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Estate Planning and Planned Giving

 

SUPPORT THE FUTURE OF

BISHOP KELLY HIGH SCHOOL

When you establish a legacy gift for Bishop Kelly High School, you make your values of education and generosity part of your life story.  Your impact will go on for future generation of BK students.

There are a variety of ways to make a lasting impact in your will, and you can demonstrate your commitment to Bishop Kelly and its student with a gift in your will, trust, or other instrument.

  • You can name Bishop Kelly or the Bishop Kelly Foundation as a beneficiary in your will.  Any type of asset (cash, securities, personal property, or real estate) may be used for a planned gift, which may be modest or very substantial, designated for a particular purpose or unrestricted.
  • You can give through a charitable gift annuity or charitable remainder trust and transform lives today while you and/or your loved one(s) receive income for life.
  • You can dedicate all or part of your retirement accounts, commercial annuities, life insurance policies, bank accounts, donor advised funds or other assets.

Any person who has made a planned gift to the Bishop Kelly Foundation will be invited to become a member of the our Legacy Society, group of special friends who have made a bequest by will or another type of planned gift to benefit the school. 

Bequests by Will

Everyone should have an up-to-date will drafted by a professional. This is the only way to ensure your final wishes for the distribution of your assets.

Leave a Legacy that Provides a Gift to Bishop Kelly in Perpetuity.

Naming the Bishop Kelly Foundation as a beneficiary for a gift in your will is an easy way to leave a lasting legacy. Gifts to the Foundation increase the size of the endowment, ensuring that it can continue to support BK and its students with revenue from the portfolio now and in the future. Your gift can be for a fixed amount, a percentage of your estate, or the residue after gifts to loved ones.

Options and Benefits

You can also make your gift in honor of, or in tribute to, a special person. Moreover, you have the option of designating the department, program, or service of your choice to benefit from your contribution. A gift to the Foundation can also reduce the amount of your federal estate tax.

Suggested Language for Wills and Trusts

Please think about these options before meeting with your lawyer – The following language shows various alternatives depending upon the nature of the gift (residuary gift, cash bequests, etc.) and whether the gift is unrestricted or designated for a specific purpose.

In a will: “I will give …”
In a trust: “The Trustee shall distribute …”

Choose one or more of the following options:

_____ % of my estate
_____ the residue of my estate
_____ % of the residue of my estate
$____ (fixed-dollar gift)
_______________ (description; for example, real estate, securities, etc.)

Unrestricted

“…to the Bishop Kelly Foundation, designated for the unrestricted endowment, which provides ongoing revenue to Bishop Kelly High School via an annual grant per the distribution defined in the bylaws of the Bishop Kelly Foundation.”

or

“ … to the Bishop Kelly Foundation, to be used at Bishop Kelly High School where the need is greatest, as determined by the Foundation’s Board of Directors.”

or

“…to Bishop Kelly High School where the need is greatest, as determined by the Bishop Kelly High School Board of Governance.”

Designated
“ … to the Bishop Kelly Foundation, to be used to support (description of specific purpose, for example, to create an endowed fund for a specific program or scholarship) at Bishop Kelly High School, Boise, Idaho; provided, however, that if at some future time the Board of Directors of the Bishop Kelly Foundation determines that it has become impossible or impractical to effectively apply the gift made hereunder to the restricted purpose specified (e.g., because a specific service or program no longer exists or its operation has been substantially reduced or changed), then the gift made hereunder shall be used where the need is greatest at Bishop Kelly High School, as determined by the Foundation’s Board of Directors.”

or

“…to Bishop Kelly High School, to be used to support (description of specific department or program).  However, if at some future time the Board of Governance at Bishop Kelly High School determines that it has become impossible or impractical to effectively apply the gift made hereunder to the restricted purpose specified (e.g., because a specific service or program no longer exists or its operation has been substantially reduced or changed), then the gift made hereunder shall be used where the need is greatest at Bishop Kelly High School, as determined by its Board of Governance.”

Mailing Address:
Bishop Kelly Foundation

7009 Franklin Road

Boise, ID 83709

Tax ID number: 82-033-2399

Recognition

Please let us know if you have named the Foundation as a beneficiary in your will so that we may properly thank you. We would be proud to list your name (unless you request anonymity) in our Legacy Society roster (we only list names, not amounts).