Gifts from Your Will

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Bequests to College of the Holy Cross

Include a bequest to College of the Holy Cross in your will. You can make your bequest unrestricted or direct it to a specific purpose. You may even indicate a specific amount or percentage of the balance remaining in your estate.

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Benefits

• Your assets remain in your control during your lifetime.
• You can modify your gift to address changing circumstances.
• You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
• Under current tax law, there is no upper limit on the estate tax deduction for your charitable bequests.

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Planning Tip

If you express your gift as a percentage (e.g., "20 percent of the residue of my estate"), you can maintain the same relative gifts to charities and your heirs, regardless of changes in estate value. If you're considering designating your gift for a specific purpose, such as a scholarship fund, or support for a specific department, contact us to ensure that we understand your wishes.

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Sample Bequest Language

You may wish to share the following sample language with your attorney:

Unrestricted bequest

I give, bequeath and devise all (or ____ percent) of the rest, residue and remainder of my estate to Trustees of the College of the Holy Cross (Tax ID# 04-2103558), a corporation of the State of Massachusetts, located in Worcester, MA,for the general and educational purposes of said Corporation.

Bequest for a specific purpose

I give, bequeath, and devise to Trustees of the College of the Holy Cross (Tax ID# 04-2103558), a corporation of the State of Massachusetts, located in Worcester, MA,the sum of $_______ , (or, ____ percent of the rest, residue and remainder of my estate) to be used to support ___________________ (name of program or academic area.) In the event the need to support _____________ no longer exists, Trustees of the College of the Holy Cross shall be and hereby are authorized to use this bequest for a purpose in keeping with the spirit of this gift in the best interest of the College.

NOTE: If you wish to restrict your bequest to a specific purpose or program at College of the Holy Cross, please contact the Office of Gift Planning in advance to assure that the language you include will accomplish your wishes and align with the College's needs.

Endowment funds for a restricted purpose

If your bequest will be used to establish an endowment fund for a restricted purpose, we recommend that you and your counsel consider adding a "saving clause" to your bequest provision. A "saving clause" is a way to ensure the usefulness and relevance of your bequest in the future as the College's needs and priorities change. For example:

"If, in the future, it is the opinion of the Trustees of the College of the Holy Cross that all or part of the income of this fund cannot be usefully applied to such purpose, it may be used for any related purpose which, in the sole opinion of the Board of Trustees, will most nearly accomplish my wishes."

Download a Guide to Giving in Your Will Tell us more about your future gift Document Your Bequest Intention
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Beneficiary Designations from Retirement Accounts and Other Funds

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Beneficiaries of your Retirement Plan or your IRA

Designate College of the Holy Cross as a beneficiary of part or all of your qualified retirement plan or your IRA. Normally the assets held in an IRA or qualified retirement plan will be subject to both income tax and estate taxes, but if you name the College as a beneficiary of a percentage (or all) of your plan, that portion will pass to College of the Holy Cross free of income or estate taxes.

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Payable on Death Bank Account Designation

Designate your bank account to be payable on death (P.O.D.) to College of the Holy Cross when you die. There is no change in ownership, control, or benefit from this account while you're still alive. The payable on death designation takes effect only when you die, and causes whatever funds that are in the account to go to College of the Holy Cross at your death.

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Transfer on Death Brokerage or Investment Account Designation

Designate your brokerage or investment account to be transferable on death (T.O.D.) to College of the Holy Cross when you die. It's not necessary for the T.O.D. designation to transfer all of the account solely to College of the Holy Cross. You can designate percentages of the account to pass to additional beneficiaries. To set up the T.O.D. endorsement, contact your investment advisor and provide the instructions regarding the change.

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Make Gifts to College of the Holy Cross

Tax ID# 04-2103558

Download a Guide to Giving Retirement Plan Assets Tell us more about your future gift
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Gifts That Pay You Income

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Fixed Payments for Life

A charitable gift annuity allows you to gain the security of fixed, guaranteed payments for life, receive a tax deduction for a portion of your gift, and make a gift to College of the Holy Cross that you may not have thought possible.

