Financial Stewardship at All Saints
Gratitude today honors the memory of those whose generosity is the blessing we hold now. Can we dismiss tomorrow for others because we can't see beyond today? God's love must be for every brother and sister in every season of the year for all the years to come. Whether we are here today and gone tomorrow, tomorrow's abundant harvest emerges from the seeds planted today.
Stewardship is about You. It is the calling that will define who you are, what you are and allows you the opportunity to share what you have with the other members of your faith family. God bless your efforts.
• We need your prayers and support
• We need your time and your talents
• We need your thoughts and resources
• We need YOU!
WAYS YOU CAN GIVE
We are always grateful to those who financially support the workings and programs of All Saints. Most people are committed to supporting the work of organizations that make a difference in the world and although we are a small corner of the universe, our mission and life of faith deeply touch thousands of people each week.
This message is to inform you of ways to give to All Saints that you may not be aware of or have never considered. Offered are several suggestions that will enable you to fulfill your financial stewardship of the Parish as well as provide benefits to you and your family.
GIFTS OF CASH
Nothing is as simple and direct as giving cash. You can make a general donation, which will be directed towards our greatest current need. With larger donations, many contributors like to designate their gift towards a specific purpose. Please call the Parish Offices (Finance Manger at 952-469-6473) to find out if your gift can be designated in this way. You can give cash in many ways. Your personal check, money orders, cashiers checks and just “plain old cash” are always welcome or you can participate in our Electronic Contribution (see information below). Use of this method will automatically withdraw funds from your checking or savings account and be transferred to All Saints.
DIRECT ANSWERS TO QUESTIONS ABOUT ELECTRONIC CONTRIBUTION
Q. What is Electronic Contribution?
A. Electronic Contribution is an automatic transfer program that allows you to make contributions to your church without writing checks.
Q. What are the advantages or Electronic Contribution?
A. It saves you time! It simplifies your life! You also help the church stabilize their budget and save money!
Q. How is my Electronic Contribution automatically deducted from my account?
A. Once you authorize the transfer, your specified contribution is electronically transferred directly from your checking or savings account in to the church’s account.
Q. When will my contribution be deducted from my account?
A. Your contribution will be deducted from your account on the dates you specify.
Q. If I don’t write checks, how do I keep my checkbook balanced right?
A. Since your contribution is made at a pre-established time, you simply record it in your check register on the appropriate date.
Q. Without a cancelled check, how can I prove I made my contribution?
A. Your bank statement gives you an itemized list of electronic transfers. It’s your proof of contribution.
Also, as a registered parishioner, you receive a quarterly statement detailing all of your contributions.
Q. Is Electronic Contribution risky?
A. Electronic Contribution is less risky than check or cash contribution. It can’t be lost, stolen or destroyed in the mail and it has extremely high rate of accuracy.
Q. What if I change bank accounts?
A. Your church office will provide a new authorization form for you to complete (available on-line or by visiting the Parish office).
Q. How much does it cost to use Electronic Contribution?
A. It cost you nothing and will save you time!
Q. What if I try Electronic Contribution and don’t like it?
A. You can cancel your authorization for Electronic Contribution at any time by notifying the Parish in writing.
Q. How can I sign up for Electronic Contribution?
A. Simply print out this ELECTRONIC CONTRIBUTION FORM and fill it out. It can either be mailed to or dropped off at the Parish office or you can put it in the Sunday collection basket.
• Note: Use of your envelopes is suggested for weekly giving if you choose not to participate in the electronic contribution plan. This way, All Saints is able to send correct statements showing your donations for use in preparing your tax returns each year.
GIFTS OF SECURITIES
(*Important note: The information in this article in not intended as legal advice. For legal advice, please consult an attorney.) For many people, the opportunity to give a charitable donation to All Saints happens once a year. One way to participate in financial stewardship is through giving the gift of appreciated stock or giving the proceeds from the sale of depreciated stock. As always, All Saints puts all donations to very good use in expanding and refining our many education programs, meeting financial operating expenses and being able to provide faithful and meaningful liturgy. Below are some facts concerning giving the gift of securities. Thank you for your interest.
