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 Your Will
The most frequent form of an estate gift to the Saint Luke Institute
is a specific bequest in a Will. In addition to providing critically
needed funds for the treatment of priests and religious who come
from poor and mission dioceses and communities, tax savings for
your heirs can result from this type of contribution, since bequests
to Saint Luke Institute qualify for an estate tax charitable deduction.
The drafting of your will should be arranged with
your attorney. Saint Luke Institute representatives are available
upon request
to confer with you and your attorney in drafting the appropriate
bequest clauses. To make a gift to Saint Luke Institute in your
will, your attorney may include the following simple statement:
I give, devise or bequeath to Saint Luke Institute,
Inc., a Maryland not-for-profit corporation, [(a stated dollar amount)
or (a specified
number of designated stocks
or bonds) or (all or ___% of the rest, residue or remainder of my estate
computed prior to provision for estate and death taxes)] to be used
by its Board of
Directors as it shall deem advisable to best promote the organization's
objectives.
You may also designate gifts through your will for
specific purposes such as the Saint Luke Institute Endowment Fund.
Please
contact Saint Luke Institute
if you would like additional information.
 Gifts of Insurance, IRAs and Retirement Accounts
Insurance policies may be donated by designating Saint Luke Institute,
Inc. as the beneficiary.
Individuals may also designate Saint Luke Institute as the beneficiary
of their Individual Retirement Account (IRA). Simply indicate Saint
Luke Institute, Inc. Tax ID# 52-1082730, as the beneficiary on the
IRA beneficiary form available through the plan administrator. If
you are at least age 70 and 1⁄2 you may be able to make a direct
gift from your IRA during your lifetime.
Gifts through Life Income Plans
Benefactors who wish to receive income during their lives while at
the same time providing a significant gift to Saint Luke Institute
should consider contributing through a life income plan. Life income
plans are irrevocable assignments whereby the donor, or designated
beneficiary, receives net income or fixed annuity payments for
their lifetimes with the principal passing to Saint Luke Institute
upon death.
There are two types of life income plans described
below: charitable remainder unitrust and charitable remainder annuity
trust. While
we include brief descriptions here, careful consideration should
be given to which of these plans best meets your individual goals.
- Charitable remainder unitrust: The donor
irrevocably transfers assets to a trust that pays him or her
an income for life
or a term of years.
You can also provide life income for another. You receive a
fixed percentage (that you select at the outset) of the fair market
value
of the trust assets, which are revalued annually. You receive
an income tax deduction, the amount of which depends on your age
in
the year you make your gift. Depending on how the funds are
invested, annual payments may be taxed as ordinary income or as
capital gains.
No tax is assessed on any payout from principal in excess of
the trust's capital gains. Upon the donor's death, or after the
term
of the trust has ended, the balance passes to Saint Luke Institute.
- Charitable
remainder annuity trust: This plan is created by irrevocably
transferring money or securities to a trust that pays you
a fixed dollar amount annually for life or a term of years. You
can
also
provide life income for another. Saint Luke Institute receives
the
remaining trust principal. You receive a sizable income tax
deduction in the year you make your gift, the amount of which depends
on
your age at the time of the gift. Depending on how the
funds are invested,
annual payments may be taxed as ordinary income or as capital
gains. No tax is assessed on any payout from principal in excess
of the
trust's capital gains.
For Further Information
If you have any questions, please contact:
Valerie A. Lapcinski, CFRE
Director, Development and Marketing
Saint Luke Institute, Inc. •
8901 New Hampshire Ave.•
Silver
Spring, MD 20903
 Tel: 301-445-7970 • Fax: 301-422-5400
valeriel@sli.org
Other
Ways to Give
Saint Luke Institute is a 501(c)(3)
organization, incorporated in Maryland. Donations are tax deductible
to the fullest extent allowed by law. The information contained
on this site is not intended as legal or tax advice and is provided
solely for informational purposes. Contributors should consult
their tax advisor regarding the tax deductibility of any gift
or pledge. A copy of our current financial statement is available
upon request by writing the Development Office at Saint Luke
Institute, 8901 New Hampshire Avenue, Silver Spring, MD 20903.
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