Giving

Legacy Giving

Mother Mary Frances Clarke Heritage Circle

It is our hope that you will consider including Xavier in your estate plan, and if you have already done so, please let us know, so that we can include you as a member of Xavier’s Mother Mary Frances Clarke Heritiage Circle!   Named after Mother Mary Frances Clarke, the foundress of the Sisters of Charity of the Blessed Virgin Mary, Xavier’s Heritage Circle was established to secure financial support for Xavier’s long term needs and recognize individuals who have made provisions in their estate plans for Xavier College Preparatory.  

Please enjoy the following story featuring one of our supportive families who included Xavier in their estate plan. 
Kathleen Schwarzkopf Harris ’81 and her husband Tom are new members of the Mother Mary Frances Clarke Heritage Circle. As an alumna and Xavier parent, Kathleen has served as President of the Board of Trustees, President of the Xavier Foundation, Inc., President of the School Advisory Board, and a long-term member of the Finance Committee.  Kathleen and Tom have four children, two recent Xavier graduates and one currently enrolled.   
 
From Xavier’s recent “Let us Know” initiative that generated publicity about Xavier’s Legacy Giving opportunity, Kathleen and Tom informed Xavier that they have designated a gift from their estate to Xavier. Learning from her mother, who was deeply involved at Xavier in giving of her time, treasure, and energy, Kathleen has continued the family legacy. 
 
“Philanthropy was an integral part of my life growing up. It’s what my parents demonstrated to me, and now we’re happy to continue that legacy,” says Kathleen. “In fact, Tom and I adopted a philanthropic mindset early on in our married life and we have been fortunate to have been involved in many organizations near and dear to us.”
 
Having served in many leadership roles at Xavier as a Xavier parent, Kathleen puts her philanthropy passion into practice.
 
Why A Legacy Gift?
 
“Even though funds are distributed in the future through our estate, it gives us a chance today to direct where we’d like our charitable dollars to go. Xavier has had such a major and positive impact on our family and our community, it was clear that we would like to remember them with this gift.” 



Designating a Legacy Gift to Xavier is a great way to leave your legacy, and your membership in the Mother Mary Frances Clarke Heritage Circle can positively impact many lives.  If you already have, or plan to designate a Legacy Gift to Xavier, please “Let us Know” by contacting Curtis Bruggman, Director of Legacy Giving, at cbruggman@xcp.org or 602-240-3133. 

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  • Mother Mary Frances Clarke Heritage Circle Members

    Erin '84 & Al Alaimo
    Ann '80 & Mark Barker
    Betsey Bayless '62
    Loretto Coles Berghoff '57
    Curtis J. Bruggman
    Janet & Edward Burke
    Emily  Buttersworth 
    Martha & Steven Chung 
    Mary Ellen & Patrick J. Cunningham
    Carolyn & Mike Donahey
    Camille Donaldson '49 
    Teresa '67 & Stephen Duffy
    John Durant  
    Ann Grgich Graham 
    Catherine '66 & Lewis Griffin 
    Kathleen '18 & Tom Harris 
    Michele & Stan "Stash" Jarocki
    Patricia Jesik '61
    Meg Naughton Jones '87
    Michael King
    Kathleen & Greg Kruzel
    Jean & Mike Palumbo
    Paula & Larry Petrowski
    Denise & "Ed" Registrato
     Jean Tichenor
    Patty & Cecil "Butch" Vaughn
    Helen Watts 
    Olinda Young & Marty Johnson


    † Deceased

Frequently Asked Questions

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  • If I create a planned gift or bequest, will Xavier continue to ask me for annual contributions?

    Your planned gift will significantly ensure the financial future of our school. However, current campus improvements and needs are supported through annual gifts. We greatly appreciate and encourage any ongoing support you wish to consider.
  • Is it true that transferring retirement plan assets to a charity is advantageous?

