| Planned
Giving
Thank
you for your interest in sharing in our mission by giving.
A planned gift is one of the most significant contributions
one can make for the future well being of St. Vincent
de Paul. Donors who remember St. Vincent de Paul in
their estate plans make a lasting impact to the financial
health of the organization. They are directly responsible
for ensuring that the programs and services of St. Vincent
de Paul are there in the future for those who need them.
What is a planned gift?
A planned gift is one in which assets are turned over
to St. Vincent de Paul, either permanently or for a
time, to which the owner retains some of the rights
of ownership. As a result, donors can enjoy the satisfaction
of having helped those in need while at the same time
providing a lifetime income and a number of possible
tax advantages for themselves and their families.
A donor may make a planned gift by including St. Vincent
de Paul in your will, establishing a gift annuity, donating
securities or cash to the endowment fund, or purchasing
a life insurance policy with St. Vincent de Paul as
beneficiary.
Bequests
Making a bequest to St. Vincent de Paul is a wonderful
way to make a gift that can help support our mission
for many years to come. Along with significant tax benefits,
you’ll be making a gift that will have lasting
impact for others. Here are four popular ways to make
a bequest gift:
Direct
Bequest
You simply bequeath to us a specific sum of money or
other asset. This will allow us to determine the best
use of your bequest.
Percentage or Residue Bequest
You may choose to leave St. Vincent de Paul a percentage
of your estate or the “rest, residue and remainder”
of your estate after all other bequests, debts and taxes
have been paid. A percentage will compensate for any
changes in the value of your estate over time.
If you are considering including St. Vincent de Paul
as a beneficiary of your will or trust, please use our
legal name and address, as listed below.
"I
give, devise and bequeath to St. Vincent de Paul Society
of Baltimore, Inc., a charitable organization whose
principal office is located at 320 Cathedral Street,
Baltimore, MD 21201 (state percentage of estate or residue,
sum of money or otherwise describe property) to be used
for its general (or state specific) purposes."
St.
Vincent de Paul prefers that bequests be made for its
unrestricted general purposes, so that the funds may
be placed in reserve for use where they’re most
needed. However, you may also designate a specific program
for your bequest gift.
Life Income Plans
Charitable Gift Annuity
Charitable Gift Annuities enable you to transfer cash
or marketable securities to us and receive a gift annuity
that provides you and/or your spouse with fixed annual
payments for life. You also receive a tax deduction against
your current income. Annuity payments can begin immediately
or can be deferred to some future date. Upon your passing,
St. Vincent de Paul is the beneficiary of the remainder.
Charitable Remainder Trust
Another type of plan, a charitable remainder trust,
provides that the trustee hold and invest a principal
amount and pay a fixed or variable amount to one or
more named beneficiaries for their lifetimes or a term
of years. After that, the remainder is distributed to
St. Vincent De Paul.
Life
income plans can provide your estate with tax savings.
As with any financial decision, you should consul t
with your financial advisors. If you are planning a
gift to St. Vincent de Paul, please let us know so we
can ensure that your gift can be used according to your
wishes.
Endowment
Gifts
Endowment
gifts are placed in a permanent fund that allows only
earned income to be spent. The principle is invested.
St. Vincent de Paul has an endowment that funds capital
and operational projects throughout the organization.
The larger the endowment, the more income St. Vincent
de Paul will have to support programs and services in
the future.
For
a gift of $5,000 or more you can make a gift to the
general St. Vincent de Paul Endowment Fund, to be used
where most needed, or you may designate your gift to
one of four program funds: Beans and Bread, Sarah’s
Hope, St. Ambrose, or Camp St. Vincent.
For
a gift of $25,000 or more you can establish a permanent
memorial fund in your name or that of another person
within the St. Vincent de Paul Endowment fund. The principal
will be invested in the St Vincent de Paul Endowment
Fund and the income generated will continue to provide
support to the organization in perpetuity. You may designate
a specific program to be the beneficiary of the fund’s
income, or allow the proceeds to be used wherever most
needed.
Life Insurance
There are three ways a gift of life insurance can benefit
you and St. Vincent de Paul:
-
An outright gift of a paid-up life insurance policy
makes an excellent charitable gift. St. Vincent de
Paul will take a policy's cash value or we will retain
the policy for its ultimate death benefit. You receive
a current deduction amounting to the cost of replacing
the policy with a single premium life insurance policy
at your current age (but not more than you've invested
in the policy).
- You
can take out a new policy with us as owner and beneficiary.
Your continuing premium payments, usually gifted directly
to St. Vincent de Paul, are income tax deductible.
- You
can also donate an existing policy and keep up the
premiums. If you should lapse on the payments, St.
Vincent de Paul will receive the current surrender
value of the policy. Group term life insurance or
employer group coverage above $50,000 also makes suitable
gifts to charity.
As with any financial decision, you should consult
with your financial advisors. If you are contemplating
a gift to the St. Vincent de Paul, please let us know
so we can ensure that your gift can be used according
to your wishes.
For
information on planning a gift, please contact Janice
Williams at 410-547-5374 or jlwilliams@vincentbaltimore.org
.
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