Frequently Asked Questions
- How can I include Holy Cross in my will?
We have provided guidance and suggested language for a bequest in A Guide to Bequests and Beneficiary Designations section of our Web site.
- I have established a planned gift for Holy Cross through another service provider. Should I notify Holy Cross?
Holy Cross currently works with State Street Global Advisors (SSGA) to manage the College’s charitable life-income gift portfolio. By notifying the Office of Gift Planning that you have established a planned gift (for example, a charitable remainder unitrust) with your own advisor, you may earn gift credit at Holy Cross, participate in a Class Reunion Gift campaign, earn gift credit to the Become More comprehensive campaign, and receive an invitation to join the College’s 1843 Legacy Society. The College also benefits by learning of assets that may be available to it in the future and credits planned gifts made through another service provider in the same way it credits planned gifts administered by the Office of Gift Planning via SSGA.
- How does Holy Cross credit my planned gift?
We record as a charitable gift the full contribution to a life-income arrangement (charitable gift annuity, charitable remainder trust, or pooled life income fund). Written bequest intentions or tentative designations are credited as gift intentions. Permanent designations in an irrevocable trust may be credited as a cash gift. The entire expected income stream from a charitable lead trust is credited at the time of contribution but discounted somewhat. Please contact the Office of Gift Planning with further questions on gift crediting.
- For my class Reunion campaign, how is my planned gift credited?
For a Class Reunion Gift campaign, any planned gift that receives Holy Cross gift credit is included in the class’s total reunion gift effort (cash gifts, multi-year pledges, life-income gifts, and bequest intentions for those aged 70 and older). Written notice of a bequest intention will also qualify you for membership in the 1843 Legacy Society.
- How does my planned gift apply to other campaigns at Holy Cross?
Planned gifts, including bequest intentions, are included in support of the College’s comprehensive Become More campaign. Because the financial proceeds from many planned gifts are not available until sometime in the future, such gifts (with the possible exception of a charitable lead trust) may not be suitable to support current needs of the College, such as capital projects or new programs.
- Can I designate my planned gift to be used for a specific purpose?
You may designate any planned gift to a specific endowed fund, program, scholarship, or other purpose at Holy Cross. Gifts without restrictions on their use are very valuable to the College because they allow the College flexibility in utilizing the funds to support the College’s highest priorities. As with any gift, you should contact the relevant staff at Holy Cross to determine how your gift can be effectively applied and confirm in writing any intended restrictions on the use of your gift.
- What if I prefer to support many charities, not just Holy Cross?
We have designed many planned gifts that benefit other charities in addition to Holy Cross.
- What is Holy Cross's tax identification number?
Tax ID # 04-2103558