The Acorn Society: The Foundation's Legacy Society
Our Acorn Society honors donors who have established planned gifts or provided for the Foundation in their wills. While recognizing our donors’ generosity, we hope their example will inspire others to consider this creative and effective form of philanthropy.
With planned gifts, donors demonstrate their abiding stake in our community. The Acorn Society invites its members to participate in special events throughout the year that offer a deeper look at our region’s challenges and opportunities in the company of fellow donors. These popular events include our annual meeting, donor investment presentation and other events.
We list the names of our Acorn Society members here and in our annual report. However, if a donor prefers anonymity, we are glad to respect this wish.
Become a member simply by notifying us that you have included the Foundation in your estate plan or will. There is no minimum gift level and membership is lifelong, complimentary and nearly 100 strong. We hope you will join us.
Making a planned gift - one that benefits the community after your lifetime - is easier than you might think. Options include:
After providing for your loved ones, leaving a bequest to Greater Worcester Community Foundation can be one of the simplest ways to achieve your charitable goals. A fund created through a Will can benefit particular organization(s); an area of interest, e.g. the arts, environment, education, etc., to meet the changing needs of the community (discretionary), or a scholarship. No matter which option you choose your bequest will generate an estate tax deduction. In consultation with your attorney you may wish to consider which of the following types of charitable bequests would best suit your situation.
Learn more about Gifts by Will.
Your premium payments become tax-deductible when you designate the Foundation as owner and beneficiary of your life insurance policy. After your lifetime, the Foundation uses the money to create a fund in your name that fulfills your charitable goals in perpetuity.
Life insurance policies are an excellent vehicle for charitable gifts, often enabling donors to achieve family and charitable goals simultaneously.
What are my options?
For insurance policies with a cash surrender value whose original purpose no longer exists, you can:
- Gift the policy to Greater Worcester Community Foundation, Inc., and receive an income tax deduction for the present value of the policy. The tax savings can be invested to generate future income and will reduce the value of your taxable estate.
- Make Greater Worcester Community Foundation, Inc., the owner and irrevocable beneficiary; you continue to pay the premiums and claim continuing tax deductions. It is possible to use appreciated stock as a gift to Greater Worcester Community Foundation to cover premium costs and avoid capital gains.
Now it’s easier than ever to make the gift of a lifetime.
IRAs can qualify for tax-free charitable distributions.
Greater Worcester Community Foundation can help turn your individual retirement accounts (IRAs) into tax-saving charitable gifts. Extended tax benefits allow more people to experience the joy of giving during their lifetimes.
You can give more for less.
Thanks to the new legislation, American seniors can make the gift of a lifetime by giving their IRAs to charity without federal tax penalty. So your retirement funds can go further than ever before. For years, estate planners have recommended that retirement assets may be the most tax-effective asset in larger estates to distribute to charity. These assets are not only vulnerable to heavy taxation as part of an estate but also can be taxed again as income in respect to a decedent on the tax returns of heirs.
Until recent legislation, there was a disincentive for retirees to give IRAs to charity during their lifetimes because withdrawals from IRAs were subject to income tax—even those given to charity.
The IRA Rollover allows people age 70 1/2 and older to make direct transfers totaling up to $100,000 per year to qualified charities such as Greater Worcester Community Foundation. Amounts given this way count toward the required IRA minimum withdrawal amounts for the year of the gift.
You can make a difference.
Your community foundation can help you connect to the causes you care about most. You can set up a charitable fund in your name or make an unrestricted gift. Giving is one of life’s pleasures; we can help you enjoy it today. By giving through Greater Worcester Community Foundation, you can use your gift to meet ever-changing community needs—including future needs that often cannot be anticipated at the time your gift is made. Your gift can target the causes and programs you care about most.
Greater Worcester Community Foundation understands our community’s most pressing issues and can help you establish a fund to make an impact in areas of need or opportunity that are important to you. Please contact us at 508-755-0980 if you'd like to discuss your options.
How Do I Do This?
