Planned Giving Opportunities

If you value the education that Ursuline Academy of Dallas provides young women and would like to help secure its future, you might consider arranging for a planned gift to benefit the Academy.

The Ursuline Academy of Dallas Foundation, Inc. (Ursuline Foundation) has established a Planned Giving Program to receive such gifts and invites all interested donors to participate. All gifts and donations made to the Foundation help ensure the future growth of Ursuline Academy. Contributions of this type support the long-term financial stability of the school. Policies and procedures for gift acceptance are intended to provide guidance to prospective donors and their advisors when making planned gifts.

To recognize your thoughtful and generous plan, Ursuline welcomes you to the "Ursuline Society."

If you have already made a planned gift to Ursuline, we would like to know of your generous support of this type of gift. Please send a letter to Sr. Margaret Ann Moser, O.S.U., President of Ursuline Academy, indicating that you have made legal arrangements for a future gift to Ursuline and state the method you have selected. An alternative to a letter is to send an official copy of the section in the document.

Everybody has a unique and personal reason for giving, reflecting their individual charitable desires. Depending on the type of gift you choose, planned giving can provide you with some or all of the following benefits:

• An income stream for your lifetime
• Immediate or future year income tax deductions
• Conservation of your estate through reduction of estate taxes
• Reduction or elimination of capital gains tax on appreciated property
• The joy of knowing your gift will benefit Ursuline students

Types of planned gifts include:

Wills/Bequests
A will/bequest is an effective way for an individual to carry out his or her long-term objectives of caring for family while benefiting Ursuline. When planning an estate, a donor can consider an outright bequest to the Ursuline Foundation. Special statutory tax benefits are granted for charitable contributions.

Charitable Remainder Trusts
Charitable Remainder Trusts are established as a separate life income trust to provide either a variable or fixed income for the donor or the donor's designee, creating a charitable deduction for the remainder interest donated to Ursuline later. Transfers are exempt from capital gains taxes.

The Charitable Remainder Unitrust provides income for the donor or a designated beneficiary based on a payout rate as compared to the trust assets. Income from the trust continues for the rest of the donor's life, and in certain cases, may be passed on to a survivor. A donor may also establish an income interest for other individuals.

With a Charitable Remainder Annuity Trust, the required annual income distribution amount is predetermined and remains constant.

Gift Annuity
A gift annuity is a contract under which the Ursuline Foundation agrees to pay a fixed sum of money to one or more beneficiaries based on the Ursuline Foundation receiving cash or other property from a donor. With a gift annuity, the donor receives lifetime income. However, the donor could have the payments made to someone else - a sibling or parent, for instance. It provides an investment with a high-rate of return. Return rates increase based on the age of the donor.

Although gift annuities are most commonly established by retired individuals, they are sometimes used as a supplemental retirement plan by people who are still working. Those who are contributing the maximum allowable to their IRA, 401(k), 403(b), or other qualified retirement plan, may wish to accumulate more for retirement on a tax-sheltered basis. To do this, they contribute some excess income or other assets during their working years and arrange for payments to begin at retirement age.

Life Insurance
Donors can designate the Ursuline Foundation as the sole beneficiary or as one of the beneficiaries, of an existing or new life insurance policy, and potentially gain significant estate tax savings and tax deductions relating to the premiums. A donor may also irrevocably assign an existing policy to the Academy, qualifying for an immediate deduction for federal income tax purposes.

Real Estate
Ursuline may accept gifts of houses, residential or commercial real estate, office buildings, and undeveloped land. A donor can also make a gift of personal residence, reserving the right to live in the house. This type of gift is called a "Life Estate Contract" offering the donor a substantial charitable contribution deduction based on the value of the remainder interest in the residence.

Individual Retirement Accounts
Donors who have accumulated assets in their IRAs and plan to give them to their children may realize real estate and ordinary income taxes that may devour the majority of an IRA benefit before it even reaches their children. A donor can indicate the Ursuline Foundation as the death beneficiary for remaining funds in his or her IRA to capitalize on tax advantages.

Donor Responsibility:
A planned gift is an individual decision and Ursuline Academy asks you to consult with independent advisors regarding the best way to structure a planned gift.

Laws related to estates, planned giving, and tax consequences are subject to change by the Internal Revenue Service regulations and/or legislation on a national or local level. A professional advisor will know tax and legal regulations that can impact your planned gift.

For additional information contact:
Ursuline Academy Development Office
4900 Walnut Hill Lane
Dallas, Texas 75229
469-232-3585

Page last updated August 30, 2006