Advancing The Mission - Spring 2014

Advancing the

MISSION INCARNATE WORD ACADEMY FOUNDATION NEWSLETTER

Catching the Vision

SPRING 2014

but also to contribute financially to the advancement of the mission into the future.”

To further support the mission, Dianne chose to invest in a gift annuity. This investment allowed her to make an immediate gift to the Incarnate Word Academy Foundation and to provide herself fixed and guaranteed income for life.

The income Dianne is receiving is considered tax favorable as a significant portion of the income is tax-free and the immediate gift to the Foundation is fully tax deductible.

In addition, Dianne has remembered IWA in her estate plans and will be inducted into the Jeanne de Matel Heritage Circle next fall.

Dianne Raska with her son, Doug (left), her daughter and son-in-law, Kelli and Dan Hughes, and grandsons, Gabriel, Peyton and Henry Hughes.

“One of my greatest blessings has been the opportunity to be a part of this outstanding institution, which provides for the education of the whole child. I want to do my part in promoting quality Catholic education now and into the future”, Dianne said.

Motivated and inspired by her mother and her aunt, Dianne Raska entered the teaching profession in 1966. “At a very early age, I knew that I would become a teacher. Learning was my passion and I took every opportunity as a child to ‘play school’ at home”, Dianne said.

Over the years, Incarnate Word Academy has been able to provide scholarships, tuition assistance, and excellence in Catholic education through the generosity and foresight of donors who remembered IWA in their bequests and planned gifts.

After completing 30 years in public education, Dianne came to the Incarnate Word Academy campus in 1999. “I knew that God was calling me there”, Dianne said. For the next seven years, she taught fifth graders. In 2005, Dianne took leave to care for her husband. After his death in 2007, she returned to Incarnate Word Academy to serve as Elementary Counselor – a position she currently holds.

“It was while working at Incarnate Word Academy that I caught the vision of the value of a Catholic education. To work in an environment where the Teacher Jesus is the role model for all has been such a blessing in my life. To interact with Christian co-workers, students and parents on a daily basis has been such a tremendous experience”, Dianne said.

During her 13 years at Incarnate Word Academy, Dianne has loyally participated in the Annual Giving Campaign. In 2012, she felt that the Holy Spirit was moving her to do more. “I could see the advantages of a Catholic education and it was apparent to me that we as educators need not only to provide the best environment and tools for the students,

Dianne Raska conducts small group counseling with IWA Montessori students.

N o w I s T h e ti m e to t u r n b o n d s into C H A R I TA B L E G I F T I M COME

Very likely your investment portfolio includes bonds as well as equities. Like other bond investors, your objectives in purchasing them were to reduce volatility, preserve your capital, and have interest income higher than you could get from cash investments. Another benefit that many bondholders have realized during the prolonged period of low-interest rates has been appreciation of market value.

Some analysts predict that interest rates will begin to rise as the Federal Reserve begins to taper its purchase of long-dated government bonds that forced down long-term interest rates.

If that happens, the unrealized capital gain in your bonds could disappear. In fact, if interest rates were to rise by two or three percentage points, corporate bonds could dip in value by 25 percent. Also, the modest amount of interest you are receiving may not keep pace with inflation.

To protect yourself against these possible events, you may have considered reducing your exposure in long-term bonds and moving to bonds with shorter maturities or to cash equivalents.

However, you hesitate to incur the tax on the capital gain resulting from a sale of appreciated long-term bonds, particularly when your capital-gain tax rate may have increased as a result of legislation enacted last year. Another possible concern is the temporary reduction of the interest income on which you may be depending during retirement.

One strategy you might want to consider is contributing some of your long-term bonds for a charitable remainder annuity trust.

You can lock in for your lifetime fixed payments that are likely above the interest you are receiving, avoid immediate taxation of the capital gain, and receive a charitable deduction that will reduce your income tax. Whereas the payments you are currently receiving from your bonds are fully taxable as ordinary income (unless you hold municipal bonds), a portion of the payments

from the trust may be taxed at the lower capital-gain tax rate.

Example: Roger, 74, owns bonds currently valued at $120,000 for which he paid $100,000. He is receiving interest of $5,500 per year, all of which is taxable. He contributes the bonds for a charitable remainder annuity trust and receives fixed payments of $6,000 per year. His gross income increases by $500, but his after-tax income could increase still more because some of the trust income may be more favorably taxed than his current bond interest. As a result of his gift, Roger will be entitled to a charitable deduction of $60,612 that, given his 33 percent tax bracket, saves him $20,002 in income tax. Although he reduces his capital because the gift is irrevocable, Roger improves his cash flow considerably and makes a meaningful gift.

