Building a Legacy at Saint Joseph’s College
Thank you for taking time to explore the Saint Joseph’s College Planned Giving Program. Our rich tradition of Mercy and Catholic education has shaped the ways we have developed exemplary students for more than 100 years. Your decision to give to our trusted institution will continue the mission to nurture intellectual, spiritual, and social growth in students of all ages and all faiths within a value-centered environment.
The College’s strategic plan, Sustaining the Promise: Toward Saint Joseph’s College’s Second Hundred Years, charts our pathway forward. It calls on us to honor our core values and commitments as we embrace innovation in the service of empowering individuals and strengthening communities. Today, I invite you to join us in our work of sustaining the promise at Saint Joseph’s College and in communities where our alumni live, work, and contribute. There are many different ways to give, and we want to help you find the one that inspires you.
James S. Dlugos, Ph.D.
President, Saint Joseph’s College of Maine
From small contributions to large estate giving, every single gift plays a significant role in shaping Saint Joseph’s College.
If you would like more information, please call or email Joanne Bean, Vice President and Chief Advancement Officer, at 207-893-7891 or firstname.lastname@example.org.
Planned Giving Options:
When you create or update your will, we ask that you include Saint Joseph’s College as a beneficiary. Your bequest to the College can include personal property, real estate, securities, insurance policies, or retirement plan assets. Not only will you be changing lives at Saint Joseph’s College, you can help your family by relieving the weight of estate taxes.
If you are age 70 1/2 or older, an IRA rollover is a simple way to make a gift to Saint Joseph’s, while receiving tax benefits. You are able to make a gift up to $100,000 from an IRA each year. This is a great option to help offset taxes because it lowers your taxable income. You are able to transfer your required minimum distribution annually to Saint Joseph’s without recognizing the distribution as income. This option may be good for you if you do not desire to make a cash gift, but still want to significantly help Saint Joseph’s.
Important Note for 2020: Required Minimum Distribution from IRAs Suspended for 2020
- Persons 72 years old and older with an IRA are not required to take a minimum distribution in 2020.
- This is significant because the amount of the RMD is based on the value of a person’s portfolio of stocks on December 31, 2019. Not having to take a distribution in 2020 allows a retiree to leave their money in the market and see the value of their stock restored.
Charitable Gift Annuity
With a gift annuity, you will transfer cash or property to the College in exchange for a partial tax deduction and a lifetime stream of annual income from Saint Joseph’s. This is an excellent option if you would like to secure your financial stability, while giving to Saint Joseph’s in a meaningful way. Annuities are principally appealing if you would like to receive income from assets that have gained value, like stocks. The gift annuity will provide supplemental income payments for your lifetime and the lifetime of your spouse, as well as tax breaks at the time of your gift and every following year.
Sample One Life Gift Annuity Rates
An endowed scholarship provides a permanent asset to Saint Joseph’s College from which students are supported. The gifted principal remains intact and only the interest is awarded each year. When you choose to give towards an endowed scholarship, you help Saint Joseph’s grow in a strategic way while offering students the opportunity to receive scholarships. Many times, the scholarships offered at Saint Joseph’s are the enabling factor in allowing students to attend the College. With this gift you are choosing to change the lives of future generations.
To recognize those who understand the important legacy a planned gift creates, Saint Joseph’s College created the Xavierian Society. Over the years, alumni and friends of the College have continued to further the mission and strengthen the College through planned giving. Members of the Saint Joseph’s College Xavierian Society are forward-thinking individuals who want to be sure that the mission of Saint Joseph’s continues in a vibrant way for many generations. These individuals have made and notified the College of their intention to leave a legacy gift of any size through a variety of charitable plans.
Please call or email Joanne Bean, Vice President and Chief Advancement Officer, at 207-893-7891 or email@example.com to plan your gift today.