Retirement Plan Assets - Xavier College Preparatory High School

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Consider a Donation of Retirement Assets

Retirement plan assets are a great way to support the work at Xavier College Preparatory High School because they not only help support the mission, but they also can provide tax relief for your loved ones.

Money in an employee retirement plan, IRA or tax-sheltered annuity has yet to be taxed. When a distribution is made from your retirement plan account to a beneficiary, that person will owe federal income tax.

Consider leaving your loved ones less heavily taxed assets and leaving your retirement plan assets to Xavier College Preparatory High School 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 the following ways:

Name us a beneficiary of your plan. This requires you to update your beneficiary designation form through your plan administrator. Here you can designate the University of San Diego 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.

With the IRA Charitable Rollover, if you are 70½ years old or older, you can take advantage of a simple way to help those we serve and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as Xavier College Preparatory High School without having to pay income taxes on the money.

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. 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 Xavier College Preparatory High School. This gift provides excellent tax and income benefits for you while supporting your family and our work.