Performances + Events Benefits of Giving
In addition to supporting the mission of NEC, a planned gift can provide substantial tax advantages, especially on gifts of stocks and real estate. The benefits may include:
- an income tax deduction
- reduced capital gains taxes
- reduced probate costs and estate taxes
- income for life
Simply by taking advantage of incentives the IRS provides, you and your advisor can craft a gift that fits your needs, as well as the needs of NEC. Even with the increased standard deduction in the tax law that became effective in 2018, an immediate income tax charitable deduction resulting from a planned gift may lead to itemizing deductions and greater tax savings. A planned gift makes it possible for you, your loved ones, and NEC to all benefit.
We want to be sure that we can fulfill your wishes. If you have any questions, please contact:
Aaron McGarry
Planned Giving Officer
617-585-1356
aaron.mcgarry@necmusic.edu
New England Conservatory
Additional Giving Options
By making a planned gift, you can strengthen NEC and gain financial and tax benefits for you and your family. For more information, please contact Aaron McGarry, Planned Giving Officer, by email or by phone at 617-585-1356.
Real estate can be contributed as an outright gift or to finance a planned gift. Available options include a retained life estate, which allows the donor to continue to use the property for a certain number of years, or for the donor’s lifetime. Other arrangements offer special tax advantages and lifetime income.
Gifts of real estate include undeveloped land, a residence, a vacation home, a farm, or commercial property. NEC requires the donor to bear certain costs when making a real estate gift, such as an appraisal to determine the fair market value. Also, NEC deducts transaction costs from the proceeds of the sale of the property, including the closing costs, title insurance, a survey (if needed), and any taxes due before the gift is completed.
For any questions about gifts of real estate, please contact Abigail Smitka, Assistant Vice President of Major Gifts and Campaigns, at as3628@necmusic.edu or (617) 585-1719.
Many companies support the philanthropic interests of their employees by matching employee contributions to nonprofit organizations like NEC. If your employer offers a matching gift program, you may be able to double or even triple your gift!
For more information on matching gift contributions, please contact Cheryl Fries, Assistant Director of Advancement Operations, at cheryl.fries@necmusic.edu or (617) 585-1373.
Gifts of personal property, such as musical instruments, recordings, and scores provide valuable support for our music education programs. Through the support of in-kind gifts, you can help NEC meet the college’s ongoing need to expand its inventory — and you qualify for a tax deduction.
NEC accepts in-kind donations on a case-by-case basis. For more information, please contact Patricia Kopko, Director of Advancement Operations, by email or phone at 617-585-1225
Friends of NEC may elect to make gifts to commemorate a loved one’s life, birthday, anniversary, or other special occasion. We will gladly notify those you wish to know of any gifts made in their honor.
Contributions in any amount may be directed to The NEC Fund, or to the area of your choice. Please note the name of the person you wish to commemorate when you make your gift.
Contact Us
To learn more about how you can support NEC, please contact Cheryl Fries, Assistant Director of Advancement Operations, at cheryl.fries@necmusic.edu or (617) 585-1373.
New England Conservatory is a 501(c)3 non-profit organization. All donations are tax deductible to the full extent of the law. Our non-profit tax ID is 23-7225104.
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