- They allow the donor to make a sizeable gift to the College as part of his or her estate planning. Quite often, but not always, they are part of a bequest.
- Many planned gifts can provide the donor with income during their lifetime, then benefit the College at their death.
- They usually provide tax advantages to the donor.
In addition, planned gifts provide the donor with what a great philanthropist and deeply missed member of the MICA Community, Alonzo G. Decker, Jr., called "the joy of giving" in their lifetime.
Planned gifts have been significant part of MICA's progress over the years. William Henry Rinehart, class of 1852, left a bequest to establish the Rinehart School of Sculpture in 1896. George A. Lucas, whose father was one of MICA's original founders and a trustee, bequeathed a print collection that led to an addition to MICA's endowment of over $8 million in the mid-1990s. Reuben Kramer '34, alumnus and faculty member, bequeathed his studio/home to MICA with an endowment that permits us to use the structure as a visiting faculty residence.
A donor who informs us of his/her planned gift is eligible to become a member of the Mount Royal Society. The Mount Royal Society features a list of all planned gift donors and serves as a testimony to our community of all those who have committed to a gift to MICA in their estate plans.
For more information about how you can establish a planned gift, please contact:
Office Telephone: 410-225-2262