Planned Giving

Planned Giving: The Baron Legacy Society

Planned Gifts refers to estate assets that are given in support of long range goals. Those who remember St. Petersburg Catholic in their wills, bequests and other estate gifts such as life insurance policies, annuities, remainder trusts, etc., are members of the Baron Legacy Society, and are vital to preserving the future of St. Petersburg Catholic High School. 

Many planned gifts are in the form of a trust. Charitable Lead trusts, Charitable Remainder trusts are devised by an attorney and established with the trust department of a bank or a trust company. But there are simpler planned gift arrangements such as endowment funds and charitable gift annuities.

The Baron Legacy Society members are those who have indicated in writing that they have made provisions for St. Petersburg Catholic High School in their estate plans. In addition to being a meaningful gift to St. Petersburg Catholic High School, “planned giving” helps to reduce or eliminate taxes.  Please check with your financial planner or accountant for more details on arranging for a planned gift, and the personal benefits associated with that charitable gift.

If you have made arrangements for a gift to St. Petersburg Catholic, in your estate planning and wish to be listed as a member of the Baron Legacy Society, please contact the Office of Advancement at (727) 344-4065, ext. 1227, or email [email protected].

Most legacy gifts, including gifts that are made to schools like St. Petersburg Catholic High School, are made through a bequest within a will. These include a bequest for a specific amount, a residuary amount or contingency. Contact the Advancement Office for the wording in making a bequest.

Several types of personal assets are transferred outside of your will through beneficiary designation. Common funds with beneficiary designations include:

IRA,, 401(k) or Other Retirement Plan

Life Insurance – A Whole life/universal life or term insurance policy

Endowment Funds

Create a legacy with a gift that keeps on giving. The purpose of these funds are to ensure that the original donation is preserved while income earned on the investment is available for use each year for the beneficiary. The purpose of the endowment is up to the donor, but typically endowment funds support scholarships and tuition assistance, technology, programs (e.g. Performing arts) building and grounds upkeep, teacher and staff training and resources, etc. The money raised for an endowment is perpetual because only the investment returns are used toward the set purpose, while the principal remains untouched. A new named endowment can be established for a minimum gift of $25,000.

Charitable Gift Annuity

A Charitable Gift Annuity (CGA) is a type of planned gift that allows a donor to receive fixed payments from the invested principal throughout their lifetime and leave the remainder to St. Petersburg Catholic High School upon their passing. CGA’s usually are contracted with donors who are 65 years or older and a gift of $5,000 or more.

Help with Your Planned Giving

Bequests, Endowment Funds, Memorial and Honorary Gifts, Charitable Gift Annuities may be arranged with the professional assistance of the Catholic Foundation of the Diocese of St. Petersburg. Visit catholicfoundation.org or 727-374-0220.