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Manhattan School of Music counts on the generosity and foresight
of long-time donors, alumni, friends, and music lovers to help ensure
its future for the next generation of musicians. This can be accomplished
by remembering the School in one’s estate plan. By planning
today for your future, and the future of Manhattan School of Music,
you can create a living legacy that will touch and influence both
music and musicians for generations to come. Individuals who remember
Manhattan School of Music in their estate plan and inform the School
of their charitable intent are included as members of the Galaxy
Society.
When considering a planned gift, one must review his or her own
financial situation in order to determine what is the best means
of remembering the School. Noted below are some options you may
wish to consider which will ultimately benefit Manhattan School
of Music. We strongly recommend that you speak with your financial
and/or legal advisor prior to making any planned gift.
Galaxy Society
Manhattan School of Music has established the Galaxy Society to
recognize those individuals who have shown the foresight to remember
the School in their will or other planned gift vehicle. The name
of the Society comes from the School’s motto, Macte Virtute
Sic Itur Ad Astra, “Those who excel, thus reach the stars.”
We feel that the name Galaxy embodies the goal of the School to
help our students become the very best musicians and people they
can become, and as such reflects the commitment of the Society’s
members. Any individual who makes a planned gift on behalf of Manhattan
School of Music and notifies us of their formal intent will be included
as a member of this distinguished group of supporters.
- Bequest: This is the simplest method of remembering
Manhattan School of Music. This method enables you to leave a
set dollar amount or percentage of your estate to the School through
your will or living trust. The most useful means is to leave an
unrestricted bequest to be used at the discretion of the School.
This will enable Manhattan School of Music to apply your gift
to those areas in which it is most needed.
- Life Insurance: This method is simpler than
many people realize. You may already own a life insurance policy
as a result of your job. If your family does not need the income
that will be generated by the policy upon your death, then consider
naming Manhattan School of Music as the beneficiary of said policy.
As this policy may be paid for by your employer, this method of
donating to Manhattan School of Music costs you nothing and can
make a significant difference to the lives of our students one
day in the future. Or, you may own a policy that you do not need
in order to meet your family’s expenses after you die. Again,
consider naming the School as either the sole or shared beneficiary
of the policy. You may also purchase a new policy and name the
School as a beneficiary of the policy. Please consult with your
advisor to determine if this option provides you with the best
means of remembering Manhattan School of Music while meeting your
needs and those of your family.
- Charitable Remainder Trust: A charitable remainder
trust has you irrevocably place cash or a marketable asset “in
trust” for a charitable organization. During your lifetime,
you receive an annual income from the interest earned on the trust
principal. After you die, the trust dissolves and the remainder
interest in the trust is given to the designated charity. As this
is established during your lifetime as an irrevocable gift to
an approved charity, you receive a present federal income tax
deduction for the calculated remainder value of the trust. There
are two types of charitable remainder trusts. The first, an annuity
trust, pays you a fixed amount each year; the second, a unitrust,
pays you a fixed percentage of the annually valued assets in the
trust. With a unitrust your annual payout may vary from year to
year.
- Musical Instruments: Manhattan School of Music
will accept instruments that may be used by students at the School.
However, we do ask that you confirm with the School prior to the
donation being sent. This is especially true of pianos. For further
information regarding this type of gift, please call the Department
of External Affairs.
For further information about making a planned gift on behalf of
Manhattan School of Music please contact:
Department of External Affairs
120 Claremont Avenue
New York, NY 10027
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