1. Charitable Gift Annuity
In exchange for a gift of cash, stock or securities, The Passionists will pay you and your survivor, or another person, you designate, a guaranteed income (based on your age) for life.
2. A Bequest
A bequest can be added during a wills creation or added later by means of a codicil. Below is wording you can use when writing a charitable bequest to The Passionists:
For a specific amount:
“I give and bequeath $ _______to, The Congregation of the Passion, Holy Cross Province, a nonprofit corporation located in Park Ridge, IL.”
For a percentage gift:
“I give and bequeath ________% of all the rest, residue and remainder of my estate to The Congregation of the Passion, Holy Cross Province, a nonprofit corporation located in Park Ridge, IL.”
3. Retirement Account
You can designate the Passionists as a beneficiary of your retirement account. With this option, The Passionists – not you – will be treated as receiving the distribution; therefore, neither you nor your estate will owe income taxes on the amount. While the amount will be included in your taxable estate, your estate will receive a deduction for the amount inherited by The Passionists, resulting in an offset of the estate taxes.
4. Gifts of Appreciated Assets
A gift of an appreciated asset, often common stock or mutual fund shares, is a valuable way to contribute to The Passionists and receive tax benefits based on the value of the asset(s).
Please contact us, and we would be happy to talk to you about how you can help us with our Passionist future.