Sharon and Kirch ’61 DeMartini have strong ties to the Jesuits and education, which are the foundation of the couple’s gift to SCU.
Whether taking a Baltic Sea cruise or entering their wedding reception with a procession of 35 Jesuits in tow, Kirch '61 and Sharon DeMartini have enjoyed a life together bolstered by common values, interests, and goals.
Having the time and the good health to be able to travel is not something this couple takes for granted. "We know," they said, "how fortunate we are, and we are grateful every time we undertake a trip. We never considered ourselves adventurers in any sense, yet we've been to the Galapagos Islands, cruised on the Amazon, and thoroughly enjoyed the young waiter in Copenhagen who is an avid fan of the NBA (but not the Warriors—the New York Knicks!)."
Kirch and Sharon's ties to the Jesuits began long before their wedding—Kirch graduated from Brophy Prep in Phoenix, and Sharon's mother worked for the Jesuits in the library of Alma College when it was the Jesuit theologate in Santa Clara County. It was the Alma connection that led to seven Jesuits on the altar at their wedding, plus a ride to their reception in the Jesuit bus with those 35 seminarians (and "JUST MARRIED" sprayed on the side of the bus).
Because both had lifelong careers in education (Kirch a high school counselor, and Sharon a school psychologist), it seemed fitting that they created an endowment to provide scholarships to needy students who wish to attend Santa Clara. By donating a piece of real estate to SCU in the form of a charitable trust, the DeMartinis laid the foundation for a fund to help students from San Jose's East Side Union High School District (where Kirch worked for 32 years) with the opportunity for a Jesuit education. Referring to SCU and its Jesuit philosophy, Kirch simply says, "I believe in what they do; I believe in their mission."
Year after year, the endowment will help less-advantaged students gain access to the Jesuit education that the DeMartinis value. About this opportunity to create a legacy gift, Kirch says, "I wanted to give students who would otherwise not be able to afford it a chance to go to Santa Clara."
Make Your Impact for Students You can follow in Kirch and Sharon's footsteps and provide a Jesuit education to future Santa Clara students. Visit our website or contact the Gift Planning team at 408-554-2108 or email@example.com to learn more.
A charitable bequest is one or two sentences in your will or living trust that leave to Santa Clara University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.
an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan
"I give to Santa Clara University, a nonprofit corporation currently located at 500 El Camino Real, Santa Clara, CA 95053-1400, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."
able to be changed or cancelled
A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.
cannot be changed or cancelled
tax on gifts generally paid by the person making the gift rather than the recipient
the original value of an asset, such as stock, before its appreciation or depreciation
the growth in value of an asset like stock or real estate since the original purchase
the price a willing buyer and willing seller can agree on
The person receiving the gift annuity payments.
the part of an estate left after debts, taxes and specific bequests have been paid
a written and properly witnessed legal change to a will
the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will
A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to SCU or other charities. You cannot direct the gifts.
An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.
Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.
Securities, real estate, or any other property having a fair market value greater than its original purchase price.
Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property, or undeveloped land.
A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.
You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.
You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to SCU as a lump sum.
You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to SCU as a lump sum.
A beneficiary designation clearly identifies how specific assets will be distributed after your death.
A charitable gift annuity involves a simple contract between you and SCU where you agree to make a gift to SCU and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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