Don’t Just Make a Gift – Plan It.
Writing a check is the simplest, fastest way to make a gift to Holy Cross – and outright, cash gifts allow us to do our job, day in and day out.
But maybe you’ve been wondering how you can help guarantee that we’ll keep on doing our job for generations to come. Or, perhaps you’re starting to plan for your own financial future, looking for ways to save taxes, increase retirement earnings, and protect your assets. A well planned gift to us can help you achieve all of those goals.
Where to start? Well, there are three ways of giving that reward you as well as us:
Strategy #1: Give an Asset Instead of Cash
The IRS permits charitable donors to take advantage of a unique tax break. You can give Holy Cross Prep an asset that has increased in value since you acquired it, claim a charitable deduction for the asset’s current, fair market value, and pay no capital gains tax on the appreciation that you’ve enjoyed. This double tax benefit allows you to make a larger gift than you might be able to afford if you used cash, and it applies to most assets in your portfolio:
- Marketable stock, bonds and mutual fund shares;
- Artwork, collectibles and equipment that we can use in our work;
- Residential, commercial or investment real estate.
Strategy #2: Make a Gift That Pays You Back
Are you holding stock that has grown in value but is paying you very low dividends? Are you concerned about increasing your income now that you’ve retired? Do you want to use stock to make a significant gift to us, but need the dividend income that it’s paying you? Are you looking for additional cash to help finance your entry into a retirement facility? Your solution could be a life-income gift.
A life income gift is an arrangement that provides you or others with income and leaves a gift for charity in the future. Creating a charitable remainder trust, charitable gift annuity, or other life income gift at Holy Cross is a great way to support your school while also taking care of yourself or loved ones.
Strategy #3: Make a Gift That Costs You Nothing During Your Lifetime
A Bequest is a gift to Holy Cross Prep made through your will or revocable trust. It can be the easiest gift of all because you don’t part with any assets while you are alive. It’s also revocable, so you can update or change it as much as you like.
Yet for all their ease and simplicity, we take bequests very seriously at Holy Cross Prep. They are the bedrock of our future financial strength, and we count on them to help us meet the challenges and opportunities that we’ll be confronting. A “pipeline” of bequests allows us to plan confidently today and act decisively tomorrow.
For information about Planned Giving, please contact John Langan, Director of Institutional Advancement at 856-461-5400 Ext 3006, or via email.