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lifetime of blessings. The gift you give also estab-
lishes a lasting legacy of love for children by enab-
ling our School to perpetuate the preservation and
expansion of our Catholic heritage through the
students attending St. Andrew Catholic School.
Simple bequests can easily be included in a per-
son's will. If a will has already been written, a
codicil allows for a new provision to be added.
The following legal wording is sufficient for leaving a
gift through a bequest.
"I bequeath the sum of $_____ or _____% of the
residue of my estate for the benefit of Saint
Andrew Catholic School located at 1509 SE
27th Street, Cape Coral, Florida 33904."
A bequest can be further directed according to the
donors wishes. Gifts restricted for a specific cause
must be clearly stated. If the language of the be-
quest in the will is unclear, it shall be studied by
a panel consisting of our Pastor Fr. Mark Heuberger,
our Principal Sister ..... and the Saint Andrew
School Board for an interpretation of the donor’s
intentions.
Directed Gifts
Unrestricted gifts given to Saint Andrew Catholic
School can be used for the benefit of the school at
the discretion of our pastor Fr. Mark Heuberger.
Such gifts may be used for capital improvements,
payment of debts and assessments, or for other
uses that would serve as a benefit to Saint Andrew
Catholic School.
Endowments
Gifts intended to endow Saint Andrew Catholic
School shall be placed and managed through the
Catholic Community Foundation for Southwest
Florida, Inc. for the benefit of our school according
to the wishes of the donor.
Charitable Gift Annuity
This is a great way for you to make a meaningful gift
that helps our School in the future and immediately
pays you a guaranteed income stream for the re-
mainder of your life – usually at a much higher rate
than what you might earn through dividends, CD’s or
a savings account. In addition, you will probably be
eligible to receive an income tax deduction that can
be taken in the year the gift is made. A portion of
your annual income is also tax-free.
How does it work?
You contribute a gift in the form of a check or by
transferring an asset such as stocks or land to the
Diocese. In return, the Diocese guarantees to pay
you a fixed payment based on your current age.
The funds you give are invested to generate a return
sufficient to pay the annuity. Please write or email
us for an illustration of the returns that can be
generated. Returns are established by the American
Council of Gift Annuities.
How do I obtain a confidential, no-obligation
illustration that provides my rate of return and
other benefits?
Simply send an email now to the Dr. Patti van der
Have, Director of Development for St. Andrew
School, at pvanderhave@standrewcs.org, or call
her directly at 239-458-7609. She or another staff
member will get back to you as soon as possible.
How do I benefit?
You receive a guaranteed fixed income payment for
your entire life. You can also establish a two life
Charitable Gift Annuity, calculated at somewhat
lower rates, which provides a guaranteed fixed
income payment for the entire life of you and your
spouse. You are eligible for an immediate tax
deduction based on a portion of your total contri-
bution as a benefit for the future gift of whatever
principal amount remains in the annuity after your
death. Please consult with a tax advisor.
Additionally, a portion of the income returned to you
will be non-taxable since it includes a partial return
of your principle.
How does the School benefit?
After your death (and the death of your spouse in
the case of a two life gift annuity), the remainder is
distributed as you designate to the school for the
purpose you determined when the gift annuity was
written. You could decide that the remainder be
placed into the school’s endowment or that it be
used for tuition assistance at our school.
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insurance is best described as a bequest at a dis-
counted cost on an installment plan.
There are several possible plans:
- Donate an existing paid-up policy: Name St.
Andrew Catholic School as the permanent
owner and beneficiary of the policy. You can
deduct the "terminal interest reserve" (IRS
language that means "approximately the cash
surrender value") as a charitable contribution
for income tax purposes.
- Purchase a new policy: St. Andrew Catholic
School can be applicant, owner and bene-
ficiary of the policy. You make annual con-
tributions to the designee that equal the
premium cost. The designee then pays the
premium. Your annual contributions are
charitable contributions for income tax
purposes.
- Name St. Andrew Catholic School beneficiary;
retain the other rights of ownership: While you
receive no income tax benefit, the designee
ultimately receives the death benefit, and,
while the insurance benefits will be included
in your estate, your estate will be entitled to
an estate tax charitable deduction for that
amount.
- Name St. Andrew Catholic School as con-
tingent beneficiary: We receive funds should
your primary beneficiary die before you do.
Charitable Lead Trust
A charitable lead trust likewise creates two interests,
one for you and one for St. Andrew Catholic School.
The School receives interest in income from the trust
for a term of years. You may direct the use of this
interest. Yours is the remainder interest in the
assets when the trust terminates; often the assets
are distributed to your children or grandchildren.
Charitable lead trusts can be effective planning tool
for persons whose estates will be subject to the
highest estate tax rates.
Charitable Remainder Trust
A charitable remainder trust creates two interests,
one for you and one for St. Andrew Catholic School.
Yours is the present interest - the right to future
income for life or for a set number of years. Saint
Andrew School receives the remainder interest or
the right to receive the assets in the trust when it
terminates.
Many people would like to make a major gift to our
school during their lifetime, but cannot afford to give
up future income. By creating a charitable remainder
trust with the school and placing assets into it, you
can often increase your income and receive that
income for a life (or lives) or term of years. While the
trust exists, the assets in it are invested to provide
income to you. Only when the trust terminates are
the assets distributed to Saint Andrew Catholic
School.
Charitable remainder trusts provide flexibility for you
to accomplish specific personal objectives while
ultimately helping our School. Among the personal
objectives could be increasing the income you
receive from your assets, providing your spouse with
an income for life, providing funds for your child's or
grandchild’s education, or funds for your retirement
to supplement your other retirement programs.
There are two kinds of charitable remainder trusts:
one provides variable income (charitable remainder
unitrust) and the other provides fixed income
(charitable remainder annuity trust).
Charitable remainder trusts are irrevocable; once you
establish one, you cannot cancel it and receive your
property back.
Some advantages of charitable remainder trusts
include:
- You can help St. Andrew Catholic School
continue to educate our youth in a Christian
environment.
- Often, higher income for you from appreciated,
long-term assets (owned more than one year)
than the income you now receive from those
assets.
- Avoiding the reduction of appreciated, long
term assets (owned more than one year)
through capital gains tax. The entire value of
the assets continues to work for you.
- An income tax charitable deduction for a
portion of the value of the assets placed into
the trust. This provides real tax savings now.
- The opportunity for tax-free income when the
trust is funded with cash or municipal bonds.
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