A “planned gift” is a gift given to a charity through a will, contract or trust. It is often deferred and usually spread out over an extended period of time.
Popular examples of Planned Gifts include bequests of money, stocks or tangible possessions; as well as insurance policies and Charitable Gift Annuities.
Outright cash gifts are the most common form of giving to Bishop Ludden. Your gift becomes immediately available to support the daily operations and unrestricted giving to Bishop Ludden. The diocese accepts cash, checks, credit cards, debit cards and on-line donations. The donor will be credited with the full amount of his or her cash gift - which may by tax deductible.
Memorial and Tribute Giving
Gifts in memory of deceased friends and loved ones or gifts that honor living individuals are gratefully accepted by Bishop Ludden. Such contributions are often used to reflect the special interests of the person honored. Any gift to Bishop Ludden may be designated in memory of or in honor of a loved one.
Gifts of Appreciated Securities
If you own long-term securities that have appreciated in value, you may prefer to contribute securities to Bishop Ludden rather than cash. In this way, there may be both capital gains and tax deduction benefits.
Charitable Remainder Trusts
Charitable trusts can result in significant support for the work of Bishop Ludden, while also securing your financial future and reducing taxes for you and your heirs. Through a charitable remainder trust, you can provide income for yourself or a loved one and benefit the School as well. You specify the amount of payments to be distributed (at least 5% per year), to whom payments are to be paid, the duration of payments (a period of years or the beneficiary's lifetime) and the charity that will receive the remainder. The trust may be set up for the lives of the beneficiaries or for a term of up to 20 years.
Charitable Gift Annuities
A charitable gift annuity is a simple life income agreement between a donor and Bishop Ludden. In exchange for your gift of cash or negotiable securities only, you receive fixed payments for your lifetime and/or the lifetime of another person. You may be entitled to a partial tax deduction in the year of the gift, and a portion of each payment is tax-free for a period of years as well. The size of the payments is based on the amount of the gift and the annuitant's age. Gift annuity plans start at $10,000, and are restricted to donors 65 years and older.
Gifts of Life Insurance
Life insurance may be an especially attractive gift vehicle if you own a policy that is no longer needed for its original purpose. In addition, those who qualify for low-cost premiums may find it more affordable and convenient to plan a significant gift to Bishop Ludden using life insurance. By naming Bishop Ludden as the owner and beneficiary of a life insurance policy, the donor may be entitled to an immediate tax deduction for the accumulated cash value of the policy (if any) and a future deduction for any subsequent premiums that he or she pays.