Gift Planning

Phillips Academy offers a full range of charitable gift planning services to alumni, parents, and friends. We are dedicated to exploring gift options that will allow you and your family to address your financial needs and make a difference to present and future Andover students. Let’s talk about gifts that cost you nothing during your lifetime, gifts that pay you an income for the rest of your life, ways to make a gift through your retirement plan or with an asset such as real estate, and help you protect your income and assets. Learn more on this page or start asking us questions—we really love to talk about gifts that impact Andover and work for you.


Consider: A Gift that Everyone Can Afford

Bequests and Retirement Plans
A provision for the Academy in your will allows you to make a contribution without diminishing assets during your lifetime. Since bequests are deductible from your taxable estate, significant estate tax savings are possible. Naming Andover as a beneficiary of a retirement plan also avoids income tax when Andover receives its distribution from the plan. When you make this type of gift, you can indicate that your eventual gift will fund the Academy’s greatest need at the time (unrestricted) or will support a specific purpose such as an endowed fund you have created during your lifetime. 

  • Sample bequest language
  • Talk with us about a Charitable IRA Rollover if you are over 70 ½ years old; you could make a gift to Andover from your IRA and avoid paying federal income tax on the money
  • Use this form when directing your IRA administrator to make a gift to Andover

Consider: A Gift that Pays You an Income

Charitable Gift Annuities and Charitable Remainder Trusts
A gift annuity is a contract between you and Andover. In exchange for a gift of cash or securities, Andover will pay you and/or a loved one a fixed amount annually for the rest of your lives, providing a steady stream of support you cannot outlive. Often, the income you receive through this gift will be higher than the securities or bonds you are holding now. Additionally, a portion of this income is not taxed. You also receive a charitable deduction for part of the gift as calculated by your age and IRS tables.  At the passing of the income beneficiaries, the remainder is directed to Andover for a purpose you may indicate.

There is also the opportunity to create a gift annuity now but to defer the income until a later date, such as when you retire. The deduction is taken when the gift is funded, which is usually during higher-earning years, and thus protects current income. The minimum to create a gift annuity is $10,000. 

A charitable remainder trust is similar to a gift annuity in that it provides an income, but it is one based on the value of the trust and varies each year. If managed well, the trust’s income could grow over the years, providing protection against inflation. A CRT can accept a broader range of assets (cash, marketable securities, real estate), a greater number of income beneficiaries and can run for beneficiaries’ lives or a specified term. Andover can serve as the trustee for the trust or you (you, your bank or your brokerage firm) can serve. You receive a charitable deduction for part of the gift, calculated by the agreed-to pay-out rate and IRS tables, and other tax savings can be realized. At the conclusion of the term, the remainder is paid to Andover to support the purpose you may indicate. The minimum to create a charitable trust which Andover manages is $100,000. 

There is also the opportunity to create a charitable remainder trust which can be invested in the Phillips Academy endowment, managed by the school’s chief investment officer under the guidance of the Andover board of trustees’ Investment Committee. This arrangement allows the individual donor access to the diversity of investment vehicles and oversight typically only available to institutions. This form of trust has a required minimum of $1,000,000. 

  • Run a gift illustration of your own for either one of these gifts—anonymously if you like!
  • Ask us to prepare a life income calculation for you and show the likely income, deduction and savings you would receive.

Consider: A Gift That Protects Your Assets

Charitable Lead Trust
You can support Andover today for a term of years or for the life of an individual by creating a charitable lead trust. Once funded with cash, appreciated securities or even closely-held stock (subject to approval by the Academy), the trust pays income to Andover each year during the term of the trust. At the end of the term, the assets and appreciation will pass to the individuals the donor wishes to benefit with reduced or zero gift and estate taxes. And you will have provided Andover with a significant stream of income to fund current capital projects or other priorities you are interested in supporting.

  • Run a gift illustration of your own for either one of these gifts—anonymously if you like!
  • Ask us to prepare a life income calculation for you and show the likely income, deduction and savings you would receive.

Consider: Other assets and arrangements that can benefit you and Andover

Contact the Office of Gift Planning to talk about gifts of real estate, using life insurance to make a gift, and donor-advised funds as an asset for Andover.

Samuel Phillips & Sarah Abbot Society

Sarah Abbot and Samuel Phillips were among the first to make bequests to what is now Phillips Academy. Since then, countless alumni, faculty, parents, and friends have remembered the Academy in their planning.

We have created the Samuel Phillips & Sarah Abbot Society to recognize the 800+ individuals who have looked to the Academy’s future and invested in it. All are welcome to join, with no gift minimum or proof of bequest intention. Membership in the “Sam & Sarah Society” is open to all friends who have demonstrated their commitment to Andover’s future by establishing life income gifts (charitable remainder trusts, gift annuities or pooled income funds) or by including the Academy in their wills, trusts or as beneficiary of a retirement plan, life insurance policy, or donor advised fund.

Each Reunion Weekend, the Society hosts a breakfast on Sunday morning and invites all Society members to join with Reunion Weekend friends to hear an update from the school on the Academy’s budget and endowment. Past speakers have included Steve Carter, then-Chief Financial Officer, Michael Reist, then-Chief Investment Officer and Andrea Nix, current CFO. 

Contact the Office of Gift Planning for more information about the Sam & Sarah Society.

Crediting Policy 

Opportunity to Count Your Bequest Intention  
Alumni, age 65 and older, may count their bequest intention or revocable trust provision toward their next reunion class goals and be recognized for pledging support to the future needs of the Academy. 

If you provide the school with proper documentation of your estate intention, your revocable commitment will be recognized at its full face value. Your class reunion gift total will include this farsighted gift. Documentation can include the related page from your will or trust or a letter from your attorney or advisor, stating the value or good-faith estimate of the intention.


In your work as a professional advisor, you value professionalism, integrity and honesty, taking the utmost care when serving your clients. As a nonprofit organization, we share your values and take the same care when it comes to helping our donors plan charitable gifts to Phillips Academy. 

Please use these tools as you help your clients with their charitable intentions or as you administer an estate gift, and feel free to contact us for more information or assistance.

  • Legal name: The Trustees of Phillips Academy
  • Federal Tax ID (TIN): 04-2103579
  • Located: Phillips Academy, McKeen Hall, 180 Main Street, Andover, MA 01810
  • Sample Bequest Language
  • Instructions for securities transfers
  • Online gift calculator with a confidential option
  • Request a potential—or even merely hypothetical—gift situation or to request a gift illustration.