ST. MICHAEL’S SOCIETY
Calvary Church, for generations, has been blessed by its members’ tremendous generosity. Those who came before us built a magnificent place to worship, but more importantly their generous estate gifts enable us to provide spiritual nourishment and healing to our members and the wider community. When you include Calvary in your will, whether your gift is $1,000 or $100,000, it will become part of your legacy. Your gift will also help to ensure that Calvary will continue to welcome all in the name of Christ for many years to come.
Anyone who has made a provision of support for Calvary Church as part of their estate plans and has notified Calvary Church of that intention in writing is eligible for membership in the St. Michael’s Society at Calvary
A summary of Planned Giving Opportunities
A moment of thoughtful planning now can provide a lasting legacy for you, your loved ones and future generations.
There are many Planned Giving options available. The following are a number which offer you a range of opportunities to develop a charitable giving strategy that fulfills both your philanthropic goals and provides financial and estate planning benefits for you and your family.
Bequest
The simplest way to support Calvary, and the one that provides the most flexibility for the future of the church, is to leave Calvary funds in your will. You may designate that funds in your will be used for care for the architecture, to fund specific ministries (e.g., music, Christian education, or outreach) or just for the greatest need.
Other Ways to give
Depending on your income needs, tax situation, and other estate plans, you might want to consider another approach to designating funds for Calvary Church.
Charitable Gift Annuities
A donor irrevocably transfers cash, stock or other property to the Pittsburgh Foundation or other agency that can create an annuity – the donor receives the income during his or her lifetime, and Calvary receives the remainder upon the donor’s death.
Charitable Remainder Trust
This is a gift plan that provides income to the donors for their lifetime or a period of years. Assets, usually cash, securities or real estate, are transferred to a trust which pays income to Calvary for the term of the trust. This is an excellent tool to diversify appreciated stock, avoid capital gains, receive favorable tax benefits and support Calvary.
Charitable Lead Trust
This is a gift which provides fixed or variable current income for Calvary through the Pittsburgh Foundation for the life of the donor or for a term of years, after which the remaining principal reverts to the donors or donor’s heirs. This may provide donors with both transfer tax and income tax deductions.
Life Insurance
There are many ways that you can contribute life insurance policy proceeds to Calvary. Popular methods are to list Calvary as beneficiary of an existing policy, take out a new policy to benefit Calvary, or transfer a paid up policy.
Retirement Fund Assets
You can designate Calvary to receive all or a portion of your qualified retirement assets which include your pension, 401(k) or 403(b) by naming Calvary in a beneficiary designation form. Qualified retirement fund assets are taxed (as much as 70%) on whatever funds are left when you pass away.
Endow Your Pledge
Some parishioners are leaving funds to sustain their contributions to the church’s annual budget. To fund an annual $1,000 pledge in perpetuity, for example, would require an estate gift of $20,000 (under current endowment draw of 5%). Funding all or part of your pledge is a wonderful way to ensure Calvary’s future.
For more information about Planned Giving Opportunities and The St. Michael’s Society, please contact Deborah Kelly, Planned Giving Chair, at dc1kelly@gmail.com or 412.688.9299
