How to Make a Gift to Bard College
Making a charitable contribution to Bard College is easy.
Gifts can be made via check, credit card, wire transfer, securities, or real estate. Contributions to Bard College, a registered 501c3 non-profit organization, are tax-deductible to the fullest extent of the law. Please check with your financial advisor for specific information regarding the deductibility of your gift.
By Credit Card
Bard College accepts VISA, MasterCard, American Express, and Discover Card. To make a contribution by credit card over the telephone, please contact Gift Recorder
at 845-758-7861, or online here.
Checks and other correspondence should be sent to:
Office of Development and Alumni/ae Affairs
Attn: Gift Recorder, PO Box 5000
Annandale-on-Hudson, NY 12504-5000
By Wire Transfer
Bard welcomes donations via wire transfer.
To make a gift via wire transfer, instruct your brokerage or bank office to arrange for the transfer of funds electronically to Bard's account at JP Morgan Chase.
The information is as follows:
JP Morgan Chase Bank, N.A. New York
4227 Albany Post Road
Hyde Park, NY 12538
Beneficiary: Bard College
ABA Routing Number: 021000021
Beneficiary Account Number: 301177039665
International SWIFT Code: CHASUS33
Memo: Please include purpose or program to which you are supporting
To ensure proper crediting of your donation:
You must email, fax to 845-758-4294 or mail a copy of the instructions you send to your broker or bank officer, along with any special instructions regarding the purpose of the gift.
The mailing address is:
Office of Development
PO Box 5000
Annandale-on-Hudson, NY 12504-5000
Thank you for your gift to Bard! If you wish to speak to someone regarding your gift, please call the Gift Recorder at 845-758-7861 or email@example.com
When you donate appreciated stocks to Bard, you avoid the capital gains tax you would have paid if you sold the asset. If you have owned the securities for longer than twelve months, you also receive an income tax charitable deduction for their full fair-market value. These tax savings–both in income and capital gains taxes–make gifts of securities a popular alternative to cash.
If you wish to maintain a particular stock in your portfolio, consider giving Bard the stock and using the cash you would have donated to purchase the same securities in the open market. The newly acquired shares will then carry the current market value as their cost basis, an easy way to reduce future capital gains tax liability.
To make a gift of stock please instruct your broker or bank officer to arrange for the transfer of securities electronically to Bard’s account at UBS Financial Services, Inc.
The information is as follows:
UBS Financial Services, Inc.
DTC number: 0221
Beneficiary: Bard College
Account number: US11008
Memo:Please indicate the purpose or area at Bard to which we should apply your gift i.e. The Bard College Fund, or Bard Fisher Center etc. Pleas include the name of Securities and number of shares.
Please include the name of Securities and number of shares.
In order to ensure proper crediting of your gift:
You must email, fax, or mail a copy of the instructions you send to your broker or bank officer along with any special instructions regarding the purpose of the gift to Bard College. Our broker is unable to provide us with donor information.
Attn: Gift Recorder
Office of Development
PO Box 5000
Annandale-on-Hudson, NY 12504-5000.
Please contact the Gift Recorder at (845) 758-7861 or by email at firstname.lastname@example.org
in the Office of Development if you have any questions.
Do not send Certificates to UBS.
If you hold stock certificates, please send them by mail to Bard College, or deliver by hand, unendorsed, with a cover letter describing the asset(s) being donated and the purpose of the gift to Bard College, Attn: Gift Recorder, PO Box 5000, Annandale-on-Hudson, NY 12504-5000. In a separate envelope, send a signed (exactly as the name appears on the certificate) stock/bond power for each asset to the same address. Do not complete any other section of the stock/bond power.
Donor Advised Fund
What is a donor advised fund?
A donor advised fund (DAF) is a type of giving program that allows you to combine the most favorable tax benefits with the flexibility to support your favorite charities easily. DAFs are an excellent way to simplify your charitable giving and facilitate your philanthropic goals.
How does it work?
