Interested in helping Mount St. Mary’s College with our mission but feel overwhelmed by the thought of writing another check or giving up your assets today? A simple, flexible and versatile way to ensure we can continue our work for years to come is a gift in your will or living trust, known as a charitable bequest.
By including a bequest to Mount St. Mary’s College in your will or living trust, you are ensuring that we can continue our mission for years to come. Your gift also entitles your estate to an unlimited federal estate tax charitable deduction.
Kathleen Arn Checchi '63 attended Mount St. Mary's thanks to a scholarship. After college, she developed a passion to give back to her alma mater in a way that would have a significant impact on Mount students.
During Kathy's career as a teacher, she had a bright student who aspired to attend the Mount. Despite this student's aptitude, she was unable to attend the Mount because of financial problems. Her memory of this particular student was one factor in her decision to leave a bequest to MSMC through her revocable living trust that will lend scholarship support the Mount and the students.
See How It Works
Learn How to Fund It
You can use the following assets to fund a bequest:
Contact Cindy F. Hizami at 213.477.2740 or email@example.com for additional information on bequests or to chat more about the different options for including Mount St. Mary’s College in your will or estate plan.
Seek the advice of your financial or legal advisor.
If you include Mount St. Mary’s College in your plans, please use our legal name and Federal Tax ID.
Legal Name: Mount St. Mary's College Address: 10 Chester Place Los Angeles, CA 90007
Federal Tax ID Number: 95-1641455
Ready to start planning today? View and download your FREE copy of A Guide to Making Your Will: Direct Your Assets to the People and Causes You Care About Most.
A charitable bequest is one or two sentences in your will or living trust that leave to MSMC a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.
an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan
“I, [name], of [city, state ZIP], give, devise and bequeath to Mount St. Mary’s College [written amount or percentage of the estate or description of property] for its unrestricted use and purpose.”
able to be changed or cancelled
A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.
cannot be changed or cancelled
tax on gifts generally paid by the person making the gift rather than the recipient
the original value of an asset, such as stock, before its appreciation or depreciation
the growth in value of an asset like stock or real estate since the original purchase
the price a willing buyer and willing seller can agree on
The person receiving the gift annuity payments.
the part of an estate left after debts, taxes and specific bequests have been paid
a written and properly witnessed legal change to a will
the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will
A donor-advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much money (and how often) you want to distribute money from that fund to MSMC or other charities. You cannot direct the gifts.
An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.
Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.
Securities, real estate, or any other property having a fair market value greater than its original purchase price.
Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.
You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.
You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to MSMC as a lump sum.
You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to MSMC as a lump sum.
A beneficiary designation clearly identifies how specific assets will be distributed after your death.
A charitable gift annuity involves a simple contract between you and MSMC where you agree to make a gift to MSMC 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.
To avoid the administrative hassles of selling real estate during your lifetime, give it to us through a bequest.
A portion of the distributions from commercial annuities is subject to income tax for non-charitable beneficiaries. Naming MSMC as a beneficiary of all or a portion of your commercial annuity will allow us to receive the assets you designate to us completely tax-free.
The full value of your IRA, 401(k), 403(b) or other qualified plans is subject to federal and state estate taxes at your death and the distributions from these accounts are subject to federal and applicable state income taxes. Instead, consider naming MSMC as a beneficiary of all or a portion of your plan.