2022 Legacy Brochure - Highland Ave

WHAT WILL YOUR LEGACY BE?

A Gift Through Your Estate Will Help Keep Malden Catholic Vibrant for Future Generations

MALDEN CATHOLIC THE CODIVISIONAL HIGH SCHOOL

Malden Catholic has been an Xaverian sponsored school since 1932. For over 90 years, Malden Catholic has shaped emerging leaders in our community, claiming a Nobel Laureate, a Senator, two ambassadors and countless community and business heads among its alumni. Graduates attend some of the nation’s most renowned universities including Harvard, Princeton, Dartmouth, University of Chicago, Georgetown, Cornell, Brown, Tufts, Carnegie Mellon, Notre Dame, Northeastern, Boston College and College of the Holy Cross.

Over the past four years, Malden Catholic has experienced unprecedented growth. The school reimagined its future by joining the fundamental strength and core values of Boys Catholic (1932) with its sister school, Girls Catholic (1908) to create a codivisional high school which has become one of the best and fastest growing high schools in the state of Massachusetts – with nearly 780 students. The school has also excelled with outstanding student academic, athletic and cocurricular performance from a talented group of diverse young men and women. This acceleration and resurgence of energy has created a transformational success story that will continue and flourish for years to come.

This brochure contains general estate gift information for educational purposes. It does not provide legal or tax advice. Please consult an attorney or professional advisor for advice or assistance on specific gifts and decisions.

For some gifts, you and your attorney may need our address and Tax ID Number:

@ 2022 Malden Catholic

All Rights Reserved 99 Crystal Street Malden, Massachusetts 02148 Tax ID # 04 239 3983

CHARACTER, LEADERSHIP AND SUCCESS

There are moments in our lives when we pause to reflect on what we have achieved and can achieve. With your legacy gift, you can make a Malden Catholic education possible for future generations of students.

Malden Catholic was founded in 1932 by the Xaverian Brothers. For over 90 years, MC has had a tremendous legacy of creating emerging leaders who act to improve the world. Joining together with the strong tradition of Girls Catholic from the early 1900s, the codivisional model was established in 2018 to provide a path for young

men and women to meet and exceed the challenges of the 21st century. Perhaps you or a family member or close friend have been part of this journey – and we are grateful for your role in supporting Malden Catholic.

Malden Catholic is committed to providing a world-class education for our students, allowing them to be resilient in a changing world. We will continue producing tomorrow’s leaders through our dedication to the Xaverian Brothers’ mission.

Malden Catholic Circa 1950

“I urge you to look at your life and assess what a difference your Malden Catholic education has made to you. I encourage you to consider your relationship with Malden Catholic as you make your financial, retirement, and estate plans. I hope you will join me in making a bequest to keep Malden Catholic strong and vibrant for many years to come.”

David F. O’Brien ’51

Saint Francis Xavier Society member

Essential

Malden Catholic Campaign supporter

Established a permanent scholarship fund in memory of Lawrence P. O’Brien ’56 (USA Ret.)

THE STORY BEHIND ONE LEGACY GIFT

By making a legacy gift, David F. O’Brien ’51 is helping to support the students of Malden Catholic.

“Over the years, I have witnessed many tremendously positive changes at Malden Catholic. These accomplishments signal a bright and vibrant future for the institution, with young men and women receiving an outstanding college prep education, competitive athletic programs, a robust advancement program and expanded cocurricular opportunities. Our love and respect for the Xaverian Brothers have endured over our lives, so my late brother and I have chosen to remember Malden Catholic with a major gift through our estate plan. We intend to provide future students and families with the same educational opportunities and experiences we had when we attended more than sixty years ago.”

The Xaverian Brothers at Malden Catholic made an indelible influence on my life and that of my brother!

YOUR TRIBUTE TO SOMEONE SPECIAL

We would be honored to receive a legacy gift in memory of or in tribute to someone you love.

Giving in Honor of or in Memory of Someone You Love

Consider naming your estate gift in memory of or in honor of a Malden Catholic alumnus, a Girls Catholic alumna, a family member or a dedicated Xaverian Brother/School Sister of Notre Dame/faculty member. Your gift reflects your appreciation of the value of a Malden Catholic education. It will become an enduring tribute to the individual you seek to honor.

Thousands of students have benefited from the generous legacy gifts provided to MC!

A SIMPLE GIFT CAN CHANGE THE LIFE OF OUR STUDENTS

A gift in your will is one of the simplest ways to support Malden Catholic. You can name a specific dollar amount or a percentage of what is left after you leave particular gifts for family and friends.

A bequest or gift in your will has many advantages. Perhaps the most important one is that it allows you to retain your assets until the end of your life – so they are there for you if unexpected family needs, health problems and other unpredictable life events arise. Many donors prefer this since they can easily change their bequests. And, for some donors whose estates may be subject to estate taxes, a bequest by will is an effective way to reduce them.

