Cash. This is the simplest way to support Scotus Central Catholic. For tax purposes, your check or cash contribution is considered to be complete on the date it is received or the date it was postmarked if mailed. Scotus will provide a letter of receipt for all contributions of $250 or more and for smaller contributions at the request of the donor. As with any gift, the donor may restrict the donation’s use for a specific purpose or allow the school to decide how it should best be used to support the Catholic education of our students.

Stocks and other Securities. Gifts of stocks, bonds and mutual fund shares often provide a more attractive tax benefit to the donor than a gift of cash. By gifting a stock or security that has appreciated in value (from the time it was purchased) you not only may be able to deduct the value of your charitable contribution but you will also avoid paying the capital gains tax on the security. By gifting a stock that has depreciated in value you may be able to deduct both the value of your gift and the loss. Gifting of stocks and other securities also removes it from your estate and possibly providing a savings in estate taxes.

Your gift of stock can be made electronically through your personal broker to Scotus Central Catholic (our legal name is Scotus Central Catholic Secondary School of Columbus, Nebraska.) At your request the development office will provide our account number and broker’s name, address and DTC number. The value of your gift is computed using the average of the high and low market prices on the date of transfer. If you have an actual stock certificate you wish to donate, contact the Scotus development office for instructions concerning how to make your donation (402) 564-7165.

Matching Gifts. An easy way to possibly double the value of your donation is to ask your company if it provides a matching gift for your donation to Scotus. Literally hundreds of companies provide a matching gift program as a benefit to their employees and retirees—check with your company’s human relations office for more information.

Bequest in your Will. By naming Scotus as a beneficiary of your will you can enjoy the knowledge that you have contributed to the school and that you have helped to preserve Scotus’ future financial security. Consider making Scotus an “additional child” or stipulate that you would like to donate a particular asset or perhaps state that you would like to give Scotus a percentage of your estate (i.e. 5%). The beauty of wills is that they can be changed at any time. If you would like to add Scotus as a beneficiary in your will all you need is to prepare a simple addition called a codicil. See your attorney for more information and use the school’s legal name in all documents: Scotus Central Catholic Secondary School of Columbus, Nebraska.

Life Insurance. There are several different ways to give through life insurance: 1) you can name Scotus Central Catholic as a sole or co-beneficiary of a policy, 2) if you have a paid up policy that you no longer need you can name Scotus Central Catholic as the policy owner and beneficiary (you will receive a charitable deduction by doing this) and 3) you can start a new policy, name Scotus as the owner and receive a tax deduction for the full value of the premium payments you make each year. Contact the Scotus Development Office for more information.

Charitable Trusts. Charitable Remainder and Charitable Lead trusts are prepared through your attorney and allow you to transfer cash, securities, real estate or other property to the trust. During the term, the trust either pays a variable or fixed income to you or to your beneficiaries and when the trust ends the remaining principal goes to Scotus Central Catholic. This provides a charitable income tax deduction and estate tax savings, a stream of income to the beneficiaries and it could provide a savings on capital gains taxes. In a Lead Unitrust, cash or other assets are transferred to the trust which then pays a percentage of the trust’s value to Scotus over the term. When the period of the trust ends the remaining assets go to the beneficiaries that you have named. By consulting a qualified professional to set up a trust, you can manage assets effectively and enjoy the comfort of knowing that you have provided for Scotus’ current or future needs.

Gift Annuities. Through your gift of cash, securities, tangible property, etc. to Scotus an annuity can be set up to provide you a fixed income sum each year for the rest of your life. Annual income percentages are based upon your age at the time the annuity is set up and you will benefit from a tax deduction for your contribution to Scotus. When the annuity ends the remaining principal is transferred to Scotus.

Real Estate. For your donation to Scotus you will receive an income tax deduction for the fair market value of your property, avoid the expense of a sales commission and your donation may provide several financial advantages including avoiding capital gains taxes. You can donate your home to Scotus and retain the use of the home for life through what is called the retained life estate. You will still receive a charitable income tax deduction and retain the full use of the property during your life. At the conclusion of your estate Scotus is then free to either use the home or sell the property. If you own property that does not provide current income you could create a charitable trust with the property as the asset and avoid capital gains (or take a deduction for the loss if the property has lost value) and in addition receive a steady stream of income in accordance with the terms of the trust.

Retirement Plan Assets. Assets that you have accumulated in your Individual Retirement Account or other tax-deferred plan are subject to both income taxes when they are withdrawn and to estate taxes. By naming Scotus as the remainder beneficiary of your tax-deferred savings plan, you will avoid both income and estate taxes.

Direct IRA Gifts to Charity Are Still Possible!

As a result of the Emergency Economic Stabilization Act of 2008, which extends the Pension Protection Act of 2006, individuals who are 70 ½ years or older can donate money from their IRA to a qualified charity without claiming any increased income or paying any additional tax. These tax-free rollover gifts could be $1,000, $10,000 or up to $100,000 in one year. What a wonderful way to support your school, Scotus Central Catholic!

• Make a contribution of up to $100,000
• Avoid receiving the required distribution as annual income
• Avoid paying income taxes on the required distribution
• Donations can be made in calendar years 2008 and 2009
• If your spouse is 70 ½ years or older and also has an IRA, he or she can also
donate up to $100,000 per year • Note: no charitable tax deduction is allowed for the amount contributed

Think of the possibilities! Your contribution could:

• Make a major contribution to Scotus Central Catholic
• Start an endowed fund in your family’s name
• Pay your Legacy Capital Campaign pledge commitment

IMPORTANT NOTE

You must have your IRA distribution directly transferred to Scotus from your IRA administrator.

It is also important to let Scotus Central Catholic know in advance that you are making a donation through your IRA because the donation check from your broker or fund manager may often not include any reference to your name!

If You Are Younger Than 70 ½ You can still make future gifts of your IRA to Scotus Central Catholic:

1) Designate Scotus Central Catholic as the eventual beneficiary of all or a portion of your IRA. Example: if you have three children, consider making Scotus your fourth “child” and divide your IRA four ways.

2) You can establish a charitable remainder trust as the beneficiary of your IRA upon your death. Your trust can provide income to your spouse, children or grandchildren for a period of years and then it could be distributed to Scotus Central Catholic.

Note: our legal name is: Scotus Central Catholic Secondary School of Columbus, Nebraska

Always consult your qualified tax advisor to learn more about these and other charitable giving options!

Note: This information is not intended to be and should not be considered as legal advice. It is important that you consult with your attorney or qualified advisor before making a donation to charity or any decision about your estate.