Retirement Plan Assets
Do you have money saved in an employee retirement plan, IRA or tax-sheltered annuity? Each of these plans contains income that has yet to be taxed. When a distribution is made from your retirement plan account, your beneficiaries will owe federal income tax. Consider leaving your loved ones less heavily taxed assets and leaving your retirement plan assets to Jesuit High School of New Orleans to support our work.
As a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate to us from your plan. You can take advantage of this gift opportunity in several ways:
Name us a beneficiary of your plan. All this requires is updating your beneficiary designation form through your plan administrator. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your plan only if your primary beneficiary doesn't survive you.
Fund a testamentary charitable remainder trust. When you fund a charitable remainder trust with your heavily taxed retirement plan assets, the trust will receive the proceeds of your plan upon your death. The trust typically pays income to one or more named beneficiaries for life or for a set term of up to 20 years, after which the remaining assets in the trust would go to support Jesuit. This gift provides excellent tax and income benefits for you while supporting your family and our work.
A donor advised fund. When retirement plan assets pass to your heirs, distributions are taxed as ordinary income. This income tax burden can be substantial, greatly reducing the value of the intended gift. Instead, you can designate your donor advised fund as the beneficiary of all or a portion of your retirement plan assets. Your fund receives the full amount of the gift and bypasses any federal taxes.
See How It Works
- Contact Tom Bagwill at (504) 483-3841 or firstname.lastname@example.org for additional information.
- Seek the advice of your financial or legal advisor.
- If you include Jesuit in your plans, please use our legal name and federal tax ID.
Legal Name: Jesuit High School of New Orleans
Address: 4133 Banks St., New Orleans, LA 70119
Federal Tax ID Number: Jesuit High School is a 501(c)(3) non-profit educational institution. Jesuit’s Tax I.D. # 72-0467510. Tax receipts are mailed at the beginning of the calendar year to donors who contribute $250 or more.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.