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Educational Endowment Next Meeting: June 12 @ 7PM in the Cafeteria Endowment Brochure (pdf) At this week’s Endowment Board meeting the trustees discussed a great idea for donors to reduce their taxes while building the school endowment in a loved one’s name. New legislation has been enacted by Congress that allows you to make a charitable gift to the St. Gregory the Great School Endowment if you have an IRA. The withdrawal is not included in your taxable income. To qualify for this time-limited tax law (available now through December 2007)
Who should consider this opportunity?
Check with your advisor about the best ways to take advantage of this new giving opportunity. As always we will be pleased to assist you in any way possible.
Peter Wilson (216) 381-0363 Members of the
Endowment Board Educational Endowment Facts...
The Educational Endowment was
officially formed in May 2001.
It is governed by a legally binding
document.
The fund can ONLY be used for intended
purposes. These include scholarships, school operating expenses, school
capital improvements, school programs and personnel, general school
support and donor request to name a few.
Only the income of the fund can be
disbursed, once the fund has exceeded $250,000.00.
We currently have approximately
$280,131.00.
Donations can be sent to the school -
payable to the St. Gregory Endowment Fund.
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