TYPES OF PLANNED GIFTS

There are numerous types of planned gifts that can be arranged with the Foundation including charitable gift annuities, deferred gift annuities, bequests, and life insurance, as well as transferring assets of real and appreciated property. The Foundation is happy to provide you with a professional to assist you with determining the best strategy for each individual. Some planned gift options include:

  • Charitable Gift Annuities

    Payments to donors begin as soon as the gift is made, and donors receive immediate tax deductions.

  • Deferred Gift Annuities

    The donor has flexibility in determining the start date of payments. For example, if the gift is made at age 50, the donor may choose the starting date of the payments anytime between the ages of 55 and 80. Charitable deductions are available immediately.

  • Bequests

    The donor names the Foundation as the remainder beneficiary of their estate, or makes a specific bequest in a stated amount or percentage, The donor can designate how the donor would like the funds used, i.e., financial aid, endowment, construction, etc. Please use the following sample language when you create a bequest for the Notre Dame School Foundation. If you want your bequest to benefit a specific purpose, simply add the name of the program to the bequest language in lieu of the words “general purposes” below.
    "I give and bequeath to the Notre Dame School Foundation of Long Beach, Indiana, Inc., an Indiana not-for-profit corporation located in Michigan City, Indiana _____________ percent (______%) of my estate; OR, all the rest of my property, real and personal, to be applied to the general purposes of the school."

  • Life Insurance Policies

    A benefactor can donate paid-up life insurance policies or pay premiums on a new policy that designates the Foundation as owner or beneficiary. The proper designation of life insurance is "the Notre Dame School Foundation of Long Beach, Indiana, Inc., an Indiana not-for-profit corporation located in Michigan City, Indiana."

  • Real Estate

    Donors can use various methods to donate appreciated real estate to the Foundation. Please contact the Foundation to learn more about how you can assist our students through a gift of real estate.

  • Retirement Plans/IRAs/401(k)s

    Retirement plans offer a unique opportunity for gifting. Depending on the donor, the tax liability on a retirement plan may be as much as 80%. The retirement plan could be donated to a qualified charity and avoid the 80% tax while gifting 100% to the charity. In order to donate a retirement plan to the Foundation, please designate the beneficiary of the plan as "the Notre Dame School Foundation of Long Beach, Indiana, Inc., an Indiana not-for-profit corporation located in Michigan City, Indiana."

** Please note that proper tax planning requires the involvement of your attorneys and/or accountants. Any changes to your plan should be reviewed by a professional. If you do not have a professional, please contact the Foundation and we will be happy to provide you with one.