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Love, Loyalty and Leaving a Legacy

Dick Bugher

Pictured are two of the students receiving partial tuition assistance thanks to Dick Bugher's planned giving, Alec Pipkin '17 and Jasmine Miller '16; along with Mike Feeney; Dick's nephew Robert Bugher, Cathedral class of '78; Dick's brother William Bugher, class of '49; and Nicole Farrell Beasley '98, vice president for advancement at Cathedral.

Richard A. "Dick" Bugher grew up on the west side of Indianapolis and graduated from Cathedral High School in 1952. Dick was definitely someone who was loyal to his traditions and loved the people and places he grew up knowing. He lived in the same area of Indianapolis all his life, worked for one company most of his career, and supported Cathedral throughout his lifetime and now beyond.

Dick was a loyal friend and fan. His friendships have spanned six and seven decades. Dick rooted for Indiana University and Cathedral High School, of which he was a trustee and proud 1952 graduate. He loved the New York Yankees and in 1948 led fellow St. Anthony 8th-graders on a bike trek to an exhibition game at Victory Field to see his hero, Joe DiMaggio.

Dick especially loved attending Cathedral football games. His dedication to the Cathedral Fighting Irish was not limited to the athletic fields, however. "Dick also loved the fact that Cathedral draws students from all over Indianapolis," says Mike Feeney, Cathedral's director of planned and major gifts, "especially those from his old neighborhood." That's why the proceeds from Dick's charitable remainder trust and his estate established the Bugher Family Endowment at Cathedral High School that will provide in perpetuity part of the tuition costs for students coming from the West Deanery of Indianapolis.

In the year 2000, Dick made a gift to Cathedral through a charitable remainder trust and subsequently made a provision in his will naming the school as a partial beneficiary of his estate. Unfortunately, Dick Bugher passed away in September of 2011. However, because of his foresight in setting up a planned giving program, his legacy of loyalty will benefit Cathedral—and Cathedral students—forever.

This last December, the Bugher Family Endowment provided close to $200,000 in tuition assistance to Cathedral. According to his brother Bill Bugher, also a Cathedral grad, Dick was not the kind of person to broadcast his financial support of the school. "He kept things to himself," says Bill, "but he thought highly of Cathedral."

"Dick's love for Cathedral has created a legacy not just for his memory," says Mike Feeney, "but for the entire Bugher family. Generations of Cathedral students will be grateful for the opportunity he has provided."

If you are interested in more information, please contact Abbe Ernstes at aernstes@gocathedral.com or (317) 968-7348.

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A charitable bequest is one or two sentences in your will or living trust that leave to Cathedral High School a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Cathedral High School, a nonprofit corporation currently located at 5225 East 56th Street, Indianapolis, IN 46226, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Cathedral or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Cathedral as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Cathedral as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Cathedral where you agree to make a gift to Cathedral and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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