Planned Giving

What is Planned Giving?

Planned giving allows you to make a tremendous impact on Mount Carmel that may not be possible through an outright gift.

Planned giving encompasses the integration of personal, financial and estate planning goals with charitable giving interests. With a planned gift through your overall estate or financial plans, you can take advantage of immediate tax and income benefits while enabling Mount Carmel to continue its mission to live with Zeal for God, for life, and for learning. You don’t need to be wealthy or a certain age to make this type of gift, you just need a plan.

St. Albert Planned Giving Society

No matter when the benefits of your gift will be realized, we want to thank you for your contribution to the Mount Carmel community now. The Saint Albert Planned Giving Society provides lifetime recognition to donors who have made an ultimate gift and included Mount Carmel in their estate plan. Membership benefits include an invitation to an annual recognition event exclusively for St. Albert Society members.

Leaving a Legacy

Planned gifts will primarily work to build the level of resources of the Mount Carmel Educational Foundation. The Foundation supports and assists the charitable, religious and educational purposes of Mount Carmel High School by securing and investing financial contributions that will ensure the future financial stability of the school. To date, more than 60 planned gifts resulting in more than $3 million of support for Mount Carmel have been realized. These gifts have helped qualified young men whose families could not afford the full cost of tuition the opportunity to study at Mount Carmel.

Mr. Mike Holland '98

Director of Development and Planned Giving

773.324.1020, ext. 285

Planned Giving at a Glance

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Type of Gift   Advantages Beneficiary
Gifts that pay you income Charitable Gift Annuity
  • Current income tax deduction
  • Portion of payments may be tax free
  • Fixed and predictable payments
  • One or two annuitant beneficiaries
  • Mount Carmel is future beneficiary
Charitable Remainder Trust
  • Current income tax deduction
  • No capital gain recognition on appreciated assets
  • Diversification of investments
  • Payments for life or term of years
  • One or more beneficiaries
  • Mount Carmel is future beneficiary
Gifts Mount Carmel can use today Outright and Securities
  • Current income tax deduction
  • See gift in operation during your lifetime
  • Mount Carmel is immediate beneficiary
Charitable Lead Trust
  • Potential gift tax savings on transfer of assets to individual beneficiaries
  • You and your heirs are future beneficiaries.
  • Mount Carmel is immediate beneficiary
Gifts that take effect at death Bequest
  • Charitable deduction for taxable estates
  • Allows you to make a large gift at no immediate cost to you
  • Mount Carmel is the future beneficiary
Life Insurance
  • Allows you to make a large gift at little cost to you
  • Mount Carmel is the future beneficiary
Retirement Plans
  • Avoids double tax deduction
  • Mount Carmel applies the full amount of plan assets to the purpose you choose
  • Mount Carmel is the future beneficiary
Retained Life Estate
  • Currrent income tax deduction
  • Estate tax savings
  • Continued use of property for life
  • Mount Carmel is the future beneficiary
  • You retain lifetime beneficial use of the property