MAKE A PLANNED GIFT:
Donors have an opportunity to leave a legacy that will change the lives of Hill students forever. Planned giving is a meaningful way to support present and future Hill students, while providing a way for your legacy to live on through their achievements. If you have previously provided for St. Joseph Hill Academy in your will or trust, we would like to know of your generosity. Please take a moment to call us at 718-447-1374 Ext. 9163 or email email@example.com and we will enroll you as a member of The Summum Bonum Society.
The Summum Bonum Society:
The Summum Bonum Society is a special group of alumni, parents, faculty and friends of St. Joseph Hill Academy who have recognized the importance of philanthropic planning, and who have provided for St. Joseph Hill Academy in their wills and through other planned giving arrangements.
Ways to Join:
- Include a bequest in your will to St. Joseph Hill Academy
- Name St. Joseph Hill Academy as beneficiary of a life insurance policy or IRA
- Include St. Joseph Hill Academy as a beneficiary of your Minimum Required Distribution (MRD)
- Provide for St. Joseph Hill Academy in your Estate Planning
Benefits of Membership:
The most important benefit you will receive from joining the Summum Bonum Society is the satisfaction derived from making a lasting contribution to St. Joseph Hill Academy’s long-term prosperity. Your membership does not involve dues, obligations or solicitations, but it allows us to thank you and recognize the plans you have made, while possibly inspiring generosity in others.
Benefits of membership in the Summum Bonum Society also include:
- Recognition as a Summum Bonum Society member in school publications and on our website (with your permission)
- Invitation to an Annual Mass and Luncheon
- Exclusive invitations to special school events
- Presentation of a Summum Bonum Society certificate
To find out how you can support St. Joseph Hill Academy and join the Summum Bonum Society, please contact:
Elizabeth Basile, Ed.D. Director of Development
718-447-1374 Ext. 9163
MINIMUM REQUIRED DISTRIBUTION:
IMPORTANT INFORMATION ABOUT YOUR MINIMUM REQUIRED DISTRIBUTION
Did you know … You can contribute to charities directly from your IRA—without paying federal income tax on the amount you give. If you reached the age of 70½ on or before December 31, 2019, you can use your gift to satisfy all or part of your required minimum distribution for the year. If you turn 70½ on or after January 1, 2020, you can use your gift to satisfy all or part of your required minimum distribution starting at the age of 72. (Note: The RMD requirement has been waived for 2020, per the CARES Act signed into law on March 27, 2020.)
As a longtime and generous supporter of St. Joseph Hill Academy, you stand to benefit greatly from this policy with your next gift!
Here is how it works:
- The amount that you wish to donate to St. Joseph Hill Academy will count toward your MRD but will not be subject to federal income tax.
- The funds must go directly from your IRA to Joseph Hill Academy so you should inform your IRA administrator that you wish to make a “qualified charitable contribution”.
- Your administrator will ask for information about us - just complete and return the required form and we will provide any information you
- Gifts from your IRA can be as small as a few hundred dollars up to $100,000/person. If your spouse also has an IRA, they can make a gift to SJHA in the same way. No matter the size of your gift, you will be making a direct and meaningful impact on our students’ lives!
SAMPLE GIFT LANGUAGE FOR YOUR WILL OR TRUST:
A gift to St. Joseph Hill Academy in your will or trust enables you to support our mission and make a difference in the lives of future generations.
- is easy to arrange.
- will not alter your current lifestyle in any way
- can be easily modified to address your changing needs.
Residual Gift Language:
A residual bequest comes to us after your estate expenses and specific bequests are paid:
I give and devise to St. Joseph Hill Academy located in Staten Island, NY, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).
Specific Gift Language:
Naming St. Joseph Hill Academy as a beneficiary of a specific amount from your estate may be stated as follows:
I give and devise to St. Joseph Hill Academy located in Staten Island, NY, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific fund or program).
Contingent Gift Language
St. Joseph Hill Academy can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
If (insert name) is not living at the time of my demise, I give and devise to St. Joseph Hill Academy located in Staten Island, NY, the sum of $_______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund or program)
Retirement Plan Beneficiary Language
You may name St. Joseph Hill Academy as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.
Naming St. Joseph Hill Academy as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Roth, Keogh or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming St. Joseph Hill Academy as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor's death the plan passes to support St. Joseph Hill Academy. Donors should consult with their tax advisor regarding the potential tax benefits of such gifts.
Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change-of-beneficiary form from your plan administrator. When you have finished, please return the form to your plan administrator and notify St. Joseph Hill Academy. We can assist you with the proper language for your beneficiary designation to St. Joseph Hill Academy.
If you or your attorney would like St. Joseph Hill Academy to provide you with customized beneficiary language that is specific to your goals and interests, please contact Dr. Elizabeth Basile, Director of Development at firstname.lastname@example.org, or call 718-447-1374 Ext. 9163.
Don't Delay - contact us today to leave a lasting Legacy at St. Joseph Hill Academy