• Stocks or other investments that have grown in value and that you have held for more than one year can become a substantial gift made at a low net cost to you. You receive a charitable deduction for the donation of these assets and it is based on their fair market value on the date you give the gift. A bonus that can be yours is the avoidance of all federal capital gains tax that would otherwise be due on a sale of these assets.
• Another way to give the gift of securities is to actually take a capital loss on your taxes. If you own securities worth less now than when you purchased them, you can sell them and then contribute the proceeds to All Saints. In most cases, you are then able to take a capital loss on your tax return (subject to certain limitations), and also claim a charitable deduction for the donation of the gift of the proceeds.
• How does giving in this way benefit you and your family? As we all prepare taxes each year, it is common for many to prepare or create charitable gifts towards the end of the year to make sure that we can receive all deductions.
• To participate in giving the gift of appreciated and/or depreciated securities, please consult with your financial planner, tax advisor or attorney to make sure that you are able to claim these gifts on your tax return for the year.
A phone call to our Finance Manager, at 952-469-6473 to arrange for any transfers would be appreciated.
GIFTS OF REAL ESTATE
(*Important note: The information in this article in not intended as legal advice. For legal advice, please consult an attorney.)For some people, finding the right way to give a gift to All Saints can become a chore. Many can simply write a check or give a gift of cash, while other, especially those living on fixed or limited income find themselves having to be more creative. In the information listed below, you may find that giving the gift of Real Estate, as a stewardship offering, is a better “fit” for your personal giving goals and finances. Properties that can be given are homes, farms or rental properties.
• Owning property opens the door to a unique giving opportunity. There are two ways that you can “give” the gift of Real Estate.
1.) Donate the property outright to All Saints
2.) Place the property in trust for All Saints while you continue to live in it.
• Before you sell real estate that would result in a sizable capital gains tax, consider donating property held more than one year. You will avoid the tax and realize a charitable deduction for the fair market value of the property. This is especially appealing to newly retired or aging parishioners who are “downsizing” their lifestyles by moving into apartment or condominiums or retirement centers.
Great care should be taken to properly describe the intended property. Making sure that you are continuing to provide for your own needs as well as your family must also be taken into consideration. Speak with your financial advisor to discuss how to go about donating your property.
• If you would like to the property in trust, you can create documentation in your will deeding the property to All Saints after your death (known as a RETAINED LIFE ESTATE). Discussing it with adult children and or expected survivors is greatly advised to prevent any ill will or hurt feelings. Again, great care should be taken to properly describe the intended property. Keep in mind that should the property be sold or disposed of before your death, it could create confusion as to other property holdings you may have and where those are directed. Have your personal attorney prepare the proper documentation needed.
If you would like All Saints to take possession of the property only after the death of you and your survivors, this information must be explained in great detail in your will. If this is the way you would like to give the gift of real estate, you would be able to continue to live in the residence and can create language in your will that would also allow your spouse, children or any other family of your choosing to live in the home until their death at which time All Saints would take possession. This often works well for families because not only do they keep their members taken care of but also can address the needs of the Parish. Ask you tax advisor if your deduction can be taken immediately.
• It is the best interest of you, your descendents and All Saints Parish to take the opportunity to arrange meetings with the Pastor and the Finance Manager before arrangements are made or wills are changed. Setting up an appointment for this discussion can be done by calling either Father Wilson at (952-469-6501) or our Finance Manager at (952-469-6473). Having your attorney attend the meeting as well is recommended.
