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Planned Giving

If you think of St. Francis as an important place of spiritual comfort and worship, you can, by a planned gift, provide a portion of your personal
resources to assure St. Francis will continue to be such a place for parish members and the community in the years to come.

 
There are several ways to make a planned gift. One of the easiest is a gift by your will. Everyone should have a will that directs the distribution of their property, appointment of an administrator and, if needed, the naming of guardians for their children. Without a will, state law would govern these
important issues.

Having a retirement account (perhaps an IRA) offers another easy way to
benefit St. Francis. Providing a dollar amount or percentage of the account value via an account beneficiary designation form lets you have use of the account during your lifetime with a gift to St. Francis occurring at your death. A visit with the financial institution that manages the account will provide the necessary beneficiary designation form in which to name your gift.

Other planned giving opportunities are available and appropriate for some
individuals. A brief summary follows:

  • Gift of life insurance

  • Gift to a pooled income fund (from which you or another beneficiary receive income for life)

  •  A charitable gift annuity (providing a guaranteed income for life)

  • A charitable remainder trust (from which you, or a beneficiary, receive income for life)

  • A charitable lead trust (providing income to St. Francis for a stated term of years, returning the principal to the donor or other beneficiary at the end of the term)

  • Direct gift of special property such as real estate, jewelry, or closely held stock.

 

Income tax savings are possible. Direct gifts to St. Francis are deductible for income tax purposes, and gifts of appreciated property can avoid capital gains taxes. For some there could also be estate tax savings. The foregoing is offered for information and not as legal or financial advice. If you are considering a planned gift, it is advisable to meet with your lawyer or financial adviser to be sure of the precise tax consequences flowing from your gift (and any other effect on your estate plans).


Members of the Planned Giving Committee of St. Francis will be pleased to discuss a planned gift with you. Also, you may speak with the Rector or Treasurer.  If appropriate, they can call on the Episcopal Church Foundation for advice and management of a pooled income fund or similar deferred gift. A donor’s bank may also be a resource for the administration of a deferred gift.

The Vestry of St. Francis has adopted an Investment Policy and a Spending Policy. These policies insure that your gift will be prudently invested and
subject to responsible spending rules. A Gift Acceptance Policy is also in place to guide the Finance Committee in this process and it also calls for
Vestry approval before acceptance of special gifts such as real estate or closely held stock.

St. Francis would like to know who among parish members have made a planned gift to St. Francis (if they wish to share that information). Members who inform St. Francis of their planned gift become members of the Legacy Society of St. Francis by the Sea. The Society’s members remain anonymous but share a sense they have provided for St. Francis in a special way.

Please consider membership because Society members will indeed be assuring the future of St. Francis.

 

“To do good, and to distribute,
forget not, for with such sacrifices God is well pleased.”
— Heb. xiii.16

To learn more about our Planned Giving program click on the link to our brochure Assuring the Future.

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