This Parish fulfills its mission each day because of the support it receives. Whether it is providing “Care & Support” to the sick, those in extended care facilities or to bereaved families; via our Religious Education efforts for the youth AND adults; our Pre-school program; our Youth Ministry programs; our efforts towards Charity and Justice; through Fellowship efforts amongst parishioners; or our mission support.
There are various ways of making an additional donation in support of this Parish & its mission. Would you consider leaving a lasting legacy or memorial in support of our efforts? Certain ways of giving may also offer tax advantages or be of interest as you manage your retirement or estate plan. This page includes some additional ideas that you may consider.
Make a Bequest via Your Will
You can make a cash bequest in your Will or in your Trust, naming a dollar amount or a percentage of your estate. It is a way of leaving a lasting gift toward the mission work of the Parish.
Gifting a Policy or Gifting Policy Dividends
Gifting a paid-up insurance policy may provide tax advantages if you own a policy that you may no longer financially “need.”
Another donor option is to gift the policy dividends. While this may not provide the same benefit as donating a policy, one could donate the policy dividends which could be considered as a charitable donation. Also, it would not require any additional cash outlay by the donor.
Name the Parish as Full or Partial Beneficiary on Life Insurance Policy
Another way to support Saint Catherine’s is to name the Parish as a full or partial beneficiary on life insurance policy. It is a simple and easy way to leave a lasting gift. Although it does not offer the same tax advantage as gifting a policy, it may provide ad-vantages in managing your estate. If you are unsure of what the future may hold, you can name the Parish as a ‘revocable beneficiary’ which provides the flexibility for change in the event future circumstances warrant.
Consider Naming Parish as Full or Partial Beneficiary on a Retirement Savings Account— 401k/403b or IRA
Another way to leave a legacy is to consider naming the Parish as a full or partial beneficiary on a retirement-type account you might no longer need or anticipate needing.
Gift of Appreciated Stocks or Bonds
Did you know that you can donate shares of stocks or a bond and if the security has been owned more than one year and appreciated in value, there may be no long-term capital gains tax?
What are the possible advantages? Should you simply sell the appreciated security (and then donate the proceeds) you would have a long-term capital gain on that particular transaction. However, if you were to donate the appreciated security directly to the Parish, you can avoid the gain and claim as a donation the fair market value of the security.
If you have questions or inquiries about the different forms of “Giving” described herein, contact the Finance Office by contacting:
John Emilio—Finance Director
269-327-5165 Ex 110
Linda Reaume—Finance Office
269-327-5165 Ex 144