GIFTS OF LIFE INSURANCE
( *Important note: The information in this article in not intended as legal advice. For legal advice, please consult an attorney). Those who support the church do so because of belief in the mission of the church, our own personal call to stewardship and the feeling that we can help ensure the future of the parish. The availability of the income tax deduction helps a charitable person become more charitable. The focus on the end of the year is designed to remind donors of the date by which a gift must be made to take advantage of the deduction. As you contemplate your offering to the church and your plans for the future, know that All Saints is always grateful and appreciative of any gift. We are aware that for many, it isn’t a question of giving, but rather of how to give.
One unique way to give is to transfer a life insurance policy. Life insurance needs change as life progresses. Children become self-sufficient and investments may provide extra income and security. Often over the course of a lifetime, different life insurance policies can accumulate in families and one result is that not all life insurance coverage may be needed for the reason it was initially purchased. Once they are paid up, they are considered an asset and can be cashed in or turned over to someone else as a gift by reassigning the beneficiary.
A simple way to make a significant gift in the future is to name the church as beneficiary. Or you can actually purchase a new policy naming the church as beneficiary or even co-beneficiary.
As you review your year-end financial status, remember that a no-longer-needed life insurance policy is a viable gift. Policies that are paid up may be deductible as gifts for their approximate replacement value. Policies that still require premiums to be paid can be given while you continue to pay the premiums, prompting income tax deductions when the church is named as owner and beneficiary. A new policy on your life naming All Saints as beneficiary can guarantee us a future gift (check on Minnesota State Law regulations with a tax advisor, financial planner or attorney).
Making sure that your family is taken care of first is obviously your priority. However in the event that you find you have policies that you no longer need for their provision, make sure you make the most of utilizing these important assets.
GIFTS THAT PROVIDE INCOME FOR LIFE
(*Important note: The information in this article in not intended as legal advice. For legal advice, please consult an attorney). The future promises to be exciting and challenging for all. Whether you are single, married, raising a family or planning for retirement years, your future and the future of those that you care about will be a reflection of the plans you make today. Considering alternative ways to give to the church may help you enhance your future financial well being while providing a meaningful charitable gift to the church, as well. The best plans will balance what you wish to accomplish for your personal finances, those of your family and what you’d like to achieve as far as charitable gifts to the church.
• Charitable Remainder Annuity Trust
This is a way to make a gift that allows you to retain income from your property for life or for another period of time that you specify. Your funds are held separately and invested for payment of a fixed and regular income to you or whomever you name. Naming the church as the recipient can allow All Saints to receive a specific income for the life of this trust. When the trust ends (at your death) or at another time specified, whatever remains in the trust is distributed for the purposes you specify.
Usually the payments allotted out each year will be a t least 5% of the amount placed in the trust. You determine the exact amount when the plan is created and it will never change for the course of the payments. A tax deduction is usually allowed at the time you create the trust with the amount of the deduction depending on such factors as age, payment percentage as well as other variables. Please consult your attorney for further information on Charitable Remainder Annuity Trusts.
• Charitable Lead Trust
People who wish to make a substantial gift over a period of years while ensuring that their property will ultimately return to themselves or their loved ones may be interested in what is known as the Charitable Lead Trust.
The lead trust can be one of the few ways to reduce or eliminate taxes that would otherwise be due on assets left to children or grandchildren.
Under the terms of a charitable lead trust assets are transferred to a trust that pays income to the charitable recipient for the number of years that you choose. At the end of that time period, the assets are then returned to you and other persons that you name.
As with any substantial charitable gift plan, please consult an attorney when arranging for a Charitable Lead Trust.
• Creative Gifts Through Retirement Plans
Whether you participate in a company pension plan or a fund that you have established yourself (such as an IRA), you may accumulate funds beyond your needs for comfortable support of yourself and loved ones.
In such cases, it may be very easy and convenient to make a gift from such accounts to perpetuate work you consider vital for the well being of future generations. It can be very satisfying to know that funds that you carefully save over a lifetime may ultimately be put to good use now or as a part of a prudent estate plan.
Please consult your financial planner for requesting information on how to name All Saints in your retirement plan.
