Giving & Memorials
Ways to Give
There are many way to contribute a tax-deductable gift to Costa. Our mission to support and educate youth relies on the generosity of donors like you - thank you for making this possible!
Bequests through Wills, Life Insurance, Life Income Agreements and Retirements Plans are the most common forms of Planned Giving. Approximately 80% of all Planned Giving are bequests, while Life Insurance policies are on the upswing in Planned Giving. Insurance gifts usually produce a sizable gift for a relatively small investment by donors. Donors should consult with their tax advisers and/or attorney to obtain the benefits of each gift. ALL GIFTS ARE TAX DEDUCTIBLE. Anyone interested in making a planned gift to Costa Catholic should contact the Development Office at (309) 344-3155.
Stocks, Bonds, Mutual Funds
By contributing a stock owned for more than a year, a person can realize a tax deduction in an amount up to 30% of adjusted gross income. It also provides an opportunity to bypass the capital gains tax. Anyone wishing more information on making stock, bond or mutual funds contributions to Costa Catholic, should contact the Development Office at (309) 344-3155.
ALL GIFTS ARE TAX DEDUCTIBLE. Endowment funds are to an organization what retirement plans are to an individual - they represent money for use in the future. Endowment funds provide the dollars to underwrite special programs, maintain the campus and its buildings, and provide scholarship funds for students with financial needs. Strong endowment programs provide financial stability and enable the School to plan for the future. The endowment and designated funds are deemed "permanent," ie. the principle is held intact and only the income generated by the endowment's principal is spent each year.
Costa Catholic has the following endowment and designated funds:
Costa Catholic Academy Endowment Fund: Established in 1997, this fund was created as a vehicle to be able to accept gifts of property, stocks, and bequests. The principal is never disturbed. 70% of interest income is distributed to Costa with the remaining 30% being added to principal. The income Costa earns from this fund is used for general operating costs, building maintenance and to maintain our library.
Fr. Costa Endowment - This fund was created to provide funds to financially aid students who wish to attend Costa Catholic, but might not be able to due to family financial constraints.
Building and Grounds Designated Fund - This fund was created to provide the continuing care and improvement of the buildings and grounds of the Costa Catholic campus. These funds are to be used for needs beyond those that can be covered through the yearly operations budget.
St. Crescent Scholarship - Each year a Scholarship committee reviews applications received from families who wish to provide their children with the benefits of a Costa Catholic education, but may be unable to do so due to family financial constraints.
Technology Designated Fund - Established in 2006, the fund was created to ensure that technology on the Costa Catholic campus can keep pace with the rapid changes in technology. This enables the School to continue to provide its students with the most innovative learning tools possible across the campus.
Operations Designated Fund - Established to provide assistance to the operating budget, especially in the area of salaries and benefits.
Music Fund – This fund keep music alive from Kindergarten on up. Funds available are used for sheet music, musical instruments, music curriculum, performance fees, etc. Music funds also include the band program. (Naming rights available.)
Fine Art Fund – This fund allows various forms of art, drama, dance, costumes and more available to students preschool through eighth grade. (Naming rights available.)
Monetary memorial gifts from friends and family make possible the many necessities of the school. It is hoped that our friends will remember in their wills in order that a sufficient environment may be maintained. Memorials may be sent to: Development Director, Costa Catholic Academy, 2726 Costa Drive, Galesburg, IL 61401
If the family of a loved one would like to designate how the memorial is spent they may do so with the proper paperwork completed. In the past family and friends have offered their gift for tuition assistance, music, library and other areas that will help the school. In the main hallway of the Costa building, a Memorial Wall with two sizes of attached plaques line our hall. For memorials gifts with a minimum of $500.00, the loved one’s name is added to our Memorial Wall and for gifts of $1,000.00 or more, a larger plaque is added. The family should decide how they wish the name to read on the plaque.