Endowment

There are a number of ways to show your support for Bishop Shanahan High School, all of which are an important part of the Endowment program. Annual Giving provides the financial support necessary to enhance academic programs, provide additional technical and educational materials to our teachers, maintain tuition, provide financial aid for deserving students, and secure the growth and intellectual development of Bishop Shanahan High School.

A cash contribution may seem to be the easiest and is usually the first method that comes to mind, but it is not always the most advantageous to the donor. Through careful planning you can identify the method which best fits your situation, while maximizing the impact of your gift to Bishop Shanahan. Please feel free to contact the Advancement Office for more information on giving opportunities. You should also check with your attorney, accountant, or other tax advisor for the advantages or possible drawbacks of making a planned gift, based upon your particular circumstances.

GIFTS OF CASH
If you itemize, you can lower your income taxes simply by writing us a check. Gifts of cash are fully deductible-up to a maximum of 50% of your adjusted gross income. The deduction must be taken in the year in which your gift is made. Cash gifts can be made as a one-time contribution or over several years as payments toward a pledge.

Some companies will match your gift, making your gift worth more. If your company or employer has a matching gift program, simply enclose the form along with your check.

MATCHING GIFTS
A matching gift occurs when participating companies match (sometimes up to double or triple) the amount of dollars given to Bishop Shanahan by their employees and spouses, or retirees. The company matches the gift only after the donor has sent his or her gift to Bishop Shanahan along with the companies matching gift form. These forms can be obtained from the personnel offices of most companies. Certain companies will also match capital campaign and endowment gifts. Check with your personnel office to find out what kind of gifts they match.

BEQUESTS
A bequest is the transfer of funds or property from your estate to a beneficiary designated by you in your will. Bishop Shanahan can be named as the beneficiary in your will, this type of gift is not subject to federal, estate, or local inheritance taxes, and the value of the bequest is deductible in determining the taxable estate. Your will does not have to be redrafted; you can add us through an amendment to your will called a codicil.

GIFTS IN KIND
Bishop Shanahan will gratefully accept gift of supplies, books or equipment. Special tax deductions are available for firms or individuals contributing gifts in kind to educational institutions.

TRIBUTE AND MEMORIAL GIFTS
These types of gifts provide the donor with a unique way to remember or honor a loved one, or a special event. A letter advising the designated individual of the gift will be sent by the Advancement Office.

GIFTS OF STOCK
If you own stock, there are tax advantages to contributing stock rather than cash. A gift of appreciated stock offers two tax saving advantages. First you avoid paying any capital gains tax on the increase in value of the stock. Second, you receive an income tax deduction for the full fair market value of the stock at the time of the gift.

To qualify for these tax advantages you have to have owned the stock for generally more than one year. Gifts of appreciated stock are fully deductible – up to a maximum of 30% of you adjusted gross income.

GIFTS OF REAL ESTATE
A gift of real estate is like a gift of stock; any type of property may have so appreciated in value through the years that its sale would mean a sizeable capital gains tax. By making a gift of this property, you would avoid the capital gains tax, and at the same time, receive a charitable deduction for the full fair market value of the property. It is also possible to make a gift of your residence or vacation home so that you and your spouse can continue to use it for your lifetimes – while you receive a current income tax deduction.

GIFT OF LIFE INSURANCE
A gift of life insurance also provides a charitable deduction to the donor. You may donate a new policy or a paid-up policy you no longer need. In either case you must designate Bishop Shanahan as both the owner and beneficiary of the life insurance policy. Ongoing premium payments qualify as charitable deduction. Check with you insurance agent for more details.

LIFE INCOME GIFTS
This gift enables you to increase your income, receive a charitable contribution deduction and avoid capital gains taxes. If you currently own stock, which is paying you low dividends, maybe 2% or 3%, a “life income” gift may work for you. You could transfer the stock to Bishop Shanahan and establish a “Charitable Remainder Trust” that would provide you with a 5% or greater annual return. This income would be paid to you and/or a loved one for life, after which the assets would be distributed outright to us. Through such an arrangement, you would be increasing your income and making a meaningful, tax-deductible contribution to us at the same time.

CHARITABLE LEAD TRUSTS
Charitable lead trusts are the reverse of the life income gifts. The income from the trust is first paid to the charity. The assets are transferred to a trustee who makes payment to us for a specified number of years, after which time the assets are transferred to your heirs. By establishing a charitable lead trust you are able to pass assets on to your children and grandchildren either completely free or considerably free of all estate and gift taxes.