There are many options for donating a life insurance policy. You may donate an up-to-date policy, purchase a new policy in the parish’s name and make the premium payments. Or you can name St. John’s as the beneficiary of a current policy.
The St. John Endowment Funds are kept permanently and invested in the Archdiocese Catholic Community Foundation to provide for ongoing support to ensure the future ministries of the parish. These endowment funds can be funded now or in your Will. They can also be built up over time with routine contributions and given a special memorial name after reaching the $25,000 level.
This is a charitable gift arrangement where the use of the asset is delayed until a future time.
Charitable Gift Annuity:
Typically an agreement in which cash or other assets are transferred to a charitable organization in exchange for its promise to pay the donor and annuity for life. Charitable Gift Annuities offer the donor the opportunity to simultaneously increase their income, receive a charitable deduction, and make a gift to the parish. The income to the donor is guaranteed for one or two lifetimes (if there is a spouse). This income may be deferred should t he donor wish, or reversed immediately.
You may make a gift of property that will sell easily. You can avoid capital gains taxes on property you have owned for more than one year and receive a considerable reduction in estate taxes.
Retirement Plan Asset:
Naming the Parish or a specific program or fund as beneficiary of a retirement plan (IRA / 401K).
Money, securities, or property that are held under a trust agreement to provide income for the beneficiary.
Please contact any or the following for assistance or guidance:
Shawn Blair, Parish Business Manager
410-592-6206, Ext. 113, email@example.com
Tom Zaegel, Development Committee Director,
Ray Dietz, Development Committee, Legacy League Chairman,