Saint Charles Borromeo Seminary offers a number of gift opportunities to assist your financial planning. You can support the Seminary through Gifts of Cash (Visa, Mastercard, and Discover credit cards accepted), Securities, Life Insurance, Retirement Plans, Life Income Gifts (Charitable Gift Annuities, Charitable Remainder Trusts), and Bequests.
Installment payments for gifts of $2,500 and above can be arranged by contacting the Office for Institutional Advancement. Your gift helps the Seminary to form the men who will teach, sanctify, and shepherd the People of God as Christ's future Priests.
Giving Securities and Real Estate
A gift of appreciated securities or real estate provides substantial support to the Seminary and is one of the most tax-wise ways of giving. Gifts of appreciated stocks, bonds, mutual funds, or securities, which you have owned for over a year, may be deducted at the full fair market value, no matter how much you originally paid for it. You also bypass all of the capital gains taxes that would otherwise be due on a sale of securities. The same benefits apply to gifts of real estate.
Giving through Your Will
By naming St. Charles Seminary in your Will, you can make the gift of a lifetime to our future Priests and your estate may benefit from reduced estate taxes. There are many ways to make a gift or "bequest" in your Will including: Giving a Specific Amount, Giving Specific Property, Giving a Percentage of Your Estate, and Giving all or a part of "what's left" -- "the residue." Choosing the right one for you may depend on a number of factors including your assets and your family considerations.
Giving through Life Income Plans
If you would like to make a significant gift to St. Charles Seminary, but you need the income generated by your assets, consider one of the following life-income gifts - the gift that pays you back.
Giving through Gift Annuities
How the Charitable Gift Annuity works:
1. You transfer cash or securities to the Seminary.
2. You receive an income tax deduction and may save capital gains tax.
3. The Seminary pays a fixed amount each year to you or to anyone you name for life. Typically, a portion of these payments is tax-free.
4. When the gift annuity ends, its remaining principal passes to the Seminary.
Giving through Charitable Remainder Trusts
Charitable Remainder Trusts are gift plans defined by federal tax law that allow you to provide income to yourself or others for life or for a term of years while making a generous gift to St. Charles Seminary.
Charitable Remainder Annuity Trusts
You transfer cash, securities, or other property to a trust. You receive an income tax deduction and pay no capital gains tax. During its term, the trust pays a fixed amount each year to you or to anyone you name. When the trust ends, its remaining principal passes to the Seminary.
Charitable Remainder Unitrusts
You transfer cash, securities, or other property to a trust. You receive an income tax deduction and pay no capital gains tax. During its term, the trust pays a percentage of its value each year to you or to anyone you name. When the trust ends, the remaining principal passes to the Seminary.
Giving through Life Insurance
A gift of a life insurance policy may offer a simple way to support St. Charles Seminary, especially if your family no longer needs the policy for financial security after your death. You can make a gift of life insurance by making the Seminary an owner of an existing policy or by making the Seminary an owner of a new policy. If the policy is paid up, your charitable contribution is generally the replacement value or your cost basis, whichever is less. If the policy is not paid up, your additional premiums may also qualify for charitable deductions.
A Word about Estate and Tax Planning
The information on this site is informative, but is not intended as legal or tax advice for your specific situation. We encourage you to share this information with your attorney or tax advisor. If you have any questions about these gift plans or would like additional information, please call the Office for Institutional Advancement at 610-785-6231.
For more information on effective gift planning please contact:
David Osbourne
Director of Development
The Office for Institutional Advancement
Saint Charles Borromeo Seminary, Overbrook
100 East Wynnewood Road
Wynnewood, PA 19096
Phone: 610.785.6231
Fax: 610.617.8737
developmentscs@adphila.org
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