We invite you to join our Legacy Society, a prestigious club for those who’ve designated a planned gift to Bishop Neumann Jr/Sr High School. Your financial support through estate planning will have a positive impact on our Catholic education for years to come. Some gifts can be arranged to benefit Bishop Neumann while also providing life income for you, your spouse, or other family members. Most planned gifts can be as simple as a bequest in a will, charitable trusts, annuities, life insurance, or retirement plans. Please see below for a list of examples.
Please contact the current Advancement and Development Director and Licensed Financial Advisor Ryan Mascarello at (402)443-4151 for more information about your estate planning or to become a Legacy Society Member.
Creating Your Legacy
- Make a difference by investing in Catholic education
- Feel a sense of fulfillment by being a Steward of God
- Enjoy the legacy YOU created
- nearly 50% of adults DO NOT have a current will
- nearly 60% of adults DO NOT have enough life insurance
- Receive tax advantages through charitable giving
- Receive recognition today for your future gift
- Your name will be presented on a beautiful plaque in the school’s hallway with other Legacy Society members
Ways to Give
Cash – Your gift by cash/check/credit card is an investment in our school and our ministry of Catholic education.
Stock, bonds, mutual funds – Stocks and securities provide an immediate gift to the Bishop Neumann and are a wonderful way to give, especially if they have appreciated in value. You receive two tax benefits, an income tax deduction for the fair market value of the stock (not just the original investment) and avoidance of any capital gains tax on the stock’s appreciated values. Donating stock removes it from your estate, saving you possible estate taxes.
Will Bequests – You can name Bishop Neumann as a beneficiary in your will by leaving a gift of a percentage of your estate, a specific amount or a residuary amount.
Gift Annuities – You can make an irrevocable gift to Bishop Neumann and it provides income to you for life.
- Gift annuity rates range from between 5 and 9 percent, depending on your age.
- If you have stock or another appreciated asset you can contribute it to a gift annuity and avoid capital gains.
- You receive annual payments.
- You fund it with cash, securities, tangible property or real estate.
- Your annual income depends on your age.
- You receive an income tax deduction for a portion of the value of your gift the year you make it.
- If you desire to make a gift but need stable annual income, a gift annuity is an option.
- The asset you use to fund your gift annuity is removed from your estate, saving you possible estate taxes
Life Income Agreements (trusts, charitable gift annuities) -You can make an irrevocable gift and receive income payments similar to a gift annuity. The difference is that a charitable trust is a larger gift ($100,000 or more) and offers you more options.
- You can receive quarterly, semi-annual or annual payments.
- You name a professional trustee to manage the trust or you can name yourself as trustee.
- You can create a trust that allows you to make additional payments when you desire or have the financial need.
- You can create the trust to last for a period of years.
- You receive an income tax deduction for a portion of the value you make the gift in the year you make it.
- The asset you use to fund the trust is removed from your estate, saving you possible estate taxes.
Beneficiary of Retirement Accounts
Beneficiary of Life Insurance – You can donate either a paid-up policy or start a new policy. In both cases, designate Bishop Neumann as the owner and beneficiary of the policy, or the school can be named as a secondary beneficiary, after your spouse or your children. A paid-up policy gives you a tax deduction equal to the cash value of the policy. Donating a new policy allows you to deduct the full value of the annual premiums you pay. When you make Bishop Neumann the owner and beneficiary of the policy, it removes the life insurance from your estate, saving you possible estate taxes.
Real Estate – Donating real estate gives you an income tax deduction for the fair market value of your property.
- If you own your home, you can create a life estate. You’ll live in your home and enjoy full use of it while you are alive. Upon your death, Bishop Neumann assumes ownership of your property. You can claim a tax deduction in the year you create the life estate.
- If you own a piece of property that currently provides little to no income for you, create a charitable trust with the real estate as the primary asset. You avoid any capital gains on the real estate when it is eventually sold. You receive a tax deduction in the year you make the gift. You turn a former, low-income-producing asset into an asset that provides you with sufficient income.
- Donating real estate removes the asset from your estate, saving you possible estate taxes
PLEASE NOTIFY US THAT WE ARE A PART OF YOUR LEGACY FOR OUR RECORDS AND ALSO SO WE CAN HONOR YOU TODAY!
Legal Name: Bishop Neumann Central High School
Tax ID #47-0486467
Address: 202 South Linden St, Wahoo, NE 68066
