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More Than a Lifelong Connection

Maria Mercedes Plant

"To know that by creating an endowment, we will be able to continue giving after we are gone, that is very satisfying to us." —Maria Mercedes Plant

At Cathedral, we often talk about how our graduates have a lifelong connection with our school. However, alumni and alumni parents can create a connection with Cathedral that will be there long after they are gone—through an endowment. Arthur L. Smith and Maria Mercedes Plant are alumni parents who did just that.

Arthur and Mercedes' son came to Cathedral and it is because of his positive experience here that they created an endowment that provides tuition assistance through the Maria Mercedes Plant and Arthur L. Smith Endowed Tuition Assistance Grant.

"I am a big believer in education," Mercedes says. "My husband and I have succeeded beyond our expectations, so we want to give back. To know that by creating an endowment, we will be able to continue giving after we are gone, that is very satisfying to us."

Supporting Your Beliefs

When initially choosing a school, Mercedes knew that the attention Cathedral teachers give their students would make a difference in her son's future.

"The teachers were key in guiding him, to helping him find out who he was, and he has succeeded in college and beyond."

When his parents asked him about making a donation to his college, the answer was no.

"He said Cathedral was so critical to who I am and who I have become that I want you to keep supporting Cathedral and giving other kids the same opportunity I had," Mercedes says.

Giving the Gift of Forever

"My request was to create an endowment to provide tuition assistance to either an African-American or Hispanic student," says Mercedes. "I am originally from Latin America and my husband is African-American. Diversity is so important. These children need opportunities to become who they have the potential to become."

With an endowment, donors can choose what their gift supports and know that the gift will go on forever. Or, gifts may be made to the general Cathedral endowment and be used wherever the school has greatest need. Either way, an endowment provides the chance to make a gift that lasts forever; memorializes the family name or a loved one; or supports a favorite program or activity.

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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