Anyone can make a planned gift!

Contact us today to discuss how you can maximize your income, your benefits, and most importantly, your legacy to the Incarnate Word Academy Foundation.

Watch your investment in quality Catholic education grow through various options of planned giving.

Contact: Sister Martha Ann Snapka Phone: (361) 883-0857, Ext. 106 or (361) 877-1232 Email: snapkam@iwacc.org

T HE I N C A R N AT E WORD AC A DEM Y S C HO L A RSH I P P RO G R A M The Incarnate Word Academy Scholarship Program began in 1978.

Since its inception, more than 750 students have been awarded scholarships. During the 2013-2014 school year, approximately 31% of the total enrollment on campus received scholarships or tuition awards. Scholarship distributions are made from an endowed fund’s earnings after the balance reaches $10,000. In order to meet the needs of students in years to come, a portion of the fund’s earnings are added to the fund balance each year.

Currently, the Incarnate Word Academy Foundation manages 86 named scholarships through the generosity of parents, alumni, friends and benefactors. Scholarships are a powerful way of shaping the lives of the student recipients and helping keep Incarnate Word Academy accessible to as many students as possible. Scholarship donors assist the school in offering students the opportunities in the formation of values and morals and in developing skills and leadership to make a difference in the world around them.

Scholarship Name Changes Kuntscher Sisters Scholarship The Sister Michelle Marie Kuntscher Scholarship has been renamed the Kuntscher Sisters Scholarship to include Sister Juliane Kuntscher. Both Sisters have served as educators, members of the School Board, and supporters of the mission of Incarnate Word Academy.

Brehony Sisters Scholarship The Sister Catherine Brehony Scholarship has been renamed the Brehony Sisters Scholarship to include her siblings, Sister Maria Elizabeth Brehony, Sister Colette Brehony, and Sister Rita Brehony.

The Brehony Sisters have served in Catholic education for many years in the areas of teaching, administration, and supervision.

Ryan Kring

Katie Duncan

Class of 2014 Mary Shead Scholarship

Class of 2015 Angelo L. Zanetti Scholarship

It is through generous support that I, and every

Without your generosity, we would not have the

scholarship recipient, can be sure of a quality

wonderful opportunity of attending a school that not

education, grounded in the trust that they will

only intellectually prepares us for life, but prepares us

ascertain not only knowledge, but skills and tools

for a spiritual journey with God.

that will distinguish us as no other title can, as Incarnate Word Angels.

DONOR APPRECIATION LUNCHEON

On April 24, 2014, more than 200 students, benefactors, honorees, and Incarnate Word and Blessed Sacrament Sisters attended the 11th Annual Donor Appreciation Luncheon for the Scholarship Recognition Society. Hosted by the Incarnate Word Academy Foundation, this special event provides an opportunity for student scholarship recipients to thank donors for their support and for making their Catholic education possible. The program included guest student speakers, a recognition ceremony, and a special presentation.

A recognition ceremony took place for honorees, Casper and Emily Wenzel, who were inducted into the Precious Stones Supporting the Mission Recognition Society at the Pearl level, for their cumulative contributions in excess of $10,000 to the IWA Scholarship program.

Henry and Teri LeMaire signed a certificate of completion for the Sandra Pope LeMaire Sykora ’66 Scholarship, recognizing the scholarship as a permanent fund.

In a special presentation, Charles D. Imbergamo, President and CEO of Incarnate Word Academy, announced that, from the proceeds of a successful Gala, the school would make a contribution to the Foundation bringing four existing scholarships to permanent status.

In addition, the Incarnate Word Sisters Scholarship was initiated. This scholarship is in honor of and in appreciation for the Congregation’s response to God’s call to serve and for 143 years of commitment to the teaching mission of the Church.

Scholarships recently made permanent: • Sister Michelle Marie Kuntscher ’60 Scholarship • Sister Anna Marie Espinosa ’66 Scholarship • Sister Camelia Herlihy ’54 Scholarship • School Board Directors Scholarship

Please visit the website of our scho ol at w w w.iwacc.org

2930 South Alameda Street Corpus Christi, Texas 78404 www.iwacc.org

INSIDE THIS ISSUE Turning Bonds Into Charitable Gift Income – Page 2 Incarnate Word Academy Scholarship Program – Page 3 Donor Appreciation Luncheon – Page 4