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Barnes Legacy Society

Barnes Legacy Society: Is your name on this list?

View our Barnes Legacy Society members.

The Barnes Legacy Society, established in 1987, honors those who have kindly established a future gift of any kind for Colorado College.

Otis A. and Margaret Tyson BarnesThe Society is named for Chemistry Professor Otis A. Barnes and his wife, Margaret Tyson Barnes '27, in recognition of their generosity to the college through their estate plan. The Barneses were active in many facets of campus life including athletics, the founding of KRCC and, of course, the natural sciences.

In 1952, the Barneses established a trust to provide scholarships for chemistry students at the college. The trust, still in existence today, has provided full scholarships to hundreds of CC students, known as "Barnes Scholars." Their two bequests totaled over $10 million. Margaret and Otis Barnes embodied a lifetime of generosity at CC and in the community.

Membership in Barnes Legacy Society is simple yet so fulfilling!

The only thing you need to do is let us know you have included a gift to CC in your future plans. Your thoughtfulness will ensure that future generations of CC students have access to the finest liberal arts college in the country.

There are many ways for you to do it! Many members have simply mentioned CC in their will...others have named CC as the beneficiary of their IRA or other retirement plan, and some have named the college as the beneficiary of their Donor Advised Fund or their Insurance Policy.

Still others have included CC in charitable remainder trusts, lead trusts, gift annuities or deferred gift annuities.

We invite you to look around this website to peruse the multitude of opportunities, and, of course contact us to chat about what is meaningful to you. We look forward to hearing from you soon.

If you have already included CC in a future gift, we ask that you let us know. We want to thank you today for your thoughtfulness. Additionally, your willingness to be listed as a Barnes Legacy Society member encourages others to follow your example. It also helps CC plan for the future—and most importantly—it allows you to share and document the impact you want to have.

 

Please let us know your future gift intentions.

Need some guidance with language?

 

A charitable bequest is one or two sentences in your will or living trust that leave to Colorado College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I, [name], of [city, state, ZIP], give, devise and bequeath to The Colorado College, City of Colorado Springs, County of El Paso, State of Colorado, [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

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able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to CC or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to CC as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to CC as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and CC where you agree to make a gift to CC and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Deferred Gift Annuity

You can defer your payments until a later date that you specify.

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Flexible Deferred Gift Annuity

You choose a time range in which to begin receiving payments.

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Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

eBrochure Request Form

Please provide the following information to view the brochure.