Planned Giving

“Blessed are those that plant trees under whose shade they shall never sit.” -Hyacinthe Loyson

Planned Giving
A planned gift is a contribution arranged today that matures in the future. Most commonly created through a will or trust, planned gifts take many forms and can often increase your income, solve a family financial issue, or permit you to use a tax-disadvantaged asset to change students’ lives. Many generate tax benefits for the donor as well.

By including Oratory Prep in your estate plan, you express commitment to our school and ensure OP’s strength far into the future.

Planned Giving Benefits

You gain membership in Oratory Prep’s The Heritage Planned Giving Society.
You can touch lives and change lives for generations to come.
You can make a gift that often leaves your current cash flow and financial plan untouched.
You can use your IRA for charitable giving and leave your heirs more tax-advantaged assets.
You may be able to increase your income, use tax-disadvantaged assets, or donate an asset you no longer need.
You can designate your gift for a specific program, athletic team or department you wish to support.

Types of Planned Gifts

Bequests
You may make a gift to Oratory Prep by designating the school as a beneficiary via your will or codicil for a specific amount or a percentage of your total or residuary estate.

Gifts from Your Individual Retirement Account (IRA)
If you are at least 70½, you may direct the custodian of your IRA to make gifts directly to Oratory Prep. All such gifts up to $100,000 per year count against your federally-required annual minimum distribution but do not increase your taxable income. You receive no income-tax charitable deduction, but you use an asset that will be tax-disadvantaged if given to heirs. You may also use your IRA to make a once-in-a-lifetime gift of up to $50,000 to create a charitable gift annuity for yourself and a spouse.

Charitable Gift Annuities
With this gift, Oratory Prep pays one or two people a fixed income for life based on your age and the face value of your gift. A portion of your gift is tax-deductible, and the residual comes to Oratory Prep after you pass.

Charitable Remainder Trust
A charitable remainder trust provides you and others you name with income for life. After all beneficiaries pass, the remainder comes to Oratory Prep. You may use cash, appreciated securities, real estate, or other assets to work without immediately paying capital gains tax.

Gifts of Real Estate
Oratory Prep accepts gifts of marketable homes, vacant lots, vacation residences, and farms and can remove the headache of disposing of such properties. You can even gift your house or vacation residence and retain the right to live in it for the rest of your life. You avoid capital gains tax and receive a substantial income tax charitable deduction.

Charitable Lead Trusts
With a charitable lead trust you essentially “lend” assets to a trust to make payments to Oratory Prep for a number of years or the rest of your life. At the end of the trust period, the property placed in the trust either returns to you or is passed on to named individuals, typically children or grandchildren. Lead trusts are great estate planning tools and assist with gift tax avoidance.

Life Insurance Policy
You may name Oratory Prep as the beneficiary of a life insurance policy or donate an existing policy you no longer need with, Oratory designated as the beneficiary. We are happy to work with you and your insurance agent on the transfer.

Bargain Sales and Percentage Gifts
Oratory Prep is happy to collaborate on the school’s purchase of major marketable appreciated assets, a portion of which is a gift, if the purchase fits the school’s priorities. We are also pleased to accept marketable appreciated assets, when you donate a percentage of an asset to the school before you reach a sales agreement with any third party. We can calculate the percentage of the asset to donate to offset all or some of your capital gains.

A Special Request
If you have already included Oratory Prep in your estate plan, please complete the Estate Gift Confirmation Form and let us know of your planned gift intentions. Filling out the form ensures that the school will steward your gift properly through the years and acknowledge your gift properly during your lifetime.

You may scan and email the form to [email protected] or mail it to Oratory Prep School, 425 Morris Avenue, Summit, NJ 07901, Attn: Kevin Donnelly.

The Heritage Planned Giving Society
Members of The Heritage Planned Giving Society have made a special commitment by naming Oratory Prep as the beneficiary of a planned gift.

Planned Giving & Membership Benefits

You can make a meaningful gift to Oratory Prep that costs you nothing during your lifetime.
You can make a gift with appreciated assets and save taxes, leaving your current financial plan unchanged.
Your membership in The Heritage Planned Giving Society includes recognition on our website, a subscription to our newsletter and invitations to special events.
By joining this Society, you will not only be leaving a lasting legacy to your alma mater, but you will also inspire fellow classmates and friends to contribute to the future of OP!

We would like to acknowledge and thank you for including Oratory Prep in your estate plans. Once we are aware of your planned giving intentions and receive the Estate Gift Confirmation Form, your name will be listed on our website as a member of the Society. If you wish to remain anonymous you may note that on the form. To view the members of The Heritage Planned Giving Society, please click here.