MATCHING GIFTS
It’s never too early to think about…Year End Giving to All Saints Church
An easy way to support All Saints is by finding out if your employer has a Matching Gift Program. Most of these programs offered through corporate institutions will only match funding to educational facilities, so it is important to remember that if you do indeed have this type of program at work, that you make any payments to All Saints School and or Building Fund. These funds will go into our general fund and be dispersed according to the needs of All Saints – in other words they can be used to pay down building debt, purchase equipment for the parish or school or be used for operating support to the many educational programs in place at All Saints.
Many smaller employers also offer matching gifts as their part in supporting the community in which they operate. Please check with your employer to see if they have this wonderful program!
Should your employer offer a matching gift program that will support education funding, please obtain the necessary form from their offices. Your contribution (made payable to ALL SAINTS) and this form should be turned into the parish (and or school) offices for processing. If you’d simply like to mail it in, please send it to the attention of our Finance Manager, All Saints Church.
Matching Gifts Brochure
OTHER WAYS TO GIVE
For each one of us, there are ways that we can give to All Saints that “speak” to our hearts. Gifts that are given in honor of someone special or to a particular program are always welcome and seem to mean much more to the families that give them. Writing a check each week, while often the easiest way to give, can feel impersonal and anonymous to the giver. Listed below are various ways of giving to the parish and the life of All Saints that may speak to you…
• United Way: Did you know that your donation to United Way funding may be designated to support to All Saints? Although area United Way Agencies support many social causes that we in the Catholic faith do not champion, many of you may work where there is a United Way drive and your participation is necessary or even required. The United Way form has an area that asks specifically where you would like to direct your funding. Please consider designating All Saints. Include address: 19795 Holyoke Avenue, Lakeville, MN 55044. You can be sure we are using funds in a manner supportive of Catholic values.
• All Saints Scholarship Program (School): Although tuition costs to attend Catholic Schools seem to be expensive, obviously there are many who choose to work it into their budgets year after year. The quality curriculum, nurturing environment and instruction in faith and formation are very important. Even though most of our families are able to pay, All Saints has a policy that allows students who come from families that don’t have extended financial resources to also attend the school. Each year, All Saints Parish basically “picks up the tab” for the shortfalls in tuition income. Currently, there is not any type of fundraising effort that addresses scholarships to the school. Would you like to make it possible for another student to attend grade school at All Saints?
• All Saints Scholarship Program (Religious Education & Formation): There are many religious educational programs at All Saints. Children in Preschool through 12 Grade can enter the All Saints Faith Enrichment Program where caring adults teach and mentor students through lessons concerning the Catholic faith. NO CHILD is turned away from religious education due to lack of financial resources. Can you give to this program and help give continuing religious education to a child?
• Emergency Fund: Yes, you’ve probably seen the envelopes but perhaps wondered exactly what the money is used for. Often over each year, families in the parish experience critical tragedies and trauma in their lives that cause sudden or unexpected financial difficulties. Humbly, they may ask for assistance or the parish is alerted to their needs someone else. In any case, to have funds available to help someone with rent, or groceries or gasoline can make all the difference to a family in need. This is a simple gift to give. Use your monthly envelopes (already provided in your envelope packets) or simply send a letter with the gift to All Saints with a note requesting that your gift be used to help someone in need.
• Practical Use Giving: There are always hidden needs throughout the parish. Your generosity providing donations and service to any of these areas are truly treasures!
o Funds and/or materials to provide books in the library
o Funds for computers and software (call for current needs)
o Funds for or actual office supplies
o Items of food for the Harvest Food Shelf Program (bins located in hall outside Parish offices)
o Participation in the events and activities that call for donated raffle or silent auction items (Hilltop Autumn Fest, Spring Gala, Golf Tournament, etc.)
o Prayer for good stewardship in the use of funding throughout the Parish
o Gifts of treasure can include other assets and valuables.
2011 Pledge Card | 'Financial Stewardship' - 11/10
