Winter 2009 - K-Space Web Page - Central Catholic High School

The Many Ways to Support Central Catholic
By Mary McCarty Pierce ‘65
We have recently completed our civic duty at
the ballot box. Now many will take stock
of their social responsibilities. The
economy is unpredictable, tax laws
continue to change, but the need
for charitable contributions
remains constant - and quality
education remains an
essential worthy cause. What
can you do to help? Let me
list the ways!
Current Gifts:
The Annual Fund and
Phone-a-thon allow Central
Catholic to meet yearly expenses
while striving to maintain a reasonable
tuition rate. Unrestricted funds are also
used to aid families who desire a Catholic
quality education for their children, but
need a little help. Gifts of cash are
deductible up to 50% of a donor’s adjusted
gross income (AGI) and excesses can be
carried over for fi ve years.
The 360 Club affords membership to
those who have the means and blessings to
make annual unrestricted gifts of $1,000 or
more. This year, those gifts are being used
to provide laptop computers to Central
Catholic students enhancing their learning
in today’s technological world.
Gifts of appreciated property, such as
long-held stock certifi cates or real estate,
offer the donor a double tax benefi t: a
deduction of the current value of the gift
and the avoidance of any potential capital
gains tax.
Gifts of personal property such as cars,
boats and collections are also welcomed
and appreciated.
Apart
from the
ballot box,
philanthropy presents
the one opportunity the
individual has to express his
(or her) meaningful choice
over the direction in which
our society will progress.
-George G. Kirstein
Class Rings Find Their Owners
In the last issue of Scarlet and Gray we ran a story about several CCHS
class rings that were found and how we were trying to fi nd their
owners. We are happy to report that we matched up two of the rings
with their rightful owners because of that story.
Ann Zielinski ’86 stopped by Central Catholic to pick up her ring
after friends and family told her how they read about her missing ring
in the Scarlet and Gray.
Income-Producing Gifts:
Charitable gift annuities allow
donors to transfer gifts, cash,
securities, or even real estate
to Central Catholic in
exchange for a lifetime
of quarterly payments.
The benefi t amount
depends on the value of
the gift and the age of
the donor. A current tax
benefi t is realized and
the assets are removed
from potential future
estate taxes.
Charitable remainder trusts are
similar to charitable gift annuities except
that the payout options are more fl exible.
Payments can be received as fi xed amounts
(annuity trust) or payments may vary
(unitrust). The grantor selects the payout
amount or percentage as well as the term of the
trust. Charitable lead trusts are similar, except
that the income is paid to the charity and the
assets are returned to the grantor at the end of
the term.
Deferred Gifts:
A deferred gift is a gift that will be realized
by Central Catholic at the time of the donor’s
death. Examples include naming Central
Catholic as a benefi ciary in your will, trust, life
insurance policy, commercial annuity,
certifi cate of deposit or retirement plan.
Making Central Catholic owner of your
annuity or life insurance policy will create
current as well as future tax benefi ts.
Wealth-replacement plans offer tax benefi ts
to your heirs by replacing your taxable bequest
(IRA, 401K, etc.) with a tax-free insurance
policy. The taxable asset can be placed in an
income-producing charitable gift using the
income to pay insurance premiums.
www.centralcatholicalumni.org
Additional giving options
include:
• Event participation and sponsorship - such
as the annual Irish Open and Dinner Auction
• Naming privileges - as with Honor Plaza
pavers, Gallagher Stadium seats and lockers,
and classrooms
• Memorial gifts - remembering or honoring a
loved one with a one-time gift
• Scholarships - $10,000 can create a perpetual
scholarship in honor or in memory of
whomever you choose
• Department chairs - in support of a specifi c
department or program
For more information on ways that you can
support Central Catholic, contact Mary
McCarty Pierce at 419-255-2306 ext. 1058 or
e-mail mpierce@centralcatholic.org.
Please consult your attorney and/or tax
consultant about the applicability to your own
situation.
We also received a call from Meg Ludwikoski ’75 who said the ring
that was found on the roof of the store at 2300 Lagrange Street might
belong to her mother. We put Meg in touch with the person who
had found the ring, and it did indeed belong to her. Meg’s mother
is Lucille (Michalak) Ludwikoski ’46 who passed away in December
of 2004. Lucille lived a few blocks away from the store, which was an
A & P at the time. The ring is now in the hands of the Ludwikoski
family, and they are very grateful that someone would take the time to
contact CCHS when they found it.