Planned Giving
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Giving to EA Is An Investment In The Future Of Our Country
John Hentz '48
John Hentz '48 credits Episcopal with providing him with a solid foundation for life. "Much of what I know about integrity and morality came from examples demonstrated by EA faculty and classmates. I was certainly well prepared for college, but more importantly, prepared for life. All I came in contact with I learned from, although I may not have known it at the time. It gives me great satisfaction to include the Academy in my estate plans because it is an institution that shares my values."
As an expression of his gratitude, John has named Episcopal the beneficiary of his IRA. His decision came about as he explored how to support Episcopal and provide for his family as well. Since the funds within an IRA are allowed to grow free of income tax, they are the least desirable to give to heirs, who may have to pay up to 75% in income and estate tax if they inherit the balance in these accounts. So John changed the beneficiary on his IRA to Episcopal, which, as a charitable organization, can receive the full amount without tax obligation.
For his heirs, John chose assets more advantageous to them. "That is what I call a win-win outcome. With a little forethought we can do both—provide for our families as well as help Episcopal."