Planned Giving

Planned giving is charitable giving that is decided now but realized later. In this, the third century of Christ Church's life, it is our turn to secure the parish's financial health for the future. We ask that you prayerfully consider Christ Church in your estate planning. The parish has the administrative mechanisms in place to faithfully and effectively carry out your wishes in planned giving for the benefit of generations to come. The parish is a 501(c)(3) charitable organization, and all donations to its support are tax deductible.

The twin purposes of planned giving are those set forth on page 445 of the Book of Common Prayer:

  • To "make prudent provision for the well-being of their families" by having an up-to-date will.
  • To "leave bequests for religious and charitable uses."

Typically, planned gifts are specified in a person's will or through a trust contingent on a specified event. Planned gifts can be made in any of a number of ways, including:

  • Cash Bequests. The simplest way to give is through an outright cash bequest from your estate.
  • Giving Securities. By making a gift of appreciated securities owned for more than 12 months, you can deduct the entire amount of your gift, which includes the original cost of the securities plus its appreciation. This way, you avoid paying a capital gains tax on its appreciation and the deduction is based on the value of the securities when transferred to the church, as well as deductible up to 30% of your adjusted gross income. Excess deductions can be carried over for up to five years. Cash gifts are deductible up to 50% of your adjusted gross income.
  • Receiving Income from Your Gift as well as a Tax Deduction. People might ask how they can make a gift to Christ Church and reserve income for life for one or two people. You can choose between fixed or variable income payments (charitable gift annuity or a charitable remainder trust). Besides receiving income, you will receive a charitable deduction for part of what you give. If you use appreciated securities or other assets, you may reduce your capital gains taxes.
  • Providing Income to Christ Church While Benefiting Your Loved Ones. Many of our parishioners have begun to think about retirement, estate planning, charities that mean a great deal, and the transfer of wealth to their children. You can establish a gift that will provide income to the church for a number of years, with assets passing to your children in later years (charitable lead trust). This way, you reduce your income taxes and future gift taxes and avoid estate taxes on your original gift and its appreciation.
  • Making Gifts from Your Business. If you are an owner of a closely-held corporation, you can contribute stock in your company to the church and receive a tax deduction for the value of your gift.

Because each person's situation is different, your estate planner or attorney can best advise you on the plan that best serves your objectives.

For more information about planned giving to Christ Church, please contact Paul Barkett.