Planned Giving
For generations, loyal alumni and friends have played a pivotal role in shaping Holy Cross School’s legacy—ensuring that our mission to form young men of faith, integrity, and service endures well into the future. Through thoughtful estate planning and tax-wise asset transfers, our benefactors not only support our school’s continued excellence, but also realize significant financial advantages for themselves and their families.
Leave a Legacy: Include Holy Cross School in Your Estate Plans
A planned gift is a powerful way to make a lasting impact on our school’s mission while meeting your own financial and philanthropic goals. By including Holy Cross School in your estate plans, you may reduce your taxable estate, manage your assets effectively, and maintain financial flexibility during your lifetime.
There are several meaningful ways to make a planned gift to Holy Cross:
- Make a bequest of cash, securities, or other property
- Designate a fixed dollar amount, a specific asset, or a percentage of your estate to Holy Cross School
- Provide for Holy Cross School in your residuary estate, after your loved ones have been cared for
- Name Holy Cross School as a contingent insurance beneficiary, ensuring your legacy if other beneficiaries do not survive you
Choosing to leave a percentage of your estate offers a flexible option that adjusts with your estate’s value—ensuring your intentions are honored no matter the circumstances.
Your legacy can help ensure that future generations of young men—regardless of background—continue to benefit from the life-changing education that Holy Cross School provides.
This information is not intended as legal or tax advice. Please consult your attorney or financial advisor to determine the best approach for your personal circumstances.
Sample Bequest Language
Here is a sample bequest language to review with your attorney:
I hereby give, devise, and bequeath ( _______ dollars) or (a specific asset, such as securities, real estate, or other property) or ( __ percent of the rest, residue, and remainder of my estate) to Holy Cross School, a nonprofit organization located at 5500 Paris Avenue, New Orleans, Louisiana 70122, Federal Tax ID # 72-0456902, for Holy Cross School’s general use and purpose.
Using a Codicil to Make a Bequest
You may also utilize a codicil to add a bequest and modify your Will without preparing a whole new one. It must be executed with the same conventions as required for the execution of the Will to be valid. Those conventions (e.g., witnesses, notary) will vary depending on the state in which you are a resident. Please refer to your attorney to determine the best plan of action for your family.
A gift of unused retirement assets—such as an IRA, 401(k), 403(b), or other tax-deferred retirement plan—can be a tax-wise way to support Holy Cross School while maximizing the impact of your legacy. We recommend you confer with your tax advisor or attorney to determine the best plan of action for your family.
When you name Holy Cross School as a beneficiary of your retirement account:
- Your gift passes tax-free to Holy Cross School, as charitable organizations are not subject to income tax on these assets.
- Your estate may avoid potential estate taxes on the value of your retirement plan.
- Your heirs may avoid income tax on inherited pre-tax retirement funds.
- Your estate may be eligible for a charitable deduction, potentially reducing estate tax liability.
To designate Holy Cross School as a beneficiary, request a "Change of Beneficiary" form from your plan administrator. You’ll need the following information:
Holy Cross School
EIN: 72-0456902
5500 Paris Avenue
New Orleans, LA 70122
Donating appreciated securities—such as stocks, bonds, or mutual funds that you’ve held for more than one year—is a powerful way to support Holy Cross School and may offer significant tax benefits.
When you make a gift of securities, you may:
- Avoid capital gains tax on the appreciated value of the securities
- Receive a charitable income tax deduction for the full fair market value of the donated assets
- Make a larger impact without affecting your cash flow
To ensure proper crediting and acknowledgment of your gift, please notify the Holy Cross School Advancement Office at advancement@hcnola.org or call 504-942-3100 in advance of your transfer. Someone will assist you with the necessary instructions and ensure your gift is processed smoothly and accurately.
If you would like help structuring a custom-giving plan that meets your financial goals while supporting the mission of Holy Cross, our Advancement Office is here to assist you.