Fiske Society
The Fiske Society honors individuals who have included a future gift to the AMS in their will, living trust, life insurance policy, retirement plan, or similar instrument. These instruments are often referred to as revocable deferred gifts. By giving through wills and other planned gifts, you ensure that the AMS will continue to fulfill its mission.
If you have already included the AMS in your will or estate, please notify the AMS (using our online or pdf Fiske Society Notification) so that we have the opportunity to acknowledge your thoughtful planning for the AMS's future. If you are planning to include AMS in your will, please contact the AMS Development Office so that we can assist you.
Fiske Society members are recognized annually in the Notices. If you wish your Fiske Society membership to remain confidential, please tell the AMS and we will honor your request.
Bequests
Bequests are the simplest and most frequent forms of planned gifts
to the AMS. A person can make a larger gift than would have been
possible during his or her lifetime when they make their gift
through their will or living trust. Within the terms of your will
or living trust, you may give the AMS a specific asset (such as
marketable securities), a dollar amount, or a portion of the
residue of your estate after other beneficiaries are provided for.
Another type of bequest is a Testamentary Charitable Trust. This
trust can be created from the estate to provide for family members
or others during their lifetimes, before reverting to the AMS. AMS
will honor your intentions to provide a charitable gift to AMS by
offering recognition during your lifetime for the documented value
of your bequest.
For information about directing a bequest toward a particular
purpose, please contact the Development Office.
Retirement, IRA, and Pension Assets
Many retirees receive significant income from retirement plans
such as 401(k)s, 403(b)s and IRAs. However, many are not aware of
the effect of taxation on their estates. In some cases, retirement
plans may be severely taxed if the residual of the estate passes to
a relative or other individual; in some cases, the taxation is so
severe that the heirs are left with as little as 30% of the plan
assets. Some of this taxation can be avoided by leaving the
retirement plan or a portion thereof to the AMS as a beneficiary;
your estate will receive a charitable deduction for the full value
of the assets left to the AMS. To designate the AMS as a
beneficiary, see your Human Resource Department or your retirement
plan administrator. They will provide you with the proper forms. A
will does not enable you to change retirement plan beneficiaries.
Naming the AMS as a beneficiary of your retirement plan is an easy
way to make a gift, it allows you to reduce estate taxes and it
enables you to reach your philanthropic goals.
Since each person's circumstances in planned giving is different,
we recommend you consult your financial or tax advisor for guidance
and information and then contact the Development Office.
Life Insurance
You can provide a gift of life insurance to fulfill your
charitable goals while you are alive, or through your estate.
As with a retirement plan, you can choose to name the AMS as
beneficiary of a life insurance policy. Upon death of the insured
individual, the AMS will receive the death benefit and apply the
amount to the program you designate.
Another alternative is available when an individual who owns a
life insurance policy no longer needs it. If you no longer require
its protection, you may wish to consider making AMS the beneficiary
or transferring ownership of the policy to the AMS. If you transfer
the ownership of a new or existing insurance policy to AMS, one
benefit may include an immediate income tax deduction roughly equal
to the cash surrender value of the policy on the gift date. Other
benefits are income tax deductions for the continuing premium
payments, potential estate tax savings, and the satisfaction that
comes with making a charitable gift to benefit the future of
mathematics. Contact the Development Office.
Real Property
Many donors decide to donate gifts of property as part of their
charitable goals. Real property or real estate includes personal
residence, vacation home or other real estate. Such gifts may offer
tax incentives to the donor. You typically receive a charitable
deduction for the full fair market value of the property as
determined by a qualified appraisal.
Please consult with your financial advisor and contact the Development Office.
Other Planning Instruments and Devices
There are other types of estate and planning instruments. Please
contact the Development
Office and your financial advisor. The AMS will be happy to
assist you.
