Planned Giving

Tax-wise giving to St. Mark Parish, and School

Planned Giving - Couple Tax-wise giving is referred to by many names. While some people refer to it as charitable estate planning, the most common term used for tax-wise giving is “Planned Giving.” Although all gifts are planned in one way or another, ”planned giving” generally refers to making a gift now while retaining an interest in the donated property, or arranging for a gift that the charity will receive in the future or at the donor’s death.

Ideally, Christian stewardship impacts all phases of our life including our plans for the use of our worldly goods and resources after our death. Planned gifts are typically larger and more sophisticated than normal Sunday contributions and capital campaign and special fundraising event gifts. The subject of a planned gift can take the form of real property, cash or other personal property.

What is Planned Giving? Planned giving combines your personal and financial goals to help meet your
charitable giving objectives. There are many options available for charitable giving in circumstances that otherwise may not allow you to provide a charitable contribution to the Church. Charitable giving takes many forms, and you are encouraged to consider an option that best suits your circumstances.

As Christian stewards, we have a shared responsibility to celebrate the sacraments, proclaim the
word of God and exercise the ministry of charity to help our Church, its parishes, schools and
agencies to become a true community of faith with vibrant resources. To do so means to provide financial support for today—and, at the same time, build a firm financial founda- tion for tomorrow.

Planned giving provides a variety of opportunities to support the ministries of the Church and to
help secure the future of our faith. Through your gift, the Church will continue to be strong and healthy as it
meets the spiritual needs of future generations.

“The Church’s deepest nature is expressed in her three-fold responsibility of proclaiming the word of God, celebrating the sacraments and exercising the ministry of charity.”

—Pope Benedict XVI

Preserving Our Faith--What is Planned Giving?

Planned giving combines your personal and financial goals to help meet your charitable giving objectives. There are many options available for charitable giving in circumstances that otherwise may not allow you to provide a charitable contribution to the Church. Charitable giving takes many forms, and you are encouraged to consider an option that best suits your circumstances.

Charitable Gift Annuity

A charitable gift annuity not only allows you to make a donation, but provides you with the security of lifetime payments. This tax deductible contribution can be set up to provide you with the payments, or you can have the lifetime payments sent to the annuitant of your choice.

Bequest

The simplest type and most often used planned gift, a bequest, is a gift to charity through your
will or trust. The contribution can be in the form of a specific asset (land, home, collection
or stock), a specific amount (cash), a percentage of assets (e.g., 50 percent of your assets to the
Church), or what remains after all obligations and wishes are met.

Personal Need: A donor needs assets during life to cover living or medical expenses.

Solution: A donor can keep ownership of assets during life and still benefit St. Mark by donating
at death.

Benefits:
• Gift to the Church
• Preserves lifetime income
• Estate tax deduction

Real Estate

A gift of real estate can be made during your lifetime or deferred until after your passing. Those with rental properties or vacation homes might find this a viable option for donating to the church and gaining a tax deduction.

Retirement Assets

You can donate a portion of your retirement savings/earnings if you so desire. Please discuss your options with your financial planner in regards to making a planned gift from your retirement account.

Life Insurance

St. Mark can be named the beneficiary of a life insurance policy you hold. This is an especially appealing option to those potential donors who may own a policy that is no longer needed. In most cases, this provides you with an immediate tax deduction for the accumulated cash value of the policy and this also offers future deductions for any subsequent premiums paid.