Planned Giving

WHY A PLANNED GIFT?

Through planned giving you can make a significant contribution to the Center without compromising your current financial position. Some planned gifts can provide you with additional income. Many reduce your taxes. The greatest benefit, however, is knowing that you have strengthened the school’s ability to transmit the passion for craftsmanship to future generations.
To discuss a planned gift, we encourage you to contact our Executive Director, Peter Korn, at 207-594-5611 or peter@woodschool.org

PLANNED GIVING OPTIONS

The easiest way to make a planned gift is through a bequest in your will. However, you may also consider a more complex financial instrument that can provide you with additional current income and/or reduce your taxes. Here is a range of planned giving options. We recommend that donors consult with an attorney or financial planner in deciding which type of planned giving option best suits their circumstances.

Bequests
You can leave a specific gift or a portion of your estate to the Center for Furniture Craftsmanship in your will.

Life Insurance
If you no longer have a need for the benefits, you can contribute your life insurance policy simply by naming the Center for Furniture Craftsmanship as its owner, beneficiary, and/or partial beneficiary.

Retirement Plan
By naming the Center as a beneficiary of your retirement plan you may eliminate double taxation, where both income and estate taxes would be levied on retirement plan assets left to your heirs.

Charitable Remainder Trust
With a CRT you can place cash or property in a trust that benefits you and/or another person for life and receive immediate income tax benefits. After the deaths of all beneficiaries, remaining principle is transferred to the Center for Furniture Craftsmanship.

Charitable Lead Trust
Through a CLT you can place cash or property into a trust that benefits the Center for Furniture Craftsmanship for a specific number of years. Once this period ends, the assets held by the trust are transferred to individuals whom you’ve named.

Real Estate and Appreciated Securities
Gifts of real estate or securities that have appreciated in value can provide you with significant tax advantages.

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PLANNED GIVING OUTCOMES

Building on the Center’s record of strong financial stewardship, your planned gift will be managed with competence and respect.

Most donors choose to leave their planned gifts unrestricted, so that future Boards of Directors can deploy them to the school’s greatest advantage at the time they come in. But you also have the option of restricting your gift to a specific purpose that is dear to your heart.

Specific areas you might choose to support through endowment include:

Faculty Development

The Faculty Endowment ensures our ability to attract instructors who are outstanding professional woodworkers and designers from around the globe.

General Scholarships

The Scholarship Endowment gives life-changing educational opportunities to talented individuals who could not otherwise afford tuition for Workshops and Intensives.

Professional-track Scholarships

The Next Generation Scholarship Endowment opens our professional-track courses (the Nine-month Comprehensive, Furniture Intensive, and Turning Intensive) to the most promising candidates, regardless of means.

Teaching the Teachers Scholarships

The Teaching the Teachers Scholarship Endowment provides full-expense scholarships to instructors at schools and nonprofit service organizations that teach vocational woodworking to economically disadvantaged communities.

Fellowships

The Fellowship Endowment provides free bench space in our Fellowship Program to emerging furniture makers, turners, and carvers who seek advanced opportunities for creative and professional growth.

Fellowship Residencies

The Fellowship Residency Endowment enables qualified candidates to participate in our Fellowship program, regardless of means, by covering expenses for lodging, meals, travel, and materials.

Visiting Artists

The Visiting Artists Endowment brings outstanding professional woodworkers on campus to explore fresh directions in their own work while mentoring Fellows and inspiring students.

Facilities

The Maintenance Endowment keeps our campus, buildings, and equipment in topnotch condition by covering capital expenditures for their replacement and repair.

Messler Gallery

The Messler Gallery Endowment builds public awareness of design and craftsmanship in wood by expanding the gallery’s reach to new exhibitors and new audiences.

Chair for Executive Leadership

The Chair for Executive Leadership Endowment ensures the school’s ability to retain Executive Directors who will advance its program excellence and international stature.

THE ACORN SOCIETY

If you inform the Center for Furniture Craftsmanship of your intended planned gift, we will invite you to attend special events and receive recognition as a member of the Acorn Society. (Who, more than a woodworker, appreciates that mighty oaks from little acorns grow?) Acorn Society members receive our newsletter, invitations to all exhibitions and events, plus year-end reports from the Executive Director.

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