Planned Giving

Examples of Planned Gifts include designating Holy Cross Church/School in your will, thus forming a charitable trust or purchasing a gift annuity. Such charitable trusts offer significant tax savings while providing an annual income to you and your family. Trusts can be funded with assets, such as appreciated property or securities. At the end of your life, the school will receive the remaining funds in a trust. Gift annuities provide you with a lifetime income, which is based upon your age.

Other Charitable Giving Methods

Cash:
Gifts of cash are always a wonderful method of memorial giving. It is a convenience in that such donations are tax deductible with regards to the Internal Revenue Service.

Securities:
Although cash gifts are the most popular, you may also fund memorial gifts with securities (stocks, bonds, mutual funds). This is another preferred way by which to make a donation. If your assets have appreciated in value since their initial purchase, you will be eligible for tax savings and an avoidance of having to pay capital gains tax.  

Insurance:
You may donate to Holy Cross Church/School by making the organization the owner and beneficiary of your insurance policy.

Personal Property:
If a gift of tangible personal property is related to the church/school’s purpose, it is fully deductible at fair market value. Other personal property gifts are limited to cost basis for determining your tax deduction.

Real Estate:
Likewise, another excellent way to make a memorial gift is to create a legacy through your estate. Gifts of appreciated real estate are similar to gifts of appreciated stock. If you have owned the real estate for 12 months or more, you will avoid capital gains taxes and may deduct the fair market value of the real estate. These particular donations require provisions in your will and it is recommended you contact an attorney before making a bequest.