Creating a Sartan Legacy An Overview of Gift and Estate Planning at St. Pius X High School
HIGH SCHOOL
Planning to Give
Planning to Give
It’s easy to name St. Pius X High It’s easy to name St. Pius X High School as a School as a beneficiary of an estate. beneficiary of an estate. We teach success – in school and in life! For over 60 years, St. Pius X High School has brought high quality, values-based college preparatory education to students in the Albuquerque, New Mexico area. We are recognized as one of the outstanding secondary schools in New Mexico and the Southwest. Nearly all of St. Pius X graduates go to colleges and universities in New Mexico and around the country. Some of our recent graduates can be found at Yale, Harvard, NYU, Stanford, Notre Dame, and Brown. We are fully accredited by the North Central Association of Colleges and Schools. We strive to help our students meet the challenges of modern life by emphasizing an understanding of issues that impact success in the real world (e.g., the impact of technology on all areas of life, and the importance of ethics in business and personal relations). We give our students a solid foundation in math and science. English, foreign languages, the arts, religion and history. Our students leave St. Pius X reading more critically, thinking more wisely, and writing more clearly. We offer our students: • • • •
personal attention with small classroom size (17:1 average), a wide range of honors and advanced placement courses, teachers with advanced subject area degrees, and special facilities such as updated computer rooms and state-of-the-art science and robotics labs.
Beyond the walls of the classroom, St. Pius X fosters the total development of its students, and encourages them to participate in at least one of the many activities on campus. Students can choose from over 20 sports teams and over 30 clubs and organizations, theater, instrumental and vocal music. During the 2018-2019 academic year, our baseball team won a State Championship. Community service, campus ministry, and retreats help develop compassionate human beings who will become tomorrow’s leaders. Students are required to perform 20-40 hours of community service per year as part of the curriculum. Students learn leadership skills, a work ethic and the satisfaction of serving others. The community benefits in the energy and enthusiasm that the students bring to nonprofit projects and organizations.
Things to Know √ √ √
For estate and beneficiary documents, gifts to St. Pius X should be directed to the St. Pius X High School Foundation, Albuquerque, New Mexico. St. Pius X High School Foundation’s Federal Tax Identification number for beneficiary designation form(s) is 850427816. St. Pius X High School’s contact information is: Bobby Wallace Director of Advancement 5301 St. Joseph’s Dr NW Albuquerque, New Mexico 87120 (505) 831-8423 bwallace@spxabq.org
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IRS Circular 230 Notice: The St. Pius X High School Foundation does not provide legal, tax, or financial advice. Consequently, we urge you to seek the advice of your own legal tax, or financial professionals in connection with gift and estate planning matters. This information is not intended to be used and cannot be used for the purpose of avoiding tax-related penalties.
Why St. Pius X is Important to Me “I am grateful for the first-rate education I received at St. Pius and for outstanding, empathetic teachers and lifelong dear friends. My years at Pius were rewarding and enriching.”
