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    Other Ways To Give

 

Planned Giving Options
Life Insurance and Bequests Gifts
Charitable Remainder Unitrust and Annuity Trust
Charitable Lead Trust
Charitable Gift Annuities and Deferred Gift Annuities
Designate St. Thomas Aquinas as a beneficiary of your pension plan
Using your IRA for charitable gifts to St. Thomas in your life time

Planned Giving Options

Gifts of appreciated securities, real estate, or life insurance are also welcome, and may provide valuable tax benefits to the donor. By naming the college as a beneficiary in a will or trust you will be able to realize your goal of making a substantial gift to St. Thomas Aquinas College while also possible reducing estate tax obligations.

Life Insurance and Bequests Gifts

Whether you purchase a new life insurance policy specifically to benefit St. Thomas or add the College to the list of beneficiaries in a current policy, insurance is a straight forward way to meet your philanthropic goals. Another direct method of support is by designating a bequest of property or assets to St. Thomas in your will. In turn, your legacy gift will can help to reduce your families estate tax liabilities.

Charitable Remainder Unitrust and Annuity Trust

Some professionals refer to this as the “gift that pays you back.” A Charitable Remainder Trust (CRUT), allows donors to set aside a portion of their assets as a significant gift, while maintaining an income flow. A CRUT can be established with cash, appreciated stocks or real estate. The donor will receive an income of not less than 5% and not more than 50% of the market value of the trust assets. At the termination of the trust, the remaining assets revert in full to the designated charity.  Tax benefits include a tax deduction for the present value of the charitable gift and because the CRUT is tax exempt, capital gains liability is deferred until the appreciated assets are sold by the CRUT.  The income from a CRUT will vary depending upon the current market value of the assets held by the trust. A Charitable Remainder Annuity Trust pays a pre-determined fixed amount which will never due to fluctuation, up or down, on the market value of the assets held in trust.

Charitable Lead Trust

A Charitable Lead Trust (CLT) is the mirror image of a CRUT in that an annual income flow will be distributed to the charity while the assets that have been used to establish the trust revert back to the trust heir as set out in a Non-Grantor CLT or even to the original donor, as in the case of a Grantor CLT. By establishing the trust, the donor is in effect “lending” the assets to St. Thomas for the length of the trust. The tax benefits of the lead trust include the reduction or elimination of transfer taxes (estate and/or gift taxes) imposed on the transfer of assets back to the beneficiaries at the end of the term of the trust.

Charitable Gift Annuities and Deferred Gift Annuities

A Charitable Gift Annuity is an agreement between the donor and St. Thomas. Under the terms of this agreement the donor will receive a fixed income for life in exchange for the charitable gift. The donor is eligible for an income tax deduction on the total assets used to set up the trust.  A deferred gift annuity is structured to defer payments by a year or more. By doing so, the donor receives a larger initial charitable tax deduction and a higher rate of income when the annuity payouts begin.

Designate St. Thomas Aquinas as a beneficiary of your pension plan

You can add St. Thomas Aquinas College as beneficiary to all or a stated percentage of your pension accounts, 401K or 403 B. This is done by simply requesting a Change of Beneficiary form from your employer or financial institution. By doing so, this portion of your estate will be sheltered from both estate and income tax liability. In addition, the estate will receive a charitable deduction for the full value of the amount designed to St. Thomas.

Using your IRA for charitable gifts to St. Thomas in your life time

If you are over 59 ½ you can withdraw funds from your IRA account for charitable purposes without being subject to an early withdrawal penalty.  While the funds withdrawn are initially subject to income tax, your donation is eligible for an income tax charitable deduction, thus diminishing your overall tax burden.

For more information about making a contribution or to discuss to discuss your planned giving and pledge gift options contact please call or e-mail: Mr. Kevin P. Duignan, '75, ’06 MBA Vice President of Institutional Advancement at 845-398-4017, kduignan@stac.edu or Judith Perrin, Director of Develpment at (845) 398-4045, email jperrin@stac.edu

This material is for informational purposes only. Please consult your own personal legal and financial advisors before making any gifting plans.
 
 
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St. Thomas Aquinas College
125 Route 340
Sparkill, NY 10976
845.398.4100

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