Stewardship - Planning for Future Ministry

Planned Giving

As members of St. Mark's, we are called to be good stewards of the assets with which we have been blessed. This calls for faithful financial and estate planning for ourselves and our families to assure that future needs will be met.

It also includes considering how we might provide in the future for the church that we have loved and served during our lifetime, in order that its mission remain vital.

What is a planned gift?

A gift to the St. Mark's Endowment Fund is a gift planned for during the donor's lifetime and usually (but not always) received by the church after the donor's death. Usually such gifts come from the donor's assets rather than current income.

How will my gift be used?

The purpose of the Endowment Fund is to strengthen the long-term ministry of St. Mark's Church by creating and building financial assets which will help St. Mark's develop significant new ministries beyond what would otherwise be possible through its annual operating budget and to enhance the facilities of the church.

Many gift options are available

Bequests are the most common type of planned gift, but numerous vehicles can be used, including some that provide the donor with a lifetime income.

Giving options include:

• Bequests by will
• Outright gift of cash, securities, real estate, personal property, etc.
• Life insurance policies
• IRA assets whereby the donor names the church as beneficiary of the IRA, possibly avoiding estate taxes
• Gift annuity in which a donor transfers assets to St. Mark's with a one-time charitable deduction in return for lifetime annual income of a fixed amount. At death, the remaining value of the gift is given to the church. A minimum gift is $1,000.
• A pooled income fund which provides a one-time charitable deduction and distributes a share of the fund's earnings to designated beneficiaries during their lifetime. Upon the death of the life income beneficiaries, the remaining value of the gift is given to St. Mark's. Minimum gift is $2,000.
• Charitable remainder trusts which pay a fixed or variable income based on a percentage, usually 5%, of the trust's annual value or of the gift amount. The donor receives a one-time tax deduction. The assets become the property of the church on the donor's death or after a pre-established time period.
• Deferred gift annuity in which the donor makes a gift now and receives an immediate tax deduction, and begins receiving income at a later date, usually at retirement.
• Charitable lead trust in which the church receives payments for a given number of years, at the end of which the assets are returned to the owner of his/her designee.
• Other trusts and annuities also can be structured to meet the specific needs of the donor.

The Investment Committee of St. Mark's Church has a professional financial planner who oversees our endowment funds. The funds are carefully managed so that your legacy will grow and strengthen the future ministries of St. Mark's Church.

For more information, see The Episcopal Church Foundation's Planned Giving Services.