Planned gifts are often called “legacy gifts” because they are created to make an impact on future generations. Planned giving is a way in which donors can support Villa Angela-St. Joseph High School during their lifetime and/or after their death. Planned giving is easy to do and you do not have to be wealthy to do it.
Planned gifts can be made through the following options*:
*We encourage you to consult with your financial adviser and/or attorney to discuss the tax implications.
Bequests
The easiest way to give a planned gift to VASJ is through a will or living trust. VASJ can provide language that is suitable. The following is an example of an unrestricted bequest:
“I hereby give, devise and bequeath to Villa Angela-St. Joseph High School the sum of $___ or ___percent(%) of the rest, residue an remainder of my estate to be used by Villa Angela-St. Joseph High School for its unrestricted purposes.”
Life Insurance
You can make a substantial gift by naming VASJ a beneficiary of your life insurance policy. VASJ only accepts fully paid insurance policies. If VASJ is named as the beneficiary and receives the proceeds, the value of the policy may be deductible from your estate.
Tax-Advantaged Outright Gifts
You can give outright lifetime gifts of cash and/or appreciated assets such as real estate or stocks to VASJ. Donors are entitled to a tax deduction for the dollar amount of cash gifts they itemize on their deductions. In terms of appreciated assets such as stocks, capital gains and losses are not recognized by VASJ or the donor on the difference between the stock’s cost basis and fair market value. Donors are entitled to a tax deduction generally equal to the fair market value of the asset at the time the gift is made.
Charitable Gift Annuities
Charitable gift annuities provide donors with a fixed income for life. It is a contract between the donor and VASJ whereby the issuing agency agrees, in exchange for the donor’s gift, to pay a fixed lifetime annuity to the donor and other beneficiaries. Annuity contracts also guarantee a constant, periodic payment to VASJ for life. The income received is based on the amount of the gift and the donor’s age.
Charitable gift annuities could provide the following benefits:
Gifts of retirement plan assets and other charitable trusts such as a Charitable Remainder trust are additional methods of planned giving to VASJ.
If you have named Villa Angela-St. Joseph High School in a bequest or would like more information about planned giving options, please contact the Advancement Department at 216-481-8414 ext. 150 or advancement@vasj.com.