Make a Gift
The Gennadius Library of the American School of Classical Studies at Athens depends upon the support of its friends and many organizations. A gift of cash is available immediately for the Library’s use. You may make a gift online by filling out the form on the attached link. Your payment will be processed through PayPal. All major credit cards will be accepted. You may also choose to create a PayPal account, which will allow you to pay by bank transfer and e-check in dollars or other currencies.
The American School of Classical Studies at Athens is a non-profit organization, and contributions are tax-deductible to the extent permissible by law. Payment is made via PayPal, and the School does not retain any credit card information.
When making a large gift, please consider sending a check directly to the addresses below, so that the School can avoid paying transaction fees. Please make a check payable to “The Gennadius Library.” For checks in dollars, please mail to the U.S. office; for checks in euros, please mail to the Athens office.
The American School of Classical Studies at Athens
6-8 Charlton Street
Princeton, NJ 08540
61 Souidias Street
GR-106 76 Athens, Greece
If you have any questions or concerns, please contact the Development Office in the U.S. at 609-683-0800 or in Greece at (+30) 210-72-10-536, ext. 221.
Other Ways to Give
Gifts of Securities
Increasingly, donors are using appreciated securities – including publicly traded and privately held stock and mutual funds – to make gifts. The attraction of this method of giving is that the donor is entitled to take a charitable deduction for the full current value of appreciated securities held longer than one year and is able to avoid paying the capital gains tax that would be due if the donor sold the securities. Please contact the School for wire transfer instructions.
Gifts of Real Estate
Real estate, such as a piece of land, a house or a farm, may be given outright, in which case The American School of Classical Studies at Athens will sell the property and use the proceeds for purposes designated by the donor for the Gennadius Library. Any appreciated value is not usually subject to federal capital gains tax, and a substantial charitable deduction may be claimed. (There could be tax implications for the donor, depending on the length of time the gift is held by the organization.) All gifts of real estate are subject to prior approval and an environmental audit.
It is possible for a donor to give other tangible property, such as collections, books, furniture, artwork and jewelry to the organization. In most cases, the organization will choose to sell the property or item. There are federal income tax guidelines regarding gifts of tangible property (including rules governing the deductible amount if the organization disposes of the property within a certain time period), so it is very important to consult with a tax advisor before choosing to give an object of substantial value to the Gennadius Library of the ASCSA. In-kind services may also be of value to the campaign, and we encourage you to discuss such options with the organization.
A donor leaves a specific amount, a specific percentage of the full estate or the entire estate to the organization. A residuary bequest means that a donor gives the residue of the estate after other specific bequests are made to the organization. A contingent bequest means that the donor makes the gift dependent on certain events.
- Gifts with retained income. The donor uses the value of real estate to fund a trust.
- Gift of partial interest. The donor gives a percentage of interest, and the organization receives a proportionate share of the proceeds when the property is sold.
Language like the following may be used to make a bequest:
“I give to the American School of Classical Studies at Athens for the Gennadius Library the sum of (dollar amount) or ____% of my estate to be used at the discretion of its governing board.”
Gifts of Life Insurance
A donor may name the Gennadius Library of the ASCSA as one of the beneficiaries or the sole beneficiary of a life insurance policy. A donor may also transfer ownership of a policy to the organization. In the case of ownership transfer and/or sole beneficiary status, the policy’s face value is removed from the donor’s taxable estate. Also, future premiums paid on the policy by the donor can be treated as charitable gifts, and if the policy has a cash value, the donor can take an immediate tax deduction.
IRA and Other Retirement Assets
Retirement assets such as a 401(k) may be used to fund a gift. A lifetime gift through an IRA also has positive estate tax consequences.
Additional structured planned giving options follow. These may be discussed with The American School on an individual basis.
Charitable Remainder Trust
The donor may give a specific amount that is placed in a trust managed by a financial institution. The donor gives up control of the funds but retains a life income interest in the funds. When the donor and other beneficiaries die, the remainder of the funds is given to the organization. This trust may take effect while a donor is still living (inter vivos charitable trust) or may be treated by the donor’s will (testamentary charitable trust). The following are the types of charitable remainder trusts:
- Unitrust. Federal law requires that a fixed percentage of the trust’s assets be paid to the donor (or beneficiaries) as income each year. In the case of unitrusts, the percentage is based on the current market value of the assets, so the income can vary.
- Annuity trust. The annual income payment is set as a percentage of the assets when the trust is established, and annual payments never change.