Planned Giving

Saint Ursula Academy provides donors with the opportunity to become a member of the Mother Fidelis Legacy Society.  It is a way to express your desire to share your resources and help ensure the future of Saint Ursula Academy.  Our planned giving program offers vehicles that can fit the donors needs while realizing a tax savings. 

If you are interested in learning more about our planned giving program or becoming a member of our Mother Fidelis Legacy Society by making a gift to Saint Ursula Academy, please contact Judy Sandquist, Vice President of Advancement at jsandquist@saintursula.org or 513-961-3410 x 151.

The following provides a brief overview of ways of giving to the Academy that may suit your needs.

The most common ways in which donors choose to give can have an immediate impact at St. Ursula. These are:
Outright Gift
Matching Corporate Gift
Pledge
Gift in Kind

Donors who want to prepare their gifts within their personal estate plans most often choose these ways of giving:
Bequest
Charitable Remainder Trust
Charitable Gift Annuity
Pooled Income Fund
Retirement Assets
Life Insurance
Charitable Lead Trust
Remainder Interest in Real Estate

Extending St. Ursula Academy's Legacy

Ways you can help

OUTRIGHT GIFT

Outright gifts are current contributions of cash, stocks, bonds, mutual fund shares, real estate and personal property. Outright gifts can be made by check, credit card or electronic transfer of stocks from your brokerage account to St. Ursula’s account. The benefits of an outright gift to St. Ursula include a tax deduction based upon the current value of the gift and the avoidance of capital-gains taxes.

MATCHING CORPORATE GIFT

Many U.S. companies match gifts of cash, stocks or bonds made to secondary education by their employees. Employees' spouses and company retirees are often eligible for this program. The company's matching gift form must accompany an individual's gift, and both should be sent to the
Development Office. Donors are entitled to income-tax deductions for individual gifts only. However, a donor is recognized by St. Ursula for the total amount of both the personal and matching gift.

PLEDGE

A pledge is a gift commitment intended to be paid over a period of one or more
years. A donor is entitled to an income tax deduction when each pledge payment is made.

GIFT-IN-KIND

Donors may transfer assets such as works of art, rare books, musical instuments or coin collections as gift commitments. If the gift is used by St. Ursula for a related purpose, the donor is entitled to an income-tax deduction for the current gift value. If St. Ursula sells the gift or uses it for an unrelated purpose, any deduction is limited to the cost basis. Likewise, if the donor created the gift assets, the income-tax deduction is limited to the cost of producing the assets.

BEQUEST

A bequest is made when a donor provides in a will or living trust for the transfer of a specific amount, a specific asset, or a portion of the remainder of an estate. Assets may be cash, stocks,
bonds, mutual fund shares, real estate or personal property. Bequests benefiting St. Ursula Academy avoid estate taxes.

Suggested wording for a bequest to benefit St. Ursula Academy is as follows:
I give, devis and bequeath to St. Ursula Academy a non-profit organization, presently located at 1339 East McMillan Street, Cincinnati, Ohio, County of Hamilton, the sum of $_________ (insert amount or percentage of estate), to be administed by the said St. Ursula Academy without restriction for its general education.

CHARITABLE REMAINDER TRUST

To establish one of several types of trust commitments, a donor transfers cash, securities or real estate to a trust. A fixed or variable income is paid to the donor and/or other beneficiary for life or for a specified term of years. Donors are entitled to income-tax deductions based upon the value of gifts and trust terms. Such gifts avoid capital gains and estate taxes. Commitments of this type appeal to donors who wish to contribute to St. Ursula and continue to receive income from investment of the gift assets.

CHARITABLE GIFT ANNUITY

A donor may create a gift annuity by transferring assets such as cash, stocks, bonds and mutual fund shares to St. Ursula Academy in exchange for a fixed, life-time income. Payments can begin
immediately or at a specified future date. Income received by the donor may be partially tax-free. Donors are entitled to income-tax deductions based upon the value of gifts and payment terms,
and they avoid estate taxes. This gift type is appealing to older donors seeking a guaranteed, fixed lifetime income.

