How to Give: Planned Giving
Planned giving (also known as Legacy Giving) allows you to plan now to leave a legacy and help perpetuate the mission and programs of WSCC. It can also provide income, avoid or minimize capital gains, and ensure the programs important to you are supported beyond your lifetime.
If you have named the West Side Catholic Center as a beneficiary for any of the gift types below, or another type of deferred gift to be realized at a later date please let us know.
Our Planned Gift Commitment Form can be completed and emailed to dtomer@wsccenter.org or mailed to
West Side Catholic Center
Attn: Diane Tomer
3135 Lorain Ave
Cleveland, OH 44113
Wills and Bequests
The most common way to make a planned gift is through a will or bequest. By naming the West Side Catholic Center in your will and making a bequest, you can significantly reduce the tax burden of your estate.
Life Income Plans
Through life income plans you can make a gift to the West Side Catholic Center that will return income to you, offering substantial tax benefits and increasing cash flow.
Charitable Gift Annuities
In exchange for a transfer of cash, marketable securities, or in some cases, real estate, the West Side Catholic Center contractually agrees to pay a fixed sum to you and/or another beneficiary for life. The payment rate depends on the age of the beneficiary — the older the beneficiary, the higher the payment rate.
You can claim a current charitable deduction for the portion of the transfer, which represents the charitable gift. Payments, which can be deferred if income is not needed immediately, are partially tax-free. The West Side Catholic Center receives the remaining principal at the death of the income beneficiary.
Charitable Remainder Trusts
Charitable remainder trusts allow financial and estate-planning flexibility. They are similar to other types of trusts, except that West Side Catholic Center, the charitable beneficiary, receives the remainder interest. You entrust the property, specifying how trust income and the remainder interest will be distributed. A trust created during life takes advantage of income, capital gains, and estate-tax savings. A trust effective at the end of the donor's life is especially useful for accepting retirement-fund assets.
Retirement Plans
Retirement plans are often subject to both income and estate taxes upon the death of a participant. By naming West Side Catholic Center as a beneficiary of the balance of qualified retirement plans, your estate can achieve substantial tax savings.
Life Insurance
Many people own some form of life insurance because of its unique ability to meet a variety of needs for financial protection. By naming West Side Catholic Center as a primary or secondary beneficiary of a life insurance policy, your estate will be allowed an estate-tax charitable deduction.
If you have already made a Legacy Gift to the West Side Catholic Center, please let us know. We would be honored to recognize you as a member of our Legacy Society. Consider sharing this good news with us by completing a confidential statement of intent. If you prefer your gift to remain anonymous, please be assured your wishes will be respected.
For more information, contact our Director of Advancement at 216-631-4741 x102.
The services of West Side Catholic Center Advancement Department are not intended as legal or financial advice. Please consult your personal advisers for the applicability of any of the information contained on this website to your own situation.
