Not everyone wants to commit to making a gift in their wills or estates. Some prefer the increased flexibility that a beneficiary designation provides by using:
- IRAs and retirement plans
- Life insurance policies
- Donor advised funds
- Commercial annuities
It is very simple to name Saint Joseph Academy as a beneficiary. Start by requesting a change-of-beneficiary form from your policy administrator or download the form from your provider's website. Make your desired changes and return the form to establish your gift.
See How It Works
An Example of How It Works
Robert and Carol treasure the financial help they've been able to provide to their children and the Academy over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left Saint Joseph Academy a $75,000 IRA to be transferred following their lifetime. Because Saint Joseph Academy is tax-exempt, all $75,000 will help support our mission.
If Robert and Carol had left the IRA to their children, approximately $18,000* would have gone to pay federal income taxes—leaving only $57,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.
*Based on an assumption of a 24 percent marginal income tax bracket.
- Contact the administrator of your retirement plan, insurance policy or bank account for a change-of-beneficiary form, or simply download a form from your provider's website.
- Decide what percentage (1 to 100) you would like Saint Joseph Academy to receive and name us, along with the percentage you chose, on the beneficiary form. Return the completed form.
- Contact Constance S. Sipple, CFRE at 216.671.0166 or firstname.lastname@example.org to let us know your goals for the gift so we can ensure it is used as you intend.
Legal name: St. Joseph Academy
Address: 3470 Rocky River Drive, Cleveland, OH 44111
Federal tax ID number: 34-1618516
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