Ways to Give
Assuring the future of Sacred Heart requires generous contributions in many forms. In addition to cash contributions, there are several other ways to make a charitable gift.
Following are brief descriptions of the different options available for making such gifts. Tax benefits may be derived from each option, so donors should tailor gifts to their specific interests and within their individual financial context. Please note that the information is not intended to provide financial or tax guidance, which individuals must seek from their personal financial advisors.
- Matching Gifts
- Deferred Gifts and Bequests
- Life Income Gifts
- Life Insurance
- Qualified Retirement Plans
- Real Estate
Sacred Heart will accept contributions of publicly traded stock, and, in most cases, stock in a closely held corporation, as well as improved or unimproved real estate. By donating gifts of appreciated stock, donors can generally deduct the current fair market value of such property and not pay tax on all the appreciation. For information about gifts of stock, please contact Amanda De Vito at firstname.lastname@example.org or at 212-722-4745, x. 124.
Deferred gifts are trust funds from which income may be paid to the donor during his or her lifetime, with the principal going to Sacred Heart after the donor’s death. A bequest is a gift made under a will, directing that a specific amount or percentage of a donor’s estate, or specific assets, such as stock, real estate or tangible personal property within the estate, be paid to Sacred Heart. Bequests can be restricted to benefit a particular program or unrestricted to cover general needs. They also can be written so that the school is primary or a secondary beneficiary after all other bequests and expenses have been paid.
Donors may enjoy full tax benefits for such contributions, enhancing their own financial situation even as they make a lasting contribution to Sacred Heart. Bequests, expressed either as a specific amount or as a percentage of an estate, may count toward the campaign in certain situations.
All donors who indicate that The Convent of the Sacred Heart is part of estate plans become members of The Acorn Society. Because the name Duchesne means oak, that tree has symbolized Saint Philippine Duchesne’s spirit strength and courage. To honor St. Philippine’s vision of Sacred Heart education in the new world, the acorn is the symbol of those members of the community whose generosity and foresight provide for the future of 91st Street through a will or bequest. Members of the Acorn Society assure the continuation of the vision of St. Philippine into the future.
Commercial property, a personal residence or other real estate assets can be given to Sacred Heart, allowing the donor to realize a tax deduction, avoid capital gains tax, and even retain lifetime occupancy. A gift of appreciated real property, free of debt and owned for more than one year, can provide the donor with a tax deduction. By donating real estate instead of selling it, donors may also save state and local transfer taxes.
For questions about making any kind of planned gift to Sacred Heart, please contact Craig MacPherson at email@example.com or at 212-722-4745, ext. 107.
I teach because I want to be part of an intellectual force that encourages students to be the best of what they are in the present. The learning environment at Sacred Heart encourages each student to express and develop her unique talents on the journey toward self-realization. Sacred Heart nurtures the mind, the spirit and the heart."Mariann DeAngelis
Upper School History Teacher