Creative Planned Giving - The Diocese

Creative Planned Giving

Creative Planned Giving

Julie Simonton DIRECTOR OF CONGREGATIONAL DEVELOPMENT AND STEWARDSHIP jsimonton@thediocese.net

Ted Smith DIOCESAN TREASURER

tsmith@thediocese.net

1-800-DIOCESE | www.thediocese.net

Creative Planned Giving

www.episcopalfoundation.org

www.trusteesofthefunds.org

Stewardship is ...

Using the gifts that God gives you to do the work God calls you to do…

Our Call as Faithful Christians

As Christians, we believe part of our response

to God’s love is to support the

mission and ministry of the Church.

Essential Elements

• Tell our story

• Respond to the vision

• Demonstrate funds are safe

Types of Gifts • Ordinary – Annual Giving Funds contributed toward on-going daily ministry and operation of a congregation.

• Extra-Ordinary – Capital Campaign Special funds raised for a specific need, typically for new or enhanced facilities.

• Ultimate – Planned Giving Gifts to support the future ministry and security of a church and its mission.

The Minister of the Congregation is directed to instruct the people, from time to time, about the duty of Christian parents to make prudent provision for the well-being of their families, and of all persons to make wills, while they are in health, arranging for the disposal of their temporal goods, not neglecting, if they are able, to leave bequests for religious and charitable uses. (BCP pg. 445)

The Minister of the Congregation is directed to instruct the people, from time to time, about the duty of Christian parents to make prudent provision for the well-being of their families, and of all persons to make wills, while they are in health, arranging for the disposal of their temporal goods, not neglecting, if they are able, to leave bequests for religious and charitable uses. (BCP pg. 445)

What is special? • Future focused

• Donor passion

• Raises institution to level of family

• Builds trust and awareness

• Is creative

Questions?

Types of Planned Gifts • Bequests given through wills/trusts • Life Income Gifts (LIG)

o Pooled Income Funds (PIF) o Charitable Gift Annuities (CGA) o Charitable Remainder Trusts

(CRUT/CRAT) • Special Asset Gifts: 401k, 403b, & tax

deferred accounts (IRAs); life insurance; real estate; other appreciated property

• Charitable Lead Trusts

Bequests through Wills/Trusts

• Bequests types: o Specific Amount o Percentage o Specific Assets and Remainders o Contingency Bequest

• Bequest designations: o Restricted o Unrestricted

Life Income Gifts Basics • Pooled Income Funds (PIF) • Charitable Gifts Annuities (CGA) • Charitable Remainder Trusts

(CRUT/CRAT) +++

Donor makes irrevocable gift Donor receives charitable

deduction in the year of the gift Donor receives income for life Remainder given to church

Life Income Gifts Basics

Pooled Income Fund (PIF) • Donor income varies based on

fund performance • Minimum age: 50 • Minimum gift: $2500 • Donor may add gifts, $1000

minimum

Life Income Gifts Basics Charitable Gift Annuity • Most popular, nearly 90% of gifts • Donor income guaranteed for life • Income based on age at time of

gift (higher payout on higher age) • Minimum age: 55 • Minimum gift: $5000 • Younger donors: payments may

be deferred • Percentage of remainder goes to

program support

Life Income Gifts Basics Charitable Remainder Trusts • Minimum gift: $100,000 • Minimum age: 50 • Payments set by trustee with

donor input o Fixed Annuity (CRAT) o Variable (CRUT)

• Assistance is available to draft this trust for donor’s attorney

• Variety of options for appreciated assets

Endowments • Future focused • Strategic growth • Share stories and report impact • Biggest obstacle is lack of

awareness • Every other charity is approaching

parishioners, but Episcopalians are reticent

• Raise awareness to all generations

Blended Gifts Current gifts of support • Annual pledge, capital campaign, special gift • Giver is able to enjoy the impact • Paid insurance policy • Appreciated stock • IRA required minimum distribution

o 70 ½ or older o Up to $100,000 directly to charity

without counting distribution as taxable income

o Qualified Charitable Distribution (QCD) • Donor Advised Fund

Questions?

Resources • The Episcopal Diocese of Virginia

o 1-800-DIOCESE o www.thediocese.net

E-Communique (bi-weekly e-mail) Virginia Episcopalian (quarterly magazine) Trustees of the Fund

o www.dvagiving.org Planned giving focused e-mail

• Episcopal Church Foundation o ECF Vital Practices @ www.ecfvp.org

Webinars, articles, resource links o Planned giving resources @ www.episcopalfoundation.org

Thank you!

Commit your work to the Lord and your plans will be established. Proverbs 16:3