Augustina Olivas and Michael A. Olivas ‘68
Becky Fink ’90, Pam Fink Read ’88, Amy Fink McCarty ’86, Karina McCarty ’19, Lilly McCarty ’17 and Marijo Rymer ‘64
Joseph Schubert ‘70
Because we were both the fortunate beneficiaries of others’ generosity resulting in our receiving scholarships while in school and college, we have always felt a special obligation to return the philanthropy that made our own success possible. Therefore, we have established nearly two dozen academic scholarships at several schools and institutions of higher education. At St. Pius, we began six such funds, drawing support from other classmates, to honor SPX teachers who not only gave us educational instruction, but life lessons as well. Concerning one of these, the Father Sam Falbo Scholarship, we recently visited with Fr. Sam in Las Vegas, Nevada, where he has retired. Doing this gives others the same advantages we had, and we urge all SPX grads and their families to give as they are able. As the Beach Boys sang, back in our high school days, “Be True to Your School.” Michael A. Olivas graduated from SPX in 1968, and was a seminarian for the Archdiocese of Santa Fe. He left seminary after College, and became a Law Professor at the University of Houston, retiring in 2019 after 38 years at UH. His wife Augustina (Tina) Reyes is a native of Houston, and taught School Law and Finance for nearly 30 years, at Texas A&M and UH. They live in Santa Fe. I give to St. Pius because now more than ever we need to present students with moral choices and a compass to guide them in making them. I have often thought of the sacrifices my teachers made to be mentors to us and to provide us with that compass, Miss French, Msgr. Eggert, Sr. Benedict, Sr. Christine, Sr. Ethna (I can still recite Portia’s “Mercy” speech from The Merchant of Venice!), Sr. Ann Janet, Sr. Benedicta and many others. I hope and believe St. Pius imbued my education and my career with moral conscience and a faith that has helped me through life’s crises and triumphs. That is the highest purpose of any education, and for that I will always be grateful. Joseph B. Schubert ’70 is a semi-retired Associate General Counsel, Bank of America, San Francisco. He graduated cum laude from Princeton University in 1974 and Yale Law School in 1977. He has specialized in corporate finance for over 40 years. Recently he represented The Sonoma Land Trust in its acquisition of the 5600-acre Jenner Headlands property overlooking the mouth of the Russian River as it empties into the Pacific, thus preserving forever this scenic parcel for public use. “I am grateful for the first-rate education I received at St. Pius and for outstanding, empathetic teachers and lifelong dear friends. My years at Pius were rewarding and enriching. My three daughters also graduated from Pius well prepared for college. The tradition continues with the graduation of two granddaughters and two grandsons will soon follow. Clearly, I feel blessed by the St. Pius X experience.” Marijo Rymer graduated from St. Pius in 1964. She graduated cum laude from UNM with majors in English and Political Science. After decades in politics, public relations and community service, she spent the last 11 years of her career as Executive Director of The Arc of Colorado, providing leadership for 14 Chapters of The Arc supporting people with intellectual and developmental disabilities. She retired to NM in 2017 and serves on the St. Pius Foundation Board, is President of Disability Rights NM, and is a Docent at the Albuquerque Art and History Museum.
Match Your Gifts to Your Goals
Part Tax-Free
Variable Amount
Fixed Amount
Reduce Estate Tax
Receive More Income
Avoid Tax on Capital Gains
Reduce Income Tax
Give Your Legacy
Receive Tax Help
Give More
Give Later
Give Creatively
Will & Estate Plan Retirement Plans/IRA Life Insurance Charitable Remainder Trust
Become a Member of the Sartan Legacy Society The Sartan Legacy Society was founded to honor alumni and friends who have established planned gifts and/or provided for St. Pius X High School in their estate plans. There is no minimum gift level: membership is lifetime and complimentary. Members receive a Sartan Legacy pin and an invitation to our annual luncheon.
Becoming a member is easy. Just let us know the school is part of your estate plans. You can indicate the amount or not, be recognized during your lifetime or be anonymous, and tell us exactly how you would like your estate gift to be directed, so your wishes will be carried through exactly as you envision. To become a member or to learn more, visit us at www.saintpiusx.com/give
Many Ways To Make a Difference
ManyWays Ways Make a Difference Many to To Give. Many Ways to Give.
There are many different ways to make a legacy gift, perhaps some you haven’t evenare considered. Here are aways few types of assets you can give to There many different to make a legacy gift, achieve your goals.you haven’t even considered. Here are a few perhaps some
types of assets you can give to achieve your goals.
Cash Giving cash is simple and the most basic way to make a difference at St. Pius X, and you can deduct the amount immediately on your income tax.
Stocks & Securities Giving securities, including stocks and bonds, is easy and effective too. If you have held the securities for more than a year and they have appreciated, giving to St. Pius X can provide a tax deduction and help avoid capital gains tax.
