Planned Giving

Planned Giving

Planned Giving

Your connection to St. Francis Xavier Catholic School can make a difference for generations to come.

How Can I Create a Legacy?

Whether you are a current parent, grandparent, alumnus, parishioner, or friend of the school, your planned gift can help ensure that the SFX tradition continues for years to come. There are several ways to give:

Hands holding a cross

Unrestricted Gifts

Support the greatest current needs through the Funding Faithful Futures Annual Appeal.

Qualified Charitable Distribution

Give directly from your IRA and satisfy your required minimum distribution, tax free.

Bequests

Name SFX in your will or trust and leave a gift that costs you nothing today.

Beneficiary Designations

Transfer retirement, insurance, and bank accounts directly, avoiding probate.

Stocks and Other Appreciated Assets

Donate appreciated securities and avoid capital gains tax.

Qualified Charitable Distributions

If you are of the age that you have to take a required minimum distribution (RMD) from your IRA, did you know that you can transfer up to $108,000 each year directly to a qualified charity like St. Francis Xavier Catholic School? By rolling over your IRA distribution directly to a qualified charity, it qualifies as your RMD and you avoid having to include the distribution as taxable income. Individuals are required to take RMDs beginning in the year in which they turn 73. Despite the starting age for RMDs being 73, individuals can still make Qualified Charitable Distributions (QCDs) from their IRAs as early as age 70½.

You can…

  • Distribute up to $108,000 in a calendar year from your IRA (regardless of the size of your RMD) directly to St. Francis Xavier Catholic School, tax free
  • If your spouse has a separate IRA, he or she can also make a QCD up to $108,000 per year
  • Transfer your full RMD or only a portion of it
  • Decide each year if and/or how much of your RMD to use

Benefits of Using an IRA Charitable Rollover

  • Entitles you to tax benefits without requiring you to itemize your deductions
  • The distribution counts towards your required minimum distribution
  • The distribution is not included in the income on which your federal income taxes will be based (thus reducing your taxable income)
  • Because the distribution is tax free, you can increase your giving without costing you one additional penny
St. Francis Xavier Catholic School students

Beneficiary Designations

Many assets can be easily transferred directly without the use of a will or trust. By utilizing beneficiary designations associated with certain assets to make your legacy gift, you will also avoid probate.

Assets you can transfer this way

  • Life Insurance Policies
  • 401k, 403b and other Retirement Plans
  • Individual Retirement Accounts (IRAs)
  • Annuities
  • Bank Accounts (designate the account as Payable On Death “POD”)
  • Investment Accounts (designate the account as Transfer On Death “TOD”)

The process is simple and straightforward

  • Step 1: Contact the financial institution managing your asset
  • Step 2: Request a list of current beneficiaries
  • Step 3: If you would like to make changes to the beneficiaries, request a new beneficiary designation form
  • Step 4: Complete and return the new beneficiary designation form to your financial institution with the name, location and contact information for St. Francis Xavier Catholic School

For example: St. Francis Xavier Catholic School, 2055 Heitman Street, Fort Myers, FL 33901, 239-334-7707 (EIN: 59-1958751)

St. Francis Xavier Catholic School does not provide legal, tax or financial advice. When considering gifting options, seek the advice of your own legal, tax and/or financial professionals.

Start Your Legacy Today

Learn more about creating a planned gift to St. Francis Xavier Catholic School.