Saint Andrew’s School can be listed as beneficiary and/or owner of a life insurance policy. A donation that is irrevocable will ensure a charitable deduction. By naming Saint Andrew’s as the owner and beneficiary of a life insurance policy, you will receive an income tax charitable deduction and the value of the policy will not be included in your taxable estate. Because life insurance costs “pennies per dollar” of coverage, it is a popular way to make a sizeable gift at a modest cost and support Saint Andrew’s with an extraordinary gift.
A gift of real estate can be made outright, through a will, or to fund some type of life income arrangement. The donated property will provide a charitable deduction, transfer the burden and expense of managing the property, and remove a large asset from your taxable estate. You may also wish to consider giving Saint Andrew’s a remainder interest in your home while retaining the right to reside in it for the rest of your life.
A gift of cash is the easiest gift to make and provides the maximum and most immediate deduction. Gifts may be sent by check, wire, or credit card. You can also make a cash gift through your will or create a life income gift. By donating cash, a donor can normally use more of the charitable income tax deduction each year than through gifting other types of assets.
Tangible Personal Properties
Gifts of tangible personal property are welcomed for the support of Saint Andrew’s School and its mission. Donors may offer artwork, collectibles, books, equipment or other items that are “related” to our school’s purpose. With few exceptions, the gift will provide a charitable deductions for the its fair market value, with no capital gains liability to the donor or the organization. Please contact the Development Office at Saint Andrew’s School, so that they can assist you on whether or not we can accept your gift.