Learn More  

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Fixed Payments for Later

If you don't need income right away, you can obtain both a higher payout rate and a larger charitable deduction by establishing a deferred charitable gift annuity. A deferred gift annuity allows you to receive a guaranteed, fixed income for life that begins when you need it, and receive a tax deduction for a portion of your gift to College of the Holy Cross.

Learn More About Flexible Gift Annuities  

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Variable Payments that can Grow

Charitable remainder trusts allow you to make a gift of cash, stock, or real estate to College of the Holy Cross, receive a tax deduction for a portion of your gift, and receive variable income from your unitrust for life.

Learn More About Charitable Remainder Unitrusts  

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Gifts of Appreciated Assets

Gifts of Publicly Traded Securities

Giving publicly traded shares of stock, bonds or mutual funds to College of the Holy Cross allows you to turn an appreciated asset into support for students and faculty.

Learn More

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Gifts of Closely Held Stock

Own your own business? It's also possible to give closely held stock to College of the Holy Cross.

Learn More

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Gifts of Personal Property

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Gifts of Real Estate

Using real estate to make a gift allows you to turn an asset into support for students and faculty at College of the Holy Cross, receive a charitable income tax deduction, and potentially avoid paying capital gains taxes.

Learn More about Gifts of Real Estate

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Gifts of Retained Life Estate

A retained life estate allows you to make a gift of a personal residence or farm to College of the Holy Cross, receive a tax deduction for a portion of your gift, and continue to use your property while you are still alive

Learn more about gifts of retained life estate
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Gifts of Life Insurance

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Make College of the Holy Cross a beneficiary of your life insurance

Making a gift of life insurance allows you to transfer ownership of a paid-up life insurance policy to the College. College of the Holy Cross elects to cash in the policy now or hold it.

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How You Benefit from a Gift of Life Insurance

• Make a gift using an asset that you and your family may no longer need.
• Receive an income tax deduction equal to the cash surrender value of the policy.
• You may be able to use the cash value of your policy to fund a gift that delivers income, such as a planned gift annuity.

Download Life Insurance Information
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Gifts through your Donor Advised Fund

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Donor Advised Fund

Designate the College to receive all or a portion of the balance of your fund through your fund administrator (you can also make a grant to us at any time from your donor advised fund). The balance in your fund passes to College of the Holy Cross when it terminates.

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How You Benefit

• You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
• Maintain flexibility to change beneficiaries if your needs change during your lifetime

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Gifts Through Trusts

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Grantor Charitable Lead Trusts

A grantor charitable lead trust allows you to give an annual income to College of the Holy Cross, receive a charitable income tax deduction, and retain the trust principal when the trust's term ends.

Download A Grantor Charitable Lead Trust

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Charitable Remainder UniTrusts

A charitable remainder unitrust allows you to donate cash or appreciated assets and receive annual payments as a fixed percentage of the trusts value. When the value of the trust increases, so do your payments and your gift to College of the Holy Cross. Your donation qualifies for an immediate tax deduction, and the assets in the trust are exempt from capital gains taxes.

Download a Guide to Establishing a CRUT Contact Us for More Information  

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Flip UniTrusts

A flip unitrust allows you to donate illiquid assets like business interests or assets earning little or no income like real estate to receive an immediate tax deduction, and allow the value of those assets to appreciate in the trust tax free. When they are sold, the trust ‘flips' to a conventional charitable remainder unitrust and income payments to the beneficiary begin.

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Family Trust

A family trust is also called a charitable lead trust because the charity takes the 'lead' in receiving income for a period of time with the remaining assets going to the donor's family when the term of the trust expires. The donor receives an immediate tax deduction for their gift, and the assets that pass to the family.

Download a Guide to Establishing a CLT Contact Us for More Information
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Charitable IRA Rollover

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Make a Tax-Free Gift from Your IRA

If you're 70 ½ or older, each year, you can instruct your IRA administrator to transfer all or part of your required minimum distribution (up to $105,000) directly to College of the Holy Cross and avoid paying the tax had you taken it as income.

