Isidore Newman School | Planned Giving

The Charles Keller III Society

The Charles Keller III Society is named in honor of Charles Keller III ’53, who made the largest planned gift to Newman. This recognition society honors alumni, parents, grandparents, former parents and friends of Newman who have expressed their commitment to the mission of the School by naming the School as a beneficiary of a planned gift. Gifts to the Charles Keller III Society ensure that future generations will benefit from the Newman educational experience. Donors will also be able to continue their legacy of giving.

Making a charitable bequest may allow you to support Newman more significantly than you could during your lifetime. By making a gift in your will, either with a specific dollar amount, a percentage of your estate, or specific assets, you can shape the future of Newman by passing on a legacy to future generations. Moreover, your gift to Newman is free of federal estate tax, as well as inheritance tax in most states.

Other planned gifts may offer both immediate and future tax advantages while supporting Newman. There are several ways to structure a charitable trust which will provide income to you or your designee for life, or which will provide income to the School while you retain ownership. You may choose to name Newman as the beneficiary of an Individual Retirement Plan, and the funds will usually pass to Newman outside of probate and free of all taxes. A gift of life insurance affords you the opportunity to leverage premium payments into a substantial gift to the School. If you have already provided for Newman in your will or estate plans and would like to be recognized as a member of the Charles Keller III Society, or should you wish to be an unpublished or anonymous member, or if you are interested in learning more about these options, please contact Mary Peters, Director of Advancement, at 504.896.6425 or MaryPeters@newmanschool.org for more information.

Making IRA Contributions

You may contribute funds this way if:

You are age 70½ or older at the time of the gift.
You made a qualified charitable distribution of any amount up to $100,000 in 2012 or make a qualified charitable distribution before Feb. 1, 2013, which may count retroactively for 2012.
You make a qualified charitable distribution of any amount up to $100,000 on or before Dec. 31, 2013, to qualify for 2013.
You transfer funds directly from an IRA.1
You transfer the gifts outright to one or more qualified charities, but not to supporting organizations, or for gift annuities, charitable trusts, donor advised funds or any gift from which you receive a personal benefit.

It is wise to consult with your tax professionals if you are contemplating a charitable gift under the extended law. Please feel free to contact Jenny Aschaffenburg Williamson, Major Gifts Officer, at 504-896-6368 or jennywilliamson@newmanschool.org with any questions you may have.

1 Because this legislation was enacted in January 2013, a special transition rule allows individuals who took a distribution from their IRA in December 2012 to make a gift to a qualified charitable organization prior to Feb. 1, 2013, and treat that as a direct transfer.

The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.

Common Questions

List of 9 frequently asked questions.

I've already named your organization as the beneficiary of my IRA. What are the benefits if I make a gift now instead of after my lifetime?

By making a gift this year of up to $100,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have already made by transferring that amount from your IRA under this legislation as long as it is $100,000 or less for the year.
I'm turning age 70½ in a few months. Can I make this gift now?

No. The legislation requires you to reach age 70½ by the date you make the gift.
I have several retirement accounts—some are pensions and some are IRAs. Does it matter which retirement account I use?

Yes. Under the legislation, gifts can be made from IRAs. Pension, profit sharing, 401(k), 403(b) and other forms of retirement funds do not fall under this tax legislation.
Can my gift be used as my minimum required distribution under the law?

Yes, absolutely. If you have not yet taken your required minimum distribution, the charitable IRA rollover gift can satisfy all or part of that requirement. Contact your IRA custodian to complete the gift.
Do I need to give my entire IRA to be eligible for the tax benefits?

No. You can give any amount under this provision, as long as it is $100,000 or less this year. If your IRA is valued at more than $100,000, you can transfer a portion of it to fund a charitable gift.
I have two charities I want to support. Can I give $100,000 from my IRA to each?

No. Under the law, you can give a maximum of $100,000. For example, you can give each organization $50,000 this year or any other combination that totals $100,000 or less. Any amount of more than $100,000 in one year must be reported as taxable income.
My spouse and I would like to give more than $100,000. How can we do that?

If you have a spouse (as defined by the IRS) who is 70½ or older and has an IRA, he or she can also give up to $100,000 from his or her IRA.
I am 73 years old and made a gift of less than $100,000 directly from my IRA to a qualified organization in 2012. Am I eligible to receive the tax benefits?

Yes. Even though the IRA charitable rollover legislation expired on Dec. 31, 2011, the American Taxpayer Relief Act of 2012 permits qualified distributions from an IRA made anytime in 2012 through Jan. 31, 2013, to count in the 2012 calendar year for tax purposes. Contact your professional tax advisor to make sure your contribution counts for 2012.
I took a distribution from my IRA on Dec. 15, 2012, and would like to make a contribution to a qualified charitable organization. Am I eligible to receive the tax benefits?

