Frequently Asked Questions

• How can I include Miss Porter’s School in my will?

  We have provided guidance and suggested language for a bequest here.

• What information should I provide to the school if I have named Miss Porter’s School in my will?

  To be included as a Moonbeams Circle member, you only need to tell us that you have included us in your will. In order for us to document the gift to help in a campaign of any sort, we will need a copy of the page in your will in which the provision is written and our bequest intention form filled out and returned.

• I have established a planned gift for Miss Porter’s School. Should I notify MPS?

  Yes please! We would like to thank you for your generosity, make sure the purpose of your gift is understood by the school, and include you as a member of Moonbeams Circle.

  By notifying the Development Office, you may earn gift credit at Miss Porter’s School and participate in a class Reunion campaign or other campaign. Miss Porter’s School also benefits by learning of assets that may be available to it in the future. Miss Porter’s credits planned gifts made through another service provider in the same way it credits planned gifts administered by the Development Office.

  Should you wish for your gift to be anonymously listed, we are happy to do so. Just notify us.

• What if I change my mind?

  Unless the gift is irrevocable, you can make changes for as long as you like. For example, if you include Miss Porter’s School in your will and wish to change your provision, you may do so at any time. It would be of great help to the school if you would let us know of any changes.

• How do I keep my gift giving simple and maximize my charitable deduction?

  A cash gift is the simplest and most direct way to support Miss Porter's School. It may not provide as many tax benefits as a gift of appreciated securities, but giving cash means not having to disturb a securities portfolio.

• For my class reunion, how is my planned gift credited?

  For a Reunion, any planned gift for those aged 67+ that is documented will receive gift credit and be included in the class’s total effort. For those up to the age of 66, you will boost the number of Moonbeams Circle member that can be counted for your class. All planned gift donors are recognized as members of Moonbeams Circle.

• Can I designate that Miss Porter’s School receive the remaining assets in my donor advised fund after my lifetime?

  Yes. To recommend Miss Porter’s School to receive all or a portion of the remainder of your fund, please contact your sponsoring organization. You may need to provide MPS’s name, address, and federal tax identification number, listed here. Also include DAF instructions link.

• Can I designate my planned gift for a specific purpose?

  You may designate any planned gift for purposes that align with the school’s mission and priorities. Funds without restrictions on their use allow the school to address the areas of greatest need and provide school leadership the greatest flexibility. As with any gift, you should discuss any intended restrictions on the use of your gift with Susan Walker to ensure that the gift can be effectively applied.

• What are tax considerations of giving a gift of highly appreciated property?

  Donating appreciated securities is a good way to make a gift to Miss Porter's School. If you own stock or mutual fund shares that have appreciated in value, you can give these shares to the school and not have to pay any capital-gain tax on your "paper profit." And you can take a federal income-tax charitable deduction for the full appreciated value of the securities, subject to some limitations, if you have held them for more than one year.

  Miss Porter's School prefers to accept gifts of stock that have been electronically transferred into the school's Fidelity account. To ensure that stock gifts are credited to the donor, it is important that you notify school in advance of the transfer.

  Please send us stock details before the transfer.
  Jose Lugo, Manager, Database and Gift Services
  Tel: 860-409-3625
  E-mail: giftadmin@missporters.org

  Alumnae/Development Office
  60 Main Street
  Farmington, CT 06032

  Please transfer the stock to our account at Fidelity.

  Fidelity DTC No. 0226
  Account No. Z49-975249
  Name on the Account: Miss Porter’s School
  Fidelity Phone Number: 800-544-5704

  Miss Porter’s School will credit the gift at the mean value on the day of irrevocable transfer to the school’s account.

  Miss Porter’s School is a 501(c)(3) organization.
  Federal Tax ID #06-0646786
  Accreditation by NEASC

  If a donor is transferring funds from a Fidelity Investments account, they should submit a letter of instruction to Fidelity with a transfer form stating their account from which to take the shares and our account to which the shares should be transferred. They will also need to include the share symbol and the number of shares being transferred.