Make a Tax-Free Gift from Your IRA

An IRA Rollover allows you to make a gift to College of the Holy Cross directly from your IRA, pay no taxes on the transfer, and count the gift toward your required minimum distribution.

Learn More About Tax Free IRA Rollover

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How You Benefit

A charitable IRA rollover makes it easier to use IRA assets, during lifetime, to make charitable gifts.

• Your gifts count toward your Required Minimum Distribution but do not count as income for federal income tax purposes.
• If you've already used up your charitable deductions or don't itemize your deductions, you can still make gifts through tax-free IRA transfers.
• You can use tax-free IRA rollovers to make any kind of outright gift, including:
  • College of the Holy Cross Fund gifts
  • 50th Reunion gifts
  • Pledge payments
  • Gifts to scholarships or other endowed funds

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Maximum Gift

An individual taxpayer's total charitable IRA rollover gifts cannot exceed $105,000 per tax year.

Download a Guide to a Charitable IRA Rollover
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Ron Mattana '63

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"Father Swords pulled me through tough times when I thought of quitting. I prevailed because I had someone on my side."

When the grueling football schedule and academics made me think of quitting, Fr. Raymond Swords gave me confidence I needed. I put a chair in my dorm's utility closet, and studied long after the early lights out. I try to do my best with the gifts God gave me and I teach my dogs to do the same.

• Retired Air Force Lt. Colonel, 28 years in active duty or active reserve
• Bronze Star, Vietnam, 1967.
• Joint Service Commendation Medals from the Secretary of Defense, 1980 and 1981
• National and international competitor in the sport of IPO working dogs.
• Owner/Trainer of the 2012 New England IPO 3 Champion.

future gift

My life savings will create a scholarship for students at the College, a second at Holy Cross High in Flushing, NY, and a third will benefit children of injured military veterans.

favorite quote

"What we do for ourselves alone dies with us. What we do for others and the world remains and is immortal." –Albert Pine

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Eileen Stevenson, R.N.

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"Holy Cross gave me a terrific husband. So I'm giving back with a gift in my will."

St. Vincent Hospital School of Nursing, Class of 1968 and wife of Rob '67 for 50 years.

Rob and I met at my first HC mixer in the fall of 1965.

My nursing dorm was 2 miles from Wheeler where Rob roomed. No matter the weather, we'd walk the distance just to see each other.

We were so in love back then - we still are.

Thank you, Holy Cross.

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Mary & Terry Donahue '63

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"Knowing this news will bring smiles to their faces makes us happy."

TSome students arrive at Mount St. James on a "wing and a prayer," hoping that their family's finances will be stable all four years. If their situation changes, the Donahue Family Scholarship will provide the support they need to complete their education at Holy Cross.

FAMILY CRUSADERS Two of their seven sons (Jack '85 and Brian '88) and three grandchildren (Karalyn '15, Daniel '18 and Meghan '21).

FUNDING STRATEGY Four charitable gift annuities plus additional yearly gifts made by the couple and family members. Their wills include a "topping off" gift, if needed, to fully fund their scholarship commitment.

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Donal Sullivan '58

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"Got some stock. Got a bonus. Got a remainder trust. Got no regrets."

family

Wife, Martha, and father of four including Sheila Sullivan Zimmerman '90

future gift

"My wife Martha and I acted on the charitable remainder trust idea our advisor recommended. We get an income for the rest of our lives. At the same time, we are creating future legacy gifts for Holy Cross and two other institutions important to us."

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Pierce "Pete" Connair '48

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Pierce "Pete" Connair '48 knows all about big deals. The retired Sears executive, retired Naval Reserves captain and former Connecticut state senator has also worked in commercial real estate for more than three decades. Going to Holy Cross counts among the biggest deals of his life. That's why he has funded four charitable gift annuities at the College in four years, in addition to other generous support.

"Holy Cross played a big role in my life," says Connair, who was the first in his family to go to college. "My annuities are a smart way to give back. At my age, I get back about 9 percent annually for my gifts, plus tax benefits."

Connair enlisted in the Navy V-5 program in his senior year of high school in 1943, thinking he'd go straight to flight school. "Instead, they sent me to Holy Cross for math and physics classes first," explains Connair. "I still remember the panel of Jesuits at the philosophy oral exam."

