The O’Hara Fund
The O’Hara Fund
is the cornerstone of giving to Cardinal O’Hara High School. The fund comprises unrestricted giving from all sources that support all school programs and activities. Teacher salaries, scholarship aid, library books, technology and building maintenance are all funded in part by annual giving. Without a vibrant O’Hara Fund, tuition would have to be raised to support these programs, thus the annual fund enables the school to keep tuition at an affordable level for Delaware County area families.
A gift in memory of someone you love or admire can be a particularly meaningful way to contribute to O’Hara. A memorial gift may be made to The O’Hara Fund or as a capital gift and may be restricted or unrestricted.
Gifts in Kind
Non-cash gifts of property such as computers, books, scientific equipment, art materials, etc. also make important gifts. The fair market value of such items is deductible for income tax purposes. A formal appraisal is required by the IRS for gifts in kind valued at over $5,000.00.
Gifts of Securities
A gift of appreciated securities is one way to make a significant contribution at a reduced cost to you. Federal tax law allows a charitable deduction for the full market value of securities on the date of your gift.
Gift of Real Property
Real property can be given as an outright gift or by request.
There are a number of ways to make a gift of life insurance:
- Absolute Assignment: You may wish to transfer ownership of a policy that has outlived its original purpose.
- Co-Beneficiary: You may name Cardinal O’Hara High School as a co-beneficiary of part of the proceeds of a new or existing policy.
Gift Annuity Agreements
Gift annuity agreements allow you to make a gift to Cardinal O’Hara and receive fixed annual payments for life. You are allowed a tax deduction for a portion of the amount transferred and for a period of years on part of the payments will be taxed as income. The size of the payments is based on the age(s) of the recipients at the time of the gift.
Charitable Remainder Annuity Trusts and Unitrusts
These enable you to make a significant gift to Cardinal O’Hara during your lifetime and continue to receive income for yourself and/or other beneficiaries. After the life interests have passed, the remaining principal will pass to Cardinal O’Hara. In addition to income tax deductions in the year the trust is instituted (with five-year carry over privileges), donors may avoid capital gains and significantly reduce estate and gift taxes.