Planned Giving at St. Paul’s

Planned giving, or legacy giving as it is also called, is a particular type of charitable giving that enables a person to make plans to give a gift to a charity like St. Paul’s as part of an estate plan. The Endowment Fund of St. Paul’s was created to receive those gifts. While it usually requires the assistance of financial or legal professionals, planned giving is not reserved for the wealthy. It is available to anyone interested in making thoughtful and intentional choices for the ultimate disposition of their personal resources.

Why Make a Planned Gift?  There are numerous benefits associated with planned giving. Parishioners who care deeply about St. Paul’s find great satisfaction in helping to ensure the future strength of the church’s ministries. Many also choose to make a planned gift to commemorate a loved one or celebrate their own relationship with Christ through St. Paul’s. In addition, planned giving may offer tax savings to donors and their heirs, and potentially enable donors to make larger gifts than they thought possible.

Types of Planned Gifts

Planned gifts come in a variety of forms from simple bequests to complex trusts — all with different requirements and advantages depending on your circumstances. We recommend that you consult with your professional tax, financial, and legal advisors to help you develop a solution tailored to your specific needs and the needs of your family.

Planned gifts may include:

Bequest. A bequest is a gift made through a will or a trust; it is one of the most popular ways to give a planned gift. By adding a provision in your will or trust, you can gift St. Paul’s a specific asset, a specific amount, a percentage, or all or part of the residue of your estate.

Beneficiary Designations. Naming St. Paul’s as a primary or contingent beneficiary of a retirement, bank, or investment account is a no-cost, flexible, and potentially tax-smart way to make a planned gift. Beneficiary designation forms are available from the account administrator.

Various Charitable Trusts, including Life Income Gifts. A life income gift enables you to make a charitable gift to St. Paul’s, yet still keep — and live on — the income. Some examples of life income gifts include pooled income funds, charitable gift annuities, and charitable remainder trusts.

Life Insurance. Gifting a life insurance policy outright or naming St. Paul’s as a primary or contingent beneficiary on a policy is an attractive option for some donors because it may make it possible to give a larger gift—of the death benefit—than smaller gifts of cash.

Some gifts may also be given during life:

Appreciated Securities.  Donating appreciated stocks, bonds, or mutual funds that you have owned for at least one year may provide special tax benefits, such as claiming an income tax deduction for the full market value of the securities and avoiding payment of capital gains taxes on the appreciation.

IRA Qualified Charitable Distribution. If you are 70½ or older, you may be able to use your IRA to make a tax-smart charitable gift to St. Paul’s. A qualified charitable distribution (QCD) or charitable rollover from your IRA can potentially reduce your taxable income and satisfy all or part of your required minimum distribution.

St. Paul’s Episcopal Church, its employees or representatives, do not offer legal or financial advice. We strongly urge prospective donors to consult with their estate planning attorney, financial advisor, accountant, or other appropriate professional before making any material decisions based on information we provide through our website, printed materials, or other sources.