Recalling Thomas Merton's description of Jesuits as "monsters of efficiency," Connair agrees that the Jesuits were great. "And that's why I support the College to this day," he says. "They're still doing a great job. The world desperately needs the kind of graduates that Holy Cross turns out."

Visit our website to read more about Connair, and how you, too, can leave a legacy at Holy Cross.

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Bob Dohrenwend '60, P95

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"When I graduated in 1960, I never imagined 60 birthdays later I 'd be partnering with Agnes Williams."

I always wanted to make a meaningful gift. So to mark one of my reunions, I purchased an insurance policy naming Holy Cross as beneficiary. Even with my growing family, the payments were modest enough to handle.

My future wife, Patty Niles, her sister, Sally, and Agnes Williams (née Neill) attended College of New Rochelle. Sally and Agnes were roommates and lifelong friends.

The Hope + Access Campaign for Financial Aid, was inspired by Agnes ' $25 million bequest gift. Its matching money means our family scholarship will be awarded starting Fall 2021, even though our contribution comes later.

The Williams Match promises today 's and tomorrow 's students hope and access to the same riches that Agnes, Sally, Patty and I received: a Catholic education emphasizing God-centered lives of service.

Through the grace of the Hope + Access Campaign, we 've come full circle.

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Maura (Kelly) Fredey '94 and Gene Fredey '93

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"Holy Cross values are present in everything we do. The College is in our estate plans so the world continues to receive those gifts."

maura: "Our HC education, the friends we made, and learning the Jesuits ' values are gifts from God. For all we received, our duty is to pay it forward."

gene: "It is easy to name HC as a beneficiary of a retirement account or in a will. In our estate plans, our goal was to give back to the college that has given us so much."

Can you puzzle out this signal nautical flag tweet? Each flag represents the first letter of a slightly shortened, well-known phrase. (Answer below)

The Williams Match promises today 's and tomorrow 's students hope and access to the same riches that Agnes, Sally, Patty and I received: a Catholic education emphasizing God-centered lives of service.

Through the grace of the Hope + Access Campaign, we 've come full circle.

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Bill Gilmartin '71

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"My parents had big dreams for me: Holy Cross helped make them happen. The gift in my will is the most concrete way I can show my undying gratitude."

I was raised in Chicopee, Mass. I'd be called a first-generation college student today.

My father was a policeman and my mother a waitress. We weren't astute about the college application process, so HC's generous aid package came as a shock. It meant I could make something of myself.

As a waiter in Kimball, I learned a lot from upper classmen waiters when we ate dinner together after serving. Jim Matthews '70 and others mentored me and John Skoczylas '71 from nearby Holyoke became a friend.

I was proud to credit History Professor John Anderson in my Senate confirmation hearing, for inspiring me to work in government service.

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Jeffrey Gould '77

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"Because of the generosity of others, I was rescued."

This is Spruce, a rescue dog that I adopted at thirteen weeks old.

Like Spruce, I was rescued and given another chance.

I was in my sophomore year at Holy Cross, and I had run out of money.

I had packed up my old Plymouth, said goodbye to my pals on Easy Street, and drove to Fenwick Hall to sign off and make the long drive home to Dunkirk, N.Y., a steel town west of Buffalo. Before I could leave, Frank Delaney, the financial aid director, came running out to stop me, telling me to come back inside while he tried to find some way for me to stay. I sat in the hallway outside his office, worrying about whether my car could safely make the long trip home. Abruptly, he came out and told me to unpack - he had found scholarship funds that would allow me to stay.

I vowed to repay that moment.

So, this year, I created an estate plan that will provide a scholarship for future students at Holy Cross. It will help young adults access a Catholic education grounded in a life of service to others, giving them a chance - and hope.

You, too, can ensure future student success. We would be glad to welcome you into the 1843 Society.

Contact forothersforever@ holycross.edu or call (508) 793-2379.

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Margaret Lanzetta '79

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"At Holy Cross I learned to believe, 'Yes, I can."

