How to Direct Your Gift
Directing Your Gift
You direct how the funds from your planned gift will be used by Carmel through your will. You instruct your attorney to write as part of the bequest any conditions, limitations and use of your gift by Carmel Catholic. You or your attorney should contact Carmel Catholic High School to confirm Carmel Catholic can accommodate your intent. Generally, gifts are used in two ways:
Unrestricted: The funds will be used for the greatest need of the school that is decided by the Board of Directors as part of the Annual Fund which funds a portion of the yearly operating expense, scholarship, tuition assistance, campus facilities and grounds, academic, teacher and staff professional development or other programs.
Restricted: You direct the gift to a specific purpose: scholarship, tuition assistance, campus facilities and grounds, specific capital projects, academic, teacher and staff professional development.
Preserve your vision and commitment
Individual endowments can be created to support specific areas of scholarship, tuition assistance, campus facilities and grounds, designated capital projects, academic, teacher and staff professional development beginning with gifts of $25,000. An endowment can be named for the donor, family or a title that is significant for them or describes the intent of the endowment. All instructions pertaining to the endowment’s name, use and any conditions or limitations need to be declared in the will. Before completing the final document, please contact Carmel Catholic High School to confirm we can accommodate your intent for the endowment.
Carmel Catholic has an investment committee that oversees the endowment fund in conjunction with an independent investment firm. This sub committee is part of Carmel Catholic’s Finance Committee and reports to the Carmel Catholic High School Board of Directors. The investment committee implements a spending policy authorized by the Board of Directors designed to perpetuate the endowment. An endowment’s annual award is equal to 75% of the average earnings from the three previous years. This policy ensures that 25% of the investment earnings are added back to the corpus to allow the endowment to grow and perpetuate the donor’s intent."
For additional information, please contact Sr. Kathleen Sinclair, BVM, Director of Institutional Advancement, at 847-388-3342.
