Thank you for your interest in making a gift to Saint Paul’s College!
If you have any questions about the various types of gift vehicles, please call or email our Office of Institutional Advancement and we will be happy to assist you; all inquiries will be kept confidential. (Please take note of recent tax law changes that may impact your charitable giving.)
Planning Wisely and Investing in the Future
For decades, graduates of Saint Paul’s College have credited their college experience with shaping their lives and character. Many have demonstrated their gratitude by making a planned gift because of their belief in the value of an education from a liberal arts institution with a coordinate system of student government. A planned gift is an investment in the future. Investing in Saint Paul’s means assurance of the continuation of academic standards and traditions; the same standards and traditions that have existed for over a century and will move Saint Paul’s College into the future.
Making a Difference
Planned giving donors make a difference. Your planned gift can insure the enduring success of the College for generations to come. Planned gifts support scholarships, learning opportunities for students, faculty development, departmental chairs, lectures and workshops, building projects, etc. Depending on your circumstances and the type of planned gift you choose you can receive income from your gift while at the same time save on taxes and pass more of your assets to the College tax free.
Donors at all income levels are discovering the personal satisfaction of planned giving and that often they are able to make a gift that would have otherwise not been possible.
What is Planned Giving?
A planned gift is a gift made in conjunction with your financial plan, retirement plan or estate plan. Our goal in the Advancement Office is to provide you with the guidance to enable you to provide for yourself and your family while at the same time making a gift that is meaningful to you. There are many options available to meet this goal.
There are several ways to give Estate and Life Income Gifts:
BEQUEST
The most common form of deferred gift to Saint Paul’s is a bequest contained in a person’s will or revocable (living) trust. A charitable bequest is a provision in your will that names Saint Paul’s College as the recipient of part of your estate. This may be a specific bequest, a percentage bequest, or a residuary bequest. All bequests are legacy gifts and donors become members of the Saint Paul’s College Legacy Society.
GIFT OF RETIREMENT PLANS
Naming Saint Paul’s as a primary or contingent beneficiary of a retirement plan (e.g. IRA, SEP, 401(k), 403(b), ESOP, etc.) may enable you to make a larger gift than you anticipated because income and estate taxes are not imposed when plan assets are distributed to Saint Paul’s College. Your retirement account’s plan administrator (the company that manages the account) can help you designate the College as a primary or contingent beneficiary on the plan’s beneficiary form.
LIFE INCOME GIFT
A life income gift, such as a charitable gift annuity or a charitable remainder unitrust, can provide you and/or your loved ones with an income for the duration of your lives or for a specific number of years. You receive a current income tax dedication as well.
Charitable Gift Annuity – This is a simple contract between the donor and the College. In exchange for the gifted asset, the donor receives guaranteed, fixed payments for life. Gifted assets may be in the form of cash or appreciated stocks.
Charitable Remainder Trust - This is a trust agreement with the College or other trustee. Payments to the income beneficiary from this type of trust are a percentage of the trust corpus, as valued annually, gifted assets may be cash, appreciated securities, or real estate.
RETAINED LIFE ESTATE IN PROPERTY
You can generate a current income tax deduction by giving a home or farm to Saint Paul’s College, while retaining the right to use the property during your lifetime. The property will also be removed from your taxable estate.
CHARITABLE LEAD TRUST
This is a trust agreement with the College or other trustee that provides payments to Saint Paul’s College for a term of years. At the end of the term, the principal is distributed to the donor, the donor’s family, or other non-charitable beneficiary. These trusts can be used to transfer assets to a loved one with a significantly reduced tax liability.
Saint Paul’s College does not provide tax advice and encourages all donors to contact their personal tax advisor for all questions and decisions related to the tax treatment of any gift made to the College.