A planned gift is a contribution that is arranged in the present and received by the Academy at a future date. Commonly donated through a Will or trust, planned gifts are most often granted once the donor has passed away.
Planned giving allows people to give from their assets, not just from their income. Therefore, planned giving allows people to make larger gifts than they dreamed possible, and in ways they may have never considered. It can involve trusts or charitable gift annuities, but the majority of planned gifts are simple bequests that one leaves in their will.
A bequest is a gift of assets (money and/or other property) that is made through your Will or Living Trust. No funds are transferred to the designated charity until after your death. No estate tax will be owed on the amount of the charitable bequest.
As you consult your attorney about your philanthropic plans, consider the suggested bequest language below as appropriate wording to reflect your intentions:
I give, devise, and bequeath to Saint John Paul II Catholic Academy, EIN 26-2607406, with regional offices at 1 Eliot Street, Milton MA 02186, (insert dollar amount) Dollars to be used for its general purposes.
Most donors leave their gifts without restriction, however you may designate your future donation to one of the campuses or academic programs and your stated intent for the use of a gift will be honored.
Many of the planned gifts intended for Saint John Paul II Catholic Academy may be processed through the Archdiocese of Boston. Contact Chief Development Officer Mary Tiernan at firstname.lastname@example.org for details.