• I live abroad. How can I transfer funds electronically to Miss Porter’s School?

  INTERNATIONAL INCOMING WIRE INSTRUCTIONS US FUNDS Wire Field Description

  Wire Routing Details

  Beneficiary Bank SWIFT Code: FCBTUS33

  Beneficiary Bank Name
  First Citizens Bank
  Raleigh, NC USA

  Beneficiary Bank ABA/Routing #053100300

  Beneficiary Customer Information
  Miss Porter’s School
  60 Main Street
  Farmington, CT 06032
  953 34 4649

  Remittance Information: Student name

• What means do I choose if I wish to defer my most significant gift until after my lifetime?

  A bequest is the simplest form of estate giving and may take the form of a percentage of the estate, a dollar amount, the residue of an estate, or a specific named asset.

• What means do I choose if I wish to defer my most significant bequest with a highly taxed asset?

  You may want to name Miss Porter's School as the beneficiary of all or a portion of your retirement plan, such as an IRA, 401(k), or Keogh.

  Making Miss Porter's School the residuary beneficiary of these plans at your death is the most tax-efficient way to make a bequest to the school. It will save your estate both the income taxes due on these funds as they flow into the estate and the federal estate taxes.

  Designating Miss Porter's School as the residuary beneficiary does not limit your ability to withdraw and use these retirement funds as you need them during your lifetime.

• How do I make a gift that will not affect my income or assets now?

  A bequest is the simplest form of estate giving and may take the form of a percentage of the estate, a dollar amount, the residue of an estate, or a specific named asset. However, you might also want to consider naming Miss Porter's School as the beneficiary of all or a portion of your retirement plan, such as an IRA, 401 k), or Keogh.

  Making Miss Porter's School the residuary beneficiary of these plans at your death is the most tax-efficient way to make a bequest to the school. It will save your estate both the income taxes due on these funds as they flow into the estate and the federal estate taxes.

  Designating Miss Porter's School as the residuary beneficiary does not limit your ability to withdraw and use these retirement funds as you need them during your lifetime.

• Is there a gift type that will provide an income stream for me?

  Donors may arrange for gifts that will ultimately come to Miss Porter's School while receiving income from the gift for life.

  Such gifts, especially when funded with appreciated assets, offer significant, immediate tax benefits to the donor. An increased income flow can often be achieved as well.

  Life-income gifts, which are irrevocable, are usually made in one of the following forms:

  • Charitable gift annuity
  • Charitable remainder unitrusts 
  • Charitable remainder annuity 
  • Charitable lead trusts
• Is there a way to make a gift to Miss Porter’s School and pass assets to heirs?

  Charitable Lead Trusts

  A lead trust is a charitable arrangement whereby the donor transfers assets to an independent trustee for at least ten years. During this time, the school is named to receive the trust income. Upon termination of the trust, the assets revert to the donor or other designated beneficiaries (such as children or grandchildren). The trust income is not taxable to the donor during the term of the trust. Substantial gift-and estate-tax benefits are available to the donor of this type of trust.

• How do I make a gift and provide income to a loved one?

  Through a gift annuity you may receive fixed payments for life (or designate someone else to receive the payments), save regular income taxes, save capital-gain taxes, and provide a gift to Miss Porter's School.

  Gift annuity payment rates are based on the age of the person who is to receive the annuity at the time the annuity is established.

• How can I avoid estate-tax liability on a highly appreciated home or other property by making a gift?

  A gift to Miss Porter's School of real estate can be very advantageous for both the donor and the school.

  For the donor there is the opportunity to save taxes three ways: through a federal income-tax charitable deduction; by avoiding capital-gain taxes on appreciated property if the property were to be sold; and by removing the property from the donor's estate.

  For the school there may be the opportunity to use the property or to sell it.

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