For 35 years prior to his untimely passing in the fall of 2002, Bro. Ralph Clifford served as Treasurer of St. Francis Prep. His responsibilities included overseeing all aspects of the school’s financial affairs including the management of the physical plant. With an eye toward the future, Bro. Ralph practiced prudent fiscal management and preventative maintenance measures that helped put St. Francis Prep on the sound financial footing that it finds itself today. It only seemed appropriate then, that several years ago, Prep should honor Bro. Ralph’s memory by establishing a special "society” for alumni, parents, and friends who remember St. Francis Prep in their estate plans. Donors to this giving society are invited each year to the Principal’s Dinner and will be afforded permanent recognition as members of the Bro. Ralph Clifford Society. All gifts will be directed to the St. Francis Prep Endowment Fund unless otherwise designated. Membership in the Bro. Ralph Clifford, O.S.F. Planned Giving Society is open to those individuals utilizing one or more of the following vehicles to support the education of future Terriers:
BequestsBRO. RALPH CLIFFORD, O.S.F. MEMORIAL PLANNED GIVING SOCIETY MEMBERS
This is a gift made by a provision in one’s will naming St. Francis Prep as a beneficiary. This can help reduce estate taxes.
Trusts and Wills
All or part of what remains after loved ones have been provided for can be put in trust or directed for the use of St. Francis Prep. Assets can be put aside also for a limited period of time and then returned to the donor.
Charitable Gift Annuity
This gift allows the donor to receive benefits for his/her lifetime and to qualify for a charitable tax deduction. This form of support is attractive when one has highly appreciated assets. St. Francis Prep requires a minimum gift of $10,000 to establish this.
Charitable Remainder Trust
This form of support transfers assets to a trustee, who then manages the trust and pays an income back to the donor for life or for a specific time period. When the trust terminates, the remainder passes to St. Francis Prep.
A Unit trust has a fixed percentage rate of return on the initial principal value. Benefits include an income tax deduction, the avoidance of capital gains tax (when appreciated securities are used), as well as an estate tax reduction. St. Francis Prep requires a minimum gift of $25,000 to establish this.
Life Insurance and Retirement Plans
If you own a life insurance policy that is no longer needed, consider it as the perfect vehicle for a charitable gift! To receive a charitable deduction, name St. Francis Prep as both the owner and the beneficiary of the policy. If the policy has a cash value, you can take a charitable deduction approximately equal to the cash value at the time of the gift. In addition, if annual premiums are still to be made and you continue to pay them, those premiums will become tax-deductible each year.
Please consult your financial advisor or tax professional on how any of the above mentioned strategies best suit your personal financial situation. Once you have your plan in place, please contact St. Francis Prep’s Director of Development, Robert T. Angeletti, at (718) 423-8810, ext. 269, or via e-mail: email@example.com
Thomas P. Aylward ‘54
Wally Bishop '80
Brother Ralph Clifford, O.S.F. ‘48*
Danielle Connelly ‘05
Brother Leonard Conway, O.S.F. H’01
Robert J. Crimmins ‘56
Paul V. DeLuca ‘51
Paul D. Duran ‘62
The Estate of Hugh R. Fredin ‘44*
Phyllis Gambino-Skody ‘90
Robert G. Healy ‘42*
Michael A. Henning ‘57
The Estate of Michael J. Holmes*
The Estate of Anna T. Hughes*
Sister Mary Kenneth Lane, C.S.J.
Anthony P. Maresca ‘74
John McGinley H’82*
James E. McGlyn ‘49
Francis J. McKenna ‘38*
Alton J. O’Neil ‘45
John S. Pereira ‘62
The Estate of J.B. Robb*
William & Camille Ruggiero Charitable Remainder Trust*
The Estate of Margaret Sorensen, Charitable Trust*
Robert J. Stenger H’83*
Joseph P. Walker ‘57*
Daniel P. Weitekamp ‘40
Brother Alan Zodda, O.S.F. H’05*Rest in Peace