Yes. A taxpayer who took a distribution from the IRA in December 2012 may make a contribution before Feb. 1, 2013, and treat this as a direct transfer. Contact your professional tax advisor to make sure your contribution counts for 2012.

Michelle and Lamar Villere, Parents of Cora ’23, George ’25, Molly ’27, and Mathilde ’30

“We moved back to New Orleans a few years ago, and chose to send our children to Newman because of the strong academics and friendly feel around campus. The teachers, administrators, and staff gave our family a warm welcome and lots of support. We are proud to invest in and be a part of the Newman community.”
Charlene and Wade Walk, Parents of Eugenia ’14 and Marguerite ’17

“We proudly support Newman because we are grateful for the outstanding education that our children receive. Our girls have flourished under the guidance and support of their extremely dedicated teachers. It has been a joy to watch them form relationships that will last a lifetime.”
Dale M. Smith, Head of School

“Because tuition covers only approximately 80 percent of our operating costs, we rely heavily on philanthropic giving and we are grateful for the financial support and generosity of the Newman community.”
Chandra Bailey and Herb Tyler, Parents of Jay Tyler ’15

“From the moment we stepped foot on Newman’s campus, we knew it was the best place for our son and our family across all arenas – academics, athletics, and community. Newman was a natural fit and we are proud of our son for thriving in the supportive environment at Newman.”
Dave Prescott, Librarian and Theodore Cotonio III Chair in Humanities

“It is a privilege to be a member of the Newman community and I happily support the school annually. I have benefitted from the opportunity at Newman for professional and personal growth. Indeed the school itself, a vital New Orleans institution, is an expression of the thoughtful generosity of Mr. Isidore Newman. ”
Calvert Thomas ’01

"I continue to actively support Newman because it provided me with such a strong foundation early in my life through unparalleled access to a top-tier education, unique resources, outstanding athletic programs, and invaluable friendships. I would put the Newman experience up against that of any of my peers and feel confident that it afforded me with a tremendous advantage."
Semmes Walmsley ’02

“By placing great emphasis on achievement through effort, Newman pushed us all to think harder, dream bigger, and strive for excellence. Ingraining this mantra in the student body continues to yield ambitious and productive citizens. Greenies throughout the world are making a difference. That's why I give to Newman.”
Pete and Stephanie November, Parents of Anna ’18 and Charlie ’20

“The Newman family welcomed us and our children when we joined the community. Through its diverse offerings, Newman has allowed both of our children to explore and develop and their own unique interests. We give to Newman so that other new families moving to New Orleans can find a place where their children can feel part of a school family and have the opportunity to comfortably develop their own unique talents.”
Dr. Lois Mailander and Dr. John Cole, Parents of Gordon ’12 and Emma ’16

“The day our son received his acceptance letter to Newman kindergarten is still vivid. He beamed with pride when he said, ‘Mom, I have been accepted to Newman!’ Newman has recognized our children’s talents and customized academic experiences to meet their needs. That is Newman – recognizing, nurturing, encouraging, and motivating the gift of education across the board OR embracing the gift of a lifelong desire for learning.”
Mother of a Named Scholar

“My child is thriving in the environment at Newman and, as a mother, nothing is greater than seeing the light come back in your child’s eyes when faced with new challenges and expectations!”
Lucy Lapeyre ’14

“When I think of what makes Newman NEWMAN, it’s the people. Every individual in our community plays a role in ‘writing the Newman story.’ My days at Newman have been everything I expected and more. The relationships I have made will last a lifetime – with students and adults alike.”
Derek S. Lam ’97

“I donate because my Newman education helped me understand and appreciate the intersection of technology and the law through Newman’s exceptional technology and forensics program—which is also where my legal practice is focused today.
Dale M. Smith, Head of School

“Each year I am humbled by the astonishing generosity of so many members of our school community. Philanthropy is critical in supporting our students and securing a stable and vibrant future for Newman.”
Mike Jackman, 8th Grade Math Teacher

“Through over 30 years of teaching at Newman, I have consistently been impressed with our students’ genuine love of learning and their commitment to success. Their sense of purpose inspires my teaching every day.”
Jonny Lake ’69, Alumni Board President 2013-14, Parent of Alumni, and Grandparent

“We all strive to build relationships and skills that enhance our quality of life. The Newman experience is invaluable – classmates become lifelong friends, faculty grow into mentors, and education develops into growth experiences. Those things continue to amaze me as I age. Very rarely does a month pass by that I am not reminded in some way of my wonderful past and current connections to Isidore Newman School.”