Stewardship and Development
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Ways of Giving to Catholic Schools
Cash Gifts
Outright cash gifts are the most common form of giving to Catholic Schools. Your gift becomes immediately available to support important programs and services. The donor will be credited with the full amount of his or her gift - which may be tax deductible.
Donations can be designated to the diocesan "Excellence Fund for Catholic Schools" or to individual schools in support of their annual appeals, tuition assistance funds or special events.
Bequests (see examples below)
Your will is a meaningful way to make a charitable gift of lasting value to Catholic Schools. Through a bequest provision, you can designate a specific amount of money, a percentage of your estate, or the remainder of your estate after other bequests are satisfied. Adding a codicil to an existing will is a simple process that begins by making your intentions known to your attorney.
Memorial and Tribute Giving
Gifts in memory of deceased friends and loved ones – or gifts that honor living individuals – are gratefully accepted. Such contributions are often used to reflect the special interests of the person honored. Any gift may be designated in memory of, or in honor of, a loved one.
Gifts of Appreciated Securities
If you own long-term securities that have appreciated in value, you may prefer to contribute securities rather than cash. In this way, there may be both capital gains and tax deduction benefits. Please contact the Office of Stewardship and Development for the proper form and specific stock transfer instructions.
Charitable Gift Annuities
A charitable gift annuity is a simple life income agreement between a donor and the diocese. In exchange for your gift, designated to Catholic Schools, you receive fixed payments for your lifetime and/or the lifetime of another person. You may be entitled to a partial tax deduction in the year of the gift, and a portion of each payment may be tax-free for a period of years as well. The size of the payments is based on the amount of the gift and the annuitant’s age. Gift annuity plans start at $10,000, and are restricted to donors 65 years or older.
Charitable Remainder Trusts
Charitable trusts can result in significant support for the work of Catholic Schools, while also securing your financial future and reducing taxes for you and your heirs. Through a charitable remainder trust, you can provide income for yourself or a loved one and benefit Catholic Schools. You specify the amount of payments to be distributed (at least 5% per year), to which payments are to be paid, the duration of payments (a period of years or the beneficiary’s lifetime) and the Catholic School that will receive the remainder. The trust may be set up for the lives of the beneficiaries or for a term of up to 20 years.
Gifts of Life Insurance
Life insurance may be an especially attractive gift vehicle if you own a policy that is no longer needed for its original purpose. In addition, those who qualify for low-cost premiums may find it more affordable and convenient to plan a significant gift using life insurance. By naming Catholic Schools as the owner and beneficiary of a life insurance policy, the donor may be entitled to an immediate tax deduction for the accumulated cash value of the policy (if any) and a future deduction for any subsequent premiums he or she pays.
Gifts of Real Estate
Real property gifts will be accepted for Catholic Schools at the discretion of the Diocese after a review of all relevant factors. Because of the complexities and issues involved with real property gifts, the Diocese has adopted a set of procedures. Please contact the Office of Stewardship and Development for more information.
Remembering Catholic Schools in your will
Individuals, in exercising the privilege to determine the final distribution of their estates, may designate that a portion of their assets be used to benefit the work of Catholic Schools. Bequests can take a wide variety of forms. The following samples are included for consideration in preparing your will.
General bequest: A general bequest is one of the most popular ways to make a charitable gift by will. With this bequest you simply leave a specific dollar amount. This is the most common type of bequest.
Example: I give $50,000 to ___________________Catholic School, Rochester N.Y., to be used for its exempt purposes.
Residuary bequest: A residuary bequest is used to give an organization all (or a portion) of an estate after debts, taxes, expenses and other bequests have been paid.
Example: I give the rest of the property I own at my death to________ Catholic Schools, Rochester N.Y., to be used for its exempt purposes.
Percentage bequest: A bequest can be expressed as a percentage of the estate or of the residuary estate. This is the most flexible way to give. The size of the gift automatically changes with the size of the estate.
Example: I give 10% of my estate to______________ Catholic School, Rochester N.Y., to be used for its exempt purposes.
Restricted bequest: You may wish to restrict your bequest for a specific purpose. A restricted bequest should be made in the broadest terms possible consistent with your interests. This guards against the possibility of your gift becoming obsolete, especially as new and pressing needs emerge.
Example: I give $25,000 to__________________ Catholic School, Rochester N.Y., for the purpose of supporting its fine arts program.
For further information about supporting Catholic school education or a particular Catholic school, please contact:
Stewardship & Development Office
Roman Catholic Diocese of Rochester
1150 Buffalo Road
Rochester, NY 14624-1890
(585) 328-3228/ (800) 388-7177, ext 1297
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