Legacy Giving
The Band of Angels
The purpose of the Band of Angels Legacy Society is to recognize those individuals and families who have remembered St. Michael’s Church in their estate plans through a documented planned gift. More so, the Society serves to enable members and friends to witness to the value of our community in their lives and secure its ministries for generations to come.
“St. Michael’s has been our family’s spiritual home for decades. We want it to bless others the same way in the future.”
MM, Parishioner
A planned gift means, simply, to designate resources in your estate for St Michael's. You need not consider yourself wealthy to make a planned gift. All gifts work to sustain and grow our parish. Every penny counts and will be received with gratitude and celebration. Your planned gift will not prevent you from passing on your resources to family and loved ones.
When making a planned gift to St. Michael's, you may determine its use. Many direct their gifts to the Endowmennt Fund, which provides a source of income for the needs of the church that will continue to grow as interest accrues over time. Others give to the Capital Fund, which provides support for renovations.
St Michael’s primary sources of funding come from annual pledge income and non-pledged gifts (such as Christmas or Easter offerings). All gifts help, but well-funded endowments are essential to a stable and vital future for our ministries, as the investment income will continue to supplement the operating budget and new initiatives.
Forms of Planned Giving
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Bequest in a Will: A bequest is the easiest and most common way of making a planned gift. You can designate a specific amount of money, a percentage of your estate, or a specific asset. St. Michael’s could also be named as a contingent beneficiary.
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Major Gifts (while you are alive): A donor may choose to make a significant gift during their lifetime, often in the form of cash, appreciated securities, or other assets. These gifts can support a specific ministry, capital campaign, or endowment. Giving during your lifetime allows you to see the impact of your generosity and may provide immediate tax benefits.
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Life Income Gifts: Gifts such as a charitable gift annuity, a charitable remainder trust, or a pooled income fund provide you and/or your designated beneficiary income for life. Upon your passing, the church receives the gift. Life income gifts generally reduce or eliminate certain taxes and guarantee an income for life.
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Life Insurance: Life insurance can be used to make a sizeable gift. For example, you can purchase a new policy and make the church the owner and beneficiary of the policy. You can make the church the owner of a policy you no longer need. Or you can name the church a contingent beneficiary of an existing policy. Your life insurance could “endow” an annual pledge to St. Michael’s.
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A Life Estate: You can deed your home, vacation property, or condo to the church and retain the right to live there or receive income as long as you or your beneficiaries live. A life estate gift reduces capital gains, inheritance and estate taxes, and offers an income tax deduction as well.
Important Note: Check with your financial and legal advisors before making gifts to any organization.
