Planned giving is a thoughtful and strategic approach to making charitable donations, and it can be a powerful way for members of Saint Coleman Catholic Parish to leave a lasting impact on their community.
One popular form of planned giving is through a charitable gift annuity. With this option, donors make a charitable contribution to the parish in exchange for a guaranteed fixed income for life. Not only does this provide the donor with a steady stream of income, but it also allows them to make a significant gift to the parish.
Another option for planned giving is a charitable trust. A charitable trust is a legal arrangement that allows a donor to place assets, such as cash or property, into a trust that is managed by a trustee. The trust can provide income to the donor and/or their designated beneficiaries, while also making charitable gifts to Saint Coleman Parish.
Donors can also consider including the parish in their wills or living trusts as a form of planned giving. This is known as a bequest, and it allows donors to make a gift to the parish at the end of their lives while also retaining control over their assets during their lifetime.
A charitable lead trust is a more complex type of trust but can be beneficial for those who want to make a substantial gift but also want to provide for loved ones. It works by providing income to the church for a period of time, after which the trust's assets will go to the donors designated beneficiaries.
Planned giving can also be done by naming the parish as a beneficiary of a retirement account or life insurance policy. This allows donors to make a significant gift to the parish without affecting their current cash flow or the inheritance they leave to their loved ones.
When making a sizeable donation to Saint Coleman, you can restrict all or some of the funds to go to specific needs of the parish such as the building fund or evangelization efforts of the religious education department.
Ultimately, planned giving is about aligning one's values and priorities with their philanthropic goals. By considering a planned gift to Saint Coleman Parish, donors can leave a lasting legacy while also fulfilling their stewardship responsibilities as members of the Catholic community.
It is important to note that everyone's financial situation is different and donors should consult with financial or legal professionals before making any decision on planned giving.