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 © 2009 St. Gregory the
    Great Catholic School
       All Rights Reserved.

          

 

Educational Endowment

St. Gregory the Great School Endowment 1st Annual Golf Outing Wednesday, Sept. 24th (pdf)

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)

  • Individuals must be 70-1/2 years of age or older by the gift date.

  • Gifts must be a transfer directly from an IRA to the charitable organization

Who should consider this opportunity?

  • If you are required to take minimum distributions from your IRA and don’t need the additional income.  For example, if you are required to withdraw 5% from your IRA this year, you can transfer the entire amount to the School Endowment Fund.

  • If you normally don’t itemize your deductions.  You can now enjoy the equivalent of a charitable deduction.

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

Fr. Dave Ireland - Pastor
Peter Wilson - Principal
Richard Geier
Ellen Cherry
Bradley Urbon
Tom Rini
George Morris
 

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.