Types of Legacy Gifts

The following chart offers an explanation of the gifts that can be made to the St. Noel Endowment Fund and how they will benefit both you and St. Noel.

Type Benefits to the Donor Benefits to St. Noel Tax Benefits for Donor Benefits to the Endowment Fund
Bequest by Will Knowledge that the gift has been prearranged Knowing that the gift can be invested will help the church in perpetuity Federal and State Estate tax deduction for the amount bequeathed to St. Noel The gift will be added to the St. Noel Endowment
Gift Annuity You or someone of your choosing will receive fixed payments for life Assets not used to pay the annuity income to the donor, benefit St. Noel A portion of the gift is tax free and there are possible income and estate tax deductions A significant gift comes to St. Noel upon the death of the participant
Insurance Policy An unneeded policy can be given to St. Noel The donor need not make additional premium payments The value of the policy is tax deductible St. Noel takes ownership of the policy, and upon the death of the insured, the value will be added to the endowment
Charitable Remainder Trust Variable or fixed income for life or deferred income Upon the death of the donor or last surviving income beneficiary, the remaining assets benefit St. Noel or specific program Income tax charitable deduction for the part of the assets placed in trust that are expected to go to St. Noel. A substantial gift comes to St. Noel when the trust dissolves. Knowing that the gift is prearranged helps in advanced planning.
Retirement Plan or IRA Control of the assets remains with donor throughout their lifetime The growth in the fund increases the value of the gift to St. Noel Estate and Income Tax deduction may cover a substantial portion of the gift The resulting significant gift can benefit both the church and the heirs.

Tools for Making a Gift to the St. Noel Endowment Fund

Bequest Language or Codicil

Here is a sample bequest provision which can be used by your attorney in drafting your will:

“I/we give to St. Noel Endowment Fund, Inc., 35200 Chardon Road, Willoughby Hills, Ohio 44094, Tax Identification number 34-1835485, the sum of $______ or _____% of my residuary estate.

 

How to make a gift of Appreciated Stocks or Bonds

  1. Your broker may use the following DTC numbers to transfer stocks to the St. Noel Endowment Fund Inc. z99042196
  2. You may print out the attached STOCK POWER form and complete it and forward it to your broker.
  3. Should you hold the actual hard-copy stock certificates you must complete separate form which can be obtained from the Parish office and send it along with the completed Stock Power form (listed above) in SEPARATE ENVELOPES (Gift Form with the Stock Certificates (Stock Power form under separate cover).
  4. NOTE: Do Not Sell APPRECIATED stock(s) and then give the proceeds to St. Noel – YOU WILL LOSE THE TAX DEDUCTIBILITY OF THE GIFT

However, if the stock has DECLINED in value, sell it, claim the capital loss, and donate the proceeds to St. Noel. Please check with your financial planner before making any changes or sales.

 


For more information on making a gift to the St. Noel Endowment Fund contact the Parish office at (440) 946-0887 and ask to have someone representing the Endowment contact you.

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