LEAVING A LEGACY THROUGH PLANNED GIVING/ ESTATE PLANNING

 

how do i Invest in the Future of St. Timothy’s Episcopal Church?

 At St. Timothy’s we are blessed:

• to have ministries that enrich our spirituality and foster fellowship,
• to worship together in a church building rich in architectural interest and beauty, and
• to be part of a parish diverse in skills and talents and generous with time and treasure.

 We are also blessed to have St. Timothy’s – people, programs, prayers – available to us whenever we need comfort and support.

 How do we share our thanks for these blessings? As Christian stewards we praise, honor, and serve God out of love and gratitude for the gifts granted to us.  

What we do with our resources is a concrete expression of what we value and who we are.

Our stewardship is an expression of:

• our thanks for the gifts we have received from God and from one another,
• our support for the parish ministries and outreach programs that nurture our parish family and give witness to those whose lives we touch in God’s name, and
• our care for the house and grounds that God has blessed us with for our worship and fellowship.

 Individually and collectively we strive to be good stewards of our resources.

 

what does it mean to "LEAVe A LEGACY" to st. timothy's?

Would Like to Help? Can’t Afford it Now? Would Like to Lower Estate Taxes? Then Leave a Legacy to St. Timothy’s. The simplest way to leave a legacy to St. Timothy’s is through a bequest in your will.

St. Timothy’s urges parishioners to undertake estate planning to protect the family assets throughout life and at the time of death; it reminds them that it is appropriate to remember the church when executing wills, charitable remainder trusts, life income gifts, etc. and when designating beneficiaries for life insurance policies, IRA’s, etc.

The transfer of funds for something you value highly is deferred until after your death, so a bequest does not decrease your current assets or income. There are several ways you can do this: Give a percentage of your assets or a fixed dollar amount, say $10,000, or more or less. Give a specific asset, i.e., stocks, real estate, etc. Give a portion of your IRA or retirement plan (percentage or fixed dollar). Give a residual bequest – what is left of your estate after other inheritance designations.

Consult with your attorney when writing a new will or amending one already in place. For more information about gifts to St. Timothy’s call (513) 474-4445.

 

What is Planned Giving? 

Planned Giving comprises a variety of ways that charitable gifts can be made to the Church from our accumulated resources. It usually involves financial or estate planning; although it is not reserved only for the wealthy. Personal estate and gift planning are the means by which each person who is concerned with the wise use of his or her personal resources makes a considered choice about their ultimate disposition. 

Planned Giving is a set of ways you can leave money or other assets to a nonprofit organization, such as the Church, upon your death or a way to invest money so that you receive benefits during your lifetime and then pass on the remaining funds to the Church or another nonprofit, either upon the passage of time, the occurrence of a certain event, or upon your death. 

Pay careful attention to yourselves and to all the flock, in which the Holy Spirit has made you overseers, to care for the church of God.                                                                                                                                                                                                     ~ Acts 20:28

 Various financial instruments are available that you can adapt to your personal needs and situation. In general, planned gifts are made through:

• a bequest in your Will
• a gift of assets, such as Real Estate or Securities (Bonds, Mutual funds, Stocks)

• designating a beneficiary in a Life Insurance Policy, IRA, IRA Rollover, 401K, or Life Income Gift (e.g., a Charitable Remainder Trust, Charitable Gift Annuity or Pooled Income Fund) 

Planned Giving establishes a way for us to provide for family members while also remembering the Church. It often enables us to provide more for our heirs and make a larger gift to the Church than otherwise possible. Quite frequently it reduces taxes. 

Planned Giving enables you to distribute financial resources to provide for yourself and your family, as well as to help provide a means to enable St. Timothy’s to carry out its mission. You can ensure that your financial generosity is used in exactly the way you want it to be. Anyone can take advantage of this opportunity. There is no minimum amount for a planned gift.

 

What can planned gifts do?

 Your generosity in making a planned gift can:

• Strengthen the church’s financial future;
• Support a ministry especially important to you;

• Honor your family, a loved one or friend; or
• Promote and Grow the church’s outreach efforts, its youth ministry, its music program and generally enable it to carry out its mission.

 

How are planned gifts used? 

At St. Timothy’s, unless otherwise specified by the donor, planned gifts are deposited into the parish’s Operating Account and, upon acceptance by Vestry, transferred to the permanent Endowment Fund. A six-member Planned Giving Committee is charged with the responsibility to safeguard and promote the growth of the Endowment Fund and to encourage parishioners to consider supporting the Fund through special gifts or by remembering the Church in their estate plans. The Committee’s trustees, two of whom are elected by the parish each year for three-year terms, are charged with preserving the principal of the fund and maximizing the income that is earned each year. Fund earnings are then used to support the Church’s mission, in accord with the designated intent of each donor. 

A donor can designate a planned gift for any one or more of five funds that make up St. Timothy’s Endowment Fund:

• the Youth Ministries Fund
• the Outreach Ministries Fund
• the Music Program Fund

• the Building Fund, for maintenance and improvements to the physical plant; and
• the General Fund, for the Church’s general use, if no other designation is specified

 

if i am considering making a planned gift, where do i start?  

