Consider Making the Phi Beta Kappa Association of Greater Houston Part of Your Estate Plan
Each year at our scholarship dinner, we remember the caring, dedicated Phi Beta Kappa members who have endowed permanent named scholarships. The students invariably express how much they appreciate the generosity of donors who have made it possible for them receive these prestigious, valuable awards. You can make a lasting difference by endowing a scholarship that will be awarded each year to a promising young student as part of your estate plan.
Including a gift in your will is a simple way to show your commitment to the values of Phi Beta Kappa. Because you will not part with any assets today, you will still have access to any assets you may need, and you can change your mind at any time.
Your Connection to Phi Beta Kappa Can Last Forever
You can continue being a part of the life of the Association by endowing a permanent named scholarship. For a gift of $50,000 or more, you may designate the name of a scholarship that will be awarded to a new outstanding young scholar each year. Funds that are designated for scholarships will be held in a separate account used only for scholarship awards, never for the Association’s overhead or operating expenses. An endowed scholarship is a powerful way to continue to impact young lives indefinitely into the future.
If you do not have an estate plan, we can help. Contact PBK Houston at firstname.lastname@example.org to find out how your named scholarship can become a permanent part of our annual scholarship program.
Plan Ahead to Protect the Value of Your Gift
A charitable gift to the Phi Beta Kappa Alumni Association of Greater Houston can also help you realize valuable tax benefits. For example, gifts of appreciated securities, retirement plan assets, or other property may eliminate certain taxes, allowing you to maximize your gift at the lowest net cost to your estate. Please contact a certified tax professional for advice on the most effective way to structure your estate plan.
|Give $50,000 Cash to PBK Houston||Sell $50,000 in Appreciated Property and Give Cash to PBK Houston||Give $50,000 in Appreciated Property Directly to PBK Houston|
|Fair market value of gift||$50,000 cash||$50,000 cash||$50,000 property|
|Cost basis of property||N/A||$10,000||$10,000|
|Long-term capital gain of property||N/A||$40,000||$40,000|
|Long-term capital gains tax ($40,000 x 15%)||N/A||$6,000 due to IRS||$6,000 eliminated|
|Income tax savings ($50,000 x 28%)||$14,000||$14,000||$14,000|
|Total tax savings (capital gains tax + income tax savings)||$14,000||$8,000||$20,000|
|Net cost of gift (fair market value of gift – total tax savings||$36,000||$42,000||$30,000|
Regardless of how you choose to structure your gift, the satisfaction associated with charitable giving is meaningful and lasting. We would be honored to serve as stewards of your legacy.
Contact PBK Houston at email@example.com to find out how your named scholarship can become a permanent part of our annual scholarship program.