Did you know that more than 2/3 of Americans give to charities each year? Did you also know that there is a way to support a charitable organization, like Academy of the Holy Names, without writing a check?
Planned giving has traditionally been defined as the gift that an individual makes near the end of his or her lifetime. However, there are several other opportunities for planned giving that make a big impact for both the donor and the charity during a donor’s lifetime.
A meaningful way to support Holy Names is to include it when making your financial plans. Some gifts can be of immediate benefit to AHN; others can be ongoing or deferred. By including Holy Names in your philanthropic plans, you may receive tax benefits, an income stream, as well as the peace of mind that often comes with leaving an important legacy. There are variety of giving options:
- Have you heard about a Qualified Charitable Distribution (QCD) from an Individual Retirement Account (IRA)?
- Generally, when an IRA owner is 72 years old, the required minimum distribution (RMD) from a traditional IRA is taxable to the owner.
- If the owner donates that required minimum distribution, or a portion of it, directly to Academy of the Holy Names, it is considered a charitable contribution and the amount is excluded from the donor’s adjusted gross income in the year the contribution was made.
- As you plan your charitable giving for this year, be sure to consult your financial and tax adviser for help in determining the best options for you and your estate planning.
- Have you ever considered a gift of life insurance?
- If you have a life insurance policy you no longer need to support your spouse, partner or family, you can name AHN as the beneficiary of that policy, or add AHN as one of the beneficiaries of the policy.
- Holy Names would then receive the policy’s death benefit when you pass.
- There are no current tax benefits to this approach, however, the value of the policy would be removed from your estate for federal estate tax purposes.
- Have you ever considered honoring a loved one with a tribute or memorial gift?
- A gift to Holy Names may be given in honor of a living person, to memorialize someone who is deceased, or to commemorate a significant event.
- Tribute and memorial gifts are an excellent way to honor and perpetuate the ideals of the named person or event. Families of those honored or memorialized will be notified of the donor’s gift.
- Have you included Holy Names in your legacy plans?
- AHN has received a number of significant and meaningful planned gifts. These gifts came unexpectedly from the estates of grateful alumnae and friends. Sadly, we never had the opportunity to thank these people personally, or to celebrate their generosity with them.
- In writing your will or living trust, you can specify Academy of the Holy Names as sole or partial beneficiary of your estate. Click here to learn more about making a bequest to Holy Names.
- Please let us know if you have included Academy of the Holy Names in your will or estate plans. We would welcome you as a member of The Mother Marie Rose Legacy Society and recognize your thoughtfulness.
- Outright Gift of Cash, Securities, Real Estate
- Outright gifts can include cash, appreciated stock or real estate, or tangible property/equipment.
- A Trust vehicle can be established to transfer cash, securities, and/or property and can be established to provide an income stream to you or your beneficiaries.
Questions? Please consult your financial adviser for more information or contact Nora Ritinski, Director of Institutional Advancement, at firstname.lastname@example.org
or 518-438-7895 ext. 219.