Planned Giving is a set of ways that you can leave money or other assets to Cedar Valley Catholic Schools upon your death. It is also a way to invest money so you receive benefits during your life and then bequeath the remaining funds to CVCS. Your generosity and thoughtful pre-planning will help maintain a quality, faith-based education for students in the Cedar Valley.
The CVCS Legacy Society honors individuals and families who have made a planned gift or endowment gift to our school system. The generosity and thoughtful planning of Legacy Society members are recognized in the following ways:
Charitable Gift Annuity This giving option is an irrevocable transfer of money, securities or property in exchange for a contract to pay the donor an annuity for life. Because the value of the property exceeds the value of the annuity, there is a partial gift to CVCS.
Charitable Life Insurance The donor is named the insured and the charity is the owner and beneficiary. Premiums paid by the insured are tax-deductible, and the death benefit goes to CVCS. Ownership of existing policies can be transferred to CVCS. The current cash value would be tax-deductible.
IRA Beneficiary You can designate that a certain percentage of your death benefit proceeds be given to CVCS. If you have an existing IRA, this can be accomplished by making a beneficiary change. The opportunity includes 401(k) plans, traditional IRAs and Roth IRAs.
Life Insurance Beneficiary Designate a certain percentage of your death benefit proceeds be given to CVCS. If you have an existing life insurance policy, this can also be done by making a beneficiary change.
Sample Wording and Beneficiary Designations The following sample language can help you define and execute your charitable intentions for making gifts by will, trust or beneficiary designation. Share this information with your estate planner or attorney. These provisions can be added to an existing will by creating a codicil (amendment).
General Bequests I give and devise to the Cedar Valley Catholic Schools, Waterloo, Iowa, a nonprofit corporation organized under the laws of the state of Iowa, all (or a percentage of ____%) of the rest, residue and remainder of my estate, both real and personal, to be used at the discretion of its governing board.
I instruct that all my charitable gifts to be made, to the extent possible, from property that constitutes “income in respect of a descendent” that the term is defined in the Internal Revenue Code.
Specific Bequest – Money I give and bequeath to the Cedar Valley Catholic Schools, Waterloo, Iowa, a nonprofit corporation organized under the laws of the state of Iowa, the sum of $________ (or the specified percentage of _____%) of the rest, residue and remainder of my estate, both real and personal, to be used at the discretion of its governing board.
To learn more, contact CVCS Advancement Office at email@example.com or by calling 319-232-1422.
Donors should always consult their tax advisor to determine tax ramifications prior to making a gift to charitable organizations. Cedar Valley Catholic Schools does not give tax advice. Information in this website is for hypothetical purposes and is not intended as legal advice.