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  • Planned Giving is a Win-Win Situation for You and Elmira College

    Alumna Creates an Endowed Scholarship to Help Students with Financial Need

    “…the moment I arrived, I felt accepted and right at home.”  


    Lynn Takats Leavitt ’68, a retired third grade teacher, recently reminisced about her time at Elmira College.  After having the same worry that all incoming students have  of“wondering why I was there and worrying about how I was going to adapt,” Lynn realized that Elmira College was a ‘good choice’ because it offered a fine liberal arts education, a friendly, close-knit environment with classmates and professors.  “I entered college with self-doubt and confusion and left with confidence, a well-rounded education, many wonderful memories and life-long friends.”


    At first, Lynn thought about a degree in mathematics.  However, after completing her community service requirement “helping two lovely little girls play the piano,” Lynn realized she was meant to be a teacher.  Lynn pursued her education courses with enthusiasm and was accepted for a teaching position immediately upon graduation.  She taught for 30 years in the Washington D.C. area serving a diverse student population.  Highlights of her career have been in helping children and young adults recognize their unique learning styles and assisting them in reaching their full potential.  And they have paid it forward.  Lynn and her class of third graders were featured in a heartwarming story in The Washington Post in July of 2006 after the students pooled their money to donate a gift in her name to a camp for kids with serious illnesses and encouraged other classes to do the same.   


    Lynn’s passion to help young people who are academically prepared but in need of financial support, prompted her to establish the Lynn Takats Leavitt ’68 Endowed Scholarship.  She says, “I decided to make an estate gift to Elmira College because I want to provide an opportunity for others to have the excellent education and the great experiences that I had.  I have taught for many decades and have followed some students through high school.  I know how difficult a time some had with being able to afford to continue their education.  My hopes are that with my gift to the College, the financial burden will be lessened for scholarship recipients, and an opportunity for a quality education will be a reality instead of a dream.”

    Planned Gift Options

    Charitable Gift Annuity
    Life Insurance
    IRA Rollover- until December 31, 2014
    Charitable Trusts
    How to include Elmira College in your estate plan

    With a carefully thought-out, individualized Planned Gift, you can accomplish all these things:

    - Convert a non-income producing asset into cash
    - Increase your income
    - Benefit Elmira College
    - Generate a Charitable Deduction
    - Avoid Capital Gains Tax
    For example...

    - You would like to create a Planned Gift that will benefit you, your spouse, AND Elmira College
    - You would decide to fund the gift with appreciated assets, like stock or real estate
    - The appreciated assets are used to create a Charitable Gift-Annuity
    - By making the gift this way you can take a partial tax deduction equal to a percentage of the fair market value of the gift
    - The asset can then be sold without capital gains tax consequence for you, the donor
    - The Gift Annuity provides a lifetime income option for you, and for your spouse
    - You can avoid potential estate tax
    - After your lifetime the remainder goes to the College

    The Iris Society

    Elmira College honors those who have established planned gifts through their financial planning by inviting each donor to become a member of The Iris Society.  Members receive an iris pin and are recognized each year in The President's Report.

      For Further Information, contact:
      Peggy Arnesen ’63
      Director of Major Gifts
      Elmira College
      One Park Place
      Elmira, NY 14901
      (607) 735-1893