Why do I need a will?
Without a will, your assets are settled according to state laws, not according to your wishes. You are in control of your possessions when you have a will. You can distribute your possessions to the people and causes that you care for.
I already have a will. Can I still leave a planned gift?
Yes! Your attorney can do a codicil (a written change or amendment to the will).
Are all gifts tax-deductible?
Gifts to The Norwich Free Academy and the Slater Memorial Museum that are made through The Norwich Free Academy Foundation, Inc. are fully tax-deductible to the extent allowed by law. You should consult your tax attorney or financial advisor.
What is the difference between restricted and unrestricted gifts?
The NFA Foundation prefers unrestricted gifts that provide support to the areas of greatest need. Gifts intended to be restricted in nature should be referred to the Development Office. With the exception of those projects being funded through tax-free bonds, unrestricted gifts provide resources for innovative programs, building restoration, information technology and equipment. Restricted gifts are earmarked for specific purposes only.
Why does The Norwich Free Academy Foundation, Inc. handle the gifts for the Slater Memorial Museum?
The Norwich Free Academy Foundation, Inc. was established to encourage philanthropy for NFA and the Slater Memorial Museum. The Foundation is a tax-exempt organization under Section 501c(3) of the Internal Revenue Code. The Foundation raises annual unrestricted funds and secures capital, restricted and planned gifts for the Academy and the Museum.
For further information regarding Planned Giving at The Norwich Free Academy and Slater Memorial Museum, e-mail Deborah Lee, Director of Development.