If you would like to consider making a planned gift, first talk it over with your family so they understand your wishes. Then speak to the Rector or a member of the Planned Giving Committee who can discuss this further with you. We encourage you to then work with your "trusted advisor" be it your accountant, attorney, or financial advisor to ensure that the option you choose is appropriate for your particular circumstances. 

e would be happy to discuss with you how a charitable gift can be an important part of your estate plan and would be pleased to discuss with you and your advisor the most advantageous ways to make them.

You are welcome to attend any of the estate planning seminars that the Planned Giving Committee hosts for interested parishioners.

arge or small, your planned gift is your legacy to ensure that St. Timothy's remains alive and vital, continuing to serve, enrich and provide for the spiritual needs of all. St. Timothy's appreciates your interest and support.

 

Where can I find helpful information on Estate Planning? 

For more information about estate planning and planned giving, a number of websites provide helpful. basic information.

 Here are a couple that can help: 

www.investopedia.com

www.leavealegacy.org

 You are also welcome to attend any of the estate planning seminars that the Planned Giving Committee hosts for interested parishioners. 

Large or small, your planned gift is your legacy to ensure that St. Timothy’s remains alive and vital, continuing to serve, enrich and provide for the spiritual needs of all. St. Timothy’s appreciates your interest and support.

 St. Timothy’s Episcopal Church and members of its Planned Giving Committee are not engaged in rendering legal or tax advice. For advice and assistance regarding planned giving, please consult an attorney, financial adviser, or other professional. 

 

How do I give gifts in the form of securities (Bonds, Mutual Funds, or Stocks)?

If you wish to make a special gift to St. Timothy's or to pay your pledge by transfer of shares of a security in your portfolio, held in street name in your brokerage account, please follow these procedures:

Request your broker to deliver shares of the designated security to DTC (Depository Trust Co.) Participant #0226 (PNC Investments) for the account of St. Timothy's Episcopal Church, Number 005946346. In addition, contact Bookkeeper Joyce Dees (JoyceD@SaintTimothys.com, 513-474-4445) to let her know what security is being transferred so that she can identify the contribution when received in the church's account. If your brokerage account is in PNC, just have the transfer made to St. Timothy's account there, and let Joyce know.

If you contribute securities registered in your name, rather than securities held for you by your broker in street name, take the certificate(s) to your broker, and, in the presence of a representative, either sign the assignment form on the back of the certificate(s), or sign a separate assignment form. Be sure your brokerage representative then attests the authenticity of your signature(s). It's preferable to sign the separate assignment form to preclude an unauthorized transfer of your shares. Deliver the shares, with assignment form(s) if applicable, directly to Joyce Dees.  Please contact a Planned Giving Committee member with any questions.

 

What is the Endowment Fund?

St. Timothy’s Endowment Fund was set up in 1978.  That previous parishioners had the foresight to establish the Fund is witness to our parish’s faith in the church’s mission and future vision.  The Fund embodies the hope and confidence that St. Timothy’s will continue for future generations.

Five funds make up St. Timothy’s Endowment Fund:

• the Youth Ministries Fund
• the Outreach Ministries Fund
• the Music Program Fund

• the Building Fund, for maintenance and improvements to the physical plant; and
• the General Fund, for the Church’s general use, if no other designation is specified

 

What is the role of St. Timothy's Planned Giving Committee?

A group of parishioners who strongly believe St. Timothy’s should be endowed with financial resources to continue and expand its mission laid the legal groundwork for a Planned Giving Committee, an arm of the Parish’s Development Committee.

At a Vestry meeting, the enabling documents were approved to form the Planned Giving Committee. Up to six committee members are appointed to serve three year terms with two members rolling off each calendar year in which new members are elected, or previous members can be re-elected. The Rector Roger Greene, along with other members of the staff may serve as an ex officio member of the Planned Giving Committee. At the Annual Meeting, the Parish votes to ratify these appointments.

The focus of the Planned Giving Committee is to safeguard and grow the Endowment Fund that already exists, provide more in-depth information to the Parish about planned giving in general to raise awareness, and to provide specifics on how individuals can invest in St. Timothy’s future through gifts to its Endowment Fund and encourage parishioners to consider supporting the fund either through a special gift or by remembering St. Timothy’s in their estate plans.

The Planned Giving Committee is charged with preserving the principal of the fund and maximizing the income earned. Once the Fund’s balance reaches a sufficient level to distribute income from the investments, the Planned Giving Committee will accept funding proposals from the Vestry and distribute funds in the following areas: 

  • Youth ministries
  • Outreach ministries
  • Music program
  • Maintenance of the physical plant of the Parish
  • Other purposes as designated by donors, including providing seed money for new ministries and special one-time projects

If you have questions about the Planned Giving Committee, about its purpose or plans, please don’t hesitate to call one of the members. They are looking forward to assisting in advancing the mission of St. Timothy’s Episcopal Church.

who are the members of the pLANNED GIVING COMMITTEE?

Roger Greene (RogerG@SaintTimothys.com)
Dan Bird (DanBird75@yahoo.com)
Scott Culshaw (SRC@ingredientmasters.com)

Jerry Eichert (JHEichert@fuse.net)
Jim Russell (Jim.Russell61@gmail.com)
Doug Ridgway (GolfingDWR@aol.com)
Jane Whipple (MJWhipple@aol.com)