Planned Giving Program is launched during SAM

Maxine Rosen
ASME Operations

The ASME Foundation began its Planned Giving Program during ASME's Summer Annual Meeting in June. The program starts a new period in the Foundation's tradition of service.

Like other forms of giving, planned gifts allow donors to make a lasting impact on the Foundation's programs. Through Planned Giving, donors are able to receive annual return or tax advantages while putting their resources toward charitable goals.

During SAM, a Planned Giving seminar was hosted by Duane Jordan, an ASME Life Member. Jordan is also a member of the Planned Giving Advisory Committee, which provides volunteer oversight for the program.

Seminar participants included Nancy Fitzroy, vice chair of the Foundation Board of Directors, and trustee Roy Trowbridge. Both recently made planned gifts.

"I made this gift because of my faith in the Foundation and appreciation for what the Society has meant to me and the profession," Trowbridge said. As a board director and trustee, he hopes to inspire others considering more conventional contributions.

Attendees at the seminar discussed the Foundation's various planned giving options and the financial benefits one could expect from different scenarios. Experts explained how the flexible nature of planned gifts allows them to help those needing immediate income as well as those wanting extra income for retirement.

Planned gifts also can be designed to provide income for a spouse, increase tax deductions, get extra use from a life insurance policy, and minimize inheritance taxes.

The group examined a number of the ASME Foundation's giving vehicles, including charitable remainder trusts, charitable lead trusts, wealth replacement trusts, wills and bequests, and charitable gift annuities, which are the most popular method.

To identify the methods that will best suit an individual donor and their charitable aims, staff experts at the ASME Foundation plan to work one-on-one with donors and their financial advisors.

Another valuable tool for those considering planned gifts is the ASME Foundation's new Web site, foundation.asme.org, or http://foundation.asme.org. A section on the Planned Giving program has information about the program, along with answers to many questions about planned giving in general.

While the Planned Giving Program at the ASME Foundation will offer options and services that were not previously available, the Foundation has actually received many planned gifts throughout the years.

ASME Foundation Executive Director David Soukup pointed out that along with the 1996-97 Capital Campaign, which raised nearly $6 million, over the years, the Foundation has also been the beneficiary of 26 planned gifts totaling $3.2 million. These gifts have helped to bolster scholarships, awards, Foundation grants, public policy initiatives and education programs.

The Foundation will hold another planned giving seminar during the ASME Congress at Washington in November. Seminars in other locations will be announced later.

Keep checking the Web site, foundation.asme.org, for more information. Or contact Warren Leonard, director of development, at (212) 591-7846 or by e-mail at leonardw@asme.org.

 

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