"The 70's were an important time in the women's movement. HC was still so "male" that strong women on campus made sure their voices were heard.

Professors Terry Priest, Joan Italiano and Sister Anna Kane were independent, fearless role models who inspired me to move forward in the world as a woman and an artist.

Working with the College and my attorney, I arranged for my will to create an endowed art fund. I want to open up the world to future students as it was opened up to me."

Her Art: Creates culturally significant patterns that explore language, political power, spirituality and migration by combining digital technology, painting and textile.

Her Awards: 3 multi-country Fulbright Fellowships in India, Singapore, Thailand, Syria and Germany.

Her Works held by: Museum of Modern Art, NY; British Museum, Victoria and Albert Museum, Cantor Art Gallery and Brooklyn's MTA Norwood Subway Station.

You, too, can open the world to future students.

Contact forothersforever@ holycross.edu or call (508) 793-2379.

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Tom Moore '65, P95 & Inez Walsh Moore P95

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"Inez and I have six children, but our wills say we have eight."

When Tom married into Inez's family, there were five Walsh Crusaders

Now the Walsh-Moore clan has eleven, stretching from Inez's father Corby Walsh '28, the student manager of the College's 1928 national championship-winning baseball team; to their daughter Martina '95; and her son Andrew Cravedi '21.

In their wills, th eMoores added two more "children" - #7 is Holy Cross and #8 their Catholic secondary schools. Each of their children, including the College of the Holy Cross and the secondary schools, will receive 1/8th of their estate.

Says Tom, "Holy Cross and the secondary schools, will receive 1/8th of their estate.

Now it will be forever."

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Liz (Norberg) Rogers '09 & Fran Rogers '08

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Liz (Norberg) Rogers '09

Senior Education Advisory and Member Services Associate, Boston College Center for Corporate Citizenship

• Trains corporate executives to create positive impact around the world.
• Threw out the first pitch at a BoSox game last season with her long-time mentee Beatrice, a former student at Mother Caroline Academy (Dorchester) and now sophomore at Bowdoin College.
• Totally washed up soccer star - all-state goalkeeper and state champions in high school and national champion for club teams. More recent achievements: running Boston Marathon, summiting Mt. Washington and, just this morning, walking upstairs without getting winded.

Fran Rogers '08

Major Gifts Officer, Boston Symphony Orchestra and Regularly performs the Star Spangled Banner for the Celtics, Patriots, and Red Sox

• First date: 10pm Mass at St. Joseph Chapel followed by coffee at Cool Beans, then a late night viewing of the movie "Fever Pitch" and an epically failed attempt to see the sunrise from Fitton Field.
• First dog: Joanna, named after St. Joe's, where they were married 5 years later.
• First child: Due December 16, 2017. Name/gender/eyeglass prescription: TBD
• Founding members of a young professionals group that raises funds for underserved populations at Catholic schools in the Boston area.
• Travel junkies - favorites include Italy, Ireland, Austria, Kenya, Mexico, and Jamaica.
• In college - together coached a Worcester youth soccer team. Liz provided the soccer expertise and Fran came up with cool nicknames.

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Rita joan Santelli '95

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Rita joan Santelli '95 pictured in her favorite spot - NYC's iconic Grand Central Station.

It too me less than one minute to become For others. Forever.

How long will it take you?

HOW Logged into her 401(k); added Holy Cross as a beneficiary; emailed "I'm in" to forothersforever@holycross.edu.

WHERE From her iPhone

WHY "Because the timeless Spirit that is Holy Cross carries me forward every single day."

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Tom Schneckner '04

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"I love telling people I went to Holy Cross. It brings me tremendous pride to be part of the Holy Cross family. As a thank you, my wife and I have named the College in our estate plans."

Director, Portfolio Strategist, Merrill Lynch with wife, Gail, Owner,Gail Marshall Interiors

• 2001 freshman walk-on to men's golf team
• 2017 hosts of the HC men's golf team at the Loxahatchee club, Jupiter, Fla.
• Scored just well enough with HC's team at Loxahatchee to be awarded an honorary roster spot by coach Bob Molt

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