The
Need For Endowment Funding
Historically, educational and charitable institutions have relied
upon major cash gifts from individuals, corporations and foundations
with financial ability to make such contributions. These gifts for
endowment have provided institutions with a perpetual financial
base, which generates dependable annual income, allowing the institutions
to plan for their future funding needs.
However, through
the use of Life Insurance it is possible for any donor to create
a truly substantial endowment far beyond normal expectations. Today,
endowments created and funded by Life Insurance are rapidly becoming
a popular giving method for people from all walks of life and income
levels.
The Tyler Catholic
School Foundation (TCSF) has a program which encourages individuals
to help TCSF create an endowment through gifts of Life Insurance.
This program is designed to build the Foundation’s financial
base for support of the Tyler Catholic School System (Saint Gregory
Elementary, Bishop T. K. Gorman Middle School and Bishop T. K. Gorman
High School).
A Living
Gift
Your gift of Life Insurance to the Tyler Catholic School Foundation
can be like an Eternal Flame, a light that never fails. The proceeds
from your policy will be used to endow a perpetual fund at the Foundation
- a fund which you can name in honor of a loved one and, just as
important, a fund which you will create in your lifetime for support
of the school system.
The income from
this endowment will be used entirely for purposes consistent with
your desires and the needs of the Tyler Catholic School System.
Your endowment could provide scholarship assistance or student aid
for deserving students, development for faculty and staff, or a
number of other general needs.
Why
Life Insurance?
Life Insurance is an ideal vehicle for endowment funding. A relatively
small annual contribution keeps it in force. A gift of Life Insurance
enables a donor to make a significant cash gift without depriving
his or her family of income or depleting an estate.
How
May I Participate?
1. You, or a member of your family, purchase a policy and designate
the Tyler Catholic School Foundation as the owner and beneficiary.
2. Your premium contributions may be made directly to the Insurance
Company or directly to the Foundation as charitable gifts and may
be paid annually or semi-annually. If payments are made to the Insurance
Company, please notify the foundation on a periodic basis of the
payment. If premiums are made to the Foundation, a friendly reminder
will be sent as needed in advance of the due date.
3. A policy is issued to the Foundation and is kept in a secure
area with other valuable documents, so that the assets of the policy
can be included in our annual audit.
4. A medical examination may not be required.
5. Waiver of premium for disability may be included.
What
Will My Gift Mean To Me?
1. It will give you the satisfaction of knowing that you have made
a perpetual gift of substance in support of the Foundation’s
ongoing mission of assisting the Tyler Catholic School System in
providing excellence in education in a Christian environment.
2. It will give you the joy of knowing you have left a legacy for
the future, which will advance the ideals and principles of Catholic
education beyond your years on this earth.
3. It will give you the assurance that you are helping to ensure
a strong and promising future for Catholic education.
4. It will provide you with an opportunity to create a living, perpetual
memorial for yourself, a family member or someone who has been very
special to you.
5. It will provide you with an annual tax-deductible contribution
for income tax purposes if you itemize.
What
Will My Gift Mean To the Tyler Catholic School Foundation?
1. It will help to ensure the Foundation’s future financial
ability to assist the Tyler Catholic School System in their quest
for excellence in education in a Christian environment.
2. It will assist the Foundation in developing long-range plans
for an orderly and stable future.
3. It will provide a major cash gift to the foundation by the donor
making small annual or semi-annual contributions in the form of
premium payments during his/her lifetime.
4. Important projects can be started during your lifetime because
of the guarantee of future insurance proceeds.
5. A Gift in the amount of $25,000, or more, will qualify a donor
to establish a Fully Endowed scholarship in the name of his/her
choice when the policy is fully paid, or the proceeds of the policy
are distributed to the Foundation.
An Overview
Of The Tyler Catholic School Foundation
Tyler Catholic School Foundation is a non-profit foundation established
in 1983. Its purpose is to receive, administer and distribute donations
and bequests for the benefit and enrichment of the quality of private
Christian education through the Tyler Catholic School System. This
is accomplished by:
- developing
a permanent endowment fund.
- providing
an informational service for persons interested in supporting
Catholic education at many different levels.
- providing
a focal point for lifetime memorial, philanthropic and testamentary
gifts for the benefit of the children it ultimately serves.
The Tyler Catholic
School Foundation is made possible by individuals and businesses
that care about all aspects of the quality of life in the community
at large, and its efforts are entirely dedicated to their concerns.
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