Planned gifts offer the donor an effective way to participate in giving to Bishop McDevitt High School and, in many cases, when combined with cash gifts, provide an attractive way to increase donor commitment to the school.
The following are examples of planned gift forms and the ways in which they will be treated at the school:
- Bequests: All bequests received will be used at the discretion of the principal, unless otherwise requested and restricted by the donor.
- Charitable Remainder Trusts/Life Income Gifts: Charitable Remainder Annuity Trusts or Unitrusts will be credited to the school at 100% of the fair market value of the assets in the trust on the date of the gift.
- Charitable Lead Trust: The school will be credited with the projected value of the income to be paid for the term of the trust.
- Life Insurance: Policies irrevocably naming Bishop McDevitt High School as owner and beneficiary will be credited to the school in the amount of the cash surrender value and all premiums paid during the pledge period. The proceeds would not be subject to estate taxes and the premiums would be deductible for income tax purposes in the years in which they are paid.
- Gifts of Real Estate and Tangible Personal Property: The school will be credited with 100% of the fair market value of the property as professionally valued. Gifts can consist of almost any type of property: personal or recreational residence, farm or ranch, commercial building, subdivision lots, underdeveloped property or a fractional interest in property. Assets may be given outright, may serve as the corpus of a trust arrangement, or (in the case of a personal residence) may be given with the right of lifetime tenancy by donor and/or spouse. Immediate partial charitable deduction is available to the donor.
In all cases, donors are advised to consult with their tax advisor to determine specific tax savings and/or the planned giving opportunity which best fits their particular need.
For further information, please contact Cheri Comasco, Director of Advancement, at 717- 236-7973 ext. 2133 or at firstname.lastname@example.org.