    Qualified retirement plans and retirement accounts such as IRA's, 401(k)s, 403(b)s and Keoghs allow individuals to defer paying taxes on a portion of their income until assets are withdrawn during retirement years. However, after a person's death, retirement plan assets distributed to individuals are subject to income tax and may also be subject to estate tax.  Retirement plan assets distributed to a charity are not subject to income or estate taxes, making it advantageous to name a charity as a beneficiary of your retirement plan assets.
  • What assets can I use to make a gift to Xavier College Preparatory?

    During your lifetime, you can make an outright gift of cash, securities or other property (real estate or personal property). Upon your death, you can make a gift through your will or living trust or your retirement plan or life insurance policy can be designated to Xavier College Preparatory.
  • What tax deductions will I receive for my gift?

    Your tax benefits can vary greatly based on the type of gift, the time it is made, if it is outright or deferred, or if it has income payments. Below are some guidelines, but Xavier encourages you to discuss this with your tax advisor.

    • Outright gifts: You will receive an immediate deduction for the full value of the gift.
    • Securities: Deductible for the fair market value with no recognition of capital gains (if gain is long-term) - a great tax benefit!
    • Personal Property: Items are fully deductible at fair market value so long as they are relevant to our mission.
    • Gifts upon death through your will or trust: Will generate an estate tax deduction.
    • Life Insurance: Will generate an estate tax deduction.

Estate Planning Strategies

Planned gifts can help you achieve your financial and charitable goals as well as provide you with a substantial tax savings.

GOAL STRATEGY BENEFITS
Make a gift to Xavier now that doesn't affect your cash flow.
Put a bequest in your will. This could be either cash, specific property or a share of estate residue.
You will benefit in the future with an estate tax deduction.
Maximize your deductions; minimize gift details.
Make a gift of cash. Claim your deduction against a larger portion of your adjusted gross income  and make an immediate impact at Xavier.
Avoid capital gains liability and afford a larger gift to Xavier.
Give bonds or appreciated stocks held over one year.
Make a gift that costs you less than the benefit it delivers to Xavier, while avoiding capital gains tax. Buy low and give high.
Use an overlooked asset.
Name Xavier as the beneficiary of your retirement plan: leave all other assets to your family.
Eliminate income tax and estate tax on retirement plan assets and free up other property to pass on to your heirs.
Make an endowment gift from income rather than capital.
Create a new life insurance policy,
or donate a paid up policy whose
coverage you no longer need.
Increase your ability to make a gift to Xavier.



OUTRIGHT_GIFTS HOW IT WORKS BENEFITS
Cash Send a check, give online or make a gift over the phone. The simplest way to make your donation.
Securities Transfer your securities to Xavier and the school will sell them to fund an area of need.
1. You receive an immediate tax deduction for the fair market value of the securities on the date of transfer regardless of what you paid for them (if the gain is long-term).

2. You do not pay capital gains tax on the securities donated.
Personal Property Transfer your collectibles, paintings or personal property to Xavier. Xavier may sell the item and use its proceeds to fund an area of need.
1. You receive gift credit and an immediate tax deduction for the appraised value of the gift as long as it meets IRS "related use" standards.

2. No capital gains tax is paid.


ESTATE_GIFTS HOW IT WORKS BENEFITS
Will or Living Trust Include a bequest provision in your will or revocable living trust.
1. Your assets remain in your control during
your lifetime.

2. There is no upper limit on the estate tax 
deductions that can be taken for charitable bequests.

3. You can modify your bequest at any time if circumstances change.
Retirement Plans Name Xavier College Preparatory as the beneficiary of your IRA, 401(k), 403(b) or other retirement plan.
1. Xavier will not have to p ay estate or income tax on the remainder of the plan.

2. Give the most taxed asset to Xavier and give the others to your heirs.

3. You can continue to take withdrawals during your lifetime.

4. You can modify your beneficiary if circumstances change.
Life Insurance Name Xavier College Preparatory as the beneficiary of your paid in full policy. Your gift will be funded by income not capital.


Xavier College Preparatory

4710 North Fifth Street
Phoenix, Arizona 85012
P. (602) 277-3772
F. (602) 279-1346

National Blue Ribbon Recipient

1990-91
1994-96
2013

Accreditation

AdvancED
Western Catholic Educational Association