There are many ways to make a gift to Bishop Keough. Some have added benefits for the donor depending on age, type of asset contributed and the form of gift selected. Bishop Keough is ready to work with donors to fashion the most beneficial gift for the donor, for the donor's family and for Bishop Keough. Building the endowment is a major priority of the Office of Institutional Advancement, and there are numerous opportunities to create endowed funds for faculty chairs, scholarships, faculty research and other purposes. Other Office of Institutional Advancement goals include increasing current-use funds to supplement ongoing and unforeseen needs. A donor who itemizes deductions is entitled to an income tax deduction for the full amount of the gift; however, the deduction allowed in any one year for a cash gift is limited to 50 percent of the donor's adjusted gross income. Any amount exceeding the 50 percent ceiling can be carried forward and deducted up to five more years. The gift vehicles outlined below offer donors opportunities to increase their support of Bishop Keough beyond what they might be able to do through outright gifts of cash. Pledges to Bishop Keough can be completed over a period of up to five years. We invite you to consider the following options:

By far, the easiest and most common way to support Bishop Keough is to make an outright gift of cash. Checks should be made payable to Bishop Keough and sent to:

A charitable remainder trust is a trust vehicle to which a donor can transfer assets while retaining the right to receive income for life or for a term of years. (A charitable remainder trust can also be established as part of a donor's estate plan and provide an income stream for survivor beneficiaries.) Unlike the other life income plans, the charitable trust is a private account for each donor. The donor makes all decisions with respect to the terms and management of the trust. A charitable remainder trust offers benefits similar to the other programs, but is especially appropriate for a donor who wishes to create a life income plan that suits his or her individual needs. In addition, the creation of a charitable remainder trust entitles the donor to an income tax charitable deduction in the year of the transfer.

Real estate held more than 12 months can be contributed outright to Bishop Keough, entitling the donor to an income tax deduction based on the current, appraised fair market value. The donor can claim a deduction up to 30 percent of his or her adjusted gross income in the year of the gift. Any amount exceeding the 30 percent ceiling can be carried forward and deducted for up to five more years. In addition, the donor avoids a potential capital gains tax on the property. Note: Real estate gifts are expedited when there is no mortgage on the property. A donor can also transfer real estate to a charitable trust while retaining the income from the trust. Through such a plan, a donor can convert a non-income-producing asset to new income, receive an income tax deduction for part of the gift, avoid capital gains tax when the property is sold by the trust and make a significant gift to Bishop Keough.

The donor transfers cash or securities to Bishop Keough and receives a lifetime annuity payment from the gift. The rate is based on the age and number of annuitant. The donor receives a charitable income tax deduction based on the age and number of annuitant (generally, the donor or the donor and the donor's spouse). The deduction may be claimed in the year of the gift up to the contribution ceilings previously outlined. The donor avoids immediate capital gains tax on the transfer of appreciated securities, and the annual payment is based on the fair market value of the gift. A portion of each annuity payment is tax-free for both state and federal purposes for a period of years (based on the donor's life expectancy). The gift annuity is appropriate for a donor who wants a fixed rate that will never change.

The donor transfers cash or securities to Bishop Keough and retains a lifetime income from the gift. The payments will begin at a future date determined by the donor at the time of the gift. The annuity rate is based on the age of the donor and the number of years before the first payment. In all cases, the rates are higher than for current gift annuities. The longer the deferral of the gift, the higher the rate. The donor receives a charitable income tax deduction in the year of the gift based on the age and deferral period. There is no immediate capital gains tax on the transfer of appreciated securities. Taxation of the deferred annuity payment is mostly ordinary income. The deferred gift annuity is appropriate for a donor who does not need income currently, but who wishes to establish an income for retirement while receiving an income tax deduction immediately.

A donor who owns appreciated securities (held more than 12 months), can benefit in two ways by making a gift of securities to Bishop Keough. First, he or she will be able to claim a charitable income tax deduction for the full value of the shares. The deduction is limited to 30 percent of his or her adjusted gross income in the year of the gift. As with outright gifts of cash, any amount exceeding the contribution ceiling can be carried forward and deducted for up to five more years. Second, the donor will avoid the capital gains tax that would have been due if he or she sold the shares. To make a gift of securities to Bishop Keough, contact the Bishop Keough Office of Institutional Advancement at (401) 726-0335 for transfer instructions.

It is possible to transfer ownership of your personal residence or farm to Bishop Keough while retaining enjoyment of the property for the remainder of your lifetime. This may be an excellent way to support Bishop Keough, and receive a current income tax deduction for the property's discounted value, and continue to use the property for as long as you live.

A donor may contribute to Bishop Keough a life insurance policy that is no longer needed for its original purpose. Simply ask the life insurance company for a Designation of Beneficiary form. To make an irrevocable transfer that will receive gift credit, the donor must name Bishop Keough as both beneficiary and owner. The donor will receive gift credit for the cash surrender value of the policy and may claim that value as an income tax deduction in the year of the transfer. In general, the school will redeem the policy for its cash value and use the proceeds for the purpose designated by the donor.

You can provide annual payments to Bishop Keough from a pool of assets that later will be distributed to your heirs. Known as a Charitable Lead Trust, this plan allows you to direct income payments to Bishop Keough for a specific number of years. At the end of the trust's term, assets are transferred to family members at a reduced transfer tax.

Bishop Keough will honor your intentions to provide a charitable gift through your will to the Institution by offering recognition during your lifetime for the documented value of your bequest.

Many employers match the gift their employees make to Bishop Keough. Please check with your employer to see if the company has a charitable contribution matching gifts program. If so, your gift may be doubled or tripled simply by completing a form that will be available from your employer.

Bishop Keough will honor your intentions to provide a charitable gift through your will to the school by offering recognition during your lifetime for the documented value of your bequest. You should consult with your attorney and tax advisor to determine how these various options might affect your personal tax and estate planning objectives.

For more information about planned giving opportunities, please contact the Bishop Keough Office of Institutional Advancement at (401) 726-0335 or advancement@bishopkeough.org