabeth Fyffe Scholarship
Anne Gombosi Scholarship
Ruth Greenwold Scholarship
Robert A. Keller
Cecil & Roslyn Kopperman
Billy Kroner Ensemble Scholarship
Luke/Seaver Scholarship
Signa MacPhail Scholarship
Muse Family Scholarship in Honor of Pat Smith
William McDowell Nizzari
Loomis & Martha Patrick
Emmanuel W. & Nini Perlo
Edward & Ruth Piken Chamber Music Scholarship
Charles Edward & Agnes Winslow Riley Scholarship
Daniel M. Rink Scholarship
Theresa S. Roth Scholarship Fund
Donald Schön, Clarinet Quartet Scholarship
Mary Scipione Scholarship
Joseph Silverstein String Scholarship
Willoughby Family
Josephine Brewer Winter
Mabel B. Worth Scholarship
Lyman Ziegler