Planned giving is a choice made by a person to leave a portion of their estate to certain institutions, through a bequest, participation in a life income plan benefiting the organization, creating a charitable lead trust, or naming the organization as the beneficiary of a life insurance policy or retirement plan. In the past, St. Thomas’ has been blessed with gifts that have enabled us to grow our endowment, support our wonderful ministries such as our music program and make improvements to our beautiful property.
What is Gift planning?
Gift planning encompasses a variety of ways that gifts can be made to St. Thomas’ from accumulated resources.
It usually involves financial or estate planning; however, it is not reserved for the wealthy. Gift planning is a means by which anyone concerned with the wise use of his or her personal resources makes a considered choice about their ultimate disposition.
In general planned gifts are made through:
- A Bequest in a Will
- A Life Income Gift (pooled income fund, charitable gift annuity, or a charitable remainder trust)
- Gifts of Special Assets (real estate, closely held stock, life insurance)
Gift planning establishes a way for a donor to provide for family members while remembering St. Thomas’ as well. It often enables the donor to reduce taxes and provide more for his or her heirs, while making a larger gift to St. Thomas’ than thought possible.
Planned gifts can be designated for St. Thomas’ general endowment or five specific areas of ministry.
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