Your will is a meaningful way to make a
charitable gift of lasting value to our parishes. Through a bequest provision,
you can designate a specific amount of money, a percentage of your estate, or
the remainder of your estate after other bequests are satisfied. Adding a
codicil to an existing will is a simple process that begins by making your
intentions known to your attorney.
Charitable Gift Annuities
A charitable gift annuity is a life
income agreement between a donor and St. John or St. Patrick. In exchange for
your gift, you receive fixed payments for your lifetime, and or the lifetime of
another person. You are entitled to a partial tax deduction in the year of the
gift, and a portion of each payment is tax free, for a period of years as well.
The size of the payments is based on the amount of the gift and the annuitant’s
age.
Gift
annuity plans start at $1,000 with income payments beginning at age 55 or
older.
If any of these ideas interest you, please
feel free to contact us for further information: St. John/St. Patrick
114
Sodus Street, Clyde, New York 14433 or call 1-315-923-3941.
For
specific advice about taxes, wills, or legal arrangements, it is important that
you consult with professional advisor. Thank you for your consideration
of
support to our parishes.
St. John
Church
And
St. Patrick Church
Outright cash gifts are the most common
form of giving and are as easy as
writing a check to St. John or St. Patrick. Your gift is tax deductible and
becomes immediately available to support the important work of our parishes.
Following
are some other ways of giving, which you may wish to consider.
Matching Gifts
More than 1,000 companies match the employees gift to charitable organizations. In this way, it’s possible to double or sometimes triple the value of your gift.
Please
check with your personnel office, to see if your employer participates. To initiate
a matching gift complete your employer’s matching gift form and send it along
to us when making your contribution.
Gifts in memory of deceased friends and
loved ones, or gifts which honor living individuals, are often used to reflect
the interests or talents of the person honored. Any gift to our parishes, may
be designated in memory of, or in honor of a loved one.
Gifts Of Personal Property
You can make a gift of personal property,
such as art, equipment, car or collections. A tax deduction is allowed for the
full market value if the object is long-term gain property and its use is
related to our tax-exempt mission.
Life insurance may be an especially
attractive gift vehicle if you own a policy that is no longer needed for its
original purpose. In addition, those who qualify for low-cost premiums may find
it more affordable and convenient to plan a significant gift to the parishes
using life insurance. By naming St. John or St. Patrick, as the owner and
beneficiary of a life insurance policy you can take an immediate tax deduction
for the accumulated cash value of the policy, (if any) and a future deduction
for any subsequent premiums which you pay.
If you own long-term securities that have
appreciated in value, you may prefer to contribute securities, rather than
cash. In this way, you can avoid paying
capital gains tax that would be due if you sold the securities. You can also
take a tax deduction for the current fair market value of the securities given.
Virtually any real property, a home,
office building, or land, can become a gift to St. John or St. Patrick. You can
take a tax deduction of the full fair market value of the real estate donated
and also avoid any penalty capital gains tax. It’s also possible to retain life
interest and receive a partial tax deduction while you continue to use this
property.