There Are Many Ways to Show Your Support
We encourage our alumni and friends to make gifts to Providence during their lifetime as well as after their lifetime. Many of these types of gifts can offer tax advantages as well—all it takes is a little forethought and planning. Here are some of the most common planned gift arrangements to consider.
Bequests are gifts made in a will that distribute cash or property to a beneficiary. A bequest can be for a specific amount, a specific property, or can be expressed as a fixed percentage of your estate or as a remainder of the estate. Bequests can help reduce the tax liability of an estate and can be changed as needed over time.
Life Insurance Policies represent an attractive option for making a charitable gift after your lifetime. Designating Providence as a beneficiary of a policy can be done by simply advising your agent of your decision. Individual Retirement Accounts (IRAs) can also be utilized in this way. If you choose to give a policy to the school outright, a charitable income tax deduction can be taken for such a gift.
Life Income Gift Plans provide income during your lifetime, along with income tax benefits based on your age and value of the gift. Providence receives the gift once all income obligations to you and/or a beneficiary have been met.
If you are interested in learning more about planned gift arrangements, please contact Tony Perito in the Advancement Office at email@example.com.