Estate Planning

A Legacy for the Future

Planned Giving is an effective way to have an impact on the legacy and mission of Providence Academy. Individuals have many options available to them in making their estate plans such as bequests, life insurance, charitable remainder trusts, charitable gift annuities, stock, or retirement accounts.

The school also highly recommends that you consult your financial advisor while considering your estate plans. For your information, brief descriptions of planned giving vehicles are offered below.

Stock

Providing a gift from stock to Providence Academy may allow you to avoid capital gains tax and support the school at the same time.

To make a donation of stock to Providence Academy, you will need to contact your broker and fill out your broker’s Letter of Authorization.

The form should be submitted to the National Christian Foundation at

transfers@ncfgiving.com, Fax # 888.672.7302.

The donation should be made to The Providence Academy Fund, # 836825.

You will also need the following information:

DTC Clearing 0226,

National Financial Services, LLC

For the account of National Christian Charitable Foundation Inc. Account Number 479-048720

Contact Information:

National Christian Foundation East Tennessee

Office: (855) 523 5610

easttennessee@ncfgiving.com ncfgiving.com/easttennessee

Mark Koscak, Development Director at Providence Academy

(423) 773-1742 or (423) 854-9819

mkoscak@providenceacademy.com

padev@providenceacademy.com

Retirement Accounts

Do you have an IRA, 401(k), life insurance policy, or any other asset not included in your will? If so, these are called non-probate assets and you must plan your beneficiaries for them separately.

You can add Providence Academy when you choose or change your beneficiaries.

Bequest

A bequest is a gift made by including Providence Academy as a recipient in one’s will. The gift can be a particular amount of money; all or a percentage of the estate; or a gift of a specific asset such as a piece of real estate or financial security.

Charitable Remainder Trusts

If you own real estate or securities that have appreciated greatly over the years, a Charitable Remainder Trust may be an option for you.

Using your appreciated property or securities, set up an Irrevocable Remainder Trust with your attorney or financial planner and name Providence Academy as the beneficiary. The Trust, which is not subject to tax, sells property or securities, reinvests the proceeds and makes specified annual payments to you or other designated individuals for a specified period of time. At the end of that period, the remaining funds in the Trust go to Providence Academy.

Charitable Gift Annuities

If you are 65 or older, a charitable gift annuity (CGA) is a way to receive reliable income and support Providence Academy's mission. Upon establishment of the annuity, an individual can receive fixed payments for the rest of his or her life. Upon death, the remaining portion of the annuity will be released to Providence Academy. A CGA may have a number of tax advantages as well.