Planned Giving - A Promise for the Future

MMI Preparatory School

✽ Bequests ✽ Gifts of Special Assets ✽ Life Income Gifts

A Promise for our Future.

The importance of planned giving ily I am truly part of an MMI Legacy Fam and proud of it.

MMI in My father, Wilmot Jones, graduated from board of directors 1910 and subsequently served on the Broad. during the administration of Lambert ed a My brother, Wilmot Jones, Jr. ’48, earn scholarship from MMI to Lehigh University. Both my brother and I received fully paid tuition from the Jeddo Highland Coa l Company (as residents of Jeddo) for four years at MMI. I was proud to be the first graduate of MMI to be accepted

by Amherst College, where I Bob Jones ‘48 graduated in 1952. the Wharton After Amherst, I earned my MBA from years with Procter School of Business and then spent 18 United States and & Gamble in operations, both in the er industria l overseas. Subsequently, I worked for oth arily in and consulting firms headquartered prim es and traveled the Midwest and Eastern United Stat out Asia, extensively overseas, primarily through Hong Kong, including South Korea, Japan, Taiwan,

and the Philippines. s, have traveled I continue to enjoy life in the outdoor t up with to many foreign countries, and have kep ear-old can. competitive sports as much as an 81-y ring in the Greater I also have spent much time voluntee

a men’s group, Hartford Community for my church, , loca l musical University of Connecticut, United Way t for Amherst and stage activities, and as a class agen College. want to give It was therefore natural that I would ase goes; something back, as the oft-repeated phr however, in my own way. mot C. & My brother and I established the Wil Fund in honor Marion D. Jones Endowed Scholarship rving students. of our parents for well-qualified and dese the MMI I have had the privilege of serving on as a class agent Honorar y Board, helping to fundraise D. Jones and, fina lly, by establishing the Robert beneficiary Charitable Trust. MMI is an irrevocable funds will be of a major percent of this trust and the transferred to MMI upon my passing. t I left with To sum up, I’d like to share a though e. I feel it a Amherst when asked to do a similar piec I educationa l privilege to have had an excellent MM ing home” experience and I like the feeling of “com through my Trust, when I return. To that, I would add, rewitha l for I’m hopeful that it will provide the whe areas to receive deserving students from underserved for further a top-flight education, preparing them ice to this great persona l educationa l growth and serv ght up. community where I was born and brou Cheers and many more great years.

– Bob Jones ’48

CREATIVE AND FLEXIBLE Planned giving establishes a way for you to provide for family members while supporting MMI as well. Quite often, donors discover they can leave more for their heirs, while also making a larger gift than they thought possible. Many planned gifts can reduce your taxes.

Planned gifts can be designated for MMI’s general fund or for a specific endowment.

Careful financial planning can be beneficial to you and your heirs and allow you to leave an enduring legacy to support MMI for future generations.

MMI would be pleased to work with you and your financial or tax advisor to establish the planned gift(s) that are most appropriate for you to achieve your financial planning goals.

Our communication with you about planned giving is strictly confidential and without obligation to you.

Recognizing planned giving The Timber Society is an organization of individuals committed to the future support of MMI Preparatory School. The name of the society is derived from the wooden supports that were used in the deep mines to support the roof, as well as the earth above it. The “timbers” allowed the miners to move forward in their quest of anthracite coal as they earned a living and fueled the industrial revolution.

The symbol for the Timber Society is the White Oak (Quercus alba), which is native to the eastern United States and was harvested for use as “timbers.” At maturity it can reach 100 feet in height and is a wide-spreading specimen whose leaves turn rich purple and wine in the autumn.

The large tree provides shade and beauty as it grows. The “timbers” permitted the deep mines to be used to extract the anthracite coal from its beds deep below the surface. The “timbers” continued to serve the people above, long after the miners completed their work.

The Timber Society recognizes individuals who have so thoughtfully and generously provided for MMI’s financial future through planned gifts.

Through their foresight, they will continue to support the work being done by MMI well into the future.

BE A PART OF THE MMI LEGACY When you support MMI through planned giving, you are becoming part of a legacy that dates back to the late 1800s.

Eckley B. Coxe, a captain of the coal industry, recognized the need for schooling for students who would otherwise not have such an opportunity. On May 7, 1879, Coxe opened the Industrial School for Miners and Mechanics.

Upon Eckley’s death in 1895, his wife, Sophia, assumed control and expanded the school and course offerings. Sophia became known as the “angel of the anthracite.”

A Promise for our Future.

A Foundation for Success...

