Planned Giving

You can support Saint Mary’s School in many ways through planned giving.

Different methods will be appropriate for different personal circumstances. The opportunities listed below will help you as you consider ways of carrying out your philanthropic intentions.

The Alumnae/Development Office staff is pleased to discuss each method with you; however, the school recommends that you also have this discussion with your attorney, financial planner, or tax adviser.

As you consider supporting Saint Mary’s School, you may have these opportunities for giving:

Planned Giving Options

Outright Gifts

An outright gift is just what its name implies: a gift transferred immediately from you to the school. This category can include cash, securities, tangible personal property (gift-in-kind), or real estate.

Deferred Gifts

A deferred gift is one that will be received by the school at an undetermined time in the future. Deferred gifts include remainder trusts, life insurance, and bequests.

Charitable Remainder Trusts: A trust established by a donor where property is irrevocably placed in trust. The donor or beneficiary receives income from the trust and the remainder passes to the school at the donor's death or at the end of a fixed term not to exceed 20 years.

Charitable Remainder Unitrust: The primary feature of the unitrust is that it provides for payment to the income beneficiary in an amount that may vary. The payment must equal a fixed percentage of the net fair market value of the trust assets valued annually. Additional contributions to the trust are permitted.

    Insurance Policies

    Gifts of life insurance policies provide excellent means of making significant future contributions while realizing current tax benefits.

    • Make the school the beneficiary of an existing policy and earn an estate tax charitable deduction.
    • Make the school the owner and beneficiary of an existing policy, thus removing it from your taxable estate and earning an immediate income tax deduction approximately equal to the cash value of the policy (future premium payments are tax deductible).
    • Take out a new policy with the school as the owner and beneficiary (all premium payments are tax deductible).
    • Use life insurance in conjunction with a life income gift to "replace" for your heirs an asset that you have given to the school.

    Please check with your insurance agent for details.

    Bequests

    A charitable bequest, as outlined in your will, is perhaps one of the easiest means by which you can make a substantial gift to Saint Mary's School.

    • Specific bequests are usually a stated dollar amount. It can also be a gift of securities, real estate or tangible personal property.
    • Residual bequests name the school to receive all or a percentage of the remainder of the estate after specific bequests have been fulfilled.
    • Contingent bequests take effect only if all primary beneficiaries named in the will have predeceased the donor. Declaring the school a contingent beneficiary can prevent the property from going to the state if there are no heirs.

    Print this form for sample bequest language to share with your legal advisor for inclusion in a living trust, a new will, or in a codicil to an existing will or trust.

    Charitable Lead Trust

    The charitable lead trust is a trust created by a donor where the income interest is in favor of the school for a stated period of time. The remainder interest is either retained by the donor or given to other family members. The charitable lead trust can offer substantial estate tax benefits. Charitable lead trusts are not deferred gifts, but are planned gifts.

    As with any substantial financial planning, it is important that you consult with your financial, tax, and estate-planning advisor to determine what may be the best method for achieving your charitable intent while planning for your financial future.

    If Saint Mary’s is part of your estate plans, please let us know.

    Our deferred gift information sheet is a quick and easy way to inform us of your planned giving intentions.

    For more information about planned giving, please contact:

    Margaret McGlohon '81C
    Director of Alumnae Relations
    919-424-4171
    memcglohon@sms.edu

    Heritage Society

    The Heritage Society honors those alumnae, parents, grandparents, and other friends who choose to sustain the mission of Saint Mary’s School through their planned and estate gifts. Members of The Heritage Society have made a provision to support Saint Mary’s in their wills, through one or more life-income gift arrangements, or by some other deferred gift plan which will ultimately benefit the school.

    For further information about the Heritage Society please contact:

    Margaret McGlohon '81C
    Director of Alumnae Relations
    919-424-4171
    memcglohon@sms.edu

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