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A gift planning newsletter for alumni, parents and friends of Loyola Academy
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Fall 2022
A New Chapter in Loyola’s Leadership
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his July, Loyola Academy welcomed Rev. Gregory J. Ostdiek, SJ, as its ninth president. Father Ostdiek’s key responsibilities will be leading the Academy’s Jesuit, Catholic mission, sustaining focus on its strategic vision and directing the institutional advancement program.
He entered the Jesuits in 2008, teaching physics, coaching and moderating ministry activities and clubs at several Jesuit schools, including Loyola. He was ordained in 2019. He has served as a parish priest and prison minister. Currently, he is an administrator at Brebeuf Jesuit in Indianapolis and on the Boards of Loyola Academy and St. Xavier in Cincinnati.
Father Ostdiek, a native of Dayton, Ohio, holds B.A. degrees in mechanical engineering and English from the Prior to joining the Jesuits, Father University of Dayton, M.A. degrees Ostdiek was a member of the United in English from Pennsylvania State States Navy for 12 years, where he served University and philosophy from Rev. Gregory J. Ostdiek, SJ on a variety of ships, including as a Fordham University, an M.Div. in navigation instructor, a reactor training theology and a Th.M. in scripture from Boston assistant responsible for the training of a 450-person College School of Theology and Ministry and an department on a nuclear power plant and an executive Ed.M. in educational policy and management at officer and navigator second in command overseeing an 80-person crew that was deployed twice to the Harvard Graduate School of Education. Recently, he Arabian Gulf. completed an MPA from Harvard Kennedy School of Government. “I am tremendously excited to join Loyola Academy
‘‘I am tremendously excited to join Loyola Academy in its mission of serving Chicagoland and the world.”
in its mission of serving Chicagoland and the world,” states Father Ostdiek. “Loyola is a school with incredible students, a tremendously talented and caring faculty and staff who show daily their dedication to the school’s mission of forming women and men for others in service to the Church and the world and an amazing community. I am humbled and honored to be chosen to serve them in turn.”
Inside: • Operation Love LA—Keep the Dream Alive • Plan for Your Future—and Ours
Operation Love LA—Keep the Dream Alive
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n 2009, Loyola Academy celebrated its 100th year. This milestone was the culmination of the efforts of many individuals who studied hard, taught well and gave generously to realize the dream of a successful Jesuit college preparatory school on the North Shore of Chicago. Thousands of students have come to Loyola to expand their minds, exercise their bodies and learn about their faith. They have matriculated to the finest colleges and universities in the world and have gone on to successful careers in the private and public sectors. In the end, they have made the world a better place for others. Many along the way left Loyola Academy gifts in their estate plans that ensure the school will continue to thrive and students will continue to have access to the benefits of a Jesuit education. That is what planned giving means. It is the gift of giving back in recognition of what Loyola Academy has meant in your life.
There are thousands of Loyola Academy alumni, faculty, graduate parents and friends who Love LA as part of the Rambler family and have been inspired by this very special place. As you look forward, consider leaving a gift to an institution that has guided and inspired your life and the lives of your children. If you Love LA, you too can support our mission with a gift from your estate. The mission of the Love LA initiative intends to promote the advantages and ease of making a gift to Loyola Academy. Such gifts have potential to significantly impact the future of Loyola while also offering a number of benefits. Each year, Loyola relies on planned gifts to meet current and future funding needs and to build much-needed, large-scale capital enhancements. Go Ramblers!
The purpose of this publication is solely educational, namely to provide general gift, estate, financial planning and related information. It is not intended as legal, accounting or other professional advice, and you should not rely on it as such. For assistance in planning charitable gifts with tax and other implications, the services of appropriate and qualified advisors should be obtained. Consult an attorney for advice if your plans require revision of a will or other legal document. Consult a tax and/or accounting specialist for advice regarding tax and accounting related matters. © Copyright 2022 by Sharpe Group. All Rights Reserved. NNNPDF-22
Plan for Your Future—and Ours
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hen it comes to including us in their estate and financial plans, here are four ways someone can demonstrate their Love for LA.
1 Designate Loyola Academy as a Beneficiary in Your Will, Living Trust or Retirement Plan.
A legacy gift, or a gift through your estate, such as a provision for Loyola Academy in your will or living trust or designating Loyola Academy as a beneficiary of your retirement plan, is a wonderful (and simple) way to leave a legacy gift to Loyola Academy.
2 Charitable Lead Trust: “Charity gets the wool now; donor keeps the sheep.”
You can transfer assets to a trust for a fixed term, during which Loyola Academy receives the benefit of the trust’s income stream, with the trust assets transferred back to you or your heirs at the end of the term. •
Payments from the trust are disbursed annually.
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The income stream of the trust is not tax exempt.
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After the fixed term expires, the trust assets are distributed to either you or your beneficiaries.
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This distribution may have transfer tax benefits to your beneficiaries.
3 Charitable Remainder Trust: “Donor gets the wool now; charity keeps the sheep.”
You transfer assets to a trust for a fixed term, during which you receive the income stream from the trust, with the trust assets being transferred to Loyola Academy at the end of the term.
4 Gift of Securities can be better than Cash.
Gifts of securities like stocks, bonds and mutual funds have tax benefits over gifts of cash under the following conditions:
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If stocks have been owned more than one year, donors can deduct not just their original cost but also any “paper profit.” Best of all, no capital gain taxes are due when you give securities. Excess deductions can be carried over for up to five additional years. continued on Page 4
goramblers.org/planned-giving
Plan for Your Future—and Ours •
continued from Page 3
If you own stock that has dropped below the price you originally paid, consider selling shares and donating the proceeds. You’ll be entitled to a capital loss deduction and also a charitable deduction.
Loyola Academy offers many creative ways to structure your gift of a lifetime, allowing you to advance the mission of Loyola Academy while taking care of your loved ones. Please contact Tom Cramer, director of planned giving, at 847.920.2431 for additional information or a consultation.
Finding the Best Ways To Give This Year I want to give to Loyola and increase my retirement income. I am over 70½ and want to give today. I want to make a gift now.
I want to make a gift but need access to my assets now.
I want to provide for both my family and for Loyola in the future.
Charitable Remainder Trust Charitable Gift Annuity IRA Gift
Cash Gift Gift of Securities
Sample Bequest Language
Gift by Will
If you would like to make a gift to Loyola Academy in your will or living trust, you may want to suggest that your attorney include language such as:
“I give, devise and bequeath to Loyola Academy Thomas J. Cramer Principal Gifts Officer and Director of Planned Giving 1100 Laramie Avenue Wilmette, IL 60091-1089 847.920.2431 goramblers.org/planned-giving
(tax ID 36-2367981), located at 1100 Laramie Avenue, Wilmette, Illinois, the sum of $ or
,
percent of the rest, residue and remainder of
my estate for the benefit of Loyola’s general purposes.”
