Ways of Giving to 
The Mary Louis Academy

Although most people first think of writing a check when making a contribution, there are other means of giving that offer tax savings, which can be of benefit both to the donor and to the school.

Generous friends of The Mary Louis Academy who provide for its future with deferred gifts are gratefully recognized as members of The Mary Louis Society.

Pledges

Pledges to the campaign are payable over a period of three years.  Pledges enable the donor to contribute a larger gift than would be possible to make in one year.

Securities

Appreciated securities are an attractive gift because they offer the donor an income tax deduction for the charitable gift and the avoidance of the capital gains tax that would be realized when the securities are sold. Gifts of securities are possible by placing the securities with a broker, bank, or agent to be held for the school.  Please notify the Office of Academy Advancement (718) 297-2120 ext. 263 regarding the gift intention, so that the securities can be transferred to the school. 

Matching Gifts

Some companies have a policy of matching current and/or retired employees charitable gifts to double (or more than double) the contribution. These programs are administered through each firms personnel office.

Life Insurance

The Mary Louis Academy may be named as the beneficiary of a policy or ownership of the policy may be transferred to the school.

Real Estate

Real estate can be an excellent gift because the donor may both claim an income tax deduction for the value of the gift and avoid paying a capital gains tax on the appreciation of the property.

Life Income Gifts

One can make a gift of cash, securities, or other assets to The Mary Louis Academy and receive both income for life and a charitable tax deduction in return. A variety of trust arrangements can facilitate such a gift. Upon the donors death (if a primary or secondary beneficiary is designated, at the death of a beneficiary or at another prearranged time), the trust terminates and the assets are transferred to the school.

Bequests

A bequest in a will is another means of contributing to The Mary Louis Academy. An individual may give either an item or other assets. Bequests meet the needs of many donors because they provide the school with a percentage of the estate that remains after payments are made to all other heirs.

Retirement Plans

At the death of the beneficiary, the remainder of a retirement plan is heavily taxed (at a rate of up to 91%). Such plans include 401(k) accounts, which are subject to income and excise taxes and may also be diminished by estate taxes. The bulk of the tax burden may be avoided if the remainder value of the plan is bequeathed to a non-profit organization such as The Mary Louis Academy.

All gifts to The Mary Louis Academy are tax-deductible according to law.  Donors should contact personal tax advisors regarding particular situations.

For information, please call the Office of Academy Advancement at 718 297 2120.

Carol A. Cooper, Director of Academy Advancement, marylouisacademy@aol.com
S. Peggy Conway, Associate Director of Academy Advancement pconway@tmla.org
Judy Belon, Assistant