Annual Fund

Planned Giving

St. Patrick's can assist you with designing many forms of gifts which support our students while reducing or eliminating income, gift, and estate taxes. St.Patrick's School is happy to help you create the gift that is right for you.

The following is a list of several gift planning vehicles:

Bequests
One of the simplest ways of creating a planned gift is by including St.Patrick's School in your will or trust. Making a bequest allows you to give a substantial gift without experiencing any hardship. A bequest can even be established so that family and friends receive funds before any charity. St. Patrick's School is happy to provide you or your adviser with any information you made need in the process of planning your estate.

Life Insurance
Life insurance can make a great gift to St.Patrick's School. If you are carrying more insurance coverage than your family obligations now require, you may want to consider gifting an unneeded, fully paid policy. If you transfer all rights and incidents of ownership of your policy to the School, you will be eligible for a charitable income tax deduction equal to the policy's cash surrender value or cost basis, whichever is less. The insurance policy must be whole life, not term insurance. The value of your gift for gift crediting purposes will be the cash surrender value of your policy on the date of transfer.

Securities
There are many benefits to donating securities instead of cash. Appreciated securities held for more than twelve months benefit a donor in two ways. The donor is able to claim a charitable income tax deduction for the full market value of the securities and there is a capital gains tax savings.

Real Estate
An outright gift of real estate held by the donor for more than 12 months provides the donor with a charitable income tax deduction for the full market value of the property, based on an independent appraisal, avoid capital gains taxes, and eliminate certain costs associated with the transfer of real property. Gifts of a real estate can also provide you with long-term income.

The retained life estate allows the donor or a designee of the donor to live in their home for the rest of their life. After that time, the real estate is owned outright by St.Patrick's School, without the complications of probate proceedings. This gift allows the donor to receive current income tax deductions for the discounted value of the property.