POOLED INCOME FUNDS

Gifts of cash or securities to a St. Ursula pooled income fund generate variable lifetime income to
the donor or others whom the donor selects. Each year, donors receive a proportionate share of the pooled income fund's investment income. Donors are entitled to income-tax deductions based upon the value of gifts and life expectancies. Gifts avoid capital gains and estate taxes.

RETIREMENT ASSETS

Gifts from a retirement plan or IRA are made by naming St. Ursula Academy as a beneficiary after a donor's and/or spouse's lifetime. Retirement assets can also be transferred to a charitable remainder trust to benefit St. Ursula(see "Charitable Remainder Trust"). Gifts of retirement funds avoid estate and income taxes that would otherwise be paid if assets were distributed directly
to family.

The Charitable IRA Distribution is Still Available!
 

President Obama signed legislation extending the charitable IRA Distribution for 2011. This allows individuals 701/2 or older to make tax-free gifts of up to $100,000 to qualified charitable organization, like Saint Ursula Academy, using funds transferred directly from their IRA. If you act by December 31, 2011, you can make a gift effective for 2011.
 

You can make a gift using funds from your individual retirement account (IRA) without unfavorable tax effects. In the past you would have to report any amount taken from your IRA as taxable income. Now these gifts can be easily given without tax consequences.
 

Remember you must be:

  • 70 ½ or older

  • The gift is $100,000 or less

  • You transfer funds directly from an IRA

  •  You transfer the gift outright to one or more public charities.

For more information please consult your tax professional. Please feel free to call Judy Sandquist, Vice President of Advancement, at 513-961-3410 ext 151 or email her at jsandquist@saintursula.org.


LIFE INSURANCE

To make a life insurance gift, a donor names St. Ursula Academy as owner and beneficiary of a new or existing life insurance policy. Donors are entitled to income-tax deductions for new policy
premiums or the cash value of an existing policy.

CHARITABLE LEAD TRUST

To establish this type of gift commitment, a donor transfers cash, stocks, bonds or income-producing real estate to a trust. For the term of the trust, income from these assets benefits St. Ursula. Thereafter, the trust principal is typically returned to the donor or passed to the donor's
family. Lead trusts enable donors to pass assets to family at significantly reduced value for gift and estate-tax purposes and also can enable donors to reduce taxable income during the trust term.

REMAINDER INTEREST IN REAL ESTATE

A donor's residence, vacation home, timberland or farm may be transferred to St. Ursula Academy while reserving use of the property for the donor's or another's lifetime. An income-tax deduction is earned based upon the value of the property and the donor's life expectancy. Capital gains and estate taxes are avoided. Remainder interest gifts generate current income-tax savings while allowing donors to continue lifetime use of their real estate.

 Extending St. Ursula Academy’s Legacy

As we approach the 101st anniversary of our school’s founding, we must continue to work to preserve St. Ursula Academy’s legacy – a legacy handed to us by the Ursulines of Cincinnati. Preserving St. Ursula’s legacy also means preserving the Sisters legacy.

Saint Angela Meriic, foundress of the Ursuline Order, believed that a person should “Never cease to cultivate this vine that has been entrusted to you.” Each.generation of Saint Ursula Academy women forms a new branch on that vine. No two branches will ever be exactly alike, yet all have their nourishment from the same source--an Ursuline education. Each decade, many different people have continued to cultivate the vine, extending the legacy first begun in 1910.

 Ways You Can Help

St. Ursula Academy depends on its many loyal and devoted alumnae, parents, grandparents and friends for gifts to help fund excellence in education for our current students and to assure that the same excellence in education for young women of future generations. We appreciate and welcome gifts that are structured in ways that best fulfill your wishes and St. Ursula’s goals.

The St. Ursula Academy Administration and the Board of Trustees serve donors by ensuring their gifts are managed prudently and privately. The Administration and Board leaders assure that the uses of gift funds precisely follow donor wishes. Gifts made without restrictions are allocated only after the Board determines the priority for their use.

Your gifts to St. Ursula Academy are tax deductible to the full extent provided by law.

To learn more about St. Ursula Academy and how you can make a difference, please contact:
 

Judy Sandquist, Vice President of Advancement

St. Ursula Academy Development Office
1339 East McMillan Street
Cincinnati, Ohio 45229
Phone (513) 961-3410, ext. 151
Fax (513) 872-7161


 

 

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