Build Your Legacy at Thomas College
Planned Giving at Thomas College
By making a planned gift, you aren’t just donating to a college; you are investing in the leaders, educators, and entrepreneurs of tomorrow. Whether you wish to provide for a student’s scholarship or ensure the long-term strength of our campus through the Thomas Fund, your legacy starts here.
Why Make a Planned Gift to Thomas?
- Maximize Your Gift
Planned giving is often the most effective ways to maximize the impact of your gift to the College. Our Advancement Team can help you understand a variety of financial arrangements that can multiply your gift. When a donor says, “I wish I could do more,” a conversation about a planned gift for the College can often help build that pathway. - Ensure Your Legacy
As you age, it’s natural to wonder how you will be remembered. Often, the questions that arise around your legacy are also questions about your values. At its best, planned giving is a tool to ensure that the values you had in your life will continue to be supported when you’re gone. - Pay It Forward
Many of our alumni identify their time at Thomas College as the foundation of their future success. Through mentoring relationships with faculty, leadership experiences in student activities, and customized career-focused training, Thomas College produces alumni who make a difference for their families and communities. Planned giving is a great way for alumni to give back to the institution to pave the way for future generations.
Ways to Create Your Legacy
A bequest is one of the simplest ways to make a significant impact. You can designate a specific dollar amount, a percentage of your estate, or the remainder of your estate to Thomas College after other obligations are met in your will.
- The Benefit: You retain full control of your assets during your lifetime and can modify your gift at any time if your circumstances change.
- Specific Wording for Your Professional Advisor:
I, [Name], give, devise, and bequeath to Thomas College, a non-profit corporation located in Waterville, Maine, the sum of $_______ [or ____% of my estate] to be used for [Unrestricted or The Thomas Fund / The General Scholarship Fund / Other Specific Program].
You can name Thomas College as a beneficiary of your retirement plan (IRA, 401(k), 403(b)) or life insurance policy.
- The Benefit: These assets often bypass the probate process meaning the beneficiaries are given the funds of the plan before any calculations for the remainder of the estate are made.
- How to do it: Simply request a “Change of Beneficiary” form from your plan administrator and list Thomas College (EIN: 01-0263385) as a partial or sole beneficiary.
If you are age 70½ or older, you can typically transfer up to $105,000 (annual limit varies by inflation and IRS policy, consult your financial advisor for more details) directly from your IRA to Thomas College typically without tax implications for withdrawing.
- The Benefit: If you must take a Required Minimum Distribution (RMD), a QCD will typically satisfy that requirement.
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Phone Numbers
- Admissions (Undergrad): 207-859-1101
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