Planned Giving

Invest in the Future

Your Legacy at West Catholic

Making a planned gift is a simple act of generosity for individuals of any means. Your planned gift helps us meet new challenges and provide the opportunity of a West Catholic education to the leaders of tomorrow.

With a planned gift you can:

  • Make a larger charitable gift than you thought possible
  • Take care of the financial needs of your family first
  • Provide inheritances for your heirs at a lower tax cost
  • Reduce your income tax and even avoid capital gains taxes
  • Diversify your investment portfolio
  • Leave a legacy without giving up assets
  • Create scholarships to provide financial assistance for families committed to West Catholic
  • Advocate for Catholic schools and increase awareness of their value.


For more information on how you can create a planned gift to benefit West Catholic Preparatory High School please contact:

Brady_Andrew
Director of Institutional Advancement
Andrew Brady '02

Bequests

Making a gift through your will is the easiest way to create a legacy at West Catholic. Bequests cost nothing now and may be changed at any time. If you are considering naming West Catholic in your will, please consider the following sample bequest language:

“I, (name), of (city, state, zip), give, devise, and bequest the sum of (specific amount or percentage of the estate or description of property) to West Catholic Preparatory High School 4501 Chestnut Street Philadelphia, Pa 19139).”


Stocks and other securities

Giving appreciated securities is a tax-wise way for you to support West Catholic. When you donate securities held longer than one year, you deduct the full fair market value, regardless of what was originally paid for them. You also avoid paying capital gains tax.


401k and Retirement Plans

Giving from your retirement assets can be simple and advantageous. Individuals over 70 ½ can make a donation from their Required Minimum Distribution directly to West Catholic. The amount will count towards the minimum but won’t be realized as income for tax purposes.

Naming West Catholic as the beneficiary of your retirement plan is a simple way to make an impact and uses assets that would otherwise be heavily taxed.

How it Works

  • Name West Catholic as a beneficiary of your IRA, 401(k) or other qualified plan.
  • You may designate West Catholic to receive all or a portion of the balance of your plan through the plan administrator.

Benefits

  • Avoid the double taxation retirement savings would incur if designated to heir(s) as       beneficiary(ies).
  • Continue to take regular lifetime withdrawals.
  • You may revoke beneficiary if needs change.

Charitable Trusts

Trusts are particularly flexible tools used in charitable planning and may be funded with many types of assets.

Charitable Remainder Trust

How it Works

  • Transfer cash, securities or other property into a trust.
  • The trust pays a percentage of the value of its principal, which is valued annually, to you or your named beneficiary(ies).
  • When the trust terminates, the remainder passes to West Catholic.

Benefits

  • You receive income for life or a term of years in return for the gift.
  • You receive an immediate income tax deduction for a portion of the contribution.
  • You pay no upfront capital gains tax on appreciated assets contributed.
  • You can make additional gifts as circumstances allow for additional income and tax benefits.
Charitable Lead Trust

How it Works

  • Contribute securities or other assets to a charitable lead trust.
  • The trust makes fixed annual payments to West Catholic for a period of time.
  • When the trust terminates, the remaining principal is paid to your heirs.

Benefits

  • Payments to West Catholic for a term reduces the ultimate tax cost of transferring assets to heirs.
  • The amount and term of the payments can be set in order to reduce or even eliminate transfer taxes due when the principal reverts to heirs.
  • All appreciation that takes place in the trust goes tax-free to the individuals named in trust.

Life Insurance

Give a gift from your Life Insurance and you’ll receive an immediate income tax deduction for the cash surrender value and make a significant gift without adversely affecting your cash flow. Or, ask your provider to name West Catholic as the beneficiary of your plan. This designation can be changed at any time.


Charitable Gift Annuities

Gift annuities are contracts with nonprofit organizations. Like commercial annuities, you’ll receive dependable, fixed income for life in return for the amount of your gift. You’ll also receive an immediate tax deduction and ongoing tax benefits.


Real Estate

You can contribute an entire property or a fractional interest in real estate to West Catholic. Gifts of real estate are subject to a review and approval prior to acceptance. If you are contemplating a real estate gift, you may consider an outright gift or Life Estate. A Life Estate allows you to make a gift now while retaining use of the property for life.

Some of the greatest opportunities to make significant charitable contributions occur as you are making other major business, personal, and financial decisions. In each of these situations, planned giving represents an opportunity to include West Catholic in the overall plan for achieving important business and personal goals.


What to Give

Every gift, no matter the size, makes an impact. When you’re making your financial plan, please consider using these assets to contribute to our mission.

  • Cash
  • Publically Traded Securities
  • Mutual Funds
  • Closely Held Stock
  • Real Estate
  • Gifts of Oil, Mineral, Royalty Interests and Intellectual Property Rights
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