As you consider your gift to Connelly, you may wish to choose one or more of the following giving opportunities.
I would like to maximize my charitable deduction.
Cash gifts are always appreciated and are tax-deductible to the full extent of the law. A cash gift is the easiest charitable donation, but may not provide as many tax advantages as a gift of appreciated securities. You can help Connelly through your donation or pledge.
My company matches my charitable donation.
Many companies will double or triple your contribution to Connelly. Consult your human resources or community relations office to find out if this program is available.
I have highly appreciated property and wish to minimize capital gains tax liability.
By making an outright gift of appreciated securities to Connelly, the donor avoids capital gains tax in addition to an income tax deduction for the current full market value of the securities on the date of the gift.
If you own stock or mutual fund shares that have appreciated in value, you can transfer these shares to Connelly and not have to pay any capital gain tax on your "paper profit." You can also take a federal income tax charitable deduction for the full appreciated value of the securities, subject to some limitations, if you have held them for more than one year.
Cornelia Connelly School prefers to accept gifts of stock that have been electronically transferred into the school's Morgan Stanley Account. Authorization to Wire Stock
Please have your broker call the school's agent at Morgan Stanley with your name, the type and number of shares, and the purpose of the gift: Contact: Thomas Kleinbauer, Morgan Stanley (Santa Ana Office) (714) 836-5181.
Your broker will need the following information to transfer the securities:
DTC (electronic transfer account): #0015
Connelly's Morgan Stanley Account: #242-017286-050
In order to properly credit your gift with the school, have your broker inform the Business Manager at Connelly about this transfer by calling (714) 776-1717 ext. 226.
I wish to make a gift in honor of a loved one.
Connelly gratefully recognizes gifts made in memory or honor of a friend, family or faculty member, or to acknowledge a birthday, graduation, anniversary or other significant event.
I would like to make a gift a furniture or supplies.
Donations of furniture, equipment, supplies or services relieve pressure on the school budget by providing resources without capital outlay. Used items in good condition can be put to use in many areas of the campus.
I wish to make a gift that will not affect my assets or income now.
Exceptional benefits can be realized by the donor when making a planned gift. In a variety of ways, you can make a planned gift that does not deplete lifetime assets and, in some cases, furnishes additional income and significant tax deductions while still providing for your heirs and helping Cornelia Connelly School.
The simplest method is to remember Connelly in your will. Other vehicles include trusts, annuities and gifts of real property. If you have included Connelly in your estate plan, please notify the Development Office so we can add your name to our Legacy Society.
1. Retirement Plan - You can name Cornelia Connelly as the beneficiary of all or a portion of your retirement plan, such as a 401(k), 403 (b), IRA, or Keogh. The most tax-efficient way to make a bequest to the school is to make the school the residuary beneficiary. Your estate will benefit by saving on the income taxes due and the federal estate taxes.
2. Bequest - A bequest is the easiest form of estate giving. This form of giving may take the form of a percentage of the estate, a dollar amount, the residue of an estate or a specific named asset.
3. Creating Your Will - Easy as ABC
Many people find it easy to delay making a will. They find it easy to procrastinate because they think estate planning is hard. But really, it's not all that difficult, at least in most cases. In fact, creating a will can be as simple as ABC!
Assets - Begin by making an inventory of all your assets: insurance, bank and brokerage accounts, artwork, real estate, and vehicles, everything you own. Once you have the list, estimate the value of your assets and then deduct any debts you may have. This will give you a rough idea of the total value of your estate.
Beneficiaries - Who do you want to receive your assets? First, consider family needs and obligations. Then review your charitable involvements and how a bequest could benefit them, and create a lasting legacy for you.
Confidants - Choose trustworthy persons to provide legal and other professional assistance, as well as a personal representative to help settle your estate. You may also need to select one or more trustees and guardians for any minor children.
Once you have listed and valued your assets, selected the beneficiaries for your estate, and have chosen the key persons to assist you now and after your death, it is time to act. Don't delay. Contact an estate-planning attorney right away and move forward.
If you need help finding a good attorney, ask your friends for suggestions or contact the trust department of a local bank for a referral. Ask around until you find someone you feel good about. If you wish, we will assist you in this process.
While creating a will is easier than you might have thought, it will take some time. But the end result is worth it. You will be well rewarded with a deep sense of satisfaction . . . and peace of mind.
For more information on Planned Giving Opportunities, please contact the Development Department at (714) 776-1717.