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GIVING OPPORTUNITIES
You can think of “giving opportunities” as opportunities to give of your time talent and treasure. Or you can interpret “giving opportunities” to mean giving opportunities, through your gift to Saint Luke’s, for other people to obtain life’s necessities – clothing, food, medical care, education and training, and spiritual enrichment. At whatever level you give and in whatever form, one thing is certain: in giving, you will receive. It’s quite simple, really, giving light and hope to those in darkness and despair will gladden your heart beyond understanding.
TIME AND TALENT:
At Saint Luke’s, there are many opportunities to give of your time and talent to do the work Jesus Christ asks of us. Many of these ministries are described throughout this web site under worship, pastoral care, outreach, children’s ministries, and youth. We encourage parishioners to participate in any way their time and talents dictate. To help you get started, we offer the following checklist that approaches participation from the standpoint of what interests you.
Are you hiding your light under a bushel basket?
Here’s your chance to let it shine.
Surely you know in your heart that God has blessed you with certain gifts and yearns for you to use them. So let your light shine forth in service to God’s church and God’s people. Check out our survey and and check off anything that piques your interest and fits your talents. Then e-mail the card to Saint Luke’s and we will contact you. Experience the joy of making a difference in the lives of others by giving of yourself. *(Click this text to be taken to the survey)
For your convenience, the survey has been included below in a non-interactive state.
: With all due modesty, people rave about my pies and casseroles.
: I’d love to read the scripture lesson in church from time to time.
: Tell me more about how to become a chalice bearer.
: I’d like to join the ushers and be part of the team at Sunday services.
: I’d like to get involved in Person-to-Person.
: I would enjoy driving those who can’t drive themselves.
: I’m very hands on and would enjoy getting involved in outreach projects.
: I care about kids and have teaching talents.
: Need help with youth group? Count me in.
: Volunteer office work is second nature to me.
: Singing has always been a joy for me.
: I love to plant flowers and tend gardens.
: I’m good with numbers.
: I like to plan events, invite speakers, etc.
: I’m a good writer and proofreader.
: Arranging flowers makes me happy.
: I’m good at making people feel welcome.
: I would like to serve on the Altar Guild.
: I believe that stewardship is everyone’s job all the time. How can I be of help?
: I’d be a handy person to have around the campus and grounds.
: My interest is___________________________________
TREASURE
In addition to your time and talents, there are three principal ways to give financially in gratitude for the gifts the church has given to you and your family and in support of Saint Luke’s vision for the future.
- There is ordinary giving. That is giving through plate contributions and pledging and making a gift to the annual stewardship appeal.
- There is extraordinary giving. This consists of contributions to a capital campaign for needs not covered by annual giving – extraordinary unanticipated repair to the church, possibly a new organ, or a contribution to build up the church’s unrestricted endowment or to establish an endowment for a specific purpose such as outreach or music or pastoral care.
- Finally, there is ultimate giving. This type of giving ensures the future of the church after your death. It may be as simple as leaving a bequest to Saint Luke’s through your will. This needs little explanation except to say that the sooner you make a will the better, whether or not you include a bequest. A codicil can always be added later expressing your charitable intentions. The other broad category of ultimate giving is a planned gift in the form of a charitable trust or annuity.
Planned giving sounds complicated, and for most of us it is, but that doesn’t mean you have to have a working knowledge of how to make it happen. Your attorney or estate planner can help you, or Saint Luke’s can put you in touch with qualified professionals. Following is a brief description of the different types of planned giving opportunities, which fall into two categories: planned gifts that provide you with income during your lifetime, and a planned gift that provides income for a charity for a specified time period, then returns the gift’s principal to you or your heirs.
AN INCOME STREAM FOR YOU FOR LIFE
Pooled Income Funds:
These are akin to a mutual fund managed by a charity. A donor purchases “units” of the fund and receives a tax deduction for the “present value of the remainder interest,” which is the amount expected to be left in the fund for the charity’s benefit at the end of the income recipient’s actuarial life expectancy. The fund pays income to the donor for the rest of his or her life or the income beneficiary’s life if it is someone other than the donor. The amount of income will vary depending on the fund’s investment performance.