- Establish your DAF by making an irrevocable, tax-deductible donation to a public charity that sponsors a DAF program
- Advise the investment allocation of the donated assets (any investment growth is tax-free)
- Recommend grants to qualified public charities of your choice, like Bard College
What are the main advantages of the DAF?
- Simplicity: The DAF sponsor handles all record-keeping, disbursements, and tax receipts.
- Flexibility: Timing of your tax deduction can be separate from your charitable decision making.
- Tax efficiency: Contributions are tax-deductible and any investment growth in the DAF is tax-free. It is also easy to donate long term appreciated securities, eliminating capital gains taxes and allowing you to support multiple charities from one block of stock.
- Family legacy: A DAF is a powerful way to build or continue a tradition of family philanthropy.
- No start-up costs: There is no cost to establish a DAF. However, there are often minimum initial charitable contributions to establish the DAF (typically $5,000 or more).**
- No transaction fees: Once approved, 100% of your recommended grant goes to your qualified public charity of choice.**
- Privacy if desired: Donors may choose to be acknowledged or remain anonymous.
** Sponsoring organizations generally assess an administrative fee on
the assets in a DAF. These fees vary by sponsoring organization.
Planned Giving: Join the John Bard Society
There is no more thoughtful investment in Bard’s future than a planned gift.
The John Bard Society was established to recognize loyal alumni/ae, faculty, staff, and friends who have made provisions for Bard College—planned gifts—in their estate plans. Some include a bequest to Bard in their will, some contribute to Bard’s pooled income fund, and some establish a Charitable Gift Annuity with the College. Planned gifts have far-reaching effects that benefit today’s Bard students as well as those of tomorrow.
Pooled Income Fund
Bard established a Pooled Income Fund to offer alumni/ae and friends another opportunity to contribute a meaningful gift to the College. Many donors contribute to the Pooled Income Fund, and each donor receives a pro rata share of the fund's net payout, all of which must be distributed annually. Donors may continue to contribute to the fund, thereby increasing their share of the net income. Once the gift matures, the assets attributable to the donor are removed from the fund and allocated as designed. A gift to the Pooled Income Fund is irrevocable. Cash or marketable securities may be contributed. Gifts of low-yielding securities or appreciated stock can offer a tax-efficient way to make a meaningful gift. Donors receive a charitable income tax deduction in the year in which they contribute to the fund, and those who donate appreciated stock avoid paying the capital gains tax. Bard requests a minimum donation of $5,000 to join the Pooled Income Fund. You may add to or increase your participation at any time with gifts of $1,000 or more. Bard's Pooled Income Fund is managed by KeyBank. As the principal grows, donors receive larger quarterly checks. The payout varies from quarter to quarter, depending upon the fund's performance.
The Charitable Remainder Annuity Trust is an irrevocable gift that provides a specified fixed annual income for the donor or someone he or she designates, for life or for a specific number of years up to twenty. When you establish this trust, you select an annual payout rate, at a fixed dollar amount, and choose a trustee. At the conclusion of the income payments, the principal is distributed to the College.
Another option that provides Bard's friends with a lifetime income, yet at a variable rate, is the Charitable Remainder Unitrust. This type of trust pays an income based on a percentage of the value of the principal. Upon creating the trust, you designate the percentage and select a trustee. The trustee revalues the principal each year to determine that year's income. You may make additional contributions to the unitrust, and the investment strategy may vary with your changing financial needs. Both the Charitable Remainder Annuity Trust and the Charitable Remainder Unitrust can increase your capacity to give a larger gift to Bard.
A Charitable Lead Trust is an irrevocable trust that designates Bard College as the income beneficiary for a specified number of years or for a period measured by the named person's life. Upon completion of that period, the trust assets may revert to the donor or pass to persons designated to receive them. In establishing a Charitable Lead Trust, you may choose a unitrust, which pays an annual income equal to a percentage of the value of the principal, or an annuity trust, which pays a fixed dollar amount. You select the percentage or the fixed dollar amount when you create the trust. In a low inflation environment, the Charitable Lead Trust may provide additional tax advantages.