It is important to note that other than philanthropic causes, estate gifts can be subject to 40 – 50% state and federal taxes. A gift to Malden Catholic can significantly reduce the potential tax burden on your estate.

BENEFITS

Your assets remain under your control during your lifetime.

You can modify your gift if your circumstances change.

Just a sentence in your will or trust completes your gift.

You can arrange to provide for loved ones and for Malden Catholic.

Regardless of the size, your gift will help the lives of students at MC.

MR. DICK SUMBERG ’64

Saint Francis Xavier Society member

Essential Malden Catholic Campaign supporter

Dick Sumberg ’64 experienced a true awakening at Malden Catholic! What will your legacy be?

“I experienced a real personal and academic awakening at Malden Catholic. The Brothers and lay teachers inspired all students to develop and use their talents to the fullest. They also inspired us to became lifelong learners who use our skills and learning to enrich the lives of others! You can do that by giving a legacy gift back to the school.

As I planned my estate, I recalled what I was taught at a young age. “What we keep we lose; only what we give remains our own.” Malden Catholic is foundational to my personal and professional success and core values. I hope that my legacy gift will ignite a flame for others like myself to support this fine school today and in the future.”

Former Malden Catholic Board member

MRS. ROSEMARY (BOLAND) PHALEN R.N. GC ’69

Malden Catholic Board member

Saint Francis Xavier Society member

Established the Boland Family Scholarship Fund

“I take great pride in being a recipient of a Catholic education provided by the School Sisters of Notre Dame at Girls Catholic High School. I believe that Malden Catholic is one of the top private, Catholic schools in New England! Malden Catholic is very dear to me and to my family. I want MC to remain strong and vibrant and thrive for students and families today and in the future, and here, my gift will be put to good use.”

As a Girls Catholic alumna, Rosemary (Boland) Phalen GC ’69 is delighted to be able to support Malden Catholic which has grown to be the largest all-girls 9th through 12th grade program in the state of Massachusetts.”

WHAT IF I HAVE ALREADY WRITTEN MY WILL OR TRUST?

You can amend a will or trust to make a gift without rewriting the entire document. Your attorney can prepare a simple document, called a codicil, which adds a new gift to Malden Catholic while reaffirming the other terms of your will. An attorney can also prepare an amendment to a revocable trust to include Malden Catholic as a beneficiary.

HOW TO SAY IT IF YOU HAVE DECIDED TO LEAVE A GIFT IN YOUR WILL

Here is a sample language for your will for a specific dollar amount or percentage of your residual assets:

I give and bequeath to Malden Catholic, located in Malden, Massachusetts, the sum of $ or

I give or and bequeath to Malden Catholic in Malden, Massachusetts (all or a percentage) of the rest, residual or remainder of my estate.

Contingent Gift Language:

If (insert name) is not living at the time of my death, I bequeath to Malden Catholic in Malden, Massachusetts, the sum of or percent of the rest, residual or remainder of my estate.

YOUR IRA CAN HELP OTHERS BUILD THE FOUNDATION OF A LIFETIME Donating

Through Your Retirement Account

If you leave your IRA, 401(k) or other qualified plan to family members other than your surviving spouse, they will most likely need to pay income taxes on your gift. Since Malden Catholic is a nonprofit organization, we pay no income or estate taxes. This means that 100% of your designated gift will go toward our mission. Leaving your retirement assets to Malden Catholic may be one of the best ways to help ensure that MC is thriving for the next 90 years!

Most people are surprised to learn that the beneficiary form – not your will or trust –directs where your assets will go after your lifetime. It is important to take steps to update your beneficiary forms regularly to reflect any life changes and current wishes.

Estate planning does not have to be complicated. In fact, some people may overlook one of the simplest “tax-wise” ways to make a gift to us – designating Malden Catholic as the beneficiary of your pension plan, IRA, 401(k) or self-employed plan.

HOW TO ADD MALDEN CATHOLIC AS A BENEFICIARY

1. Contact your financial institution to request or download a beneficiary form.

2. Designate Malden Catholic as partial, sole, or contingent beneficiary just as you would name a person. If Malden Catholic is a partial beneficiary, the balance will be directed to other named beneficiaries.

3. Provide the MC Tax ID # 04 239 3983 and the address, 99 Crystal Street Malden, MA 02148.

SAMPLE FORM

If my primary beneficiaries die before me, I designate contingent beneficiary:

Please notify our Advancement Office if you have made a provision for MC in your estate plans. Call 781-475-5333

In recent years Malden Catholic students matriculated at some of the top colleges and universities in the country including Harvard, Princeton, Dartmouth, University of Chicago, Georgetown, Cornell, Brown, Tufts, Carnegie Mellon, Notre Dame, Northeastern University, Holy Cross and Boston College, just to name a few.

