In 1854, five Cleveland Ursulines, accepting an invitation extended by Bishop Amadeus Rappe to establish a religious community in Toledo, took up residence in a small frame building situated on the corner of Cherry and Erie Streets. Four days after their arrival, the Sisters opened the doors of St. Ursula Academy at the same site.
In its effort to build on the past and in its commitment to assure the future, St. Ursula Academy provides opportunities for alumnae and friends to make deferred gifts. These gifts may include bequests, annuities, life insurance, trusts, and other types of pledges.
The 1854 Society has been created to acknowledge the thoughtful generosity of benefactors who identify their legacy gifts to St. Ursula Academy. If you have included St. Ursula Academy in your estate plan, please contact Michelle Moses, Director of Donor Relations, at (419) 329-2253 or mmoses@toledosua.org, for a membership application into The 1854 Society.
If you are considering a planned gift, we would like to be made aware of your consideration in order to describe your options and to ensure that your intentions are honored. In this case, it is important that you consult with an attorney or financial advisor for the legal and tax consequences of your gift.
We invite you to become a member of The 1854 Society and a partner with St. Ursula Academy in securing a transformational future for our young women.
Planned Gifts
Planned gifts are given by alumnae or friends who wish to make St. Ursula Academy the beneficiary of a future gift.
Through a planned gift, the donor’s philanthropy will help to make a measurable difference in the future life of the Academy, both for its students and its programs. The donor may also realize financial or tax benefits, such as increased income or reduced estate tax liability.
There are creative ways to make a planned gift to St. Ursula Academy.
A bequest through a will is perhaps the most common way that an individual commits to a future gift. When an immediate cash gift or pledge may not be possible or desirable, an individual may promise an estate gift of a percentage or a fixed amount to the Academy. The bequest can be unrestricted, restricted in its purpose or contingent.
A charitable gift annuity is designed to pay the donor a fixed income for life through a gift of cash or securities or, in some circumstances, real estate. The payout rate is determined by the age and number of beneficiaries at the time the irrevocable gift is made.
The donor of life insurance will name St. Ursula Academy as the owner and beneficiary of a new or existing policy, with the option of making an annual tax-deductible gift of the premium amount to SUA. The donor may also give a paid-up policy to the Academy.
A gift of real estate with a retained life interest allows an individual to deed the property to St. Ursula Academy, while retaining the use of it throughout their lifetime. There are tax deductions available through this gift.
There are several types of trusts in which a future gift is guaranteed to St. Ursula Academy but the donor receives an annual income from assets used to fund the trust. The income lasts for the life of the donor and/or another person’s, or for a certain period. After the trust term, the remainder of the trust’s assets is available for the Academy’s use.
There are additional ways that donors may consider as they evaluate their circumstances and their intentions for the present and future use of their assets. Donors should rely on professional help in considering the choices of gifting options available to them.
Philanthropic Considerations
In many cases, a planned gift that receives favorable tax considerations is irrevocable. However, in certain situations, an intention may be changed during a person’s lifetime, such as through a will.
An undesignated future gift will be used to help fund priorities identified by St. Ursula Academy. A gift may be designated to satisfy the donor’s intention for the use of the gift.
No minimum amount is required for a planned gift to SUA unless it is meant to be endowed. A gift of any size qualifies for membership in The 1854 Society and generates grateful acknowledgement in a variety of ways.
Membership in The 1854 Society does not obligate your estate or heirs.
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