Examples include bequests of money, stocks or tangible possessions; as well as life insurance policies and Charitable Gift Annuities. Additionally, there are more complex trust entities – charitable remainder trusts and lead trusts. Below are a few of the many ways you can plan your giving:
WILL – state the disposition of your property upon your death. You may designate Our Lady of Guadalupe Church as a beneficiary in your Will.
BEQUEST – you may identify or designate a specific gift of property or assets for Our Lady of Guadalupe. The lasting impact of bequests—both large and small—has helped shape Our Lady of Guadalupe Parish today. For many parishioners and friends of Our Lady of Guadalupe, a charitable bequest is the easiest and best way to make a gift to the church. By means of your will or other estate plan, you can name Our Lady of Guadalupe Church as the beneficiary of a portion of your estate, or of particular assets in your estate. Many of the most powerful gifts with an enduring impact have been bequests, including the property of the church and school campus which was a bequest to the church.
There are many reasons to make a bequest. A bequest allows you to honor a loved one, while providing critical support to the church through an endowment, or another fund underwriting capital growth or ordinary budget.
Giving by bequest costs nothing now, yet it may give you a great deal of satisfaction to know that your future gift will live on.
LIFE BENEFIT - you can designate proceeds from a life insurance policy's face value payable to Our Lady of Guadalupe in your Will or you can specifically name Our Lady of Guadalupe Church as the sole beneficiary of your policy.
GIFT ANNUITY - these agreements constitute one method by which religious, charitable and educational organizations solicit and receive contributions to carry out their purposes.
A person who enters into a Gift Annuity Agreement with a religious, charitable or educational institution makes a gift to the institution and receives fixed payments for life. If the person could afford to do so, he or she would probably donate as an outright gift the entire amount paid to the organization; but he or she needs to make some provision for income while alive.
You should consult with your attorney or financial adviser to determine if a Gift Annuity for Our Lady of Guadalupe Church by which you transfer cash or property in exchange for income payments makes sense for you.
LIFE ESTATE - A life estate gift is also called a gift of a remainder interest in a residence, vacation home, or farm to a charity while the donor is living, and the donor retains the right to use the property for life. The donor receives a current income tax deduction for the gift that can be used to reduce one's current taxable income. you give home or land and retain rights to occupy or benefit from the property for life. A life estate cannot be given away in a will.
The property deed of a life estate specifies who the holder of the estate is and who gets the land when the holder dies. The holder can transfer the estate to someone else while he is alive, but that person must transfer the property to the person specified in the deed when the original holder dies. The holder can do what he wishes with the property as long as he leaves it usable for the next person.
Contact your attorney about a life estate gift to Our Lady of Guadalupe Church.
CHARITABLE REMAINDER TRUST - a trust which returns income, fixed or variable, to you or others for life, or a period not to exceed 20 years. A charitable remainder trust can be created through various financial institutions, that offer trust fund services. This type of trust is used to generate immediate income to a personal beneficiary, and a donated asset value is released to a charity at the end of the trust.
A charitable remainder trust is generally used as a method of reducing an estate or individual's tax burden, as the value of the charitable donation can be credited. This type of trust is flexible, as it can use multiple forms of assets, but it requires an initial setup period as well as maintenance costs over the term of the trust.
Contact your financial adviser or financial institution about establishing a charitable remainder trust for Our Lady of Guadalupe.
CHARITABLE LEAD TRUST - this is a trust whereby you transfer assets/funds to a trust which, in turn, pays the charity for a certain period of time. A charitable lead trust, the inverse of a charitable remainder trust, is an irrevocable trust that generates a potential income stream for one or more charities of the donor's choice, with the remaining assets eventually going to family members or other beneficiaries.
For more information about setting up a planned gift, contact your legal and/or financial adviser.
The Our Lady of Guadalupe Parish Endowment Fund is intended to provide a perpetual stream of income to the parish for generations to come, so that Our Lady of Guadalupe can continue to carry out its mission. Contributions to the Endowment Fund are invested by the Catholic Foundation of Northeast Kansas and only the interest income earned on the fund may be spent for a specific purpose. Currently, all earned interest is reinvested.
If you would like to make a financial gift to Our Lady of Guadalupe Church in memory of a specific person, the Endowment Fund is a meaningful way to honor your loved one. Please contact the parish office at 785-232-5088.
Want to Double Your Money?
Many employers (or their charitable foundations) match donations made by their employees to charitable organizations dollar for dollar; sometimes even more. These are called Matching Gifts or Matching Funds. Some employers match gifts to religious organizations, but many do not; however, educational agencies like Holy Family School are usually eligible to receive matching gifts.
Do you know if your employer has such a program? You can ask your company's Human Resource Department.
This simple inquiry could double your contribution without costing you one penny more. And the process can be as easy as submitting a form to our finance office along with your donation.
Stock Transfers & U.S. Savings Bonds
Appreciated Stock and Securities
We understand that cash may not always be the best way to give, so there are other options in which to support Our Lady of Guadalupe and its missions. Giving through appreciated stock is a simple process and only takes a few minutes.
You can call the Parish Bookkeeper regarding the number of shares and name of the security that you intend to transfer to Our Lady of Guadalupe Church.
When donating appreciated stock, you are entitled to a charitable deduction equal to the fair market value of the stock. You will also avoid income tax on the capital gain while supporting the mission of Our Lady of Guadalupe Church.
Expired U.S. Savings Bonds
Several series savings bonds have recently reached final maturity and no longer pay interest. Contributing the proceeds from these bonds to Our Lady of Guadalupe Church will produce a charitable deduction that offsets tax on unreported interest and reduces other taxable income.
You can also contribute the proceeds from the sale of U.S. Savings Bonds toward a charitable gift annuity for Our Lady of Guadalupe Church. It will produce a generous tax deduction to help offset the taxes from the bond redemption. Your charitable gift annuity pays you an income for the rest of your life and results in a terrific gift to Our Lady of Guadalupe Church.