Charitable Gift Annuities:
Here, the donor contracts with those investing the assets for an annuity – a guarantee to pay a fixed amount to the donor or other beneficiary for the rest of his or her life. The amount of the gift, the beneficiary’s age, and life expectancy actuarial tables are used to determine the amount of the annuity.
Charitable Remainder Trusts:
Here, the donor makes a gift of a significant amount of assets, several hundred thousand dollars or more, to a trust. The donor receives the “present value of the remainder interest” tax deduction in the year the gift is made. Income is taxed advantageously, through a tiered process. At the death of the last income beneficiary, the trustee releases the remaining funds to the charity named in the trust. There are two forms of Charitable Remainder Trusts, the unitrust and the annuity trust. In the former, income is paid out as earned. In the latter, a fixed income is arrived at in the same manner as in the Charitable Gift Annuity above.
AN INCOME STREAM FOR YOUR CHARITY
Charitable Lead Trusts:
This planned giving opportunity is the Charitable Remainder Trust in reverse. The trust is constructed for a specified term of years and pays income or an annuity from the assets to the church. At the end of the term, the trustee returns the assets (which may have appreciated significantly) to the donor or his or her heirs.
EMPLOYING YOUR ASSETS FOR TAX ADVANTAGE
Gift of Real Estate with Life Estate Reserved:
This giving opportunity allows a donor to leave a home or farm to the church in his or her will. A Life Estate Gift of property can be made now, a substantial income tax deduction taken, and the donor can continue to live on his or her property for as long as desired with responsibility for taxes, maintenance and upkeep. At the time of the donor’s death, because the church owns the property, the property neither becomes an estate tax liability, nor a possibly significant capital gains tax liability if the property is sold by the donor’s estate.
Gifting your Retirement Nest Egg:
If income from other assets are adequate for your needs in retirement, and if you have funds in qualified retirement plans such as IRAs and 401(k)s, a gift of this type of asset can both benefit the church and reduce your income tax liability.
As an alternative to gifting your retirement plan, making the church its beneficiary instead of your heirs can result in a more efficient ultimate disposition. Income and estate taxes on this type of asset can be in the 70% range. You may want to ask your financial advisor to explain the tax ramifications in more detail.
Gifting your Life Insurance:
>If you no longer need the protection afforded by life insurance, consider either transferring ownership of the policy to the church or naming the church as the beneficiary. The former alternative could result in an income tax deduction for you, the latter in a charitable deduction for your estate.
HOW TO PROCEED:
For information about the planned giving services offered by the Episcopal Church Foundation, we suggest that you take a look at their web site: www.episcopalfoundation.org.
If you would like to begin discussions about a specific type of planned gift with the Episcopal Church Foundation – a trust, annuity, or contribution to the Foundation’s pooled income fund – you may contact Natalie Guthrie, Giving Services Operations Manager, at 212-716-6241. Or you may call Charlie Tyson at Saint Luke’s and have him arrange for Natalie to call you. Natalie will work with you and/or your financial advisors to decide which planned giving instrument might best fit your needs. Once that is agreed upon, she will have one of the Foundation’s attorneys write a draft of a legal document that formalizes the planned gift. There is no charge for this service, which saves significant start-from-scratch legal fees. The resulting draft may then be delivered to your attorney who may make any necessary modifications.
If you would like more information about the Episcopal Church Foundation’s pooled income fund and its investment performance, or would like to buy shares in it, again, Natalie Guthrie is the person to contact.
If you decide to make a bequest to Saint Luke’s in your will, your attorney can prepare a codicil for you. If you have no will, we strongly urge you to have an attorney draft one for you. Saint Luke’s would be pleased to hear from you that you have included us in your will.
Stock Transfer Procedure
Giving stock to Saint Luke’s to pay a stewardship pledge or for any other purpose couldn’t be easier. Just click on the the links below for two sample letters of instruction, which you may download and print out. The first is addressed to your broker or financial advisor and contains the proper language and information to request a stock transfer; the second is addressed to Janet Griffin in the Saint Luke’s finance office to let her know the name of the stock being donated, for what purpose, and from whom. Janet will be happy to answer any questions you might have. Please call her at 203-655-1456 ext. 38. Thank you.
Stock Transfer - Broker Letter
Stock Transfer - Griffin Letter
