Planned Giving & Gifts of Securities
Tuition alone does not cover the cost of an education at Austin Preparatory School. It takes the sacrifices of many individuals, both family and friends, to provide the type of learning environment that people have come to expect of Austin. Now you can help a new generation to enjoy the benefits of a Catholic education by including Austin in your financial and estate planning. Moreover, federal income, estate, and gift tax laws encourage charitable giving by allowing substantial deductions. Your personal tax advisor can indicate how your gift to Austin can best meet your financial planning needs.
You can make an outright gift of cash, securities, real estate or personal property. If your total deductions exceed your maximum permitted federal deductions for one year, you can claim the excess as deductions on your federal tax returns in the five subsequent years.
The full amount of a cash gift up to 50 percent of your adjusted gross income can be deducted for income tax purposes in the year the gift is made.
Gifts of Appreciated Securities
If you donate appreciated securities to Austin you can avoid capital gains taxes on the difference between the price you paid for the securities and their current market value as of the date the gift is made. Income tax deductions are also allowed.
Here are the DTC delivery instructions:
Austin Preparatory School
101 Willow Street, Reading, MA 01867
Charles Schwab, Acct. # 1246-2268; DTC Clearing # 0164
The web site is www.schwab.com; the telephone number is 1-800-435-9050
Gifts of Real Estate
If you make a gift of property to Austin, you will be credited with a contribution valued at the fair market value of the real estate, which is ordinarily ascertained by a real estate appraiser.
You may choose to name Austin as the recipient of a major gift in the future. Such deferred gifts can be tailored to your personal circumstances while helping you achieve important reductions in your current personal income taxes and estate taxes. Some deferred giving methods include:
- Life Insurance: There are several ways to use life insurance to mutually benefit Austin and yourself. These include making Austin the sole or co-beneficiary of a new or existing policy. Income tax and estate tax benefits are also available through insurance gifts to Austin.
- Bequests: Gifts by will, whether in the form of cash, securities or other property, may be fully deducted in determining federal estate taxes and inheritance taxes.
If you would like additional information on these methods of charitable giving to Austin Preparatory School, please call (781) 944-4900 x817.