Building a Solid Infrastructure
Educational institutions have a newfound responsibility to be on the cutting edge of technology in order to give their students the skills to excel in a rapidly changing global environment. As the Information Age continues to flourish, it will be that harmony among technology, advanced teaching and a cultivated ethical sense that consistently distinguishes Trinity High School as the premier Dominican College Preparatory School for young women.
Since 1918, Trinity has prepared young women to meet the challenges of college life and the world. Technology drives our world, and the leaders of tomorrow need to be prepared to solve problems, understand complex terminology and communicate rapidly and effectively. Trinity is preparing young women to become those leaders by incorporating technology into various curricula.
With the dawn of the third Millennium upon us, Trinity must continue to maintain a standard of excellence by keeping current with the innovations of our age and culture, and by focusing on the future. Improvements are necessary to prepare our students to use all aspects of technology required to meet today's information-driven demands...and be equipped to work with those they will encounter tomorrow.
Tax-Wise Giving Opportunities
Gifts of Cash
There is no easier way to garner a charitable deduction - and support us at the same time - than by simply writing a check.
An unrestricted gift gives the administration the freedom to use your contribution where it is needed most. You may, however, choose to restrict your gift to the area of your own particular interest. If you itemize deductions on your income tax return, your gift of cash will be tax deductible.
Matching Gifts
Your employer may have a matching gift program that adds to the value of your gift to Trinity. Simply get a form from your employer, fill out the donor section, and send the form to Trinity.
Gifts of Securities and Other Appreciated Property
Instead of selling stock or other property that has increased in value, you may want to donate it to Trinity and receive two tax benefits.
A gift of stock or other securities, including U.S. savings bonds, may provide the donor with two tax advantages. If, for example, you give Trinity appreciated securities, you may avoid the tax on the appreciation, and in addition you may receive a tax deduction of the fair market value of the gift. Gifts of other appreciated property--such as real estate, art or jewelry-also allow the donor to avoid the capital gains tax that would be due if the property were sold, and to take a tax deduction for the fair market value of the property.
PLANNED GIFTS
Planned gifts allow you to arrange for a donation now that will benefit Trinity at the time of your death. All of these arrangements can have tax benefits, and some can even increase your lifetime income or provide income for your loved ones. Here are some examples.
Charitable Bequest
A bequest is a provision in your will or revocable living trust that names Trinity as the recipient of a fixed sum of money, or a percentage of your assets, or a specific asset. A charitable bequest can eliminate or reduce estate taxes and in some cases income taxes due at death. Bequests are flexible because you may change your mind at any time if circumstances change.
Naming a Beneficiary
You may name Trinity as the beneficiary of an insurance policy, a retirement account, a certificate of deposit or your U.S. savings bonds simply by filling out a beneficiary designation form or a payable-on-death statement. Your assets remain available for your support during life, and at death your estate may be eligible for income tax deductions and a reduction in the estate tax. As with a bequest, if circumstances change, you may change the beneficiary designation.
Arrangements that Provide Income to You or Your Loved Ones
By setting up a special trust or annuity, you can establish an income stream for yourself or your loved ones while benefiting Trinity and reducing taxes. In some cases you can start with a specific amount and continue to make contributions in subsequent years. A charitable remainder trust allows you to fund a trust that provides you or your loved ones with payments over life and give the balance to Trinity. A charitable gift annuity allows you to make a gift to Trinity while retaining a fixed income for your life or the life of a loved one. A charitable lead trust allows you to fund a trust that pays Trinity the income for a certain time, and then returns the trust assets to you or passes them to your heirs. The tax benefits of these arrangements include an immediate tax deduction for the value of the gift to Trinity, as well as potential capital gains, estate and gift tax savings.
To learn how these general guidelines apply to you, consult with your attorney or financial advisor. For ways that Trinity can assist you with your plans, please contact Chris Bollettino, VP of Institutional Advancement, at 708/453-8396 or email cbollettino@trinityhs.org. All inquiries are confidential.
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