Turn Your Gift into an Opportunity

If you would like to extend your support of Belen Jesuit to make a lasting impact, there are several gift arrangements to choose from.

Whether you would like to put your donation to work today or benefit us after your lifetime, you can find a charitable plan that lets you provide for your family and support Belen.

Types of Planned Giving

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  • Bequests

    Your will, like many items, can become outdated. Here are some circumstances that make it vital to update your will:
    • The estate tax laws change
    • You want to name a different personal representative, trustee or guardian.
    • Your estate has increased or decreased significantly.
    • You've moved to another state.
    • Your situation or a beneficiary's situation has changed due to factors such as marriage, divorce, birth, adoption or death.
    • You decide to benefit a deserving organization. You can choose the assets to donate and the guidelines that are to be used to award them, and much more.

    To update your will, obtain a copy of the latest version, mark the necessary changes, and then meet with your estate planning attorney to review everything. A charitable bequest may take any of several forms that include the following text language examples:
    • A specific bequest is a gift of a specific dollar amount or a particular asset: “I give to Belen Jesuit Preparatory School located at 500 SW 127th Avenue, Miami, FL 33187, # of shares of XYZ stock, to be used for the benefit of said school in such a manner as the school President may direct.”
    • A general bequest is a gift payable out of the general assets of your estate: “I give to Belen Jesuit Preparatory School located at 500 SW 127th Avenue, Miami, FL 33187, an amount equal to five percent (5%) of my adjusted gross estate, to be used for the benefit of said school in such a manner as the school President may direct.”
    • A residuary bequest is a gift of the rest of your estate remaining after all debts, taxes, expenses, and other bequests have been paid: “I give to Belen Jesuit Preparatory School located at 500 SW 127th Avenue, Miami, FL 33187, the rest, residue and remainder of my estate, to be used for the benefit of said school in such a manner as the school President may direct.”
    • A contingent bequest takes effect only upon the occurrence or non-occurrence of a particular event: “In the event my wife does not survive me, I give the sum of $ XXXX to Belen Jesuit Preparatory School located at 500 SW 127th Avenue, Miami, FL 33187, to be used for the benefit of said school in such a manner as the school President may direct.”
    • A bequest of personal property is a gift of personal property and household contents: “I give to Belen Jesuit Preparatory School located at 500 SW 127th Avenue, Miami, FL 33187, all of my personal property, whether for personal or household use or otherwise, to be used for the benefit of Belen Jesuit Preparatory School.”
    • A restricted bequest is used to support a particular program or area of interest. For any restricted bequest, it is important that you or your legal advisor discuss your plans with Belen prior to completing your estate plan: “I give to Belen Jesuit Preparatory School located at 500 SW 127th Avenue, Miami, FL 33187, (insert sum or description of property) to be used for (describe the primary purpose – such as financial aid, technology, etc.). Use general language, so the restriction does not prevent the school from applying the gift in the most efficient way. If it is determined by the school President that all or part of the gift is no longer needed, or if it cannot be used as intended, then the gift may be used for other related purposes, which the school President deems to be in the best interests of the school, giving consideration to the original intent described above.”
  • Charitable IRA Rollover

    You can make lifetime gifts using funds from your individual retirement accounts (IRAs) through the current year without any undesirable tax effects. If you want to support our mission, we hope you'll consider making this type of IRA gift that can be accomplished simply and without tax complications, while you are living and able to witness the benefits of your generosity.

    You may contribute funds this way if:
    • You are age 70½ or older at the time of the gift.
    • The gifts do not total more than the maximum allowed by law.
    • You transfer funds directly from an IRA.
    • You make the gifts to qualified public charities. This excludes gifts made to charitable trusts, donor advised funds, charitable gift annuities, and supporting organizations.
    • You can make a gift from your IRA even if you do not have to take a required minimum distribution in 2009.

    Example:
    Robert, 80, has $450,000 in an IRA and made a pledge to give Belen $75,000 this year. If Robert transfers $75,000 from the IRA directly to us to satisfy the pledge, he will avoid paying income tax on $75,000. However, Robert will not be able to use it as a charitable deduction. This is an easy and convenient way for him to benefit Belen without tax complications. Contact your IRA custodian for the forms necessary to transfer your desired gift amount directly to Belen Jesuit Preparatory School.
  • Trusts

    Charitable Remainder Trusts (CRT’s)
    Charitable remainder trusts allow you to place almost any asset into a trust, while providing income to yourself and others. The income can continue for the lives of the beneficiaries you designate, for a fixed period of time (not to exceed 20 years), or for a combination of both. When the terms of the trust end, the remaining assets are added to the Belen endowment. Usually, highly appreciated assets, such as real estate or securities, are transferred to the trust, avoiding current capital gains tax. Trust assets are then usually sold and reinvested in different asset classes that provide the needed cash flow to meet the income payout requirements. There are two basic types of payouts: one that is a fixed (annuity) payment; and one that is a stated percentage of the trust assets value as evaluated annually (resulting in variable payments). You will receive a charitable contribution income tax deduction based on your life expectancy, payout rate chosen, and current interest rates. Additionally, you may reduce your estate taxes liability, or may actually increase your income on low yielding assets.

    Charitable Lead Trusts (CLT’s)
    A charitable lead trust is essentially the opposite of a charitable remainder trust. The income from a lead trust is used to pay a fixed amount annually to Belen Jesuit (instead of you or a designee), and when the trust terminates, the assets are distributed back to you or your heirs. In effect, this is a way to let Belen borrow the asset, receive the income for a stated period, and then give back the asset to your heirs. You receive a charitable income tax deduction in the year of the gift, or the trust can receive charitable income tax deductions annually. Eventually, the balance of the assets (with any appreciation) pass to your children or descendants with a considerable estate and gift tax savings. This type of trust is an excellent way to avoid income tax charitable deduction limitations.

    Life Insurance
    Quite often, individuals find that they have more life insurance than they really need. For example, their children may be grown, and life insurance that was intended to provide education funds is no longer needed. A gift of a life insurance policy, one that is paid up, or one with premiums still due, makes a very good charitable gift. This gift can easily be made by naming Belen Jesuit Preparatory School as both the beneficiary and owner of the policy. Normally, your charitable deduction will be approximately the cash value of the insurance policy at the time of the gift. Some donors even purchase a new policy to give to the school.

Contact Us

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BELEN JESUIT PREPARATORY SCHOOL
500 SW 127th Avenue, Miami, FL 33184
phone: 305.223.8600 | fax: 305.227.2565 | email: webmaster@belenjesuit.org
Belen Jesuit Preparatory School was founded in 1854 in Havana, Cuba by Queen Isabel II of Spain.  The task of educating students was assigned to the priests and brothers of the Society of Jesus (the Jesuits), whose teaching tradition is synonymous with academic excellence and spiritual discipline.  In 1961, the new political regime of Cuba confiscated the School property and expelled the Jesuit faculty.  The School was re-established in Miami the same year, and over the next decade, continued to grow.  Today, Belen Jesuit sits on a 30-acre site in western Dade County, only minutes away from downtown Miami.