• The donor purchases an insurance policy or assigns an existing policy to the Mount, naming the College as beneficiary.

Features

• The donor contributes the amount of the premium to the Mount annually and takes an income tax deduction.
• The Mount pays the premium to the insurance company.

Benefits

• The donor makes a substantial gift to the Mount after her or his death through a modest contribution of insurance premiums.
• The donor makes a gift of property without legal or administrative costs.

Tax Consequences

• When contributing a new policy, the donor receives an annual income deduction for the premium payments

OR

• When giving an existing policy, the donor receives a one-time income tax deduction for the amount of cash value in the policy.

Jean Zimmerman Kotzbauer '64, Director of Development, can help you create a charitable gift plan that will fulfill your financial and philanthropic goals. Contact her at jean_kotzbauer@mail.msj.edu or by phone at (513) 244-4475 or (800) 654-9314 ext. 4475.

The College of Mount St. Joseph is not engaged in rendering legal or tax advising services. For advice and assistance in your specific case, the services of an attorney or other professional advisor should be obtained.