Planned Giving

Support the Future of Elgin Academy

We are committed to providing opportunities for members of the Elgin Academy community to become our educational partner in developing the potential of EA students. Your gifts help us further our commitment to outstanding education, allowing our students to acquire the knowledge, skills and attitude necessary to become intellectually engaged and confident about their place in the world.

If you have already made Elgin Academy part of your estate plans, please let us know so we can recognize you as part of the 1839 Society. If you haven't yet made plans to include EA, please consider supporting exceptional education for the next generation of Elgin Academy Students.

1839 Society - Your Legacy, Their Future.

The 1839 Society honors the generosity of alumni, parents, grandparents, faculty, staff, and friends who have named Elgin Academy in their estate plans and for their support of future Elgin Academy students. Create a legacy for yourself and your family at Elgin Academy by joining the 1839 Society by providing for Elgin Academy in your will or trust, or designated EA as the beneficiary of a qualified retirement plan, savings bond, bank account, or life insurance policy.

Planned Giving Options

The following gifts enable you to make significant contribution to Elgin Academy while you reap valuable income, gift, and estate tax benefits. Before making a planned gift, please consult your financial advisor.

  • A bequest in your will of cash, property or estate residue to Elgin Academy costs you nothing today, and gives Elgin Academy the promise of a strong future.
  • A charitable gift annuity or a charitable remainder unitrust. Donate a capital sum to Elgin Academy (or to a trust) and receive regular annual payments back. Benefits include very attractive rates which are locked for life, and excellent potential for tax exemptions.
  • A deferred gift annuity. Receive deductions when you give property or cash to Elgin Academy, and receive income after a specified deferred date. Benefits include tax reductions for you today, and guaranteed income later.
  • Make Elgin Academy your retirement plan beneficiary. This option allows you to leave less-taxed assets to your family, while eliminating income tax on your retirement plan assets.
  • Donate your appreciated securities to Elgin Academy, which in turn sells the securities to use the proceeds. You receive gift credit and an immediate income tax deduction for the fair market value of the securities, and you pay no capital gains tax.
  • A new life insurance policy, or a policy that has been paid for which you no longer need. This option creates a long-term gift to Elgin Academy that won't draw funds from your estate, and may increase your ability to make a significant gift.
  • A charitable lead trust reduces your beneficiaries' taxable income by first donating a portion of the trust's income to Elgin Academy, and then, after a period of time, transferring the remainder to your heirs.
  • Donated real estate avoids capital gains taxes, and offers you an income tax deduction.

We welcome the opportunity to have a confidential conversation with you about planned giving. Please contact Marnie Kut, Director of Development, at 847 695-0309 ext 226 or mkut@elginacademy.org.