Other Ways to Give

Thank you for making a donation to St. Mary’s Academy Foundation of The Dalles. Your generous gift of any size or type will help us to support Catholic education in The Dalles and make a Catholic education possible for more children.

Gifts

Your gift, large or small becomes more effective when pooled with the resources of others. There are a variety of ways of charitable giving:

Gift of Life Insurance Policy

Life insurance is purchased to provide financial security. After a time, however, the need for a policy sometimes lessens – children become financially independent and family needs are provided for by other assets. A policy that is no longer needed is an ideal source from which to make an outright gift or to fund a charitable trust. The fair market value of the policy would determine the amount of the gift and of your charitable deduction.

Gift of Objects

Objects useful to the school may be given directly to the Foundation. Your gift will provide you with a charitable deduction for the object’s full market value and will avoid the capital gains taxes incurred if you were to sell the item.

Life Estate Contracts

By this type of gift you transfer your home or farm to St. Mary’s Academy Foundation. However, you retain the full use of your property for the rest of your and your spouse’s life. Your gift will reward you with an immediate charitable deduction and a reduction of taxes on your remaining estate.

Bequests

A properly drafted and up-to-date will assures you that those people and institutions for which you care will be provided for after your death. A bequest is an excellent way for a person who, during their lifetime, is unable to make a large gift yet wishes to eventually contribute to the Foundation. Such a gift generates estate tax savings.

Outright Gifts

You may wish to make an outright gift to the St. Mary’s Academy Foundation. An outright gift of cash, securities, or other property can be quickly put to use to strengthen and expand St. Mary’s programs and services. The actual cost to you is the amount of your gift minus the tax deduction you will receive.

Commemorative and Memorial Gifts

A gift to remember a relative or friend, or to commemorate an anniversary or other important event, is a most thoughtful and fitting contribution. A memorial or commemorative gift to the Academy Foundation may be designated toward specific programs.

Charitable Trusts

You can make a lasting gift to St. Mary’s Academy by creating a charitable trust through the Academy Foundation. A gift to St. Mary’s Academy through either a Charitable Remainder Annuity Trust or a Charitable Remainder Unitrust will provide you and another beneficiary or survivor, if you wish, with an annual income for life or a period of years and an immediate income tax charitable deduction. A gift in trust may further generate substantial savings on your estate and inheritance taxes, and reduce probate costs. Ultimately, the trust’s assets will become the property of the St. Mary’s Academy Foundation. Following are three types of charitable trusts: the Charitable Remainder Annuity Trust, the Charitable Remainder Unitrust, and the Charitable Lead Trust.

Charitable Remainder Annuity Trust

A Charitable Remainder Annuity Trust pays you an annual income determined by multiplying the fair market value of the assets originally put in trust by a fixed percent) at least 5%). Thus, every year you will receive the same amount regardless of the fluctuations of the trust’s assets. Once an annuity trust is created, nothing more may be added to it.

Charitable Remainder Unitrust

A Charitable Remainder Unitrust pays you an annual income determined by multiplying the fair market value of the trust’s assets as valued each year by a fixed percent (at least 5%). Thus, your annual income will change as the value of the trust’s assets change. You may add assets to a unitrust after it has been created.

Charitable Lead Trust

A Charitable Lead Trust is the contribution of an income interest to St. Mary’s Academy Foundation. Basically, income-producing property is placed in trust for a period of years, or for the life or lives of one or more individuals. The Academy Foundation receives the income from the trust during the period specified. At the termination of the trust, the principal returns to you or to someone you designate – frequently a family member. In addition to the opportunity it gives for a significant gift to the Academy, the Charitable Lead Trust is a useful and flexible personal estate-planning tool. It may: reduce your income taxes, reduce your estate taxes, avoid capital gains taxes, or add flexibility to your estate plan at reduced tax cost.