Charitable Gift Annuity
The Charitable Gift Annuity, a contract between the donor and Bard College, is an irrevocable arrangement in which the College pays a guaranteed lifetime income to the donor, and, if designated, another annuitant, at a rate based on the age(s) of the annuitant(s). The Charitable Gift Annuity is a way of reducing income taxes since it generates a charitable income tax deduction in the year in which it is created, and a portion of the annual income received by the donor may be tax-free. In addition, assets contributed via the Charitable Gift Annuity usually avoid federal estate taxes. Bard asks for a minimum donation of $10,000 in cash or marketable securities to establish a Charitable Gift Annuity. Individuals receiving payments from the Charitable Gift Annuity must be at least 55 years of age when the payments begin. Those younger than 55 can establish a Deferred Payment Gift Annuity, in which the gift is made and the donor defers receiving income until age 55.
Tax-deferred savings plans such as Individual Retirement Accounts, Keogh Accounts, 401(K) and 401(B) plans, and others were created as savings tools for retirement, not as inheritance plans. When the plan ends (often at the end of the plan participant's life or that of a spouse), the proceeds are potentially subject to several forms of taxation: income tax, estate tax, and generation-skipping tax (if grandchildren are included in the estate settlement). An estate or inheritance tax may also be added, depending on where the participant lives. By naming Bard College as a plan beneficiary, tax-deferred retirement plans pass directly to the College outside of the estate and are not subject to income or estate taxes. This can be accomplished on a Change of Beneficiary form indicating the amount or percentage of assets to be contributed to Bard. The beneficiary can be changed again at any time.
If you own a life insurance policy and no longer require its protection, you may wish to consider transferring ownership of the policy to Bard College. It is also possible to purchase a new policy and transfer ownership to the College. Either gift will generate a charitable income tax deduction roughly equal to the cash surrender value of the policy on the date of the gift. In addition, any premium payments that are made on behalf of Bard College entitle the donor to additional charitable income tax deductions for the amount of the premiums. An alternative is to name Bard College as beneficiary (but not owner) of a new or existing policy. This would allow revocation of the gift should circumstances change. If completed, the eventual gift to the College would qualify as a federal estate tax deduction. The gift of a life insurance policy may allow you to make a larger donation to Bard than otherwise possible.
A bequest, the most common way for donors to provide for the future of Bard College, offers several advantages.
A donor may be able to make a larger gift than otherwise possible, the estate may save on estate taxes, and the arrangement is revocable, allowing for changes as needed. You may designate a bequest for a specific purpose or leave it unrestricted. An unrestricted bequest provides general support for Bard and allows the College to use the gift where it is most needed at the time. You can make a bequest to Bard College by preparing a new will or revising an existing one. You can provide for the College in your will by:
- Making a specific bequest of cash, securities, or other property by designating an exact dollar amount, a particular asset, or a fixed percentage of your estate.
- Making a bequest of all or portions of your residuary estate after it has provided for all other beneficiaries by specific bequests.
- Making Bard a contingent beneficiary of the estate by stipulating that the College will receive all or a portion of the estate if named beneficiaries do not survive you.
- Making the College the remainder beneficiary of a trust established in the will to provide income plans previously described or a marital trust that pays all income to a spouse for life.
Sample language to include in a will or in a codicil to a will:
- For an unrestricted bequest: I give (the sum of ______ dollars) or (all or ______ percent of the residuary of my estate) to Bard College of Annandale-on-Hudson, New York, for its general purposes.
- For a restricted bequest: I give (the sum of _____ dollars) or (all or _____ percent of the residuary of my estate) to Bard College of Annandale-on-Hudson, New York, to be used for the following purpose: (state the purpose).
- For the bequest of residuary estate: I give (whatever remains) or (_____ percent of whatever remains) of my estate to Bard College of Annandale-on-Hudson, New York, after all specific bequests have been made and all expenses of administering my estate have been paid.
These descriptions provide general information only. For specific information on your personal situation, please consult your legal and financial advisors.