Some Facts on Planned Giving from the Board of the St. Michael’s Fund
What is planned giving?
While living our day-to-day lives in gratitude for all we have been given by God, as Christians we are also called to plan for the future, especially concerning the welfare of others, including our families. We are also called to plan for the future of our church—our spiritual family.
More than a decade ago, to help ensure the future of St. Michael’s, the Vestry established the St. Michael's Fund to receive and manage donations made to provide for the long-term financial health of the parish. The Board of the St. Michael’s Fund is charged with managing the monies donated to the Fund and also encouraging future donations, known as “planned gifts.”
Planned gifts serve as a bridge connecting our past, present, and future. Unlike annual pledges, which usually come from people's current income, ultimate or planned gifts provide for future ministry and mission and come from accumulated assets, either as an outright gift (such as appreciated securities or property) or as a deferred gift, most commonly bequests in a will. Gifts planned in the present thus help us honor our past by ensuring our future.
You are invited!
For more than 70 years, St. Michael’s has provided a nurturing community in Christ to generations who have generously given their time, talent and treasure to build and sustain a vital parish.
Please join us in continuing this legacy through planned giving. Your commitment will allow those who follow to enjoy the strong spiritual community and sense of ministry and mission that we have inherited from our predecessors here at St. Michael’s Church.
What are the types of planned gifts?
Planned gifts can be made through:
• A bequest in a will. • A life income gift: through such means as pooled income funds, charitable gift annuities, and charitable remainder trusts, you can give a gift and still enjoy income during your lifetime. • 40l(k) & Tax Deferred Accounts, where the church can be made a beneficiary of an account. • Life insurance: the church can be made the owner, beneficiary, or contingent beneficiary of new or existing policies. • A life estate, such as the gift of a home; you retain the right to live in or receive income from the property for as long as you or your beneficiary lives. • A gift of appreciated property, such as real estate or securities.
How can I make a planned gift?
The easiest way to make a planned gift is to provide for St. Michael’s when you make or revise your will. Sample language might be: “I give, devise, and bequeath (state amount, asset, or percentage of the estate) to St. Michael’s Episcopal Church in Arlington, Virginia, as a gift to the St. Michael’s Fund.”
ECF consultants are also available to discuss planned giving options; they can be reached at 1-800-697-2858.
What does St. Michael’s do with planned gifts?
In 1999, the Vestry of St. Michael’s established the Saint Michael’s Fund to receive and manage donations intended to provide for the long-term financial health of the parish.
Generally, undesignated gifts of $1,000 or more (other than those made as part of annual pledging) and gifts specifically donated to the St. Michael’s Fund become part of this endowment.
On an annual basis beginning in 2013 (and in accordance with its Charter), the Fund has made available a portion of its earnings to support the ministry and mission of the parish.
How is the St. Michael’s Fund managed?
The Fund is managed by a five-member board of directors, which consists of parishioners appointed by the Vestry upon recommendation of the Rector to serve staggered five-year terms.
Currently, the board has invested the assets of the St. Michael's Fund with the Trustees of the Fund of the Diocese of Virginia, a $140-million pooled-investment vehicle managed for the benefit of churches and other groups that are part of the Diocese.
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