A Gift of a Life Insurance Policy
This week we received a gift of life insurance policy from a donor’s estate. When I was notified that Mount St. Scholastica was the beneficiary of this policy, I was surprised. I had not visited with the donor. The money from this life insurance policy will be very helpful for us in our ministries and our community needs.
At some time this donor decided that an insurance policy could be a gift to charity after death. To make a change in the beneficiary on your life insurance policy, you need to contact the insurance company. It requires filling out a new beneficiary form. Changing the beneficiary in your will is not enough. The beneficiary must be listed on the policy with the insurance company.
As circumstances of life change maybe the beneficiary of your life insurance account will need to be changed also. Designating a charity as beneficiary of your life insurance is a wonderful way to leave a legacy to Mount St. Scholastica.
Sister Mary Agnes Patterson, OSB at 913-360-6215 or patterson@mountosb.org.
Benedictine Sisters
Mount St. Scholastica
801 S. 8th St.
Atchison, KS, 66002
Tax ID: 48-054836
"I wish it could be more..."
Many times when I call a donor to say “thanks for your gift,” he or she responds with
“I wish it could be more.” One way you can make a greater gift to those close to your heart is to remember them in your estate plan. Naming Mount St. Scholastica along with your loved ones in your will or trust costs you nothing now and will save you taxes on your estate. Estate gifts are very important to our community as they help us care for our members, make needed improvements on our community property, and grow our endowment for our ministries at
Sophia Spirituality Center and Keeler Women’s Center.
To learn more about legacy gifts, check out our donate page at www.mountosb.org or contact:
Sister Mary Agnes Patterson, OSB at 913-360-6215 or patterson@mountosb.org.
Benedictine Sisters
Mount St. Scholastica
801 S. 8th St.
Atchison, KS, 66002
Tax ID: 48-0548363
Planning for your retirement fund
Recently our community received the retirement funds from a friend of the community who died. She designated Mount St. Scholastica as her beneficiary upon her death. She outlived her husband and benefitted from the fund during her lifetime. She decided that this fund would be her legacy to our community.
This gift is very helpful to our community in the care of our members, in building up our ministry fund, in our on-going upkeep of our buildings.
There are tax benefits of leaving your retirement funds to charity. This gift to charity decreases the estate tax burden for families. It increases the impact of your bequest as the charity does not pay tax on the assets from your retirement account.
To designate a charity as your beneficiary upon your death, contact your financial advisor or your retirement plan administrator.
Sister Mary Agnes Patterson, OSB at 913-360-6215 or patterson@mountosb.org.
Benedictine Sisters
Mount St. Scholastica
801 S. 8th St.
Atchison, KS, 66002
Tax ID: 48-0548363
Gift of Stocks and Mutual Funds
Some of our friends and family members choose to support us by donating stocks. These stocks are very helpful to us as we build up our community endowment for the continuing care of our sisters and the support of our ministries. Each year we use some of the income from our continuing care fund to meet the expenses of daily life for community members over 72 years of age. We also rely on this fund to help pay for the nursing care our sisters receive in Dooley Center.
Gifts of stock and mutual funds can bring tax benefits to you. Stock can be transferred directly into our account. Donors can get the information their broker will need by contacting me.
Sister Mary Agnes Patterson, OSB at 913-360-6215 or patterson@mountosb.org.
Benedictine Sisters
Mount St. Scholastica
801 S. 8th St.
Atchison, KS, 66002
Tax ID: 48-0548363
Recurring Gifts
Our monthly and quarterly donors are truly a blessing to us with regular gifts throughout the year. They are faithful friends who remember us and our ministries and know that they are partners with us. They support us in our work and prayer and services to others.
Many of our monthly and quarterly donors have set up electronic funds transfers from their bank to our bank. This is the easiest and least costly way of making a monthly or quarterly gift.
Others donors prefer to write monthly checks or donate by credit card on line.
These gifts provide a steady source of revenue and are really important in the “off season” of giving. Regular gifts are very helpful to our community as our expenses continue at a steady pace all year long.
To learn more about our Electronic Funds Transfer Program contact:
Sister Mary Agnes Patterson, OSB at 913-360-6215 or patterson@mountosb.org.
Benedictine Sisters
Mount St. Scholastica
801 S. 8th St.
Atchison, KS, 66002
Tax ID: 48-0548363
Donating from IRA
Recently a woman told me that since she was now 70 and ½ years old, she was required to take a minimum withdrawal from her IRA. The extra income from her IRA would have put her into the next higher tax bracket. She was happy to learn that she could support Mount St. Scholastica and help herself at the same time.
These donations are helpful to the donors and certainly to our community. We can use these funds to care for our elderly sisters or help support our ministries. Donors can designate their gift for a certain use or for general use to be determined by the community.
To donate from your IRA, contact your financial advisor.
Checks payable to Mount St. Scholastica
Sister Mary Agnes Patterson, OSB at 913-360-6215 or patterson@mountosb.org.
Benedictine Sisters
Mount St. Scholastica
801 S. 8th St.
Atchison, KS, 66002
Tax ID: 48-0548363
From Jewelry to a Piano
On a couple of occasions, women have donated some pieces of jewelry to us. Sometimes we can use these pieces for Night of Dreams silent auction items. However, if they are of higher value, we sell them and use the money for our ministry needs.
Last year we were able to purchase a new piano for our Sophia Center. Part of the money to purchase it came from a generous gift of jewelry. The donor was very happy to put her jewelry to good use and to support our ministry in Sophia Center.
The piano we had was no longer working and could no longer be fixed. A piano is very important for the prayers and the programs provided in Sophia Center. Many groups that come to Sophia Center want to use a piano, and now they are very happy to have a beautiful sounding piano.
For more information on what items can be donated contact:
Sister Mary Agnes Patterson, OSB at 913-360-6215 or patterson@mountosb.org.
Benedictine Sisters Mount St. Scholastica 801 S. 8th St. Atchison, KS, 66002Tax ID: 48-0548363