Planned Gifts

You have the power to make a lasting impact on Notre Dame Academy through a planned gift.  These types of charitable arrangements let you support our programs far into the future while also providing tax and other financial benefits to you. There are many options that provide the donor with income payments and also a charitable deduction.

All of these gifts help to ensure a future for NDA. For information regarding planned gifts to NDA, please contact the Vice-President of Donor Relations Tolani Afolabi at tafolabi@nda.org or 419.724.2640.

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Alumnae who have established their own planned gift

Ms. Angela Schiebel’s, ’36 Legacy Became a Transformational Gift for Young Women. Thanks to her significant bequest, Ms. Schiebel leaves a legacy that will touch thousands of young women!

Through a gift in her will, Ms. Schiebel helped endow the International Baccalaureate Program (IB) that now has touched already over 200 young women who are participating or planning on participating in the program. IB is an academically-rigorous University preparatory program that runs through the junior and senior years of high school. The program aims to develop critical thinking skills, research skills, and international-mindedness: an ability to respect those different from oneself, and a desire to make a difference in the world. NDA is the only school in northwest Ohio to offer this prestigious program.
Dr. Marian Rejent ’38 paved the way for today’s young women and now is leaving an even deeper legacy with an endowed scholarship.

Dr. Rejent is helping to shape tomorrow’s global students of science with an endowed scholarship through her bequest to NDA. “In the years to come, there will be young women who demonstrate an aptitude for, and interest in, the pure or applied sciences who will benefit from the thoughtfulness of Dr. Rejent,” explained Sr. Mary Ann Culpert, SND ’75, President.”Her love of science and her example of perseverance and dedication will live on through the young women who are the recipients of the Dr. Marian Rejent Endowed Scholarship.”

The heritage society

The Heritage Society recognizes individuals who have provided for the future of Notre Dame Academy through a planned gift with a bequest, a trust, an insurance policy, a charitable remainder trust, or other means. These gifts are important to securing the mission and legacy of Notre Dame Academy, as they provide long-term support for its mission of educating young women in a Catholic environment.
Many alumnae and friends find this type of gift is an excellent choice for those who would like to provide for the future, but find they cannot currently contribute as they would like.

If you would like to discuss becoming a part of the Heritage Society, please contact the Vice-President of Donor Relations Tolani Afolabi at tafolabi@nda.org or 419.724.2640.

Planned giving terms

Bequest – A gift received after death generally received through a donor’s will or other estate-planning document (such as a living trust).

Charitable Remainder Trust (CRT) – Created to hold assets (usually highly appreciated) that produce an income stream to you (or other selected beneficiary), for the rest your life or a period of years. At the termination of the trust, the remaining trust assets (“the charitable remainder”) are transferred to a non-profit.

Endowment – A gift that is intended to be kept permanently and invested to generate income for charitable purposes. Houses planned gifts received by the organization.

Life insurance – Name a charity as beneficiary on a life insurance policy   The simplest way to use life insurance to give to charity is to name a charity as beneficiary on a life insurance policy. Designating the charity as beneficiary allows donor to make a larger gift than they could otherwise afford. (no immediate tax benefit)

Life insurance – Donate an existing life insurance policy to charity   Donor assigns all rights in the policy to charity. Donor delivers the policy itself to charity and gives up control of the life insurance policy forever. Because transfer of ownership is irrevocable, this provides some tax advantages.

Outright gift – A contribution of cash or property in which donor retains no interest and can be used right away by charity.

Planned Giving/Gift Planning – The planned transfer of an individual’s or a couple’s assets to a charity during their lifetime or upon their death.  May provide immediate or deferred tax benefits.

Retained Life Estate – A life estate contract enables you to give your farm or personal residence (can include a vacation home) to a charity and retain lifetime use of it for yourself, your spouse and/or another beneficiary.

Retirement assets – Assets such as a retirement plan, 401(k), 403(b), IRA, Keogh, or other qualified pension plans. Designating the charity as beneficiary allows the donor to make a gift to a charity of their choice upon death that may carry additional tax benefits.

Will – The most basic instrument used to distribute an asset, also called Last Will and Testament. A will is a legal document that spells out the disposition of a person’s assets after death. It is governed by state law and is the most basic element of an estate plan.

Thank you for considering Notre Dame Academy in your estate planning.  We encourage you to share the following suggested bequest language with your attorney as your prepare or revise your will.

Unrestricted Bequest
“I give and bequest to Notre Dame Academy, in Toledo, Ohio, the sum of xxx dollars.  This gift shall be used to further the educational mission of Notre Dame Academy in such a manner as the Board of Trustees of the school may direct.”

You might choose to replace “the sum of xxx dollars” with one of the following:
– “xx percent of my adjusted gross estate”
– “all the rest, residue and remainder of my estate”
– “xx percent of my residuary estate”

Bequest Restricted for Endowment
“I give and bequeath to Notre Dame Academy, in Toledo, Ohio, the sum of xxx dollars to create an endowed fund to be named xxx, which shall be invested as the Board of Trustees of the school may deem best.  Distributions from the endowed fund shall be made each year in accordance with the spending policies of the school and shall be used for scholarships (or faculty compensation, or the study of the sciences, or another broad priority) at Notre Dame Academy.  The fund, for purposes of investment, may be combined with other funds of Notre Dame Academy, but the fund shall be separately accounted for.”

If you are interested in endowing a chair, a scholarship, or other named fund, please contact Sr. Mary Ann Culpert, SND ‘75 (see below) for criteria including gift minimums.

Again, you might choose to replace “the sum of xxx dollars” with one of the following:
– “xx percent of my adjusted gross estate”
– “all the rest, residue and remainder of my estate”
– “xx percent of my residuary estate”

Codicil to Last Will and Testament
If your estate planning documents are up to date, you can simply draft a short codicil or amendment to the existing document, using this or similar language:

“I, Sharon Smith, hereby amend my Last Will and Testament, executed on the 10th day of May in the year 2014.  I direct that all provisions of that Will remain in effect but in addition direct that Notre Dame Academy, in Toledo, Ohio, shall receive the sum of xxx dollars to be used to further the educational mission of the school in such a manner as the Board of Trustees of the school may direct.”

Savings Clause
We recommend that restriction on gifts be stated in broad and flexible terms, since the school’s specific needs may change over time.  If your bequest is restricted for a particular purpose, we ask that you incorporate a “savings clause,” which might read as follows:

“If at the time this bequest is received by Notre Dame Academy, or any time thereafter, the Board of Trustees of the school determine that all or any part of the bequest can no longer be utilized to best advantage for the institutional purpose designated therein, then all or any part of the bequest may be used for such other institutional purposes which, in the sole discretion of the Board of Trustees, shall most closely carry out my intention.”

The director of planned giving at Notre Dame Academy can consult with you and your advisors about particular language for wills or trusts. For information regarding planned gifts to NDA, please contact the Vice-President of Donor Relations Tolani Afolabi at tafolabi@nda.org or 419.724.2640.