What Is The Legacy Society?
The Legacy Society is an honorary association of men and women whose planned gifts will sustain Thomas Aquinas College for generations to come. The College’s gratitude for the vision and providence of the Legacy Society is expressed by recognition of its members in the College’s publications and by furnishing them with timely and pertinent estate planning information. Members also are guests at the College’s special events. Most important, they are regularly remembered in the many Masses and prayers offered on campus for them and their intentions, as well as on their birthdays in Masses offered by the College’s alumni priests.
Members of the Legacy Society can aid the College in a wide variety of ways. Tresa and Hugh Moore,for example, participate in the charitable gift annuity program. Helene and Alphonse Calvanico are establishing an endowment for financial aid in the name of their two late sons, Robert and Richard. And the late Dr. Ruth Hoffman,like many other Legacy Society members, included the College in her estate planning.
Founded by the Board of Governors,the Legacy Society helps to more firmly establish the College for generations to come. In this way, Legacy Society members truly share in the College’s mission and its responsibility to form well the minds and souls of our young people so that they will uphold the truth, maintain and protect their Catholic heritage, and live lives of exemplary virtue.
What is a legacy gift?
A legacy gift is a donation made through a will or a living trust, through a charitable remainder trust or a charitable gift annuity, or by designating the College as a beneficiary of a retirement plan or a life insurance policy. Many legacy gifts are made by benefactors who regularly support the College and who wish to extend that support into the future. A legacy gift may also be an opportunity to make a larger contribution than might otherwise be possible. For some friends of the College, a legacy gift will be their single gift.
Though the principal motive for a legacy gift is a desire to support the College, there are also significant financial incentives and benefits for donors. Legacy gifts may provide federal and state charitable income-tax deductions. They may reduce or eliminate capital gains and estate tax liability. They may pay income for life: gift annuities and charitable remainder trusts can produce substantial income streams.
A legacy gift is an expression of confidence in the College and its urgently important mission: Catholic liberal education. It is an investment in the future of the young men and women — our children, grandchildren, and great-grandchildren — whose lives will be blessed by the wisdom and virtues Thomas Aquinas College will help them attain. Through these young people, a legacy gift is a gift to the Church and to our country.
“We’re aiming for the truth in all we learn here, and developing the skills to apply that truth. This formation will keep me strong for life.”
– Aileen McCarthy (’14)