“For it is in giving that we receive…”
GIFTS OF CASH: Cash is obviously the easiest way to contribute. Click on DONATE NOW to do so today.
GIFTS OF A BEQUEST: We all would love to leave our children money when we die but according to the University of Indiana when asked the question “What is the one thing you want to leave to your children?” most people say “my values”. One of the ways we can pass on our values is by planning our estates. If you die without a will, it will be up to a judge to decide where your money goes and to whom. So plan now, talk to an attorney and/or a financial advisor. Many people think, they don’t have to worry about a will because they are not rich. However, if you own a piece of property, a vehicle, a savings account or a retirement pension with survivor benefits, you need a plan. You may also need expert help because tax laws are complicated. Often people think they are leaving their children a tidy sum of money but the estate taxes drastically deplete the inheritance. THIS IS WHY IT MAY BE IMPORTANT TO LEAVE MONEY TO A CHARITY, like Lima Central Catholic High School.
A charitable bequest means you have made arrangements through your will or living trust for a gift upon your death to Lima Central Catholic. This is the option that many donors choose because it is so simple and allows you more choices. To include LCC in your will simply talk to your attorney or estate planner about including the following sentence in your will: “I (your name), of (list city, state and zip code), give, devise and bequeath to Lima Central Catholic High School (list a dollar amount or a percentage of the estate or a description of the property you wish to leave LCC) for its unrestricted use and purpose.” That’s all there is to it, you have now made a charitable bequest! What could be simpler or offer you more flexibility? Of course as with the other donation methods, a bequest provides tax relief benefits for your estate which may be particularly beneficial to your heirs.
Naming LCC in your will and financial plans is also an easy way to leave a lasting legacy. We memorialize those who do so as members of our Diamond Thunderbird Circle. Click on Diamond Thunderbird Circle to learn more about our various levels of giving.
GIFTS OF SECURITIES: Gifting securities whether during your lifetime or as part of your will is an excellent way to offset taxes. By talking with a financial planner you can learn when it might be best to make a gift of securities. Did you know that donating securities that have decreased in value may be an excellent way to offset your loss in the stock market? You may actually be able to take the deduction for a loss, plus take the deduction for a charitable donation.
GIFTS OF LIFE INSURANCE: If you own a life insurance policy that is no longer needed for its original purpose then you may want to consider making Lima Central Catholic High School the beneficiary. Also, buying a life insurance policy for the express purpose of leaving a legacy donation to the school is an excellent way of just paying a little each month in order to benefit the school upon your death.
GIFTS FROM RETIREMENT PENSIONS AND IRAS: Sometimes a retirement pension operates similar to an IRA which means there are mandatory withdrawals periods. Often that mandatory withdrawal can be just enough to increase your income placing you in a higher income tax bracket. In that case, you may be better off to have the withdrawal sent directly from your IRA or pension plan to Lima Central Catholic in order to reap the largest charitable donation benefit for tax purposes.
GIFTS OF A CHARITABLE GIFT ANNUITY: Charitable gift annuities are an excellent way to set money aside for Lima Central Catholic High School but it offers the donor a couple added benefits. The donor can rely on a steady stream of monthly income from the annuity with assets going to LCC upon the donor’s death. Charitable gift annuities also provide peace of mind to the donor since the annuity has a fixed rate of return. There is never a concern about changing interest rates or a fluctuating stock market. Most insurance agents or financial advisors can set up a charitable gift annuity for you in order to fulfill your desire to donate to the school and still have a certain income for the remainder of your lifetime.