Planned gifts are deferred contributions which you can make through your will, retirement plan, trust, or other life-income plan, to name but a few options. They all offer attractive tax benefits, some of which can be immediate, particularly when you choose to fund your gift with appreciated securities, as you will reduce or eliminate capital gains tax.
Most important, planned gifts are added to the Foundation’s endowment, ensuring that the programming quality and facilities for our ministries will continue for years to come.
A popular way to make a planned gift to the Diocesan Foundation is by a bequest in your will or trust. Estate gifts demonstrate your support for Diocesan ministries such as Camp Weed, one of the university chapels, Cursillo, etc., but do not require you to part with needed assets during your lifetime. You may eliminate or reduce state or federal estate taxes.
A bequest can be made in one of the following ways:
- Specific Bequest: Name The Diocese of Florida Foundation, Inc. as a beneficiary of your estate for a specified dollar amount.
- Residuary Bequest: Once all estate obligations have been satisfied, i.e., taxes, debts, expenses, as well as other specific bequests, some percentage of what remains is given to The Diocese of Florida Foundation.
- Contingent Bequest: This type of bequest is conditioned on the occurrence of an event, i.e., one or more of your beneficiaries predecease you, in which case, The Diocese of Florida Foundation becomes the beneficiary (of a Specific Bequest or a Residuary Bequest).
For many individuals, most of our accumulated wealth may be in some form of retirement plan - an employer’s pension or profit-sharing plan, an IRA, or a Keogh plan are the most common. A gift through a retirement plan is the most tax-wise gift you can make, as these are the most heavily taxed assets at death because they are subject to both income and estate taxes. You may choose to name The Diocese of Florida Foundation, Inc. as beneficiary for all or part of your retirement account, leaving less heavily taxed assets to children or other heirs.
By designating The Diocese of Florida Foundation a beneficiary of your retirement plan, you are entitled to become a member of The 1838 Society.
Life-income gifts offer you a stream of income for your life, and a family member or friend if you choose, in exchange for making an irrevocable gift. Your gift is invested and you, or the person you name, receive an income for life, and then the gift principal transfers to The Diocese of Florida Foundation to be used as you have designated. Charitable remainder trusts and gifts to are popular life-income gift options.
A life-income gift offers reduced income taxes, if you use appreciated securities to fund your gift, as well as a possible estate tax reduction.
We would be pleased to speak with you about a life-income arrangement that would best fit your personal and philanthropic goals, without obligation.
By arranging a life-income gift for the benefit of The Diocese of Florida Foundation, you are entitled to become a member of The 1838 Society.
Charitable Lead Trusts
A charitable lead trust is an extremely tax-efficient way of ensuring that assets are passed to heirs while at the same time, making a significant contribution to The Diocese of Florida Foundation. You as the donor, designates a trust term of years, whereby a stream of income funds the program(s) you are interested in supporting at a Diocesan ministry, then at the end of that term, the principal goes to family members or friends that you have named.
A charitable lead trust enables you to make a significant deferred gift to heirs at a very low gift tax rate. It also reduces your taxable estate.
There are several types of lead trusts you might consider, and you should consult with your professional advisors to see if this type of gift makes sense for you.
By arranging a charitable lead trust for the benefit of The Diocese of Florida Foundation, you are entitled to become a member of the The 1838 Society.
Gifts of Real Estate
A gift of a personal residence or a vacation home, particularly if highly appreciated, can be a very beneficial way for you to make a significant gift to The Diocese of Florida Foundation, while retaining the right to live in the home for the rest of your life.
If the gifted property is highly appreciated, there is potential for a sizeable charitable deduction and the avoidance of capital gains tax.
There are other types of real estate The Diocese of Florida Foundation accepts as gifts, such as undeveloped land, farmland, and rental property. Each has its own tax advantages and you should consult your professional advisors about making a gift of this type.
We welcome the opportunity to speak with you about the potential for a gift of real estate.
