Heritage member Carol Manning established a trust to support conservative ideas through the Heritage Legacy Society.
Like many Heritage members, Carol Manning feels a deep sense of gratitude for what she has achieved in life, and it’s this feeling that inspires people to give something back to the institutions that may have played an important part in their early formation. For Carol, as well as many other Americans, this often takes the form of a planned gift to their beloved alma mater. These are gifts that are not only motivated by gratitude but can also be born out of a deep sense of nostalgia. One of the most common types of life income paying gifts promoted by college and university planned giving departments is the charitable remainder trust, which is precisely the vehicle Carol chose to make her legacy gift.
Aside from the many wonderful income and tax benefits that charitable trusts offer, the main purpose of a charitable trust is to convey a significant “remainder” after a donor’s passing. With this in mind, many thoughtful conservatives have begun to rethink their decision to support an alma mater that does little in support of their conservative values—or worse—is actively involved in advancing a liberal agenda. As in many other areas of American life, college campuses are increasingly subject to liberal sentiments and policies that threaten our founding principles, and conservatives can no longer in good conscience financially support these efforts. This is the dilemma Carol found herself facing as she considered the charitable trust she’d established for her university years earlier. Continue Reading »