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:
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Charitable Gift Annuities
Payments to donors begin as soon as the gift is made, and donors receive immediate
tax deductions.
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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.
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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."
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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."
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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.
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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.
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