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Partner With UsTypes of Estate Gifts
Gifts of cashA gift of cash is often the simplest way to give. The gift can be made by sending a check or money order directly to the Development Office or by using a credit card (Visa, MasterCard, Discover). Cash gifts are deductible in the year in which the gift is made. All gifts are By mail: Send check or money order made payable to the Presentation Sisters to:
Donation Forms – printable and Online: Click Here to submit a donation online. A gift can also be made through our online giving page. Click here to take you to this designated area. The form is secure and ensures that the donor’s information is kept private. Of course, the Presentation Sisters do not sell or provide donor information to any other individual, company or institution.
Electronic Funds TransferThe Presentation Sisters offer an electronic banking service to make your donation process easier and more cost effective. Your gifts can be automatically be made to the Presentation Sisters from your checking/savings account. To enroll, please complete the Electronic Transfer Form (make this the link) authorizing the Presentation Sisters to have your bank or financial institution make payments in the amount you request from your account. Return the form, along with a voided check, to the Presentation Sisters. Your request will be processed and your gift payments will be automatically transferred to the Presentation Sisters. These transfers will occur on the same day each month and will continue until you cancel or change the amount of the gift. If you have any questions about electronic funds transfer, please contact Barb Grosz at 605-229-8391.
Gifts of stockAn appreciated stock gift is almost always more beneficial to the donor than contributing cash to a charity. This is because a gift of appreciated stock generally offers a twofold tax savings:
To transfer stocks held with a broker or certificates held by you:
Contact: Sister Janice Klein, 605-332-7821 or Barb Grosz at 605-229-8391 if you have further questions.
Annual Giving ProgramsAnnual Donors. An annual appeal is mailed each year in September. Gifts that are given to the annual appeal help to support the ongoing ministries of the Sisters. Monthly Donors. Gifts may be made on a monthly basis by having the Development Office debit your credit card monthly for a set dollar amount or via an electronic funds transfer. You may designate your gift for a specific purpose. Call Barb Grosz, Office & Records Manager at 605-229-8391 for details. Tributes or Memorials. A gift in honor of or in memory of a family member or friend is a special way to show your support for the mission and values of the Presentation Sisters. A tribute gift honors a special time in someone's life—a birthday, anniversary, an honor or other memorable event. A memorial gift, given in honor of a deceased loved one or friend, remembers the deceased person. A card acknowledging the tribute or the memorial gift will be sent to the person or family being honored or remembered when you designate the person you wish to honor at the time of your gift. The amount of your gift will not be disclosed.
Charitable gift annuityA charitable gift annuity is a contract with the Sisters of the Presentation of the Blessed Virgin Mary, which provides a lifelong guaranteed payout to the donor. At a time when interest rates are low, an annuity can provide a reliable source of annual income at a rate higher than the current interest rate. The income payments can supplement other income sources, such as Social Security and pension benefits, which may not provide enough income by themselves. In addition to the immediate tax deduction for a portion of the gift, some of the income is also tax-free. The rate on the annuity is based on the donor’s age (generally, the older the annuitant, the higher the level of income), whether it is a single or two-life donor, and whether it is immediate or deferred. Once the payments begin, be they semi-annually or annually, they are set at that amount for the life of the donor(s). An example: A $10,000 charitable gift annuity in July 2004 for a single donor age 60, would have an annuity income to the donor at an estimated 5.7% rate. The minimum initial contribution for a gift annuity shall be $ 10,000, unless a lesser amount is approved by the congregation president. The minimum contribution for an additional gift annuity by an individual who has previously entered into a gift annuity shall be $ 5,000. Here is how it works:
A deferred charitable gift annuity is similar to a charitable gift annuity except that the payments are deferred to a future date. A donor may defer payments to years when income is needed more, such as retirement. The donor obtains a substantial charitable income tax deduction in the year that the gift is made. Because payments are deferred, allowing the principal to grow, the donor enjoys a higher payout rate later. As with any estate planning decision, consult your legal, financial and tax advisors for advice and information on applicable state and federal laws.