To name Greater Worcester Community Foundation, Inc., as the plan beneficiary, contact the plan administrator of the IRA or tax-deferred retirement account and request a change of beneficiary form. Members of the Foundation staff are available to assist you with this process.
Greater Worcester Community Foundation offers Charitable Gift Annuities. This enables you to make a contribution and receive steady income during your lifetime. State Street Global Advisors administers the Charitable Gift Annuity program on behalf of the Foundation.
Learn more about Charitable Gift Annuity.
Greater Worcester Community Foundation offers a Pooled Income Fund (PIF) to provide donors with lifetime income from a professionally managed, diversified fund. Our PIF is administered by State Street Bank & Trust Co. and is comprised of the commingled gifts of many donors, invested in a balanced equity/bond portfolio.
Learn more about Pooled Income Fund.
A Charitable Remainder Trust provides income to you for life or for a limited number of years. After that time, the remainder is distributed to the Foundation in accordance with your charitable intentions. Contact your legal advisor to discuss.
You may donate a residence, farm or other land as a future gift and continue using the property throughout your lifetime. You receive a partial income tax deduction and reduced estate taxes.
"We want to promote the richness of Black performing arts and to support marginalized individuals striving to achieve their full potential." - Henry Ritter, Acorn Society Member
We thank the following individuals who have joined the Acorn Society and made a legacy plan for our community.
James C. and Colleen S. Abrams
Robert S. Adler
Ann Bergman and Bill Glennon
Edward W. Bettke
Mark P. Bilotta and Henry O. Ritter
Brian L. and Betty G. Bjurling
Maurice J. and Pamela K. Boisvert
Gladys N. Bozenhard
Michael D. and Mary Ann S. Brockelman
James R. and Paula R. Buonomo
Kenneth F. and Nancy Candito
Brian M. and Maureen E. Chandley
Deanna and Richard Charves
Tucker Massey Clark
Elizabeth A. Clifford
James J. Convery and Tracy Craig
Richard P. Coonan
Ken Crater and Peg Ferraro
Dix F. and Sarah Davis
Henry B. and Jane K. Dewey
Ross K. and Lisa F. Dik
Barbara M. Fitts
Mary F. and Warner S. Fletcher
Gerald and Jane Freed
Dina and Gerald L. Gaudette III
Rodney M. Glasgow Jr.
Robert Gordon and Jane Ellen Thompson
Dennis F. and Frances C. Gorman
Martha P. Grace
Suzanne E. Gray and Ernest J. Osterman
David R. Grenon
Claire L. Halvey
Richard E. Hedin
M Howard Jacobson
Kenneth R. Jones
Richard J. Kisten
Lionel M. and Cynthia E. Lamoureux
David P. Leach and Audrey Klein-Leach
Margaret D. Lincoln
Ann T. Lisi
Monica Escobar Lowell
Satya B. and Supriya Mitra
Barbara B. and Raymond E. Morin
Frederic H. and Victoria Mulligan
Karen M. Nunley
Martha R. Pappas
Marlene and David Persky
R. Norman Peters
Marsha R. Platt
Bonnie M. Prescott
Azim Rawji and Robin Van Liew
Mary C. and William J. Ritter
Susan and C. Reid Roberts
Linda Carlson Romano
Scott and Lois Rossiter
Paul R. Rossley
Scott R. Rossley
R. Joseph Salois
Sally S. Schenck
Alison D. and Laurence J. Specter
David C. Steelman and Virginia Theo-Steelman
Kelly A. Stimson
Joseph N. and Charlene M. Stolberg
Kim and Ray Stone
Cynthia P. Strub
William L. and Linda J. Thomasino
Laurie D'Amico Tigan
Sumner B. Tilton Jr.
Cathy E. Wade
Cheryl Wilfong and William G. McKim
Dawn and Robert Wolf
David K. Woodbury
Contact Kelly Stimson
Vice President for Donor Services & Relations
508-755-0980 ext 112
Contact Jacob Vazquez