Planned Giving
We can assist you with a number of gift-giving tools designed to meet your family's financial and philanthropic goals. A cash, check or stock gift is always welcomed, but some gifts call for other, more strategic planning tools.
Trusts
Trusts allows you to make a substantial capital gift to the School of Industrial and labor Relations, while retaining income for your lifetime and/or that of additional beneficiaries. Trusts include Gift Annuities, Pooled Life Income Funds, and Charitable Remainder Trusts.
Charitable Gift Annuities (Immediate or Deferred)
In exchange for your gift of $10,000 or more to ILR, the University will pay a specified annuity to you and, if you wish, another beneficiary for life. Anyone age 50 or older can take advantage of a charitable gift annuity. The current payout rate is 5.8% and up depending upon age.
Pooled Life Income Agreements (High Yield or Balanced)
For $10,000 or more you can establish a Pooled Life Income Fund. Gifts from you and other donors are invested in a common fund, similar to a mutual fund, managed by Cornell's investment office. You receive income earned by the fund in proportion to the number of shares you have in the fund. The High Yield Fund seeks to provide consistently high income with the preservation of principal. The Balanced Fund benefits donors interested in growth of income over the long term.
Charitable Remainder Trusts
A minimum gift of $50,000 establishes a charitable trust, the income from which is paid to you and/or other beneficiaries for life or a term of years. Trust payout rates range from 5% to 7%. These planned giving arrangements can be tailored to suit your needs. Please call if you'd like more information about the benefits of these agreements.
For more information, the University's Office of Gift Planning encourages you to check out their website.
Bequests
A bequest is accomplished by making a provision for the School of Industrial and Labor Relations in your will, which permits the maximum use of your funds today while providing for ILR tomorrow. The amount of the bequest is deductible from the taxable portion of your estate.
Bequests—As Easy As 1, 2, 3
Provide for the School of Industrial and Labor Relations by making a new will, modifying your existing will (by adding a codicil). or by including the School in your revocable trust. For example,
- An unrestricted bequest for general purposes
"I hereby give, devise, and bequeath to Cornell University, an educational corporation in Ithaca, NY for the School of Industrial and Labor Relations at Cornell University for its general purposes {_____ dollars} {_____ percent} {all of the rest, residue, and remainder of my estate}." - A bequest for endowment
"I hereby give, devise, and bequeath to Cornell University, an educational corporation in Ithaca, NY, {money or property to be bequeathed} to establish an endowment fund to be known as the {_____ Fund}, the income from which shall be for the {unrestricted use or named purpose} of the School of Industrial and Labor Relations."
For more information, the University's Office of Gift Planning encourages you to check out their website.
Contact: Christopher Crooker, Executive Director ILR Alumni Affairs and Development, cec23@cornell.edu, (607) 255-5827
