St. Michael's Foundation
"Dedicated to the preservation and continuation of St. Michael's Catholic Church."
"Therefore, encourage one another and build one another up, as indeed you do."
-1 Thessalonians 5:11
The Foundation was a dream in the mid 1980's but became a reality when we incorporated as a charitable 501 (c) 3 organization in 1992. Our board consists of 6 lay people nominated by St. Michael's Church Parish Council and approved by the existing SMF board. The Pastor of St. Michael's Church is an automatic voting board member. All board members volunteer their expertise and time with no financial compensation. Our funds are perpetually invested with ONLY the interest earned from investments given quarterly to St. Michael's Church to put to the best used.
This is our mission. Our goal is to raise a fund that will assure that St. Michael's Church will be available for generations to come. Not to take the place of parishioners annual giving to St. Michael's Church, but to significantly supplement those funds with a stable, continued gift from our members' investments.
There are several ways to become a member: memorials, cash gifts, stocks, bonds, insurance policies, land or property, 100 From 200 Club.
Planned giving is thoughtfully selecting from a series of gift-giving opportunities. The easiest planned gift is an outright gift.
- Cash Gift: It is the simplest way to give. You can deduct the gift for income tax purposes in the year it's made. Your cash gifts are deductible up to 50% of your adjusted gross income for the taxable year. Any remaining deductions can be carried forward and used in the next five years.
- Securities (stocks, bonds, mutual funds): You can contribute long-term appreciated securities and receive a deduction based on the full present fair market value. You avoid the capital gains tax you would have owed had you sold the assets.
- Real Estate: An excellent charitable gift can be real estate. In addition to receiving an income tax deduction for the full market value, you avoid capital gains tax on the appreciation. Besides your personal residence, other choices would be second homes, vacation property, commercial property and undeveloped land and farms.
- Life Insurance: As a gift, it is an excellent way to give, designating us as the beneficiary.
Charitable Gift Annuity
A Charitable gift annuity is a wonderful way to give to St. Michael's Endowment Fund and receive an annuity payment for the rest of your life.
Reasons to set up a charitable gift annuity: *A lifetime annuity income, with a portion tax-free & non-reportable *A guaranteed, fixed annuity payment rate *Your choice of monthly, quarterly, or annual checks immediate income tax benefits *Possible future estate tax benefits *Support your church
Charitable Remainder Trusts are individual trusts funded with cash, securities, real estate or other appreciated property. They distribute either a fixed-dollar amount of income (a charitable remainder annuity trust) or a variable amount (charitable remainder unitrust) for a set term of years, the lifetimes of the income beneficiaries or a combination of the two.
An endowment fund is a "perpetually giving" fund. It is created by charitable donations in the form of cash, stocks, mutual funds, and real estate. Only the earnings can be used. The principal will be endowed forever. The advantages are many and the rewards are endless.
Anyone can contribute gifts of any size to an endowment fund; there are many ways to support it.
- Will Planning - include the fund in your will.
- Life Insurance - name the fund as a beneficiary of any existing or new policy.
- Outright Gifts - memorialize someone through a cash gift.
- Gifts of Property - examples include real estate and investments (stocks & bonds.)
- Your gift may also offer economic advantages such as: charitable income tax deductions; reduction of estate taxes; avoidance of capital gains taxes; or tax deferred retirement income.
St. Michael's has an endowment fund that is managed by the Catholic Development Foundation. Your charitable gift will secure the future of St. Michael's, our home of worship. It is a gift that keeps on giving and will live indefinitely.