Over Age 70

For the charitably inclined, certain types of gifts can provide solutions to taxing problems:

Cash, check, or credit card
A gift of cash is easy to do, and the gift is not subject to gift or estate taxation. A contribution that you postmark in December is deductible for that tax year—even if Northfield Mount Hermon School receives it in January—provided the account against which the check was written had sufficient funds to cover it in December.

Charitable gift annuity
Support Northfield Mount Hermon School and receive a fixed income for life. In exchange for your gift, Northfield Mount Hermon School will provide payments for life to you or a beneficiary you designate.

Charitable remainder annuity trust
Provides for payment of a fixed dollar amount—annually or at more frequent intervals—to the designated beneficiary(ies). The amount must equal at least 5 percent of the initial fair-market value of the trust.

Charitable bequest
If you would like to make a substantial gift for Northfield Mount Hermon School but you do not have the current disposable income or assets to do so now, consider a charitable bequest.