The Teresa of Avila Society is a recognition society that acknowledges parents, alumnae, parents of alumnae, grandparents, and friends of St. Teresa's Academy who have expressed their commitment to our school by naming STA as a beneficiary of a planned gift or bequest. Planned gifts include designating St. Teresa's Academy in your will, forming a charitable trust, or purchasing a gift annuity. These gifts can provide great tax savings for you and help ensure that future generations will benefit from the St. Teresa's educational experience.
For questions or additional information, please contact Nan Bone, President, at firstname.lastname@example.org or 816.501.0011, ext. 121.
IRA Contribution (no tax consequence)
This provision allows individual taxpayers aged 70 1/2 and older to make a charitable contribution up to $100,000 to St. Teresa's Academy from their Individual Retirement Accounts (IRAs) directly to St. Teresa's Academy with NO tax bill.
Making a gift of appreciated stock is one of the most advantageous forms of giving for tax reasons. You can write off the value of the stock as a gift, plus avoid capital gains tax. The gift is valued as the sale price of the stock upon trade.
Gifts of appreciated real estate/property are similar to gifts of appreciated stock. If you have owned the real estate/property for 12 months or more, you will avoid capital gains taxes and deduct the fair market value of the real estate/property. The gift is valued as the fair-market value of the asset.
Charitable Remainder Trusts
These types of trusts are funded with an asset, such as appreciated property or securities, and the earnings are paid as income to you and your beneficiaries. Upon the death of the last beneficiary, the principal goes to St. Teresa's Academy. In addition, you may amend a 401(k) or IRA to include St. Teresa's as beneficiary. The gift is valued as the total amount of the principal.
Charitable Lead Trusts
Charitable Lead Trusts are funded with an asset, such as appreciated property or securities, and the earnings are contributed to St. Teresa's for the life of the trust. When the trust reaches its termination date, the principal goes to your beneficiaries. The gift is valued as the total of the earnings contributed from the creation of the trust to the termination.
Bequests may be made through your will. They may include a specific dollar amount or a percentage of your estate. The gift is valued as the fair-market value of the assets.
You may donate by making St. Teresa's Academy the owner and beneficiary of your insurance policy. The premiums on a donated policy are also deductible. If you are finished paying for the gifted policy, your gift is the replacement value or the cost basis of the policy, whichever is less. You may also donate a life insurance policy on which you are still making premium payments. The gift is valued as the total sum of the premiums.