What is the Heywood Society?

Joseph Lee Heywood

Carleton recognizes alumni, parents, and friends who have made deferred gifts to benefit the College through membership in the Joseph Lee Heywood Society. Heywood was Carleton’s first (volunteer) treasurer and an officer of the First National Bank of Northfield. He was killed in the notorious Jesse James gang raid of 1876, when he refused to open the bank’s vault to the robbers, thereby saving most of Carleton’s assets, which were held in the bank. Carleton honors Heywood’s uncommon loyalty and devotion to the college through the name of the Heywood Society, which now has more than 2,000 members.

As we enter our 50th Reunion year, Heywood gifts aren’t just for big donors. Gifts of all sizes are encouraged and very welcome. For many of us, a Heywood-eligible gift may be the best way to make a meaningful contribution to our 50th Reunion Class Gift. And, depending on how you do it, making a personal legacy gift for Carleton may have no immediate impact on your income or assets.

How can I join?

There are several simple ways to include Carleton in your plans:

  • Name Carleton as a beneficiary of your retirement plan, or a life insurance policy, Donor Advised Fund or other asset.
    • The gift can be either a percentage or a specific dollar amount, and you retain control and flexibility of the gift amount until your death. You maximize your heirs inheritance by minimizing estate and income taxes owed. Upon your death, the amount you’ve designated for Carleton will be excluded from your estate as a charitable contribution.
  • Name Carleton in your will or trust.
    • The gift can be either a percentage or a specific dollar amount, and you retain control and flexibility of the gift amount until your death. Gifts expressed as a percentage allow you to maintain the same relative gifts to heirs and other charities, regardless of changes in estate value. Upon your death, the amount you have designated for Carleton will be excluded from your estate as a charitable contribution.
  • Set up a Charitable Remainder Trust or a Charitable Gift Annuity with Carleton as the beneficiary.
    • You make an immediate gift of a specific amount to Carleton, and during your lifetime (or the lives of you and your spouse) you receive income. You receive an immediate tax deduction for your charitable gift to Carleton. The College receives the full use of your gift amount upon your death (or the death of you and your spouse).

Whichever method of legacy giving best fits your circumstances, the benefits of such a gift for you are:

  1. The knowledge that your gift will help Carleton and its students after your death.
  2. You can specify how Carleton will use the gift when it passes to the college. You may even consider naming the Class of 1968 Scholarship Fund as eventual designation for your gift.
  3. Membership in the Heywood Society, which entitles you to an invitation to the Society’s annual luncheon during Reunion weekend
  4. The estimated value of your gift will be included in the overall total of our 50th Reunion Class Gift.

For Carleton, the benefits of estate gifts include:

  1. The ability to incorporate the forecasted amount of your gift into its endowment pipeline, which helps with the College’s financial planning
  2. The eventual receipt of a contribution that can be used according to your instructions to help the mission of the college

For more detailed information about legacy gift options, visit the Carleton giving page or contact Carleton’s 50th Reunion staff, at 1-866-208-3889.