o en tell us how their North Cross experience continues to in uence their decisions, their values, and their successes long a er they’ve le our campus. ey go on to become innovators, community builders, and compassionate leaders who are ready to tackle the complex challenges facing our world.
As you re ect on your own journey, or perhaps that of your child, consider the profound impact North Cross has had in shaping your paths.
to be part of this ongoing legacy. By including North Cross in your planned giving, you’re investing in the future architects of our society. You’re ensuring that generation a er generation will have the opportunity to be immersed in the spirit of curiosity, integrity, and courage.
Your planned gi could be the reason a future leader gets their start at North Cross. It could fund the lab
equipment that sparks a scienti c breakthrough, or the arts program that nurtures the next great American playwright. In essence, your legacy becomes intertwined with the legacies of countless future students.
Please consider giving to the school — helping shape the worldview of countless students and instilling in them the values and skills that carry them through life. By doing so, you’re honoring the past while actively shaping our collective future.
Your or your students North Cross journey doesn’t have to end with graduation. rough planned giving, you can continue to be an integral part of our story. Let your North Cross spirit continue to reverberate, inspiring and empowering the leaders of tomorrow.
Together, we can ensure the North Cross legacy and your legacy continue to shine brightly, illuminating paths for curious minds and courageous hearts for generations to come.
Planned Giving Options
GENEROSITY COMES IN MANY FORMS, and it’s often the best way for you to support important causes that matter the most in your life. When you give to North Cross, you help us make a difference. We understand how satisfying it is to be part of a greater good.
Giving is not one-size-fits all at North Cross. There are a number of affordable and convenient ways for you to make an impact. The most important thing to know is we will work with you to find a charitable plan that lets you provide for your family and support the school.
‘‘“As lifelong residents of Roanoke, Jan and I have seen North Cross become a real community asset. We are glad to support the North Cross Fund, and we have included the Endowment in our estate plans to help ensure that North Cross continues to be a school where every student matters.”
- Rand Garrett ‘65
GIFTS BY WILL AND TRUST: A charitable gift from your estate is a simple yet powerful way to support North Cross School. You retain control of your assets during your lifetime while ensuring a lasting legacy.
BENEFITS INCLUDE: the flexibility to change your mind should your wishes or circumstances change, continued access to your wealth, should you need it, and the peace of mind knowing you’re making a difference
DEFINE YOUR GIFT as a specific amount of money, a particular item or items (e.g., stocks, real estate, art), a percentage of your estate, or a residuary bequest (after other bequests are fulfilled).
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Specifying Your Bequest
You have several options for telling North Cross how we may use your bequest once we receive it. They are:
UNRESTRICTED BEQUEST – This is a gift for the school’s general purposes, allowing North Cross to address its most pressing needs.
RESTRICTED BEQUEST – This is a gift for a specific use, such as a special project or program that is important to you. It is best for you to consult with us before placing restrictions on your bequest to be sure we can carry out your wishes.
ENDOWED BEQUEST – This is a gift where North Cross invests your donation along with the rest of our endowment. We distribute these funds in accordance with our endowment spending policy. This approach assures your gift will continue to benefit us in perpetuity. An endowed bequest can be restricted or unrestricted.
HONORARY BEQUEST – This is a gift made in honor of someone special. Any form of bequest can also be an honorary bequest. We would be pleased to recognize the people you wish to honor with your gift.
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NAMING NCS IN YOUR ASSETS: Designating North Cross School as a beneficiary of your assets is a straight-forward way to make a significant impact. You can specify all or a percentage of the assets you want each beneficiary to receive.
BENEFITS INCLUDE: simplifing the gifting process, and potentially reducing the tax burden on your heirs.
DEFINE YOUR GIFT: Often, it’s as easy as filling out a form. This can be done with:
Retirement account assets (e.g. IRA): Gifting retirement assets is a simple, tax-efficient estate planning strategy. Complete a beneficiary designation form to donate, avoiding will modifications. North Cross will receive 100% of the assets tax-free or percentage of total, while individual beneficiaries face income tax on distributions.
