Planned giving provides multiple opportunities for donors to support Father James B. Hay Catholic School while also receiving tax and other financial benefits. There are many options that provide the donor with income payments and also a charitable deduction. All of these gifts help to ensure a secure future for Father James B. Hay Catholic School.
Each of the following Life Income Gifts provides you with an income and excellent tax benefits. In addition, your gift will provide generous support to FJBH.
A Charitable Remainder Trust
Provides income to you or to other named income beneficiaries for life, a set number of years or a combination of the two. The remaining amount is a gift to Father James B. Hay Catholic School. Charitable remainder trusts can offer variable or fixed income and they can help you avoid capital gains taxes as well as reduce income and estate taxes.
A simple way to support Father James B. Hay Catholic School and to help provide for its future. Bequests to FJBH may be unrestricted or designated for a particular purpose.
Retirement Plan Gifts
Another easy way to support Father James B. Hay Catholic School and they are a great asset to give to a charity. Retirement plan assets are often taxed at extremely high rates, upwards of 50%. Therefore, it makes more sense to pass assets along to heirs that are taxed at lower rates and donate retirement plan assets to FJBH. Simply name Father James B. Hay Catholic School as the beneficiary of your 401(k), 403(b) or IRA.
A Gift of Real Estate
A unique way to support the school while achieving a possible avoidance of capital gains tax and receiving a charitable income tax deduction. Also, the value of the real estate is taken out of your taxable estate. Real estate can be given to FJBH through different means including bequeathing the property, giving the property outright, transferring the property into a charitable remainder trust, or establishing a retained life estate. A retained life estate is established when you give your residence or vacation property to Father James B. Hay Catholic School but reserve the use of the property for your life and/or the life of another beneficiary.