Ways to Give

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Online Donation

Making a gift online is easy and secure. Gifts may be directed for a specific purpose or not restricted to help where it is needed most. You will receive an email acknowledgement immediately and a mailed thank you within a day or two.

Click here to make an online gift today

Gifts of Stock or Securities

Making a gift of appreciated stocks or securities may provide you a tax advantage.  Consider seeking advice from a financial professional to see if this is a good option for you.  If you wish to make a gift of appreciated stocks or securities, we have provided you the information you need to complete the transaction. Click here to download the Stock Transfer Form. Please contact Dave Thorman ’65, Director of Major Gifts, if you need further assistance at 320-363-2021800-525-7737 or dthorman@sjprep.net.

Recurring Gifts

A recurring gift is an easy way to make an ongoing difference.  Making monthly gifts via a credit card or designating a checking or savings account may be a great option for you.  Please contact the Advancement department (1-800-525-7737) to learn more about setting up a recurring gift or download a recurring gift authorization form to begin the authorization process. Print out the form and include it with the required materials and return to: Saint John’s Prep – 2280 Watertower Road. Collegeville, MN 56321

Corporate Matching

You could literally double, triple or even quadruple your gift if your employer is one of the many companies that supports corporate matching.

To see if your company has a matching gift program, click here to view a list of known matching gift companies. If your company is not listed, please ask your human resources representative if they have a matching gifts program. Then let us know so we can update the list.

Estate Gifts

When you include Saint John’s Prep in your estate plans, you not only leave a legacy at Saint John’s Prep, but you potentially receive tax benefits and ensure that your assets are used in a fashion you wish them to be used.  If you would like to learn more about estate planning and how Saint John’s Prep may factor into those plans, please contact Aaron Miller, VP of Advancement at 1-800-525-7377 or amiller001@sjprep.net

Endowment Funds

Creating an Endowed Scholarship Fund is one of the easier ways to make a significant, positive, and permanent impact on the SJP students of today and tomorrow. A permanently endowed scholarship fund (the principal is never spent) of $25,000 or more allows the donor to name the scholarship fund as they wish.  The endowed fund can be established with a pledge and then completed with payments over a period of time or with proceeds from an estate. Company matching gift programs can also be used to help complete a fund.

Endowed Scholarship Funds can be created with cash, gifts of stock or other real property, real estate, assets from an IRA, 401 (k), or insurance policy, testamentary gifts, beneficiary designations, trusts, or almost any kind of asset. A Named Fund can be created now and funded later with proceeds from an estate.

There are currently 63 permanent endowed scholarship funds established at the Prep School. Earnings from these funds are used for scholarships and other donor-directed purposes. Click here for a full list of scholarships.

Naming Saint John’s Preparatory School as a beneficiary is a smart way to provide a future gift to the Prep School with a minimum of planning and paper work.  In fact, it’s so simple, it’s a wonder that more people don’t do it. Life insurance policies that you no longer need for their original purpose (for example, your children are now grown) make excellent vehicles for beneficiary designation. The same is true for IRA accounts or 401 (k) or TDA accounts — any investment or policy you have that permits a beneficiary designation is perfect for this purpose.

Making a future gift to the Prep School by using a beneficiary designation is very easy. You simply name the school as the beneficiary. The best way to do this is in writing and by visiting with your financial adviser, insurance agent, accountant, or banker who handles your financial affairs. Be sure to get and keep a copy of the beneficiary designation for your records. If you’re willing to share, we would appreciate a copy here at Saint John’s Prep, but it’s not essential for us to have a copy.

An added bonus: An IRA or 401 (k) retirement account that would be heavily taxed if it passed to other heirs will pass 100% tax free to Saint John’s Prep School, since we are a charitable organization. In addition to providing a nice gift to the school you will also be preserving 100% of your hard-earned money. Although tax laws are always changing, the only current way you can guarantee the preservation of 100% of your IRA or 401 (k) or 403 (b) assets is to designate a charity as the beneficiary. All other ways might involve some significant penalties and/or the payment of unanticipated taxes.

This might be a good time to review all of your life insurance policies, IRAs, TDAs, 401 (k)s, and other various beneficiary designations. Take an inventory of these oft-forgotten assets and then determine if it might be a smart idea to designate Saint John’s Preparatory School as the beneficiary of one or more of your policies or accounts.

It is important to use the correct language in your beneficiary designations so that your wishes can be strictly and accurately carried out. When naming the Prep School as a beneficiary, be sure to write, “…Saint John’s Preparatory School, as conducted by the Order of Saint Benedict, Collegeville, Minnesota.”

NOTE: This information should not take the place of competent, qualified legal advice. Examples are general and hypothetical.

Gift Annuity

Better Returns From Your Savings

Do you depend on certificates of deposit, bonds, and other fixed investments to produce retirement income? Would you like to double your current rate of return? Would you like the higher interest rate to be guaranteed for the rest of your life and for the rest of your spouse’s life?

Annuity rates vary and generally increase with age. Annuities are also available on two lives simultaneously and/or with a survivor benefit. Rates for two lives are slightly lower than for one life.