What is Planned Giving?

Planned giving is a means by which anyone concerned with the wise use of his or her personal resources makes a considered choice about his or her ultimate disposition.

Planned giving, sometimes referred to as gift planning, is a method of supporting MMI as part of your overall financial and estate planning.

MMI is currently accepting three types of planned gifts: •

Bequests in a Will

•

Gifts of Special Assets

•

Life Income Gifts

Bequests in a Will Planned Gifts Through a Will are perhaps the most common way of making a planned gift. A bequest in a will can take the form of a set amount of money, a percentage of an estate, a specific asset, or the creation of a trust. A bequest allows you to retain your assets and make changes to the beneficiaries of your estate throughout your lifetime.

A bequest to MMI will not be subject to estate tax in your estate.

Gifts of Special Assets Gifts of Life Insurance and Retirement Accounts can be another way to “leverage” your donation to MMI. Naming MMI as the beneficiary of an existing life insurance policy or retirement account or as the owner/ beneficiary of a new life insurance policy can result in tax benefits for you.

Gifts of Real Estate, Securities, or other Appreciated Assets prior to selling them allow you to avoid capital gains taxes. These assets can be gifted during your lifetime, or can be used to fund a Charitable Trust.

EDUCATION DONATIONS

Even in difficult financial times, donations to education still rank very highly among donors.

Education is the second most popular recipient of planned giving donations, second only to religion.

Donations to education rose 5.2% from 2009 to 2010.

Source: Giving USA Foundation

A Promise for our Future L ife Income Gifts Charitable Remainder Trusts provide income for life, an income tax deduction, relief from capital gains taxes (if funded with appreciated property), and a possible reduction in estate taxes.

Charitable Lead Trusts enable you to transfer assets to a trust that pays its income to MMI for a set period of time. At the end of the term, the principal and all capital appreciation returns to you or others whom you name.

Why a Planned Gift?

Planned gifts provide creative and flexible strategies for your estate and charitable planning.

Planned giving establishes a way for you to provide for family members while supporting MMI as well. It often enables a donor to provide more for his or her heirs and to make a larger gift than thought possible. Many planned gifts can reduce your taxes.

Planned gifts can be designated for MMI’s general fund or for a specific endowment.

Careful financial planning can be beneficial to you and your heirs and allow you to leave an enduring legacy to support MMI for future generations.

Types of Planned Gifts include: • • • • • • •

Bequests Life Insurance Retirement Plans Real Estate and Appreciated Property Charitable Remainder Trusts Charitable Lead Trusts Charitable Gift Annuities

SUPPORT LIFELONG LEARNING While at MMI, students begin a lifelong pursuit of education, exploration and curiosity that will fuel them throughout their lives.

Choose to support MMI through planned giving and be sure that you are helping future generations get a head start on life.

A Promise for our Future.

Timber Society Members as of May 2012 Extreme gratitude The individuals honored below recognized the value that planned giving supplied not only to their estates, but also to the generations of MMI students yet unborn.

M rs . L ucet ta S. A lderfer

M r . E dward J. G ower , S r . ’38

At ty. P hilip E. Barringer

D r . Thomas L. H amer ’58

M r . H arold B. B enjamin

M rs . C atherine T. H och

M rs . C ecilia A. B oyle

M r . H ugh E. H ughes

M r . C lete L. B oyle

M r . E ffingham P. H umphrey ’34

M r . L ambert E. B road

M r . Fr ank J enkins ’12

M r . C harles T. B utler

M r . Robert D. J ones ’48

M r . J ohn E. C hurbock ’46

M rs . M ildred K. K ahler

D r . L eo J. C or azza

D r . Robert G. K ettrick ’60

M r . David Roman

At ty. E lliot H. C ostas ’74

M r . K arl E. K linger

M rs . Pauline S cheidy

M r . Eckley B. C oxe , J r .

