Ways To Give
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Through Re-Igniting Our Faith we will fund our Gospel mission and ensure that our parishes, programs and people are fully supported to meet the demands of the future.
Campaign gifts may be made outright or as a pledge. Gifts to the campaign are payable over a five-year period and can be made in a variety of ways.
- In addition to gifts of cash, donors can make their contribution through publicly traded stock, mutual fund shares, retirement fund assets, life insurance policies, real estate, planned gifts, and other forms of payment. Donors may also pursue matching gifts from their employers.
- Not accepted are gifts of time shares, mobile homes, cars, or real estate with outstanding debt.
- The Foundation reserves the right to refuse any gift that is judged to be inconsistent with institutional needs or values or too expensive or difficult for the Foundation to administer.
Particular guidance is provided with respect to the following types of gifts:
Cash is the simplest donation and provides immediate benefits. Your gift can be made outright or fund many of our life income arrangements. Gifts of cash include currency, personal checks, money orders, credit cards and wire transfers.
Any pledged gift must be evidenced in writing and must include a timetable as to when and how the gift will be made. Pledge payments should not exceed three to five years, although exceptions may be granted by Foundation staff.
Planned and Estate Gifts
Estate and other planned gifts, such as bequests and trusts, are most welcome and appreciated.
Sample ways to make a planned gift (payable to the Re-Igniting Our Faith Foundation, Inc. and designated for your specific parish campaign account) include:
- Bequests Under Wills
Most planned gifts are made with the simplest form of gift: a bequest under your will. Your attorney can prepare the necessary document.
- Gifts of Life Insurance
Donors can assign an existing policy that is no longer needed for its original intended purpose. Upon the donor’s death, the proceeds will be added to the parish campaign account at the Foundation. A donor may also purchase a policy and name the Foundation as the beneficiary. Upon your death, the proceeds will be added to your parish campaign account. Please contact your insurance agent for more information.
- Use of Retirement Plan Assets
For many friends of the parish their IRA or other qualified retirement plan represents a major family asset. Federal income tax law changes now allow IRA owners age 70 ½ or older to take a tax-free distribution of up to $100,000 and donate it to charity. Please contact your retirement plan administrator for more information.
- Gifts of Appreciated Assets (Stocks/Bonds/Mutual Funds)
One of the simplest gifts is the possibility of using Appreciated Assets, often low-yield and in a well-timed manner, to make either outright gifts to the parish campaign account or to fund a charitable life income plan like a charitable remainder trust. If the donor uses an appreciated capital asset held at least one year to fund a charitable plan, any charitable deduction will be based on that asset’s full fair market value.
- The potential sale of appreciated assets can be the “triggering event” that causes individuals to consider seriously a charitable arrangement. There are significant planning advantages in these plans: both capital gains and income tax savings, higher returns from investing a balance undiminished by taxes and tax-deferred diversification. Please contact your advisor for more information.
- Charitable Remainder Trust
Charitable Remainder Trusts have two forms: annuity trust or unitrust.
- An annuity trust pays a fixed percentage rate for the entire term of the trust to the donor for life, and the remainder to the parish campaign account at the Foundation. The term cannot be varied, nor can additional assets be added to the trust.
- A charitable remainder unitrust is currently the most popular vehicle for larger gifts. It pays the donor the stated percentage return based upon the value of the assets, which are revalued on an annual basis at the end of the calendar year. Upon the donor’s death, the remainder goes to the parish campaign account at the Foundation.
Many companies have a matching gift plan to encourage employee philanthropy. Often they come with restrictions that must be adhered to in order to qualify. Please be aware that many companies exclude religious organizations. If you are considering a matching gift, please obtain the application from your company to see if gifts to the campaign would be eligible for a match. If you are unsure, please call Tom Prindle, Executive Director of the Re-Igniting Our Faith Foundation, at 518.453.6680 to discuss your company’s match. We will assist you with the process. Gifts that are eligible will count toward your parish goal.
Gifts of real estate will be handled on a case-by-case basis. If you would like the Foundation to consider a gift of real estate, please contact Tom Prindle, Executive Director of the Re-Igniting Our Faith Foundation, at 518.453.6680. It will be the responsibility of the donor to have the property appraised by an independent agent for the purpose of establishing the value of the charitable tax donation.
It is the responsibility of the donor to consult with a tax advisor or attorney for the purpose of determining tax deductibility. A tax substantiation letter will be provided.
Stocks and Securities
Delivery through a Brokerage Account:
DTC # – 8862
Acount # – 808-04116
Account Name – Re-Igniting Our Faith Foundation, Inc.
Delivery of Actual Certificates:
To coordinate your transfer please contact:
Ms. Jennifer Nolan
69 State Street
Albany, New York 12207
Tel: (518) 462-8330 Fax: (518) 618-3177
If making a transfer of shares from a Mutual Fund, contact Merrill Lynch to advise that shares are being transferred. Specify the name of the fund, number of shares and the symbol.
In All Instances:
Indicate that the Re-Igniting Our Faith Foundation should receive the stock and specify which parish campaign it is in support of.
Remember to specify the location of the parish and indicate the charitable purpose of the donation.
The stock should benefit St. John the Baptist Roman Catholic Church (AGENCY), located in Schenectady, New York (LOCATION), and fulfills my Re-Igniting Our Faith Campaign gift commitment (PURPOSE).
If there is no designation for either the Diocesan agency to benefit or the charitable purpose that is served, then the transfer may not proceed.