Giving

Give Via Donor Advised Fund

A DAF- donor advised fund- is like a charitable savings account where you can recommend how much and home often money is granted to St. Bernard’s (or other charities). You can also secure your legacy by naming St. Bernard’s as the beneficiary of all or a percentage of the fund. With a percentage, you can create a family legacy of giving by naming your loved ones as your successor to continue recommending grants to charitable organizations. Your fund administrator can assist you in this process. A donor advised fund can be established or contributed to with cash, stocks and securities, real estate, retirement plans, and other assets.

Give Appreciated Assets Including Stocks

Making a gift of securities or mutual funds to St. Bernard’s offers you the chance to support our work while securing tax benefits for yourself

When you transfer appreciated securities or mutual funds you have held for more than one year to us, you can reduce capital gains taxes and may also qualify for charitable tax deductions (based on the fair market value of the securities at the time of the transfer). Securities can be gifted outright or in a transfer on death (TOD) account. An outright gift allows you to donate securities to St. Bernard’s- you receive the same income tax savings that you would if you wrote us a check, but with the added benefit of eliminating capital gains taxes on the transfer Placing a TOD designation on your investment account ensures that the account will be paid over to St. Bernard’s after your lifetime.

Securities can also be gifted in your will or used to fund an endowed gift, charitable gift annuity, charitable remainder trust, or charitable lead trust.

Name St. Bernard's in Your Will

Naming St. Bernard’s as the beneficiary of a bequest is a simple way to forge a legacy that will last for decades. We encourage you to consult with your legal and financial advisor to choose a gift that works best for you and your interests. It is important that you inform us of any gifts, now or set for the future, so that we can ensure proper usage and stewardship of your gift!

Gift in your Will or Living Trust

Naming St. Bernard’s in your will or living trust allows you to establish a legacy that will last for decades to come. It also gives you the flexibility to adjust your will in the future.

A bequest can be made for a specific dollar amount, a percentage of our estate, certain assets, or a remainder amount. When drafting your request, you can consider using the following language:

“I give to St. Bernard’s School of Theology and Ministry, a nonprofit institution located at 120 French Road, Rochester, NY 14618, or its successor thereto, _________ (description of gift) for its unrestricted charitable use and purpose.”

“I give to St. Bernard’s School of Theology and Ministry, a nonprofit institution located at 120 French Road, Rochester, NY 14618, or its successor thereto, _________ (description of gift). This gift should be used for _____(state your intended purpose) so long as St. Bernard’s determines that the need exists. Providence College shall determine at the outset or at a later time that the need does not exist, or no longer exists, or for some reason it is not possible (or prudent) to administer my gift as originally intended, then St. Bernard’s may, in its sole and uncontrolled discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above."

Legal Name: St. Bernard’s School of Theology and Ministry

Federal Tax ID Number: 16-0743149

Address: 120 French Road Rochester, NY 14618

Beneficiary Designations

You can leave your mark on St. Bernard’s without a bequest in your will or living trust. Instead, naming St. Bernard’s as the beneficiary of specific policies, funds, or assets provides you flexibility. St. Bernard’s can be named as the beneficiary of IRAs and retirement plans, life insurance policies, donor advised funds, and appreciated annuities. Your policy or plan administrator can provide you with a change of beneficiary form that allows you to make your gift.

Legal Name: St. Bernard’s School of Theology and Ministry

Federal Tax ID Number: 16-0743149

Address: 120 French Road Rochester, NY 14618

Donate Life Insurance

Life insurance policies are usually established to serve a purpose- such as educating your children or providing financial security for a spouse. Once that purpose has been served, the life insurance policy can become a unique way to support St. Bernard’s.

You can name us as a primary or contingent beneficiary of the policy, either for a percentage or a specific dollar amount. This can be done by updating the beneficiary form through you insurance policy holder.

You can name us as the owner of an existing policy. You will qualify for an income tax deduction both when you gift the policy and also in any year when you pay premiums on the policy.

You can name us the owner of a new policy. When you take out a new policy, you can name St. Bernard’s as the owner and beneficiary of this policy. Any further payment you make to the policy will be tax deductible.

Give through IRA or Retirement Plan

Giving through your IRA, known as a qualified charitable distribution (QCD), is a great way to provide for St. Bernard’s and also save on your taxes. After age 70.5, you can give up to a maximum of $100,000 per year from your IRA directly to St. Bernard’s or other charities; and you pay no taxes on the gift. After you turn 72, any gifts from your IRA can also satisfy some or all of your RMD (required minimum deduction). Additionally, the gift can reduce your annual income level. You can also name St. Bernard’s as the beneficiary of your IRA, however, if you give from your IRA during your lifetime, St. Bernard’s can immediately start using the money, allowing you to see the impact of your gift at work.

Those between the ages of 59.5 and 70.5 may want to consider taking a distribution and then making a gift from your IRA, which can be itemized in your tax deductions. Those of any age can name St. Bernard’s as the beneficiary of any percentage of your IRA.

IRAs are the only type of retirement plans that allow direct gifts to a qualified charity. However, if you have other types of plans such as a pension, thrift savings plan (TSP), 401(k), or 403(b), you may be able to make a transfer from this plan into an IRA and then make the transfer from the IRA directly to St. Bernard’s. Your plan administrator will be able to discuss this option with you.

Donate Property

Gifting real estate, such as a personal or vacation home, commercial property, or land provides a valuable asset to St. Bernard’s that will last for years. It also prevents you from having to dip into your cash assets, minimizes capital gains taxes, qualifies as a charitable deduction, and allows you to avoid having to sell the real estate, as the deed can be transferred directly to St. Bernard’s now or through your will.

Valuable property, such as antiques, collections, artwork, cars, and other personal property have the potential to offer you tax benefits, depending on the use of the gift. Gifts of property can also be a special way to make a memorial or tribute to a loved one.

Charitable Gift Annuity

A charitable gift annuity allows you to make a gift to St. Bernard’s while also providing you income in retirement. In a charitable gift annuity you agree to make a gift to St. Bernard’s and in return we pay you a fixed amount each year for the rest of your life. The balance of the gift is used by St. Bernard’s and you can also qualify for tax benefits and charitable deductions.

Charitable gift annuities can be funded with cash, stocks and securities, real estate, and other donor advised funds.

Charitable Remainder or Lead Trust

A charitable remainder trust is ideal for large estates and donations. It is a gift that provides you with income each year, for up to 20 years, from the assets that you place in the trust. At the end of the trust term, the balance of the trust is given to St. Bernard’s.

A charitable lead trust allows you to make an impact on St. Bernard’s now while also providing for your family later. It is a gift that provides St. Bernard’s with payments over a set period of time. At the end of the trust term, the balance of the trust is transferred to your family or other beneficiary.

Make a Wire Transfer

To make a wire transfer to St. Bernard’s we will need the following information:

Name of Donor (as you would like it acknowledged)

Gift Amount

Designation of Gift

Contact Phone Number

This information can be sent via email or phone to the Director of Development. They can also provide you with the account number for the wire transfer.