In addition to the higher rate of return, a portion of the interest income received each year on a gift annuity is tax free. You also receive a significant tax deduction for the year in which you initially establish the charitable gift annuity. The annuity income is guaranteed to you for your entire life. The guarantee is backed by the full faith and assets of Saint John’s Abbey & Prep School.

Another great way to increase your current income while at the same time converting highly appreciated assets (such as stocks) into cash is to create a charitable gift annuity by making a gift of the asset itself. By making a gift of the actual asset (such as stock that you bought for $10,000 that is now worth $50,000) you avoid all capital gains taxes on the $40,000 gain, you get credit for a charitable contribution of $50,000 and you would immediately begin to earn a high guaranteed rate of return on the $50,000 annuity for the rest of your life and/or for the rest of your spouse’s life.

Charitable gift annuities have long been one of the more popular estate planning strategies. They’re simple, easy to understand, yield current income for the donor which is partially tax free, and they’re guaranteed. Market fluctuations will not impact a gift annuity. Once you set it up, it’s set for life.

It only takes a few minutes to establish a charitable gift annuity. We will do all of the work for you right here on campus, but you might want to also let your attorney look over the annuity contract once we deliver it to you. Let us know if we can be of assistance in helping you to establish a charitable gift annuity.

NOTE: This is not tax or legal advice; consult your lawyer or estate planning specialist for professional advice.

Using the power and the ease of a bequest, a significant gift can be made to Saint John’s Preparatory School, perhaps to a greater extent than would be possible during your lifetime. All charitable bequests are removed from the value of your estate and are free from estate or income taxes.

If you do not have a Will, now would be a good time to make an appointment with a qualified attorney to have one prepared. Having a Will can provide peace of mind and is the only way of legally assuring that your estate will be managed in the manner you wish. If you already have a Will, but haven’t named Saint John’s Prep as a beneficiary, a codicil to your Will is very simple and inexpensive.

It is important to use the correct language in your beneficiary designations so that your wishes can be strictly and accurately carried out. When naming the Prep School as a beneficiary, be sure to write, “…Saint John’s Preparatory School, as conducted by the Order of Saint Benedict, Collegeville, Minnesota.”

SUGGESTED WILL BEQUEST LANGUAGE

“I give, devise and bequeath to Saint John’s Preparatory School, as conducted by the Order of Saint Benedict, Collegeville, Minnesota, (insert dollar amount or percentage of estate or description of property, Etc.), to be used for the benefit of said School.”

SUGGESTED CODICIL (Simple Amendment) TO LAST WILL AND TESTAMENT

“I, (your name), hereby amend my Last Will and Testament, executed on the ____ day of ____, in the year ____. I direct that all provisions of that Will remain in effect, but direct in addition that Saint John’s Preparatory School, as conducted by the Order of Saint Benedict, Collegeville, Minnesota, shall receive (insert dollar amount or percentage of estate or description of property, Etc.) to be used for the benefit of said School.”

If you would like additional information regarding estate planning, please visit us, phone, e-mail, or write.

NOTE: This information should not take the place of competent, qualified legal advice. Examples are hypothetical. This is not legal advice.

Charitable Remainder Trust

There are two basic forms of charitable remainder trusts (CRTs), a unitrust, and an annuity trust. Before discussing the two different forms, let’s look at the basic nature of CRTs.

CRTs involve the irrevocable gift in trust of cash, securities, real estate, or other property to a trustee under a trust agreement. The agreement must provide that income from the trust fund will be paid to you — or another person designated by you — for life or for a period of not more than twenty years.

The amount of income to be paid is expressed in terms of a stated percent (not less than 5%) of the value of the fund. On the death of the last surviving income beneficiary (or the expiration of a term of years), the trust terminates and the assets in the trust pass entirely to Saint John’s.

Under an annuity trust, the creator of the trust (you) selects an amount which must be paid each year. That amount must be at least 5% of the initial value of the property placed in the trust. The payments are fixed and predictable and must be paid by the trustee even if it is necessary to use principal from the trust fund in order to do so.

A unitrust is more flexible than an annuity trust in that it can provide a hedge against inflation, but it involves an element of risk for the income beneficiary. Under a unitrust, the creator selects a percentage (at least 5%) of the value of the trust to be paid as income, but in this form of trust, the value of the fund is determined each year. Thus, the income payments will rise or fall with the annual valuation of the trust assets. In an inflationary period, this form of trust tends to protect the real value of the beneficiary’s income.

A CRT is a particularly beneficial strategy for individuals who want to preserve assets while minimizing taxes and at the same time generate a current income. A CRT is very useful for business owners or stock holders who have experienced a large increase in the value of assets over a period of time and who want to preserve those assets for future generations as opposed to paying a large percentage of those assets for taxes.

In addition to preserving assets, the donor might actually increase disposable income, might relieve himself/ herself of the management burden of property placed in the trust, provide an income for a surviving beneficiary if desired, and enjoy the satisfaction of ultimately providing a gift to Saint John’s Prep. If you would like additional information, please visit us, phone, e-mail, or write.

Hypothetical examples. This information should not take the place of qualified legal advice. We are neither lawyers nor accountants. Tax laws are changing all of the time; be sure to have and use the latest information.

 

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