
Planned Giving
Join the Northern Lights Society by making a planned gift to COA
Planned gifts, often referred to as legacy gifts, represent a donor’s intention to contribute a gift to an organization beyond their lifetime. This is often a continuation of the donations an individual or couple has made while living, but on a much larger scale. Unlike an annual gift, a planned gift is scheduled for the future—often as part of financial or estate plans. These gifts include bequests, charitable gift annuities, and gifts of life insurance, to name a few.
All Northern Lights Society members are invited to an annual gathering with the COA president and special guests, and are recognized in the Philanthropy Report and online.
Ways to make a planned gift
Bequests are one of the simplest, most impactful, and most popular ways to make a planned gift. A bequest in your will lets you pass any specified amount to College of the Atlantic, free of estate tax. You can give cash in a dollar amount, a percentage of your estate, or tangible personal property, all with or without restrictions.
For example, if you make annual gifts to COA and would like to continue your support after your lifetime, you can set up an endowment through your will. This ensures your gift continues to help support students, faculty, and the college for generations.
If you’re planning to make COA one of your beneficiaries through a bequest, please let us know. We will ensure your gift can be used as intended, so that you receive the greatest possible satisfaction from your gift.
Bequests can designate a specific dollar amount, a particular asset, or a fixed percentage of your estate to COA: “I give, devise, and bequeath to College of the Atlantic in Bar Harbor, Maine the sum of $$$ (or a description of the specific asset), for the benefit of College of the Atlantic and its general purposes.”
Specific bequests are made when property is bequeathed for a designated purpose—instruments bequeathed for use in music education, for instance: “I give, devise, and bequeath to College of the Atlantic in Bar Harbor, Maine, the sum of $$$ (or a description of a specific asset), to be used for the following purpose (state the purpose).”
If at any time in the judgment of the trustees of College of the Atlantic it is impossible or impractical to carry out exactly the designated purpose, they shall determine an alternative purpose closest to the designated purpose.
Residuary bequests are made when you leave all or part of the residue of your assets after other terms of the will have been satisfied. “All the rest, residue, and remainder of my estate, both real and personal, I give to College of the Atlantic in Bar Harbor, Maine for its general purposes.”
You can name COA as a beneficiary of an insurance policy, retirement fund, or donor-advised fund.
Through annuities and trusts you can receive income for life—while creating a legacy that will help COA and our students for generations to come. This document introduces three life-income gift options and how they can align with your financial planning and philanthropic intentions.
College of the Atlantic recommends that you seek the counsel of an attorney who specializes in estate planning to design a gift that benefits the people and organizations you care about most. The COA Advancement Office can work with your advisors to help you plan for tomorrow and receive maximum benefits today.
For more information, please fill out this form. We can discuss your philanthropic aims, and together we can find the perfect choice for you and your family.
Questions?
Contact Lynn Boulger, Vice President for Institutional Advancement, at lboulger@coa.edu or 207-801-5620 or fill out this form.
