We at The Church of St. Michael & St. George believe that Stewardship is not only a very practical discipline but also a profoundly spiritual experience that affects all aspects of our daily lives. Once we embrace Stewardship as a way of life, we find that our lives become markedly different. A new spirit of generosity and sharing influences our relationships. The call to Stewardship is intimately linked to the Lord’s invitation, “Come, follow me.” As disciples of Jesus Christ, we are beneficiaries of God’s grace. We are responsible for nurturing God’s gifts and sharing our time, talent, and treasure generously.
Planned Giving is a term commonly used to describe a wide variety of giving vehicles that allow you to give to charitable organizations during your lifetime or after your death while meeting your current income needs and also providing for your heirs. Planned Giving is a viable option for donors at all income levels and is vital to the continuing operation of our Church and its ministries. Depending on how a planned gift is structured, it may allow you to receive a stream of income for life, earn a higher investment yield, and reduce your capital gains and estate taxes. To learn more about Planned Giving, please contact Alexis Posnanski at 314.721.1502, #4044, or by email.
What is Planned Giving?
Simply put, Planned Giving is making a gift now to be received by the Church at a later date. It can be a gift of securities, real estate, tangibles, cash, or virtually anything of value and in any amount. One does not need to be wealthy to make a gift of lasting value. Bequests can be either restricted or unrestricted. Income from all gifts is used by the Board of Trustees of the Endowment Fund in a number of important ways, including:
- To foster maintenance and modify the physical structure of the Church
- To initiate and grow ministries within our parish and beyond
- To support adult education and spiritual formation
- To encourage the Youth Ministries and Church School
- Provide for clergy and staff development
Ways to Give
There are almost as many variations on ways to make a donation to the Church as there are needs to be met. Explore this section to discover new ways to make a gift that also takes into consideration your personal circumstances and the needs of your heirs.
Giving through your will
A bequest is the simplest and most often used method of Planned Giving. Rather than specify a particular sum or piece of property, some donors give a percentage of the estate or the residue of the estate after outstanding obligations and family bequests have been paid.
A bequest to The Church of St. Michael & St. George can be added to an existing will with a simple codicil or will change.
Giving gifts that pay an income
Through a Charitable Gift Annuity, you can receive a guaranteed, fixed income for the remainder of your life. The guaranteed rate of return ranges from 5% to 11% depending on your age (from 60 years old to 90+). You receive an immediate income tax deduction, and a portion of the annual income is tax-free. Setting up a Gift Annuity is simple and cost-free. The remaining principal and any accrued income are distributed to The Church of St. Michael & St. George upon your death.
A Charitable Remainder Trust also pays an income and has many of the same benefits as a Gift Annuity. The details of a trust are more complicated but are also flexible enough to fit individual needs.
Giving through life insurance
There are two common ways life insurance is used to make a gift. First, you may give a policy that is no longer needed. When you transfer the policy to The Church of St. Michael & St. George, you receive an immediate tax deduction. Second, you can purchase a new policy and name The Church of St. Michael & St. George as both owner and beneficiary. Premiums paid yearly can be claimed as a charitable deduction.
Real estate and tangible personal property
An individual may donate real estate, artwork, a coin collection, jewelry, or other tangible personal property and receive tax benefits. It may be something that the church can use or something that can be liquidated to provide funds for other purposes.
The Church of St. Michael & St. George is not engaged in rendering legal or tax advice. For assistance with specific cases, the services of an attorney or other professional advisor should be obtained. For more information about the financial needs of The Church of St. Michael & St. George, or methods of giving, please contact the church or Alexis Posnanski via email or at 314.721.1502, #4044.
Gifts of Stock and Foundations
Many parishioners have found that there are certain tax advantages to making a stock gift to The Church of St. Michael & St. George. If you wish to make a stock gift, we have an account at Wells Fargo, and you may use any one of the following contacts to complete your stock transfer. A private foundation is an independent legal entity set up for solely charitable purposes. The funding for a private foundation typically comes from a single individual, a family, or a corporation, which receives a tax deduction for donations.
Wells Fargo Contacts:
Advisor – Chris Kuhn, 314.516.0502, firstname.lastname@example.org
Client Assistant – Cynthia Tuggle, 314.692.3229, email@example.com
Account number 2217-3623
DTC Code – 0141 Wells Fargo Advisors
2801 Market Street St. Louis, MO 63103
If you make a stock gift, please notify The Church of St. Michael & St. George’s bookkeeper, Terry Arthur, at 314.721.1502, #4037, or by email that you are making a transfer.