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Planned Giving

Tax-Free Gift with an IRA

If you are 70 1/2 years old or older, you can take advantage of a simple way to benefit Holy Savior Menard Central High School and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money. This law no longer has an expiration date so you are free to make annual gifts to our organization this year and well into the future. Furthermore, this charitable contribution to Menard, from your IRA, can also be considered part or all of your required mandatory (RMD), if you are over 72 years old. If you are fortunate enough to have an inherited IRA, these also qualify for this method of giving and tax savings. By giving to a charity this way, the potential for tax savings can be significant. 

 

Gift of Retirement Plan Assets

 Consider leaving a portion of your retirement plan assets to Holy Savior Menard Central High School. Get the most value from your nest egg protecting your heirs from taxes. This can reduce the amount that normally would be passed to heirs by up to 37.0 percent. In contrast, as a nonprofit organization, we are tax-exempt and eligible to receive the full amount and bypass any federal taxes. Income taxes can be eliminated or reduced through a carefully planned charitable gift. Consider these gift options: 

  • Designate HSM as the primary beneficiary for a percentage (1 to 100 percent) of your retirement plan assets.
  • Designate a specific amount to be paid to us before the remainder is divided amoung family beneficiaries.
  • Make us the contingent beneficiary to receive the balance only if your loved one, as primary beneficiary, doesn't survive you. 

To implement your wishes, simply advise your plan administrator of your decision and sign the required forms. 

 

We Can Help

Jennifer Tichenor at 318-445-8233 or email at JTichenor@holysaviormenard.com with any questions about naming Holy Savior Menard Central High School in your will or living trust. We are happy to help, without obligation.