Life insurance policies: Designate the school as a beneficiary on your policy or transfer ownership. Beneficiary designation requires only a form, while ownership
transfer offers immediate and potential future tax deductions. Both methods easily support the school through your life insurance.
Commercial annuity contracts: A commercial annuity will sometimes have a remaining value at the end of the annuitant’s lifetime. You can name North Cross to receive all or part of this amount by designating North Cross as a beneficiary (sole or partial) on the appropriate form from the insurance company. To donate from your bank account after death, instruct your bank to pay North Cross all or part of your remaining checking or savings balance using their beneficiary designation form.
Investment accounts: To donate investments to North Cross upon your death, instruct your investment company to transfer some or all account holdings. Your broker can assist with this process, which may simply involve amending the account name to include North Cross.
Which planned giving approach is best for you?
Here are some of the ways to include North Cross in your philanthropic goals:
Advisory Resources Needed to Establish:
and
~ Charitable tax deduction
~ Immediate transfer
~ Ability to see gift in action
~ Supports the current or future needs of North Cross (as directed)
~ Specific gifts such as:
Cash
~ Revocable
~ Potential charitable tax deduction
~ Assets transfer through probate (will) or outside probate (trust)
~ Access to your wealth while living
~ Supports the future needs of North Cross (as directed)
~ Revocable
~ Potential charitable tax deduction
~ Simplifies gifting process
~ Operates via contract
~ Assets transfer automat ically upon death
~ Access to your wealth while living
~ Supports the future needs of North Cross (as directed)
~ Specific gifts such as:
~ A specific asset (e.g. stocks, real estate, art, etc.) or a percentage of your estate or trust
Which planned giving approach is best for you?
Here are some of the ways to include North Cross in your philanthropic goals:
Advisory Resources needed to Establish: GIFTS via REMAINDER
TRUST GIFTS via CHARITABLE LEAD TRUST
Complex (Consult attorney/financial advisor)
~ Irrevocable
~ Potential charitable tax deduction
~ Operates for a defined term (e.g. life of an individual or a fixed term)
PROPERTIES and BENEFITS
~ North Cross receives a fixed annual payment (annuity trust) or an annual percentage-based variable payment (unitrust) during said term
~ Contingent beneficiaries (e.g. family members) receive the remaining trust assets after said term
~ Subject to very specific IRS regulations and limitations
APPLICABLE ASSETS
Assets such as cash, publicly traded securities, and real estate may be used to fund a Charitable Lead Trust. However, non-cash assets may need to be sold to fund the required annual payments. Sale of said assets may involve tax consequences to the donor since the trust is not tax exempt.
CHARITABLE LEAD TRUST: Make a substantial gift to North Cross School in the form of fixed annual payments and pass assets to your family or other heirs at reduced gift and estate tax cost.
WHEN IT WORKS: Substantial assets are available that are not needed for current financial security. There is an intention to provide for family members or other heirs. Charitable giving can create an immediate impact at North Cross. A gift of $1,000,000 or more may be considered to benefit both North Cross and heirs.
HOW IT WORKS: You transfer cash, securities, or other property to a trust. During its term, the trust pays a fixed amount each year to North Cross. When the trust ends, its remaining principal passes to your family or other heirs you name.
Complex (Consult attorney/financial advisor)
~ Irrevocable
~ Potential charitable tax deduction
~ Operates for a defined term (e.g. life of an individual or up to a 20 year fixed term)
~ Beneficiaries (e.g. family members) receive a fixed annual payment (annuity trust) or an annual percentage-based variable payment (unitrust) during said term
~ North Cross receives the remaining trust assets after said term
~ Subject to very specific IRS regulations and limitations
Assets such as cash, publicly traded securities, real estate, and private business interests may be used to fund a Charitable Remainder Trust. Though non-cash assets may need to be sold to fund the required annual payments, said sales will not incur capital gains taxes since the trust is tax exempt. This makes the donation of highly appreciated low basis assets particularly effective.
CHARITABLE REMAINDER TRUST: Make a substantial gift to North Cross School and receive personal reliable payments with significant tax reductions.