Essential Malden Catholic Campaign supporter

Established permanent scholarship fund in memory of Donald J Smoot ’74

“MC truly prepares students for a better life. So, when I give back to MC, it allows me to give the Brothers a return on their investment, and it allows the school to invest in others to take my place.”

Mr. Steven F. Smoot ’77

Former Malden Catholic Board member

Saint Francis Xavier Society member

GIVING MEANS SO MUCH!

Steven F. Smoot ’77 believes that the Brothers anointed all of us with the mission of carrying on the tradition and values offered by a Xaverian education!

There are so many Xaverian Brothers that I am thankful for.

“I am grateful for what they have given to me and to my late brother, Don ’74. They saw something special in each of us. MC truly prepares students for a better life. So, when I give back to MC, it allows me to give the Brothers a return on their investment, and it allows the school to invest in others to take my place.

I strongly believe that the Xaverian Brothers anointed each of us with the mission of carrying the traditions and values offered by a Xaverian education. I am proud of my role and excited about the opportunity we all have to provide students an amazing education that embodies the Xaverian charisms. One of the first things I learned when I joined the Board is that tuition does not cover the actual cost for a student to attend MC. Malden Catholic relies on the generous support of our community to fund the difference.”

OTHER WAYS TO GIVE

Nearly 80% of all Malden Catholic students receive financial support to attend Malden Catholic, and over 98% of students enroll in 4-year colleges, which is significantly higher than neighboring schools.

DONATE LIFE INSURANCE, CERTIFICATE OF DEPOSITS, BROKERAGE OR OTHER FINANCIAL ACCOUNTS

In addition to retirement plans, you can leave a gift from your bank account, brokerage account or life insurance policy to Malden Catholic. The process is simple: you are only required to submit an updated Designation of Beneficiary Form.

A GIFT THROUGH YOUR DONOR-ADVISED FUND

Some of our donors have established a donor-advised fund (Fidelity Charitable®, Vanguard Charitable ®, Schwab Charitable® or other) and have a strong desire to support Malden Catholic through an annual gift and a legacy gift. You can direct that your donor-advised charitable fund be distributed in full to Malden Catholic at your death. Or you can name specific charities and choose a dollar amount or percentage amount to be distributed over a certain time, perhaps five or 10 year, or until the account balance becomes zero.

Your home has probably given you great memories and gifting it to Malden Catholic will do something positive in return. A gift of your home provides a wonderful legacy donation.

A TRADITION OF EXCELLENCE

In 2004, Malden Catholic inaugurated the Brother Gilbert Society to recognize those who have provided for future generations of Malden Catholic students through their estate planning by making gifts through a bequest, trust, annuity, insurance plan, life income arrangements and other planned gifts. A provision for Malden Catholic through your will allows you to contribute without diminishing your assets in your lifetime. When you join the Brother Gilbert Society, you demonstrate your commitment to the current and future students who attend MC. Your planned gift is a reminder of the philanthropy that sustains Malden Catholic. By giving back through a bequest or a planned gift, Brother Gilbert Society members demonstrate a lasting dedication and commitment to the Xaverian Brothers and the MC mission that helps to build a strong and viable infrastructure for future generations.

BROTHER GILBERT, C.F.X., LEGACY SOCIETY MEMBERS ARE HONORED WITH:

Periodic invitations to special Masses

Prayer Intentions in Malden Catholic’s Schoolwide Prayer

Invited to attend the school’s annual Saint Francis Xavier Society Reception

Recognition in Malden Catholic’s Annual Report, Website and Crystal Hi-Lites

Recognition on Malden Catholic’s Permanent Brother Gilbert Society Donor Plaque

FEW GIFTS HAVE SO MANY RETURNS

Please share your plans with us today or in the future. All inquiries are completely confidential, and you have no obligation.

You can name loved ones and Malden Catholic in your plans. Your gift can be in memory of or in honor of someone you love.

Legacy gifts can cost you nothing now. You can change your will or beneficiaries at any time. Notifying us of your gift in no way obligates you.

There is no minimum gift required. Every gift makes a difference. You can remain anonymous, should you choose to do so.

You will join other donors in creating a legacy of graduates from one of the top private Catholic schools in New England.

WILL MC BE A PART OF YOUR LEGACY?

MALDEN CATHOLIC’S MISSION

Malden Catholic is a private Catholic school sponsored by the Xaverian Brothers. Its mission is to create a community of faith that promotes the dignity of all through the Gospel values and an environment that fosters the love of God and others. Dedicated to the spiritual, intellectual, creative, social and physical development of its students, Malden Catholic offers a college preparatory curriculum, sensitive to individual needs in a Catholic, familial environment.