Section:
support
Bequests
Bequests are gifts made through a will or a trust that takes effect after the donor’s death. Because they reduce the size of the donor’s estate (for estate tax purposes), bequests result in an estate tax deduction.
Bequests flyer (307 kb)
Charitable Gift Annuity
A charitable gift annuity is an agreement between an individual and a qualified charitable institution. The donor transfers assets to the organization and receives fixed payments for the rest of her/his lifetime (or lifetime of another person, if desired).
Through a Gift Annuity you have the satisfaction of making a sizable charitable gift, you are building an additional source of income during later years and you have a way to further a cause you believe in while benefitting from:
- Lifetime Payments
- Management of Assets
- Tax Savings
Gift Annuity flyer (843 kb)
Charitable Lead Trust
A Charitable Lead Trust is a separately managed trust in which a donor places assets for a period of years with a specific amount of income being paid to the Franciscan Ministries Foundation, a qualified charitable organization, during the term of the trust. At the end of a specified period of years, the assets are passed on to the named beneficiaries or revert to the donor.
A Charitable Lead Trust:
- Helps the congregation; is a qualified charitable organization.
- Allows the donor to give named beneficiaries all future appreciation of the assets placed in trust without having to pay gift or estate taxes on that appreciation.
Charitable Remainder Trust
What is a Charitable Remainder Trust? It is a separately managed trust established by the donor. Income from the trust is paid to the donor and/or another beneficiary for life and/or a term of years. When the trust ends, principal is turned over to the Franciscan Ministries Foundation, a qualified charitable organization. A Charitable Remainder Trust offers an opportunity for a donor to give a gift of cash, stocks, or bonds and retain income from those gifted assets.
There are two types of Charitable Remainder Trusts:
- Charitable Remainder Annuity Trust: pays the donor and/or named beneficiary a fixed dollar amount annually.
- Charitable Remainder Unitrust: pays the donor and/or named beneficiary an amount annually which is equal to a fixed percentage of the fair market value of the trust assets.
Endowment Flyer (1.6 mg)
Corporate Gifts
A donor operating a family business may find it possible to make a more sizable gift at the same cost of a smaller gift by having the company make it directly. Because the company’s gift comes out of earnings before federal tax is levied, the tax on the amount of the gift is avoided—and the savings can be passed on to the Franciscan Ministries Foundation, a qualified charitable organization.
Estate Planning
Estate Planning is a process of integrating personal financial goals with provisions for others who survive you. It involves achieving estate-planning goals in the most efficient way, while seeking to minimize taxes and other costs. If you would like to make a bequest to help further the mission of the Sisters of St. Francis of Philadelphia, please write a letter including the following language:
- I bequeath ______% of my residual estate to the Franciscan Ministries Foundation to be used for ______.
- I bequeath $______ to the Francsican Ministries Foundation for use as its Board of Trustees may decide.
Tell your attorney:
- Our official name: Franciscan Ministries Foundation
- Our address: 609 South Convent Road, Aston, PA 19014
- Our Organization: A not-for-profit Pennsylvania corporation
- Our IRS status: 501(C)(3) organization
Life Insurance
Life insurance is an attractive method of charitable giving. Life insurance offers donors the options of giving:
- Paid-up policies
- Existing but not paid-up policies
- Recently purchased policies making Franciscan Ministries Foundation, a qualified charitable organization, the owner and beneficiary of the policy.
Bequests flyer (307 kb)
Note: There are special tax considerations for the gifts and each gift must be carefully planned.
For more information, contact our Franciscan Ministries Foundation.