WHEN IT WORKS: Assets can be leveraged to create income-producing vehicles such as a charitable unitrust or annuity trust.
HOW IT WORKS: Make a gift to North Cross School while creating future income through a charitable remainder trust. Assets such as cash, publicly traded securities, real estate, and private business interests may be used to fund a Charitable Remainder Trust. Though non-cash assets may need to be sold to fund the required annual payments, said sales will not incur capital gains taxes since the trust is tax exempt.
in your estate plans, you become a vital partner in shaping the future of education for countless students. Your planned gi transcends mere support—it’s an investment in the lives of future leaders and how they view and interact with the world, fostering critical thinking, integrity, and courageous leadership. It ensures North Cross’s continued excellence and adaptability, enabling us to enhance educational opportunities through student scholarships, attract renowned faculty, and maintain innovative programs like our robotics clubs and the Lower School pollinator garden. Furthermore, your generosity preserves beloved traditions, such as Fat Pencil and Homecoming, while fostering new ones like Senior Legacy and the Take the Hill 5K. Together, we can ensure North Cross continues to inspire generations of intellectually curious learners.
planned giving is a personal decision that requires careful consideration. e North Cross School Advancement O ce is here to assist you every step of the way. We can provide more detailed information about giving options. We are happy to work with you and your nancial advisors to nd the best giving strategy for your situation while ensuring your gi aligns with your personal philanthropic goals.
or to begin a con dential conversation about planned giving, please contact: North Cross Advancement O ce Phone: 540.989.6641 Website: plannedgiving.northcross.org
““Our family has three North Cross alumnae and one 10-year employee. North Cross School has made a positive and heartfelt impact on each of us. That is why we feel so strongly about supporting North Cross School. We believe support comes in the form of staying connected, making annual gifts, and by including North Cross School in our estate plan. Annual giving is an opportunity to make an immediate impact and an unrestricted gift from our estate to the endowment will help contribute to sustaining an amazing educational institution in Roanoke for other families to enjoy.
North Cross School has given each of us wonderful friendships, meaningful educational experiences, and we are better adults for being members of the Raider family. With such gratitude for all we’ve been given and shared, we want to give back and we’ve gladly included North Cross School in our estate planning to enable this special community to thrive.”
- Sallie Whittle Lake ‘76
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North Cross Endowment
Supporting the North Cross Endowment, now or through your estate, helps secure the school’s future and advance its strategic priorities. You may create a new fund or contribute to one of the existing funds below (contact the Advancement Office for details).
Barbara Ann O’Donovan Whitwell Endowment for The North Cross School CrossWalk Program
Class of 1995 Scholarship in Honor of Armistead Lemon
Colleen Carroll Hamlin Memorial CrossWalk Scholarship
Douglas C. Horn Endowment Scholarship
Gates DeHart and Margaret Grayson Endowment Fund
General Endowment
Global Citizens Student Travel Endowment
Gordon C. Willis, Sr. Scholarship Fund
H.G. and Katherine Worthy Faculty Advancement Fund
James R. Muscaro Scholarship
Jeanie McKinley Muscaro Memorial Scholarship Fund
Marcia Sabel Fink Scholarship Fund
Nancy and Richard Cook Endowed Scholarship
North Cross Edgewood Scholarship
North Cross School Honors Scholarship
Parker Family Legacy Endowment for CrossWalk
Parnell Professional Development Endowed Fund
Patrick Carlyle McKinnon and Logan Hayes McKinnon Endowed Scholarship
Riley Hoff CrossWalk Scholarship
Robert Pollock Endowed Scholarship
Roy Spain Scholarship Fund
Sarah Boxley Beck Endowment to Support Lower School Athletics
Smith Toler Fund
Stewart Butler Baucom Endowment Fund
Teter Family Endowed Scholarship
Verdu-Wokutch Family Endowed Scholarship
Disclaimer
Information is accurate as of printing and subject to change. This material is not legal advice nor tax advice; consult your attorney or tax advisor.
