Planned Giving

Ramapo College Alumna Gifts $40,000 Life Insurance Policy to Benefit College Honors Program

Debra PerryJust like many students, Debra Perry '84 attended Ramapo College as a nontraditional student. As a mother of young children, she returned to school part time to complete her undergraduate degree. She joined a significant population of women at various stages of their lives that were returning to school.

Returning adult students gratefully appreciated the opportunity to learn and their life experiences enriched many Ramapo College classrooms. "We were very welcomed by the traditional students and enjoyed sharing our varied life experiences with each other," Debra says.

Debra fondly remembers many memorable experiences at Ramapo. "Academically, the psychology classes with Professor Carol Campana, and Senior Seminar with Dr. Anthony Padavano were highlights. Also, the honor of being the student speaker at graduation was a very meaningful way to end my undergraduate degree."

Debra believes that there were many people at Ramapo who contributed to her life success. "Professor Lee Sennish encouraged returning women to appreciate our potential and reach challenging goals. For many, including me, it was a paradigm shift - envisioning our future. Without Lorraine Chouinard, Director of the Child Care Center, I would not have been able to finish my degree. She provided my sons with a stimulating and safe preschool environment when I attended classes."

Regarding today's Ramapo students, Debra is very impressed. "They are smart, driven, and have the sense of social responsibility and service that has been the very fabric of Ramapo from the beginning," she says. When asked what advice she would like to pass on to the next generation of Ramapo College students, Debra comments, "I would encourage today's Ramapo students to be active, engaged learners. Be leaders in their class discussions. Seek to incorporate their academic life in their everyday life."

Debra says she decided to make a gift to Ramapo College because "I want to help these talented students achieve their goals. I want to support the ongoing growth and success of Ramapo and its students. I decided on a planned gift because it was an affordable way to reach my financial goal of contributing to Ramapo. A life insurance policy gift provides a personal tax benefit for me and a wonderful gift for Ramapo.

"I would encourage every alumnus to consider giving back to Ramapo in some way, especially a planned gift," Debra shared.

A charitable bequest is one or two sentences in your will or living trust that leave to The Ramapo College Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to The Ramapo College Foundation, a nonprofit corporation currently located at , or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to The Ramapo College Foundation or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to The Ramapo College Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to The Ramapo College Foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and The Ramapo College Foundation where you agree to make a gift to The Ramapo College Foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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