1. How is the mission of St. Francis De Sales Foundation accomplished?
St. Francis De Sales Foundation (SFDSF) is an independent, publicly supported philanthropic corporation. It was created and designed to receive, manage and distribute gifts, endowments and bequests for the benefit of the St. Francis De Sales Academy and its community. Assets held by SFDSF are managed by an Advisory Board comprised of talented and successful business and professional persons from the community.
The wise distribution of money to St. Francis De Sales School System is the primary purpose of SFDSF. These distributions are typically made for (but are not limited to) scholarship assistance, programmatic aid, and a number of other general needs. Gifts are received and distributions made from SFDSF based on the following principles:
1. Addressing the greatest needs first. Based on information provided by the St. Francis De Sales Academy, SFDSF attempts to address the greatest needs first according to the funds available.
2. Guaranteeing flexibility. Donors may wish to see their gifts restricted to a particular program supported by SFDSF and whenever possible requests of this type will be honoured.
3. Creating and Perpetuating Memorials. SFDSF presents many opportunities for dignified, lasting memorials to publicly perpetuate the names of beloved individuals, living or deceased. Long after flowers have faded, the children of St. Francis De Sales Academy will be served through the creation of these memorials, with SFDSF providing professional stewardship for their protection and effective use. However, complete anonymity will be honoured if requested.
2. Why should I use SFDSF to support the St. Francis De Sales Academy?
SFDSF was founded by St. Francis De Sales Academy to invest and manage endowment funds. In some cases, the nature of the asset gifted requires management by a professional fiduciary in order to retain and enhance its value. By combining the gifts of many donors into a single managed fund, an economy of size can be achieved that increases safety and the likelihood of stronger performance.
A gift to SFDSF is a lasting one, because only income earned from gifts are used, unless SFDSF is specifically directed to do otherwise. By making a gift to SFDSF, you are benefiting the children it serves today and far into the future.
3. How are SFDSF’s operating costs covered?
SFDSF strives to keep its operating budget extremely low. Necessary expenses are paid partly from investment income and partly from special gifts. Gifts of this type are always welcome.
4. Who benefits from SFDSF?
The immediate and ultimate beneficiaries of all SFDSF activities are, and always will be, the children of St. Francis De Sales Academy of Haiti and the community it serves. However, donors to SFDSF are secondary beneficiaries. ThroughSFDSF, persons with large hearts and small pocketbooks as well as those with greater means can have the assurance that their gifts will receive efficient, caring management at minimum cost and with maximum effectiveness as part of a large, professionally-managed fund.
5. Are my contributions to SFDSF tax deductible?
Trusts established or gifts made during a donor’s lifetime qualify in various ways as charitable contributions for federal income tax purposes. In addition, many types of gifts will reduce or eliminate the federal estate tax on larger estates. As always, consultation with your tax and/or legal advisor is strongly advised to ensure that you receive maximum benefit.
6. What Kinds of Gifts May I Make to SFDSF?
A donor wishing to support the St. Francis De Sales can make a donation in the following ways:
1. Unrestricted Gifts: These gifts are used as determined by the Executive Director and SFDSF Board of Directors.
2. Fully Endowed Scholarships: A gift of $25,000 or above becomes a fully endowed scholarship. Your gift can be paid as a lump sum or in installments over a defined period of time.
3. Charitable Trusts: A deferred gift through a trust appeals to many seeking tax relief today but without giving up the full use or benefit of their property until later. Planned giving through the use of trusts can provide income for you and your spouse, with freedom from the worries of investment management. SFDSF will be happy to explain the different types of trust vehicles available, which you should then discuss with your tax and or legal advisor.
4. Life Insurance: For many donors, life insurance is an ideal gift to SFDSF. A relatively small premium contribution keeps it in force. The benefit to SFDSF is usually many times greater than the premiums paid, allowing donors to make large contributions with minimal expense. Premiums paid on policies owned by and payable to SFDSF are generally fully deductible if you itemize.
5. Life Estate Contracts: This allows you to donate your residence or farm to SFDSF, taking an immediate deduction for a portion of the property value while enjoying full use of the property as long as you live. Your tax and/or legal advisor can help you determine the amount of the deduction and the suitability of this giving tool.
7. Can I leave a gift in my Will?
Yes, bequest can be made by simply stating in one’s Will that he/she wishes to leave a certain amount of funds, or a percentage of the estate’s assets with or without distribution instructions. Please use appropriate form based on your state of citizenship.
