Planned Giving and Securities Donation
What’s it all about?
Planned giving is simply that--planning to give to a charity such as Pensacola Catholic High School some part of your treasure--usually, but not always, after your death.
A number of planned gift vehicles exist for you to make gifts over time, all with unique and beneficial tax advantages. Planned Giving allows you to provide a gift to Catholic High while carrying out your own financial goals. Through Planned Giving, you may find that you are able to make a more generous gift to CHS while receiving financial benefits such as current income, tax savings, avoidance of capital gains tax, and reduced estate settlement cost.
The Sister Mary Consuella Society has been established for those whose planned gift to Catholic High exceeds $5,000.
Examples of Planned Gifts include:
Testamentary Bequests – Why not include in your Will or trust document a provision making a bequest of property to CHS? A simple bequest of cash or other property from an estate or trust can greatly benefit future academics and other worthwhile programs at CHS, while also reducing potential estate tax liabilities and administrative costs.
Charitable Remainder Trusts - This type trust allows an immediate income tax deduction for a portion of a bequest, avoids the potential of capital gains tax, ensures income for one's lifetime or a set term, and provides for the remainder of the assets to pass to Catholic High at the death of the donor.
Life Insurance –Catholic High can be named as the beneficiary of a life insurance policy. The payment of insurance premiums is a relatively inexpensive way to make a large bequest of either the face amount of the insurance policy or a designated smaller percentage. Income and/or estate tax benefits could result.
Appreciated Property - When property is donated to Catholic High that has appreciated in value over its cost, the fair market value of the appreciated property, such as publicly traded securities and land, is the value usually deducted for income tax purposes. In addition to the reduction in income tax, capital gains tax is also avoided that would be due on the sale of such property.
Retirement Plan Gifts - Consider naming Catholic High as a full or partial beneficiary of your IRA, 401k or whatever retirement plan you have. There will be no income tax to CHS and the school only receives funds you haven’t used while alive. This can be an easy gift to accomplish that makes a real difference to the Catholic High. Or, consider a gift of part or all of your annual required distribution. Up to $100,000 can be gifted this way with tax savings in almost every case.
Memorial Gifts - Make a gift to Catholic High to honor someone else living or dead. These gifts are deductible for income tax purposes now. Your gift can be restricted -- that is, designated for specific purposes-- or, if you leave it unrestricted, it will help fund the general needs of the school.
Matching Gifts - Many employers have a matching gift program, which is designed to encourage employees and retirees to make gifts to non-profit entities such as CHS. Contact your employer for details of such a program.
For more information on making a bequest to Pensacola Catholic High School in your will or trust,
please contact the Advancement Office at (850) 436-6400, ext. 103.
Disclaimer: The information provided above is not intended as legal or tax advice.
Please consult your legal or tax advisor for such advice.