M r . Robert L. K lotz

M r . E dward M. S harp ’36

M s . E lizabeth A. C oxe

M r . Daniel P. Kostick ’54

M r . G ilbert R. S mith ’22

M rs . S ophia G. C oxe

M rs . J anet Kostick

M rs . J ane E. S mith

M r . J ames D’A ndrea ’39

M r . J ohn L ang ’31

M rs . E lizabeth S mith S chmutzer

C ol . B enjamin Davis ’27

Atty. L eroy M. L enhart ’58

M r . J ames M. Str adnick ’77

M r . Robert A. Davis ’96

M r . J oseph E. L undy

M r . J ames P. Str adnick

M r . G eorge P. Eidam

D r . Robert B. M cL ean ’53

M s . Lottie Turnbace

M rs . H elen L. Eidam

M r . William D. M uir ’43

M r . J oseph A. Turri ’45

M r . J ohn Evans

M r . J ohn N icholson ’35

Atty. R ebecca L ee Warren ’84

At ty. Thomas K. Feissner ’81

M rs . L ucy N orris

M r . J ack W yeth

D r . J ames W. Feussner ’65

Atty. J ames A. O’N eill ’41

M rs . M ary Yankevitch

M r . D onald C. Fisher

M s . M ary Pavlick

At ty. H enry A. G iuliani

M s . Rosemary Rocco To discuss how you can take your place on this list, please contact Director of Advancement Kim McNulty today at 570-636-1108.

Should we have inadvertently missed anyone, we apologize. Please bring any correction or omission to the attention of the Advancement Office.

Again, we thank you for helping MMI Preparatory School in its commitment to excellence in education.

ATHLETICS If you wish to direct your planned giving toward athletics at MMI, you’ll find many great opportunities, from our new softball and baseball fields, to our soccer fields, tennis courts, cross country course, and gymnasium.

We believe that the teamwork and dedication discovered through athletic endeavors play a vital role in shaping future leaders in the community and business.

✂

Estate Plan Intentions (Please note that this document is for informational purposes only and is not legally binding.)

I have named MMI Preparatory School as a beneficiary of a: (check all that apply)

❒ Will ❒ Mutual Fund – Fund/Company Name (optional): ______________________________________ ❒ Retirement Account – Fund/Company Name (optional): _______________________________ ❒ Charitable Trust: __________________________________________________________________ - Revocable - Irrevocable – Name of trustee: _____________________________________________________

❒ Life Insurance Policy: ______________________________________________________________ ❒ Other (please specify): _____________________________________________________________ MMI Preparatory School Tax ID#: 24-0795967 MMI Preparatory School is listed as a: (check one) Please indicate approximate dollar value or percent of estate in which MMI is named or indicate that MMI is to receive the residue or remainder of estate (optional):

❒ Primary Beneficiary ❒ Secondary Beneficiary ❒ Contigent Beneficiary

$_________________________ $_________________________ $_________________________

As a result of notifying MMI Preparatory School of this intended gift, I understand that MMI welcomes me as a member of the Timber Society, MMI’s recognition society for individuals who have named the school in their estate plans.

❒ I wish to become an anonymous member and request that my name not be listed publicly. _______________________________________________ ____________________________________________ PRINTED NAME AND CLASS YEAR (IF APPLICABLE)

SIGNED

____________________________________________________________________________________________ STREET ADDRESS

_______________________________________________ ____________________________________________ CITY, STATE, ZIP

PHONE

_______________________________________________ ____________________________________________ EMAIL

DATE

Please return this form to: Kim McNulty, Director of Advancement, MMI Preparatory School, 154 Centre Street, Freeland, PA 18224. Phone (570) 636-1108. Fax (570) 636-0742. kmcnulty@mmiprep.org

LIBRARY The Joseph A. Turri ’45 Library and Learning Center is a newly built facility attached to Old Main that still offers many naming opportunities, as well as future possibilities.

Please be advised that the information provided in this brochure is not intended as tax or legal advice, but as accurate and authoritative general information on planned giving. MMI strongly urges donors to seek independent professional counsel prior to making a gift. All gifts are subject to review by the Director of Advancement and the Board of Directors prior to final approval. MMI reserves the right to refuse any gift.

A Promise for our Future.

NON-PROFIT ORGANIZATION U.S. POSTAGE

PAID MMI PREPARATORY SCHOOL 154 CENTRE STREET FREELAND, PA 18224

WILKES-BARRE, PA PERMIT#188

A Promise for our Future.

Regardless of age, planned giving should be a part of each person’s life planning. Just ask Atty.

Rebecca L. Warren ’84, seen with her son Grant, 10, at a study room she named to honor her late father, Robert H. Kenvin, inside the new Joseph A. Turri ’45 Library and Learning Center.

“I want to help MMI give the same opportunity that I had to other students,” she said.

“As an attorney, I handled estate planning and saw many people who didn’t want to think about a will or decide where they should leave their money.

That’s the worst approach you can take, because if you pass away without a will, none of your wishes are met,” Warren said.

“Planned giving is something you can set up for the future that doesn’t affect your financial situation now. It’s a win-win arrangement for the donor and the school. You’re never too young to think of preparing a will and planning your estate,” she said.