Year-end charitable giving can have a positive impact on your tax situation, your overall estate plan, and ultimately our community by supporting students at Joliet Catholic Academy. If you are considering a gift to support our current Angels and Hilltoppers, here are some tips from the JCA Development office:
1. Support JCA’s Annual Appeal
The Annual Appeal is the foundation of fundraising to maintain academic achievement within our school. The school community of parents, alumni, faculty/staff, and friends contribute financially to help bridge the gap between the cost to educate a student and the cost of tuition. JCA’s tuition covers only 86% of the actual cost of educating a student. As a faith-based school our mission is to limit tuition increases for all families. Donors can designate to specific funds such as tuition assistance, the school’s greatest need, or their specific interest. Make sure checks are dated and postmarked no later than December 31, 2023. JCA also offers the Annual Appeal via an easy to navigate and secure online giving website:https://www.jca-online.org/annual-appeal/
2. Planned Giving – JCA’s Legacy Circle; Giving from Assets, not Income
The vast majority of wealth for most people is in their asset base – homes, retirement accounts, non-retirement securities portfolios, life insurance, etc. – as opposed to their income stream. Giving from one’s non-cash asset base generally has much greater tax advantages than donating cash. The simplest way to donate from your asset base is through a bequest in your will or trust. Gifting long-term appreciated stock is a great, tax-efficient way to give today. There are even ways to create an income stream for life, receive a tax break today, and make a major gift to Joliet Catholic Academy.
Bequests, charitable trusts, life insurance, retirement assets, and the like – can play an enormous role in establishing or growing scholarship funds and/or JCA’s endowment. For many benefactors it is easier to leave $10,000 or $25,000 or $100,000 in a bequest gift than to make an outright gift, for example. Planned gifts can significantly boost the principal amount of scholarship funds over time.
Documented planned gift intentions to JCA are recognized by the benefactor’s inclusion in JCA’s Legacy Circle, which includes over 50 alumni and friends who have left a piece of their legacy to JCA.
I ask you to join JCA as a donor. Ensure that this legacy of excellence in education provided by the Sisters of St. Francis of Mary Immaculate in our community since 1869, the Carmelites since 1933, and together as Joliet Catholic Academy since 1990 continues on. This is a BIG, BOLD MISSION rooted in a simple belief that every child should have access to high quality educational options.
Please contact the JCA Office of Institutional Advancement at rquigley@jca-online.org or (815) 741-0563 for more information about the benefits of supporting JCA.
Continued Blessings,
Ryan Quigley ‘03
Director of Institutional Advancement
Every gift made to Joliet Catholic Academy is deeply appreciated and will make a difference in the life of a student. Your generosity and stewardship allow our students the opportunity to realize their dreams and we cannot do it without the support of our donors. In order to contribute to Joliet Catholic Academy in a way which will fit your personal budget, we invite you to consider the following options:
Give Online
Click here for the most convenient and expeditious process for making an online gift. You can make a one-time donation or sign up for a monthly, quarterly, twice yearly, or yearly recurring gift.
Cash Gifts
A gift of cash (or check) is the simplest and most immediate way to give to Joliet Catholic Academy. Gifts should be made payable to Joliet Catholic Academy and mailed to:
Joliet Catholic Academy
Development Coordinator
1200 N. Larkin Avenue
Joliet, IL 60435
Matching Gifts
Matching gifts are an easy way to double or even triple your donation to Joliet Catholic Academy. Simply obtain a matching gift form from your employer, fill it out, and provide it to JCA with your contribution.
Memorial and Honorary Gifts
A gift in memory or honor of someone you love or admire can be a particularly meaningful way to contribute to Joliet Catholic Academy.
In-Kind Giving
In-kind gifts are professional services or goods made directly to Joliet Catholic Academy. If these goods or services are ones that we would otherwise have to purchase, the gift may be recognized for tax purposes at the fair market value. Click here for In-Kind Gift form.
Income Gifts
Charitable Gift Annuity – Gifts That Pay You Income
There is a way for you to support The Joliet Catholic Academy Endowment and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity.
With a charitable gift annuity you agree to make a gift to The JCA Endowment and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life. The balance is used to support our work.
This type of donation can provide you with regular payments for life and allow The JCA Endowment to further our mission. You can also qualify for a variety of tax benefits depending on how you fund your gift.
If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.
And now, you can fund your gift using your IRA assets. If you are 70½ and older, you can make a one-time election of up to $53,000 to fund a gift annuity. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and count toward all or part of your required minimum distributions.
Charitable Remainder Trust –
If you have built a sizable estate and also are looking for ways to receive reliable payments, consider a charitable remainder trust. This type of trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create. At the end of the trust term, the balance in the trust goes to The Joliet Catholic Academy Endowment.
These types of gifts may offer you tax benefits and the option for income. There are two ways to receive payments and each has its own benefits:
The annuity trust pays you, each year, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments.
The unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.
Class Gifts
Class members can join together to support their alma mater through a class gift. Recent reunion classes have donated excess monies back to the school in honor of a person or program dear to their hearts.
Planned Giving – Join the JCA Legacy Circle
Naming Joliet Catholic Academy as a beneficiary in your will ensures the formation of young people will continue well beyond your lifetime. Click Here to download the JCA Legacy Circle Planned Gift Declaration Form.
Gifts of Securities
A gift of securities, stocks or bonds entitles the giver to an income tax deduction; a gift of appreciated securities may also reduce a capital gain tax liability to the donor. In order to donate securities to the JCA account, please provide your broker with the following information:
Edward Jones
735 Essington Road, Suite 101
Joliet, IL 60435
DTC #0057
Account #5330776310
Real Property
Joliet Catholic Academy will receive gifts of real estate; including land, personal residences and commercial properties under certain circumstances.
Gifts of Life Insurance
Life insurance is a practical and affordable way for you to do more that you may have thought possible with tax benefits you can enjoy during your lifetime.
Gifts of Endowment
When you establish an endowment or contribute to an existing endowment, you are truly making a gift with a future. Your endowment gifts guarantee that financial support will remain readily available for the future needs of Joliet Catholic Academy and its students.
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