Planned Giving
at St. Paul's Church
Leave a Legacy
Planned Giving
In 2023, St. Paul’s, Summerville established an Endowment Fund for the purpose of receiving planned gifts. By planned gifts, we mean bequests in wills, life income gifts, gifts of real estate, and life insurance as examples. The fund is intended to provide for long-term investments, the income from which will be used for things that would normally not be able to be provided through the operating budget. Examples would be capital building improvements, or new ministries. A well-managed endowment might preclude the necessity of future building capital campaigns or provide funds for some new ministry we haven’t even dreamed of yet!
Planned Giving Initiative provides the Parish with long term stability. Reasons to join our Legacy Society include:
- Legacy giving is not complicated: Legacy giving is the most inclusive strategy for giving to St. Paul’s Church. If requested, the Endowment Committee will conduct legacy giving conversations and provide more information on how to establish your legacy at St. Paul’s Church.
- Your ministry in fulfilling the faith: Make legacy giving your ministry to seed the future for those who will follow. Every member of St. Paul’s Church is encouraged to give by bequest. Your gift is an acknowledgment that financial stewardship is a significant part of spiritual life.
- Peace of mind: Your peace of mind in knowing your personal property and accumulated wealth will be shared exactly as you intend.
- Celebration of family’s history: Many families want to document and celebrate their family’s history with the church. A legacy gift is a timeless way for families to document their history with the church.
- Legacy Giving is a healing ministry: Many church members feel burdened by decisions about the distribution of their assets at their death. They may be inspired by the opportunity to express their values by making a significant bequest to the church.
The fund is managed by an Endowment Committee which answers directly to and receives oversight by the Vestry. Several documents have been approved to provide the structure of the Endowment. They include the following:
- Indenture [↓]
- Investment Policy Statement [↓]
- Spending Policy [↓]
- Administrative Fee Policy [↓]
- Gift Acceptance Policy [↓]
It is recommended that if you are considering a gift to the Endowment Fund, that you contact your personal estate planning attorney and your tax advisor. The committee or the church may not offer legal advice. However, if you have general questions about the fund, please contact the Rector, or the Chair of the Endowment Committee, Nancy Armstrong (narmstrong1@protonmail.com).
All checks must be made payable to and all legal documents naming the Endowment Fund must be titled as “St. Paul’s Church, Summerville Endowment Fund”. Otherwise, gifts will automatically be placed in the general operating fund. The Federal ID# for the church and fund is 57-0329785 and the legal name of the church is St. Paul’s Church, Summerville.”
Legacy Society
All donors of planned gifts are invited to join the St. Paul’s Summerville Legacy Society. We would like to know that you have made a planned gift so that you may be invited to special gatherings, receive recognition (only if you so choose), and in general be celebrated and honored.
FAQs
How do I make a planned gift?
The first step is to contact your estate planning professional and let them know you wish to make a gift. There are numerous ways to leave a bequest, so professional advice is always recommended. Here are a few options:
- In your will. You may donate a percentage of your estate, a specific dollar amount, or as the balance or residue of your estate.
- Beneficiary Designation Gifts. You may simply name the church endowment fund as a beneficiary of a life insurance policy, retirement fund, investment fund, or bank account.
- In a Trust. There are several types of trusts and your estate planner can help you determine the type that is best for you.
- Gifts made while still living. Other than the usual cash gifts or stock transfers one option might be a Qualified Charitable Distribution, a direct transfer of funds from an IRA to a qualified charity. This allows individuals aged 70 1/2 or older to fulfill their RMD (Required Minimum Distribution) while donating to a charity, with the RMD (or any amount from an IRA up to $108,000 per person per year) with the amount being excluded from their taxable income (not a deduction).
Always consult your tax advisor before making any decisions
May I make a gift of stock?
Yes! Stock gifts are always welcome—the transfer details are:
Name of Endowment Account: St. Paul’s Church, Summerville
Account #: 83139832
Brokerage Account at: Vanguard
DTC#: 0062
May I designate my gift for a specific purpose?
Not at this time. The fund is new, so until it is more firmly established, all gifts for now will be included in
the general endowment fund. Later, as more funds are accumulated, it is likely that the church will offer
a choice of funds to which you may designate your gift.
May my gift be anonymous?
Absolutely! If you specify that you wish to remain anonymous, we will gladly honor that.
Do I have to make a gift to the Endowment Fund ONLY through my will?
You may make a gift to the Endowment Fund at any time. You do not have to wait to make it in your
will.