Wills/BequestsWills/bequests are among the simplest and most popular planned gift vehicles for supporting the Sisters of the Presentation of the Blessed Virgin Mary. The will simply lists the Sisters of the Presentation of the Blessed Virgin Mary as a beneficiary of the assets. You retain maximum flexibility and use of your assets during your lifetime. Bequests are generally deductible for estate and gift tax purposes. A will/bequest can take any of the following forms:
Often a bequest can be arranged simply with the addition of a codicil to amend your existing will. The wording of the bequest can be very simple: I give the Sisters of the Presentation of the Blessed Virgin Mary, ______ percent of the residue of my estate, to be used by the Sisters wherever the needs are greatest. As with any estate planning decision, consult your legal, financial and tax advisors for advice and information on applicable state and federal laws.
Life Insurance PoliciesPerhaps you would like to make a sizable contribution to the Sisters to support their ministries in the future but you do not want to reduce the estate you will pass onto your family. The solution is to purchase a life insurance policy. Life insurance policies can be an easy method of supporting the Sisters of the Presentation of the Blessed Virgin Mary. It provides an opportunity to make a lasting gift without a large investment. A life insurance policy may be purchased designating the Presentation Sisters as a beneficiary. If an existing life insurance policy is no longer needed for the original intent for which it was purchased, the beneficiary can be changed to the Presentation Sisters. Giving insurance policies often creates current income tax benefits as an income tax deduction for, roughly, the cash surrender value of the policy. If the policy is not fully funded, you may continue to pay the premiums and receive a tax deduction for the annual premium amount. To qualify for a federal tax deduction, one must name the Presentation Sisters as owner and beneficiary of the policy which can readily be accomplished through your insurance company. As with any estate planning decision, consult your legal, financial and tax advisors for advice and information on applicable state and federal laws.
Charitable trustDonors, with the help of their financial advisor, may choose a charitable trust as a way of making gifts to the Sisters of the Presentation of the Blessed Virgin Mary while providing for potentially significant tax benefits. There are a variety of Trust vehicles to satisfy a particular benefactor's interest. A Trust can increase income, reduce taxes, unlock appreciated investments and rid the donor of investment concerns and obligations while making a significant gift to the Presentation Sisters. The minimum amount required to establish a Charitable Remainder Trust is $ 50,000. A trust may be established for less with the congregation president's approval. Typically, this will be done only in cases where additional contributions to the trust are expected in the future. Three specific Charitable Trusts are: • Charitable Remainder Trust (CRT): A Charitable Remainder Trust is an irrevocable Trust that pays a fixed income, for life or a specified period of time, based on the value of assets at the time the Trust is created. Depending on the terms of the Trust agreement, the Trust will then make payments to the donor and/or family or friends named by the donor. When the Trust terminates, either at the end of the beneficiaries' lifetimes or a period of years, the Trust's remaining principal will be transferred to the Sisters of the Presentation of the Blessed Virgin Mary for use. This planned gift has some generous tax advantages, including avoiding or postponing capital gains tax on appreciated property, and possible lower estate taxes. As with any estate planning decision, consult your legal, financial and tax advisors for advice and information on applicable state and federal laws.
Gifts of property/real estateA gift of property, free of mortgage, alleviates capital gains tax and gives the donor an income tax deduction on the fair market value of the gift. Donors may be allowed to remove the asset from their taxable estate and give the property to charity while still living on the property. Estate Agreement: With this agreement, a donor transfers the title to a residence or farm to the Sisters of the Presentation of the Blessed Virgin Mary while retaining the right to live there and use the property for life. The donor may be entitled to a current tax deduction equal to the value of the remainder interest. As with any estate planning decision, consult your legal, financial and tax advisors for advice and information on applicable state and federal laws.
Individual Retirement Accounts (IRAs)Donors may wish to make a gift of some of their retirement assets to the Presentation Sisters. Naming the Sisters of the Presentation of the Blessed Virgin Mary as a beneficiary of your Individual Retirement Account (IRA) or other retirement plan assets can be an ideal way of making a future gift to the sisters for the purposes of carrying on their ministries. Doing so can also provide double tax benefits by avoiding estate tax and income tax that would otherwise be due if the assets were left to your heirs. As with any estate planning decision, consult your legal, financial and tax advisors for advice and information on applicable state and federal laws.
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