By making a gift of real estate for the benefit of The Diocese of Florida Foundation, you are entitled to become a member of The 1838 Society.
The key attributes of unspecified and other forms of endowment are permanence, in the form of resources secured and stewarded for the perpetual benefit of Diocesan ministries; predictability, that is, the one financial resource in the annual budgeting exercise that can be known in advance of the conduct of the program; and either flexibility or certainty. Flexibility is gained to the degree that resources are not dedicated to a specific, narrowly defined application and, thus, they recognize and enable essential creativity. Certainty is attained in the case of intentionally specific applications of endowments (for facilities or scholarships, for example) to an area deemed a permanent commitment.
There could be no clearer or more affirming signal of your commitment to our Diocesan ministries than with a gift of unspecified endowment. Supporting unspecified endowment recognizes that every aspect of our Diocesan ministries must be tended to, that the ministries we leave behind for the generations that follow must be one that celebrates all the ways we affirm the living of lives that contribute to society's well-being. It is hard to imagine how the country and the world will change in the next fifty or one-hundred years. Our Diocese will need to adapt to those changes if it is to continue to contribute to the Gospel ministry. The one resource that will best allow us to do so is unspecified endowment.
It is rare that in the course of our everyday actions we have the unique opportunity to so directly shape the life of a young person and to help propel his or her future. And yet, that is precisely what a scholarship gift does.
The students who are enrolled in our summer camp provide the energy and vibrancy Camp Weed welcomes and celebrates each summer. Philanthropy makes possible the continued flow of fresh talent and creative vigor that is at the heart of the Camp Weed experience. A planned gift to the Bullock Scholarship Fund provides support for needy students to attend summer camp.
Currently, approximately 17% of the students enrolled at Camp Weed summer camp will receive financial aid with the average scholarship award covering 33% of the overall cost to attend. The cost for a week of summer camp is approximately $535.00. It is an ongoing challenge to ensure that all students—regardless of their economic means—have the opportunity to grow in their discipleship at Camp Weed’s summer camp.
The Diocese of Florida Foundation provides recognition opportunities for restricted gifts that create endowments or term funds for Diocesan ministries. Recognition is associated with endowed funds as long as the endowments exist, and with term funds until they are completely expended. Named gifts may be used to recognize the donor, memorialize a loved one, or honor a friend, while supporting a worthy purpose of your choice – whether for scholarships to youth, for the lecture platform, in support of the grounds including buildings and gardens or other programs.
The Diocese of Florida Foundation welcomes gifts for Diocesan ministries that celebrate relationships and our connections with others. Gifts commemorating special occasions such as birthdays, holidays, anniversaries and weddings are deeply appreciated. Remembering someone who loved Camp Weed, for example, can also be done meaningfully and in a way that is appropriate to the person to whom you wish to pay tribute.
If you would like to honor or recognize a friend or family member, there are numerous ways to do so. A popular means of celebrating the life of another is to make a gift to the Procession—Unified In Mission campaign. Establishing an endowed scholarship, lectureship, chaplaincy, or other endowment opportunity offers a thoughtful way to remember a loved one perpetuity. Gift recognition of physical plant facilities or property designations must be discussed with either the Executive Director of the Diocesan Foundation and approved by the Bishop of Florida.
The Diocese of Florida Foundation is delighted to engage with community partners to make possible maintaining the standard of excellence for programming for selected Diocesan ministries. Without the philanthropic assistance provided by corporate sponsorships, these selected ministries would be unable to offer the artistic, environmental and spiritual programming that so enriches the quality of life in our Diocese and beyond.
Every effort is made to tailor sponsorships so they meet the specific desires of community partners. By offering diverse forms of promotion—which vary according to the desired level of visibility and a partner’s general needs or expectations—there is an intrinsic flexibility with sponsorship opportunities. Examples include sponsoring a Bishop’s Institute for Ministry and Leadership lecture, or workshop, an artistic performance, a fundraising event for a Diocesan ministry, etc.