If you would like to make a financial contribution to ACS, please click here or contact the president at 973-543-6528 ex 230 or president@acs350.org for more information.

Some ways to contribute are the following:

  1. Sponsoring a student for one, two or three years tuition and fees.

  2. The College gratefully accepts scholarships which have been established to memorialize a    loved one and to assure remembrance in prayer. Any financial contributions can be added to existing memorial scholarships or new ones can be established in the name of a loved one.

  3. Charitable Planned Giving

A planned giving program should be a "win-win" scenario for the donor, the nonprofit organization, and for the donor's heirs. Be selecting the most appropriate planned vehicle, the non-profit organization will receive a contribution, the donor will get benefits that exceed a straightforward gift while they are still alive, (usually in tax deductions) and depending on the vehicle, the donor's heirs may benefit, as well.

The following is a brief introduction aimed at providing some basic ideas about a few of the planned giving vehicles that our prospective donors can use and the Assumption College for Sisters is set up to receive.

What is a Planned Gift?

A planned gift is an irrevocable or revocable gift, given in a creative way to charitable organizations using many different types of assets. It is a way for donors to make gifts to an organization receive financial benefits, and to make larger gifts than they thought possible. It is also a way to help donors achieve philanthropic and financial objectives as follows:

  • Make a major gift and obtain a charitable income tax deduction (examples: direct donation, gifts to the Endowment Fund, gifts to the Memorial Scholarship Fund)
  • Avoid or reduce paying capital gains taxes if donation includes increased valued assets
  • Avoid probate costs, reduce estate taxes and reduce federal income taxes
  • Increase current yield from stocks and bonds
  • Plan for retirement and for family
  • Provide permanent support for the charitable organization

How can a Planned Gift be Funded?

There are many ways that these gifts can be funded. Four examples are presented for your review:

  • Outright Gifts

This mode of giving is simple. It involves the donor writing a check or transferring assets (such as stocks, bonds, Treasury Bills, art work, jewelry, or real estate), to the charity.

  • Gifts of Insurance

In this mode of giving, the donor makes the charity the owner and beneficiary of a life insurance policy. The bonus that the donor receives is an income tax deduction on the premiums. This gift might work as follows: An individual purchases a $500,000 life insurance policy for herself. The policy is to be funded by 10 annual payments of $5000 to the charity for a total cost of $50,000. The charity pays the premium with these annual donations. At the inception of the policy the donor signs over to the charity the ownership of the policy making it the sole beneficiary at the time of her death. The benefits to the donor are that she will receive an income tax deduction on the premium payments annually and the charity will eventually receive a half-million dollars upon her death.

  • Matching Gifts

In this mode of giving, the gift is contingent upon a certain level of funding from another source, such as the donor's place of employment. Example: A donor might donate $1000 to the charity. Her employer will match this donation with $1000. The total of the donation to the charity is $2000.

  • Charitable Remainder Trust

This mode of giving is using a vehicle to donate assets after a period of time via a trust established by the donor and her lawyer in conjunction with the charity. This mode of giving is usually funded with substantial assets that have significantly appreciated in value over the years. The donor must pay exorbitant capital gains taxes if she redeems the assets herself. However, when the donor donates these assets, which are placed in this trust, and takes an annual fixed percentage of the trust assets as income, her tax obligation is very much less. This vehicle of giving allows the donor to distribute a fixed percentage of the trust assets annually for a fixed period. At the end of the term, the remainder trust becomes the property of the charity.

If you have questions about Planned Giving please contact the President at Assumption College for Sisters, 350 Bernardsville Road, Mendham, NJ 07945, telephone number 973-543-6528, ext. 230 or email at president@acs350.org. We will be happy to discuss any concerns you might have and help you establish a mode of planned giving.

Thank you for your contribution to the ACS family of students and faculty.  Your gift is greatly appreciated for continuing our mission of educating Sisters.