Mineral Interests By transferring mineral rights to St. Pius X, you truly are giving your school a “gift that keeps on giving.”
Real Estate & Land Trust A gift of real estate, such as your home, ranch, vacation property, commercial property, or even vacant land, could be your most impactful donation. Moreover, if your property has appreciated, giving it to St. Pius X can provide a tax deduction and help avoid capital gains tax.
Life Insurance If you no longer need your life insurance policy because it will no longer benefit your survivors, you can give it to St. Pius X.
Retirement Plans Giving St. Pius X part of your retirement assets, such as from your IRA, 401k, 403b, pension or other tax-deferred plan, is a simple way to make a gift and can keep you in a more advantageous tax bracket. This is especially true for alumni and friends who are age 70 ½ or older and must take a required minimum distribution each year. Moreover, retirement plans passed to your children and heirs could lose almost half their value through the income taxes they will have to pay. On the other hand, naming St. Pius X as a beneficiary generates no income taxes, and the school receives the full value of your retirement plan.
Will & Estate Plans You can designate St. Pius X as a beneficiary in your will, living trust, or other estate plan document. Sample will language is available at the end of this brochure.
Business Interests & Closely Held Stock Nothing has growth potential like your stake in a growing company. There are key times in the life of a business when it makes sense to set aside some of the ownership interest for charitable contributions, such as: • When a company is being formed • Before an initial public offering (IPO) • When a company is being recapitalized • Before the sale, merger. Or acquisition of a company • Before an owner or partner in a company retires By donating closely held stock before these liquidity events occur, you can claim an immediate tax deduction for the full market value without ever recognizing a taxable gain. You essentially “double up” on the tax benefits.
Intellectual Property & Royalties Creativity is at the heart of what it means to be a Sartan, and that creative power can transfer into financial security for the school through gifts of I.P. and royalties.
Artwork & Collectibles Painting, sculpture, coins…if it is worth something to someone, that worth can transfer to St. Pius X.
Charitable Remainder Trust A charitable remainder trust allows you to transfer cash and appreciated securities as well as property to St. Pius X or your bank/trust company. The difference is that instead of a simple contract, your asset funds a trust, which directs a specific distribution to you or your family, with the remainder being distributed to the school. The trust will provide you with an upfront charitable tax deduction and provide you with income for life (flexible or fixed for life or for a set term of years).
Charitable Lead Trust You can transfer cash, appreciated securities, and or property into a lead trust that makes gifts to St. Pius X for a number of years. You will receive a charitable deduction, and you or your family receives the remainder of the trust at a tax savings.
Make St. Pius X High School a Lasting Part of Your Sartan Legacy It’sSt. easy to X give to future ofof St.Your Pius! Just Legacy use the Make Pius High School generations a Lasting Part Sartan following language in your estate planning to create a valued It’s easy to give to future generations of St. Pius! Just use the following language in your estate Sartan Legacy generations planning to create a valued Sartan Legacy forfor generations to come. to come. I hereby direct for charitable purposes $____________ (or_________percent of my residual estate) (or_________percent of my retirement plan) (or_________percent of my life insurance policy) (or_________percent other, i.e., Charitable Trust, etc.) to the St. Pius X High School Foundation, a 501(c)(3) organization, for the benefit of St. Pius X High School in Albuquerque, New Mexico. This gift shall be used for ______General Purposes
______Tuition Assistance
______To support the existing endowment of ___________________________(Specify) ______To create the________________________Endowment as a permanent endowment for the benefit of St. Pius X High School. (Amount required to establish a permanent named endowment fund is $30,000.) As with any decision involving your assets and/or estate, we urge you to seek the advice of your professional counsel when considering a gift to the St. Pius X High School Foundation, Albuquerque, NM.
The true meaning of life is to plant trees, under whose shade you do not expect to sit. -Nelson Henderson