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St. Joseph’s Collegiate Institute The John J. Barden Society John J. Barden < was a truly outstanding educator and gentleman, and a tower of strength at St. Joseph’s Collegiate Institute for over 60 years. John joined the faculty in September 1923 and served St. Joe’s until his death on September 19, 1983. John’s dedication, loyalty and hard work helped St. Joe’s grow in academic excellence and stature to where it is today. The John J. Barden Society was established at St. Joseph's Collegiate Institute to honor the memory of Mr. Barden and recognize as members people who have planned a future gift to support the mission of the school, and have made it known to the Office of Institutional Advancement. The society also continues to recognize members who have died because their gifts have produced a lasting benefit to the St. Joe's mission. Bequests Giving by bequest costs nothing now, yet it may give you a great deal of satisfaction to know that your future gift will live in perpetuity. An outright gift from your estate is entirely free from federal estate taxes. This means that St. Joe’s is able to use the full amount of the bequest. You may make a bequest and retain the ability to change it at any time. A bequest is a transfer of cash, securities, or other property through a will or a living trust. A bequest to St. Joe’s can be made for a specific amount, for a percentage of your estate, or even for all or a portion of what is left after you have made specific bequests to your family and others. There are many reasons to make a bequest. You may want to support St. Joe’s and its programs in the future, just as you may be doing during your lifetime. Bequests are very private gifts, too. You may change your bequest at any time, and, if you wish, you may make your plans anonymously. If you have already set up a planned gift for St. Joe’s, please use the form on page 4 to inform the school of your plans. Making a Bequest To make a gift to St. Joe’s from your estate, you must sign a new will or living trust instrument, add a codicil (see Sample Bequest Language below) to your present will, or make an amendment to your present trust instrument. To ensure that your exact intentions can be carried out by St. Joe’s, we encourage you to discuss your plans with our staff in the Advancement Office at St. Joe’s and get their help in drafting the language that will accomplish your charitable goals. Then you may provide your estate planning attorney with the new language to use in updating your documents. 1 Tax and Other Advantages of Making a Bequest Federal Estate Tax Savings An outright gift to St. Joe’s from your estate—whatever the amount, and whether it is expendable or for endowment—is entirely free from federal estate taxes. This means the school is able to use the full amount of the bequest, whereas if it were left to an individual, a significant amount might go to federal estate taxes. Other Advantages of Bequests With bequests over $25,000, you may create a separate endowed fund named for yourself or in the name of someone you wish to honor. Named funds remain visible in the St. Joe’s community because of the people and activities they support. This visibility also encourages others to give. Choosing How Your Bequest Will Be Used You have several options when making gifts by bequest. Here are a few for your consideration. • • • • Unrestricted bequests: The use of your gift is left to the discretion of the school. Such bequests are extremely valuable, as they allow the school to flexibly and imaginatively meet the future needs of the school. Restricted bequests: Support ongoing specific school needs such as scholarships, internships, faculty support, athletics and library funds. Restricted bequests can also be used to build and maintain facilities or to underwrite specific programs. Because each restricted bequest is unique, St. Joe’s encourages donors considering this type of gift to speak with a member of the Advancement Office. Endowed funds: Provide income every year in perpetuity to carry out the designated purpose of the gift. The principal of the gift is not spent. Expendable funds: Both the principal and the income are spent. Sample Bequest Language: For an Unrestricted Bequest: "I hereby give and bequeath to St. Joseph’s Collegiate Institute, a non-profit corporation organized and existing under the laws of the state of New York, _________________ dollars ($_________) [or _______________________ percent (_____%) or all of the rest, residue, and remainder of my estate] to be applied to the general uses and purposes of said institution." For a Restricted Bequest: "I hereby give and bequeath to the St. Joseph’s Collegiate Institute, a non-profit corporation organized and existing under the laws of the state of New York, __________________ dollars ($_________) [or _______________________ percent (_____%) or all of the rest, residue, and remainder of my estate], the income and/or a reasonable portion of the principal to be used for the following purpose: _______________________________________________________________________________________. In the event that conditions in the future should no longer require the use of this fund for the purpose specified above, the fund can be expended for any use that is within the corporate purposes St. Joseph’s Collegiate Institute may direct, so long as any commemorative aspect of this fund remains intact." We encourage everyone who wants to create a restricted bequest to call the Office of Institutional Advancement (716-270-4115) so that you can discuss the parameters of your desired gift and how it matches the school’s needs. 2 St. Joseph’s Collegiate Institute The John J. Barden Society —Membership Form— Name: ____________________________________________________________Class _________ Street Address: __________________________________________________________________ City: __________________________________ State: ___________________ Zip: ___________ Tel: _____________________ Fax: ___________________ e-mail: ________________________ I have included St. Joseph’s Collegiate Institute as a beneficiary of my:  Will or revocable trust  Contingent beneficiary  Charitable remainder trust  Life insurance policy  Charitable lead trust  Primary beneficiary  Retirement plan  Secondary beneficiary  Primary beneficiary  Contingent beneficiary Secondary beneficiary  Mutual Fund  Other (please specify) ___________________________________________________ St. Joe’s will receive this gift: Upon my death Upon the death of the surviving spouse Other (please specify) _____________________________________________________ 3 Future use of funds: If/when this gift is received by St. Joe’s, it is my wish that the school use these funds for the following purpose(s):  Unrestricted (supports general operations and will be directed at the discretion of the Board of Trustees)  Endowed Funds. These funds should be used as follows:  Directed to the following existing endowed fund: ________________________________________________________________________ ________________________________________________________________________  Directed toward the establishment of a new endowed fund (in the amount of $25,000 or more). The new endowed fund should be named: ________________________________________________________________________ ________________________________________________________________________  Directed to the Christian Brothers’ Endowment Fund.  Restricted for the following preferred purpose: ________________________________________________________________________ ________________________________________________________________________ If, in the future years, circumstances have changed so significantly that it is no longer practical to use my gift in this manner, the Trustees of St. Joseph’s Collegiate Institute may us the gift for other purposes which, in their opinion, most closely fit my intent. ------------------------------------------------------------------ Please list me as a member of The John J. Barden Society. My name should appear in print as follows: ______________________________________________________________________________  I wish to be an ANONYMOUS member of The John J. Barden Society ------------------------------------------------------------------_______________________________________________ Signature _________________________ Date Please return to: St. Joseph’s Collegiate Institute, 845 Kenmore Avenue, Buffalo, NY 14223 Fax: 716-874-4956 · Phone: 716-270-4115 · Email: sburns@sjci.com 4