A planned gift provides an opportunity for you to help shape and sustain the future of St. Pius X Catholic High School. It is an opportunity to make a lasting contribution and build a powerful legacy, and allows you to become a philanthropist – now and forever. St. Pius X has established the Chi-Rho Society to recognize donors who have made provisions for St. Pius X in their financial and estate planning. Each August we honor Chi Rho Society members at the annual Deo Gratias Society Luncheon presented by the Catholic Foundation of North Georgia.
For more information, please contact Director of Advancement Jenn Sedlack.
What are planned gifts?
Planned giving is another way to make a gift to St. Pius X while meeting the long-term needs of your estate planning. Examples of planned gifts may include gifts of cash, securities, tangible property, real estate or life insurance. Gifts may be made through bequests, charitable gift annuities, charitable remainder trusts or charitable lead trusts.
Why make a planned gift?
You can create a plan to care for your family while also leaving a gift to organizations you care about. A planned gift does not have to impact your finances today, and it allows you to leave a lasting mark on St. Pius X. Your commitment to St. Pius X during your lifetime enables the school to plan now for future needs, while ensuring an excellent education for generations to come.
Join the Chi-Rho Society
To become a member of the Chi-Rho Society, simply inform the Office of Advancement in writing that you have named St. Pius X Catholic High School as a beneficiary in your financial or estate plans. Gifts of all types and sizes, large and small, are encouraged.
Those members who have given their permission for us to list their names will be recognized in the St. Pius X Annual Report, thereby allowing other members of the St. Pius X community to acknowledge their support and perhaps to encourage others to follow.
We ask you to consider becoming a member of the Chi-Rho Society. To join, please contact the Director of Advancement.
For More Information
Like other financial decisions, a planned gift must be chosen and shaped with care. St. Pius X welcomes the opportunity to discuss ways to include the school in your financial and estate plans. Call the St. Pius X Director of Advancement for additional information.
Examples of planned gifts:
A bequest is a gift to St. Pius X by will. This is a simple and popular method for remembering the school in perpetuity. You may specify that St. Pius X is to receive a certain dollar amount, a specific percentage of the estate, or a certain asset. If you already have a valid, up-to-date will, your attorney can add St. Pius X as a beneficiary through a simple amendment to your will called a codicil. Bequests of all sizes are encouraged. Please use the following wording when naming St. Pius X Catholic High School in your will: “…Archbishop Wilton D. Gregory and his successors for the exclusive use of St. Pius X Catholic High School, Archdiocese of Atlanta. ”
Life insurance is another way to make a planned gift to St. Pius X. You can purchase a new life insurance policy or contribute all or part of a current policy which you currently own, but no longer need. When St. Pius X Catholic High School is named as the owner and beneficiary of a policy your annual premium payments will be tax deductible. If you give an existing policy, you are generally able to deduct an amount approximately equal to the current cash value of the policy. For a few hundred dollars of premiums a year, you can provide for a $25,000, $50,000 or $100,000 future endowment for St. Pius X.
Charitable Gift Annuity
A charitable gift annuity provides you with fixed income for life in exchange for your charitable gift to St. Pius X. If you are at least 40 years of age, a gift of $5,000 or more in cash, stock, or other liquid assets can be used to fund a gift annuity. The rates of return from St. Pius X’s charitable gift annuity are generally higher than those available from CD’s and passbook savings accounts depending upon your age at the time of your gift. The older you are, the higher the rate of return. Your income payments are distributed to you on a quarterly or other periodic basis. You can start receiving the income immediately or defer it until you retire. Through a charitable gift annuity you can: (1) receive fixed, regular payments; (2) increase your income; (3) take an immediate tax deduction; (4) save taxes on future income; and (5) avoid some capital gains taxes.
Charitable Remainder Trust
The “unitrust” and “annuity trust” generally work like this: you and your attorney create an irrevocable trust agreement, naming a bank or the Archdiocese to serve as trustee. You transfer cash, securities, or other property (generally valued at $100,000 or more) to the trustee. The trustee pays income to you and/or your other designated beneficiaries for life. Thereafter, the trust is distributed to St. Pius X for the particular purpose you originally specified. The income and estate tax advantages can be significant, and may include the avoidance of capital gains taxes. This trust is an especially good vehicle for those who own stock with a low cost basis.
Charitable Lead Trust
The charitable lead trust is a good vehicle for providing income to St. Pius X for a set number of years, with the assets in the trust ultimately passing on to your children or grandchildren. Primarily created by those in the higher estate tax brackets, the trust can pass its assets on to younger generations with little or no estate or gift tax payable.