Frequently Asked Questions

• I have established a planned gift for Cranbrook. Should I notify you?

  Please do! We would value the opportunity to thank you in person or answer any questions you may have. Knowing of your gift helps Cranbrook plan for the future, meet your priorities and preferences, and confirm your desires for recognition. Please also consider providing us with a confidential copy of the relevant provision of your will, trust, or beneficiary-designation form. Contact Kristin A. Hermann, J.D., CFRE, at 248.645.3272 or khermann@cranbrook.edu.

• What if I change my mind?

  You can make changes at any time as long as your gift is not irrevocable. We kindly ask that you keep Cranbrook informed of any changes you make over time so that we may plan accordingly.

• Can I designate my planned gift for a specific program area or purpose?

  Yes! You may direct your gift to the support of the overall Cranbrook Educational Community or one or more program areas, such as the Academy of Art, Art Museum, Center for Collections & Research, Horizons-Upward Bound, House and Gardens, Institute of Science, or Schools.

  Unrestricted funds provide Cranbrook with the greatest flexibility to address our most pressing needs. However, you may designate your gift for a particular purpose that is most meaningful to you and aligns with our mission and priorities. Please contact Kristin A. Hermann, J.D., CFRE, at 248.645.3272 or khermann@cranbrook.edu to discuss any intended restrictions to be sure we can honor your preferences.

• How can I include Cranbrook in my will or trust?

  We have provided suggested language here.

• How do I donate stock to Cranbrook?

  Cranbrook’s preferred method of receiving stock is for the donor or donor’s broker to use electronic transfer via DTC (Depository Trust Company). Cranbrook’s account is as follows:

  MorganStanley Smith Barney, Troy, MI
  DTC No. 0015
  For benefit of Cranbrook Educational Community
  Account No. 089-111897-0-153
  Contact: 248.740.7100

  Please provide the following information to Cranbrook’s Business Office (248.645.3733 or rstedman@cranbrook.edu) before instituting the transfer:

  • Donor’s name and contact information
  • Stock to be transferred, including symbol and/or CUSIP no. and the number of shares 
  • Date stock is to be transferred and transferring broker 
  • The specific purpose of the gift (e.g., annual fund, scholarship fund, or capital pledge) 

   

  The gift of securities will be valued on the date control of is relinquished in favor of Cranbrook, e.g., the date the securities arrive in Cranbrook’s account via DTC. The value is based on the average of the published high and low for that security in accordance with the IRS Tax Code, FASB, and CASE guidelines.

• How do I arrange a gift from my IRA or retirement plan?

  Contact your IRA or retirement-plan administrator and request a copy of the Change of Beneficiary Form. You can fill this in as you wish and include Cranbrook for a portion or all the remainder of your plan’s assets.

  Legal Name: Cranbrook Educational Community
  Federal Tax ID number: 38-2015048
  Mailing Address: P.O. Box 801, Bloomfield Hills, MI 48303-0801

  In addition, donors who are at least 72 years old may fulfill their required minimum distribution by making a qualified charitable distribution of up to $100,000 from their IRA to Cranbrook. Please check with your financial advisor to see whether this opportunity makes sense for you.

• How can my donor-advised fund support Cranbrook?

  Cranbrook is a tax-exempt organization eligible to receive grants from donor-advised funds. Contact your sponsoring organization to recommend that donations from your account be made to support Cranbrook. If you have recommended a gift from your donor-advised fund to Cranbrook, please let us know so we may acknowledge and thank you for your gift.

  You can also recommend that Cranbrook receive all or a portion of the remainder of your donor-advised fund. If not designated, any remaining assets are typically pooled together and disbursed to charities picked by your sponsoring organization’s advisory panel—which may or may not align with your philanthropic priorities. Naming Cranbrook as a beneficiary ensures that your remaining funds will be distributed per your wishes. Contact your sponsoring organization to confirm that a charitable organization can be named as a beneficiary and then request and submit a beneficiary form.

  Legal Name: Cranbrook Educational Community
  Federal Tax ID number: 38-2015048
  Mailing Address: P.O. Box 801, Bloomfield Hills, MI 48303-0801

• What tax deduction will I receive?

  Cranbrook is a tax-exempt organization recognized under Section 501(c)3 of the Internal Revenue Code. Your tax benefits will depend on several factors: the type of gift, the time at which it is made, whether it is outright or deferred, and whether it includes income payments. Please consult with your attorney or financial advisor.

• How will my gift be recognized?

  The Cranbrook Legacy Society was created to honor donors who have supported Cranbrook through their estate plans. Once you have established a documented planned gift benefiting Cranbrook, you will be invited to join the Legacy Society. As a member, you will be included in special events and receive periodic updates from Cranbrook. You will also receive information on estate planning and tax-law changes that may affect you and your family.

  We recognize that you might wish to keep your bequest intentions confidential. If so, please notify us.