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Major Gifts to the Aquinas Education and Formation Trust
Please consider helping us pay for the education and formation of our young student brothers and novices. Below you will find important information about the various options for donating a planned major gift to the Aquinas Education and Formation Trust of the Southern Dominican Province. Please consult a professional financial advisor prior to making your final decision.
CREATE A CHARITABLE GIFT ANNUITY
A Charitable Gift Annuity is a contractual agreement in which you transfer assets to the Aquinas Education and Formation Trust of the Southern Dominican Province, USA in exchange for our promise to pay fixed payments to you or to you and another individual for life. The annuity rate depends on your age on the day the annuity begins and will remain the same during the life of the agreement. For more information on creating a Charitable Gift Annuity, please email our Director of Development, Fr. Juan Torres, O.P., [email protected] or contact our Provincial Office at 504-837-2129.
DONATE STOCKS / APPRECIATED STOCK
Some of our benefactors find it more advantageous to give gifts of appreciated stock as opposed to cashing the stock and then providing a cash donation. By deducting the value of the stock as a charitable gift you may avoid substantial capital gain taxes. A gift of stock provides the Province with the current market value of that particular stock. When you contribute stocks, bonds, or other securities, you are allowed a charitable deduction based on whether the securities qualify as long-term or short-term capital gain property. For more information on tax advantages, please contact your financial advisor. And for more information on how to donate a gift of appreciated stock, please email our Director of Development, Fr. Juan Torres, O.P., jtorres@dominicanfriarsgala.org or call our Provincial Office at 504-837-2129.
DOUBLE YOUR CONTRIBUTION – MATCHING DONATIONS
Many corporations and businesses will match charitable contributions made to a nonprofit trust such as the Aquinas Education and Formation Trust. Please consult with your employer to see if such a policy exists.
ESTATE PLANNING
Occasionally people have left the Southern Dominican Province, USA a bequest in their will or estate plans. After you have provided for your family members in your will or trust, please consider remembering the Aquinas Education and Formation Trust with a bequest of any amount.
ESTATE PLANNING OPTIONSThere are a variety of bequests you can make in your will:
1. Direct Bequest: Bequest the Aquinas Education and Formation Trust a specific cash amount or title to some specific property.LEVERAGE YOUR LIFE INSURANCE POLICY
2. Residual Bequest: This type of bequest provides the Aquinas Education and Formation Trust with a residual gift from your estate. After first listing the needs and gifts for your heirs and loved ones, you assign the remaining amount, (the residual) to the Aquinas Trust.
3. Memorial Funds: This bequest is usually made in the form of a trust. Your surviving heirs can use the property or the income from a fund for as long as they live. At the time of their passing, the bequest becomes the property of the Aquinas Education and Formation Trust for preparing the student brothers and novices for profession and ordination to the priesthood.
4. Retirement Plan Assets: When you name the Aquinas Education and Formation Trust as the beneficiary of your retirement plan assets, you do not part with a single penny today and you protect your estate from taxes later. If you were to instead leave these assets to your family, up to 65 percent of their value could be eroded by taxes.
For more information on how you can remember the Aquinas Education and Formation Trust in your will, email our Director of Development, Fr. Juan Torres, O.P., [email protected] , or call our Provincial Office at 504-837-2129.
Life insurance policies are often drawn in order to support and protect those we love from the unexpected death of a provider or a loved one. Thankfully, the years go by and the initial need for those policies changes. You have two options to leverage life insurance policies. First, you can name the Aquinas Education and Formation Trust as the recipient of the death benefits from your life insurance policy. Or you could sign over ownership of the policy to the Aquinas Trust right now. This latter option allows you to receive an income tax deduction equal to the policy’s fair market value or the total premium paid, whichever is lower (Please note that laws addressing the contribution of insurance policies vary with each State. We encourage you to consult your attorney or financial consultant on how to best provide this gift.)
DONATING REAL ESTATE
You may give your personal residence or farm to the Aquinas Education and Formation Trust while retaining lifetime use of the property for yourself and your spouse. Referred to as an irrevocable gift, it provides you with an immediate charitable deduction equal to the fair market value of the Trust’s remainder interest, subject to a 30% limit.
Questions? Contact:
Fr. Juan Torres, O.P
Director of Development
[email protected]
713-529-4854 x 104