Many alumnae, parents, and faculty have expanded their support of GA through planned gifts—bequests, life insurance policies, real estate, and charitable trusts. In doing so, they are providing for future generations of GA girls and young women, while also realizing certain benefits in their financial and estate planning. The Ruth West Campbell Society was established in 1990 to recognize those individuals who have contributed to Greenwich Academy through a planned gift or have made a charitable provision for GA in their estate plans. In doing so, the donor receives an estate tax charitable deduction for that provision.
Many donors decide to include the Academy in their wills. To make a bequest to Greenwich Academy, contact your attorney (or financial advisor?). A simple provision to remember GA can be added, such as: “I give and bequeath to Greenwich Academy, Inc. ____ percent of my total estate (or $_____, or other property).”
If individual life insurance policies are no longer needed to protect family members or a business, Greenwich Academy may be named as the beneficiary, providing you with estate tax benefits.
Charitable Remainder Trust
Consider a Charitable Remainder Trust in order to make a gift to GA while maintaining the benefits of certain assets. A fixed percentage of the assets placed in the trust is paid annually to you, a family member or other beneficiary. The income can be paid for life or a certain number of years, at the end of which the assets pass to GA. By establishing the trust, you may receive income, gift or estate benefits.
Charitable Lead Trust
Assets placed in a Charitable Lead Trust will benefit GA for a period of years designated by you. At the termination of the trust, the principal is transferred to your children or grandchildren. You obtain an immediate income tax deduction (particularly useful in an unusually high income year) and can effectively pass the property to your children or grandchildren at significant gift or estate tax savings.
By making an outright gift of real estate to Greenwich Academy, you receive a current income tax charitable deduction based on the appraised fair market value of the property and also avoid capital gain tax you might otherwise incur on the sale of the property. If you do not want to part with the property immediately, you may transfer your primary or secondary residence to a trust and reserve the right to live there for the rest of your (and your spouse’s) life, when the property passes to GA. This also creates income and property tax advantages.
Meet Some RWC Society Members
The Doran Family
Type of gift: Bequest
It is no wonder that sisters Susan Doran ’84 and Kathy Doran Gesualdi ’86 felt compelled to join GA's Ruth West Campbell Society, as their mother and fellow alumna Dotsie Edwards Doran ’58 is one of the bequest society’s biggest proponents. Their generational memories and dedication run deep. When the sisters reflect on their time at GA, both recall the athletics program fondly, especially learning to play field hockey and lacrosse from Nancy Wasserman. The traditions and friendships have remained with them, and so Susan and Kathy decided that now was the time to become members of the RWC Society.
Susan shared, “I believe GA has made me the strong independent woman I am today. My mother has always been a very loyal and active supporter. She always encouraged us to participate in giving annually to the school and she is a RWC member. My sister and I were recently putting our wills together so it seemed like the perfect time to make a commitment to support the school. I am very grateful to Greenwich Academy for providing me with the educational and social tools I needed to succeed in life. I am proud to lend my support for future generations through a lasting gift.”
Kathy said, “I feel like GA made a large impact on who I am today. The school grounded me and taught me that if you work hard through life’s challenges, you will see great results. I decided to join the RWC Society when I did, because I wanted to continue to support GA, and am truly interested in the progression of the school. Being a part of RWC Society is meaningful, fulfilling, and a way for me to give back to future students. Making the provision in our estate planning was easy; knowing that this will impact future generations was priceless to me.”
Virginia Pendleton ’34
Type of gift: Real estate
Ginny Pendleton’s association with GA began in 1926 and continued for over seven decades. Hers was a life marked by the monogram qualities instilled in her under Ruth West Campbell’s tutelage, and filled with the values that are at the very heart of GA's mission today—courage, integrity, and compassion. She was always there for GA as a volunteer, alumnae board member, and special friend of the school. When Ginny passed in 2006, she bequeathed the school her Greenwich condominium. Ginny’s apartment has been used by numerous GA faculty members as part of the school’s faculty housing program, and the warm memories of her remain through this special planned gift.
Andra Winokur Newman ’95
Type of gift: Charitable Lead Trust
“My sister and I decided to set up a planned gift based on our unique experience at Greenwich Academy. The school allowed for us to develop and grow as individuals with different interests, and for that we are most appreciative. GA is the cornerstone of our educational experience, and we are happy to give back in a way that declares our appreciation with lasting effects.”