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 has invested in this secure stock donation tool to make it easier than ever to donate stock and other securities.

  Please note: When you donate stock, please use the link above so we can track your gift and send you the correct receipt to ensure you get the tax savings you deserve.

  If you would prefer to make your donation through your broker, access our transfer information from the link above or contact Kristin A. Hermann, J.D., CFRE, at 248.645.3272 or khermann@cranbrook.edu.

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

  Cranbrook has invested in this secure IRA donation tool to make it easier than ever to give from your IRA and receive tax benefits. It takes only a few minutes to use and will auto-complete your paperwork for you.

  Please note: When you donate from your IRA, please use the link above so Cranbrook can track your gift and send you the correct receipt to ensure you get the tax savings you deserve.

  If you wish to name Cranbrook as the beneficiary of your retirement assets, our trusted partner FreeWill makes it simple to do so with their Beneficiaries tool.

• How can my donor-advised fund support Cranbrook?

  Cranbrook is a tax-exempt organization eligible to receive grants from donor-advised funds (DAFs). If you have a DAF, our trusted partner FreeWill makes it easy to support Cranbrook. FreeWill’s secure DAF tool integrates with your DAF custodian automatically and saves you the extra step of notifying Cranbrook about your gift. By using this tool, you can:

  • Recommend how you’d like your grant to be allocated.
  • Communicate your wishes to Cranbrook.
  • Share the details of your DAF grant.

  
  

  You can also recommend that Cranbrook receive all or a portion of the remainder of your DAF. 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.

• 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.