Supporting Bank Street

Planned Giving—Bequests & Trusts

Donors who have supported Bank Street through bequests, trusts and gift annuities have had tremendous impact on the College’s programs and capacity for leadership. Many endowed scholarship funds have been established by Graduate School alumni through bequests. During the Campaign for Bank Street, trusts helped build the endowment. More recently, a lead trust has provided core funding for the redesign of the Bank Street website, a key strategic priority.

Through careful gift planning, you can accomplish many goals. You can make a more generous gift to Bank Street than you think may be possible while at the same time providing for your own needs and your family’s. A planned gift to Bank Street can help you achieve your charitable goals, offer substantial tax benefits for you, and provide income for you for years or even your lifetime.

Individual Needs and Goals, Individual Attention

Everyone has particular goals, needs and assets so there is no "one size fits all" approach to planned giving at Bank Street. Careful discussions have to involve the donor’s financial advisors as well as key members of the College staff. If you are interested in exploring how a planned gift to Bank Street may meet your goals and needs, please contact John Borden, Vice President for Institutional Advancement, or Linda Reing, Director of Alumni Programs.

Types of Planned Gifts You may want to consider:

  • A bequest—remembering Bank Street in your will or estate plan
  • A charitable gift annuity—a way to receive guaranteed income while achieving tax savings and supporting the College
  • A charitable remainder trust—another way to receive guaranteed income for a term of years or life which offers potential tax savings and other advantages, while ultimately supporting Bank Street
  • A charitable lead trust—a specialized vehicle that may work well for select donors, which provides income to Bank Street for a period of years
  • A gift of life insurance—either by giving a paid-up policy outright or naming Bank Street as beneficiary of a current policy, you can be eligible for tax savings as well as providing support for the future of the College
  • A gift of personal property, such as real estate or art—by making such a gift, you can realize tax savings while allowing the College to use the proceeds of sale to fund its important work
  • A gift of an IRA (individual retirement account) or 401K plan—when the tax burden on your heirs may diminish the value they actually receive, you may want to explore how a charitable gift to Bank Street combined with other estate planning may be to everyone’s advantage

The Lucy Sprague Mitchell Society

As a planned giving donor, you become a member of a special group – The Lucy Sprague Mitchell Society. Bank Street created the society in 2006 to recognize those alumni and friends who had informed us that the College was in an estate plan or will, or a beneficiary of an established charitable trust or gift annuity. Throughout her long career, Bank Street’s founder made many gifts to the College, including a last one as a bequest. It seemed most appropriate that those alumni and friends who share her devotion to sustaining Bank Street for many years to come should be recognized in this singular way.

Two current members of the Lucy Sprague Mitchell Society are examples of the faculty and alumni who have chosen planned gifts as a means to support Bank Street’s future. 

Carol B. Hillman

A generous donor to the Graduate School for many years as well as to the Campaign for Bank Street earlier this decade, Carol has provided for Bank Street in her estate plan. Her teaching career has progressed from classroom teacher to educational consultant to Adjunct Professor to author of three books on early childhood education.