A planned gift is one way to strategize for the future, manage your affairs, and make a gift to Padua Franciscan High School. It usually requires more thought and foresight than the average donation. Here are a few stories about our donors and why they chose to give. Listed on this page are the most common types of planned gifts. Everyone’s financial situation is unique. Therefore, we recommend that you contact your financial advisor or attorney for information regarding the most favorable option for you. Future commitments of $25,000 or more qualify the donor for membership in The Friar Club at Padua Franciscan High School.
Your gift of cash provides immediate tax savings for you through charitable deductions. The establishment of a named fund in the Endowment Trust of Padua Franciscan High School, is an excellent way make a difference in the life of our students. Your gift will be invested, and over time, it will provide Padua with an ever-increasing and permanent source of financial assistance to students. Named funds can be established with a minimum gift of $10,000 and honor a deceased loved one, a family, a teacher, or a classmate. They are lasting tributes to those so honored, and their names and legacies will live on at Padua Franciscan in perpetuity.
The purpose of having a will is to distribute your property to whoever you wish at the time of your death. It is the legal way to provide for your heirs, and the causes and organizations that you care about. The importance of having a will cannot be overstated. Seven out of every ten individuals die without a will, which means your estate will be distributed by statute (ORC 2105.06). A bequest is a simple directive that is included or added to your will. You can include Padua Franciscan in your will either by using a fractional share (% of the estate) or a certain sum ($ amount specified). Remembering Padua in your will is an effective way of ensuring that the mission of the school will continue for future generations of young men and women.
Charitable Gift Annuity
Often referred to as a CGA, this is a simple contract between you and Padua Franciscan. It is a way for you to make a gift to the school, and in return receive a specified lifetime income. You can secure steady quarterly payments for yourself or others while providing Padua with the means necessary to provide financial assistance to our students. The gift can be established with cash, securities, or property, and the assets of the institution back our ability to pay you for life. When you fund a gift annuity, you are eligible for a significant charitable deduction for the amount that Padua is expected to receive in the future.
Charitable Remainder Trust
A CRT provides income for yourself while making a gift to Padua Franciscan. You establish the trust during your lifetime, receive a charitable tax deduction, and the remaining amount goes to Padua at the time of your death.
Charitable Lead Trust
In a Lead Trust, Padua benefits immediately, and you and your beneficiaries receive the remainder of the trust’s assets.
This is a simple and low cost method of providing for Padua’s future. A life insurance policy which names Padua Franciscan High School as the beneficiary can have a major impact on future generations of students.
Gifts of valuable artwork, furniture, jewelry, antiques, rare books and manuscripts can increase the school’s educational resources in many ways.
You can offer real estate as an immediate gift or to fund a trust. You can decide to remain in your home after making your gift, thereby gaining a tax deduction and eliminating property taxes while still enjoying the comforts of home.
For more information about planned giving at Padua Franciscan High School please contact:
Tom Harkness in the Office of Advancement at 440-845-8224 or firstname.lastname@example.org.