The Legacy Society & Planned Giving at SJA

St. James Academy was originally founded in 1821. Although the school was closed in the latter 19th century (re-established in 1957), the spirit of the Academy has grown throughout the decades with the support and dedication of generations of family and friends. Planned gifts will help ensure continued excellence at St. James Academy for the children entrusted to our care today and tomorrow.

Planned gifts to St. James Academy will build endowment, thus providing funding for the future. Endowment
income can help relieve pressure on the annual budgeting process, help attract and retain the best teachers and administrators, help sustain the economic diversity of our student body, and enrich our educational program.

The Legacy Society is a way for St. James Academy to recognize those who participate in the Academy’s planned giving program. Members of The Legacy Society have contributed in a number of ways-through bequests, trusts, gifts of life insurance, as well as a variety of life income arrangements.

The Legacy Society invites you to help St. James Academy Plant the Seeds…Review our planned giving opportunities. All will enable you to make a contribution to this community, valuable today and essential tomorrow. Through your thoughtful consideration and generosity, your action can forever nurture St. James Academy.

A planned gift to St. James Academy can bring substantial benefits to you and to St. James Academy.

A planned gift is any charitable gift, current or deferred, which is planned, usually with professional advice, to optimize a donor’s financial, tax, and estate plans, while helping to secure the long-term financial security of one or more charitable institutions. A planned gift usually involves immediate benefits to the donor and deferred benefits to the charity.

Some advantages to you include:

• Planned gifts can generate a stream of income to you, or other beneficiaries you name, for life or a term of years.
• You can convert low-yielding assets into a higher income stream.
• You can obtain significant income tax deductions.
• You can reduce or eliminate capital gains and estate taxes.

The advantage to St. James Academy is that a planned gift helps to build endowment, thus providing the resources to assure excellence for the future!

Planned Giving Options at St. James Academy

Bequests in a Will

Name St. James Academy in your will (or revocable trust). A bequest in your will can take the form of a set amount of money, a percentage of an estate, a specific asset, a trust, or the naming of St. James Academy as a contingent beneficiary.

Benefit to You: Estate tax charitable deduction.
Benefit to SJA: Receives bequest after your death.

Charitable Trusts Brochure
Create a trust that provides you an income for life. This trusts usually involves larger sums of money ($100,000 or more) and can be added to over the years.

Benefit to You: Annual income for life. Income tax deduction. Relief from capital gains tax.
Benefit to SJA: Receives assets of trust at the end of the term of the trust.

Charitable Lead Trusts
If your goal is to pass on more to your heirs at significant tax savings, create a charitable trust that pays income to St. James Academy for a term of years, principal to go to heirs at the end of the term.

Benefit to You: Gift tax reduction on transfers to heirs.
Benefit to SJA: Receives income during term of the trust.

Gifts of Life Insurance
Name St. James Academy as a beneficiary, or both owner and beneficiary, either by purchasing a new policy or designating the Academy on an existing policy.

Benefit to You: Estate tax charitable deduction or current income tax deduction.
Benefit to SJA: Receives death benefit at death of insured.

Gifts of Retirement Assets
Name St. James Academy as a designated beneficiary of your retirement plan or account.

Benefit to You: Estate IRA tax charitable deduction.
Benefit to SJA: Receives any residual assets at death of donor.

Gifts of Real Estate, Closely Held Stock, and Tangible Personal Property
Gifts of assets other than cash or marketable securities, such as real estate, closely held stock, partnership interests, and tangible personal property can be an excellent way of making a gift to St. James Academy.

Benefit to You: Income tax deduction. Relief from capital gain tax.
Benefit to SJA: Receives gift and/or monies from sale of gift.

These options can be tailored to your individual needs. Donors may find that a combination of planned gifts produces the best results. St. James Academy is honored to work with you and your professional advisors to achieve the most advantageous ways of giving for you.

Planned Giving is a means by which anyone concerned with the wise use of his or her personal resources makes a considered choice about their ultimate disposition.

St. James Academy
3100 Monkton Road
Monkton, MD 21111

For additional planned giving information or guidance, please contact the Academy Development Office 410-771-4816 or JConnelly@saintjamesacademy.org.

We cannot give you legal or tax advice, so we recommend review of you plans with your attorney or tax advisor.