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From Generation to Generation: A Legacy of Service

Pat and Tricia Heffernan

The Heffernan family pictured from left to right: Kate, Colleen, Pat, Tricia, Ryan, and Lisa.

As a young boy in the 1960s—when much of Orange County, California was still agricultural—Pat Heffernan remembers his grandparents as charitable and selfless people.

They helped found St. Joseph’s Hospital, the largest Catholic hospital in Orange County, and donated to Mater Dei High School and Santa Margarita High School. “My grandparents lived very humbly, with a strong Germanic work ethic, and were extremely generous in the Catholic community,” says Pat.

Likewise, Tricia Heffernan witnessed her parents’ devoted commitment to Catholic education. “The sacrifices my parents made to ensure my siblings received a Catholic education from kindergarten through high school was formative to my upbringing,” says Tricia. “In my eyes, they’re the best examples of living their faith, and that is something I hope to achieve and pass along to my own children.”

Tricia and Pat met in 1977 and were married two years later. The sense of generosity and service passed down from their parents and grandparents is evident in the life they have created together and their commitment to Jesuit High School that spans more than the last two decades.

Tricia is chair of Jesuit’s Board of Trustees and will begin her second term next year. In the past, she served on the Parent Advisory Board for four years and has co-chaired the Financial Aid Luncheon with Pat as well as the Auction raffle. She has also chaired the Development Committee and the Diversity Committee. Pat has served as a member of the Board of Trustees and the Building Committee. Both Pat and Tricia volunteered on the Senior Pilgrimage when their children, Kate ’05, Ryan ’07 and Colleen ’11, were students at Jesuit.

Tricia and Pat’s true passion lies in supporting financial aid at Jesuit. “We feel strongly that we should help Jesuit education remain affordable and available to any and all students who qualify,” says Tricia. “At the end of the day, we as a community receive far more from having a diverse, robust student population. Jesuit has markedly changed our lives and that of our children.”

Tricia and Pat are also members of the Fr. William Hayes, S.J. Legacy Club by including Jesuit in their estate planning. The Legacy Club is a perfect opportunity to apply the values they inherited from their parents and grandparents and give back to the community, ensuring the financial stability of Jesuit High School for future generations.

Jesuit High School is grateful to the Heffernans for their years of service and ongoing commitment to making Jesuit education accessible. For more information about the Legacy Club and other giving opportunities at Jesuit High School, contact Diane Salzman at 503-291-5497 or development@jesuitportland.org.

A charitable bequest is one or two sentences in your will or living trust that leave to Jesuit High School Foundation 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 Jesuit High School Foundation, a nonprofit corporation currently located at 9000 SW Beaverton Hillsdale Hwy, Portland, OR 97225, 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 Jesuit 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 Jesuit 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 Jesuit 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 Jesuit where you agree to make a gift to Jesuit 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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