Bequests and other estate (testamentary) gifts by generous alumnae and friends have been an important source of support throughout the College’s history. The continuation and expansion of this tradition of remembrance will contribute to Barnard’s continued excellence.
Donors who will be 60 years of age or older by June 30, 2018, or will be celebrating at least their 40th Reunion, and who formally document their intention to include Barnard as a non-contingent beneficiary of their estate plan (including designations in a will, trust, retirement plan, life insurance policy, or any other vehicle) will receive gift credit at a value based on the guidelines below. In addition, these bequest intentions will be included for purposes of determining 5-year comprehensive Class giving totals. Class participation calculations will continue to be determined based on outright giving only.
Only non-contingent bequests will be counted, including arrangements between two individuals who have “mirrored” estate plans, where Barnard will receive the designated gift upon the death of the survivor of the two. The credited value will be based upon the age of the youngest individual upon whose death Barnard will receive the bequest.
The formula for calculating gift credit for bequest intentions is the age of the individual (as of June 30, 2018) converted to a percentage (e.g., 70 years old = 70%) and applied to the face value of the intended bequest, as shown in the examples below. Where the bequest is expressed as a percentage in the donor’s plans, a good faith estimate of the value of the gift intended for Barnard is requested and will be used in the crediting formula (indicating the percentage figure is not required; the estimated dollar value is all that is needed).
Example A: A donor from the Class of 1963 who will be 76 years old as of June 30, 2018 has provided in her will a $100,000 gift to Barnard and formally documented her intention on August 1, 2015. She will receive campaign gift credit of $76,000 (76% x $100,000 = $76,000) to be included in the overall Class giving (5-year) total in her 55th Reunion year (2017-18).
Example B: A donor from the Class of 1955 who will be 84 years old as of June 30, 2018 has designated Barnard as the beneficiary of a percentage of her IRA; she estimates the value of the percentage gift at $200,000 and she formally documented her intention on May 1, 2015. She will receive campaign gift credit of $168,000 (84% x $200,000) to be included in the overall Class giving (5-year) total in her 65th Reunion year (2019-20).
 For members of eligible classes who celebrated milestone Reunions in 2014 and 2015, before this revised policy statement was in place, all formally documented bequest intentions will be included in the 5-year comprehensive Class giving total in 2018-19 or 2019-20, respectively.
Contact Planned Giving
For more information, including a confidential and personalized illustration, please contact:
Audra M. Lewton
Director of Gift & Estate Planning
New York, NY 10027