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Endowment Fund for Christ the king parish
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- Endowment Program
- Pledge Forms
- FAQs
- Did You Know?
- CFGPitt
- Legacy Giving
- Endowment vs. Parish Appeal
- FreeWill
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1. What is an endowment and why do we need one?Endowment funds are designed to provide long-term sustainability. Through careful investing and consistent growth, our fund will provides a buffer against inflation and a permanent source of financial support for our ministry. Each year, we will use just a portion of our fund's earnings. This fund, handled by the Catholic Foundation for Greater Pittsburgh (CFGPitt).2. What is Legacy Giving?Legacy giving is the establishment of a gift as part of an overall financial or estate plan. Gifts can be distributed immediately or upon the donor's death and are funded with assets rather than current income.3. Who is Catholic Foundation for Greater Pittsburgh (CFGPitt)?CFGPitt is an independent, nonprofit 501(c)3 foundation that supports Catholic causes throughout our area through the establishment of endowed funds, providing consistent annual support to parish-specific and Foundation-wide causes. CFGPitt is committed to growing philanthropy according to the teachings of Jesus Christ. CFGPitt promotes charitable giving to sustain the legacy of the Church.4. Benefits of Gift PlanningLegacy giving allows you to convert property you might not consider as potential gifts into contributions, or give substantial gift that costs you nothing during your lifetime (through your will, trust, or beneficiary designation of a life insurance policy or retirement account).5. Is this the same as Parish Appeal?No. Legacy giving is long-term gifts. Parish Appeal is focused on short-term financial donations6. Is this the same as Church Alive?No, legacy giving is different than Church Alive. The funds given remain entirely with the parish and are available for unrestricted use.7. How much do I have to give?You can give any amount.Ask yourself the following:
- Have I revised my estate documents lately?
- Do I want to save on taxes? Your IRA distribution can help.
- Have I outgrown the need for my life insurance policy? Gift it to benefit our ministry. Leaving a gift of life insurance or retirement assets is as simple as changing beneficiaries.
- Am I interested in memorializing a friend or loved one?
- Do I need to increase my retirement income? A Charitable Gift Annuity or Charitable Remainder Trust can help.
- Do I want to perpetuate my family name?
- Am I anticipating a large taxable event?
- Do I want to establish a Catholic legacy?
- Would I like to help sustain our ministry for future generations?
- Am I interested in an assured return for the rest of my life? A Charitable Gift Annuity might be right for you.
- Have I remembered All Saints Parish in my estate plan?
- Do I want to pay it forward and learn how to make a gift that will last for generations?
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Did You Know?
- Anyone-regardless of income or age-can make a legacy gift.
- If you are age 70 ½ or older, you can distribute up to $100,000 tax-free each year from your IRA account to benefit our parish.
- Establishing a Charitable Gift Annuity can secure a fixed income for yourself and benefit the parish.
- You can set up a donor-advised fund (charitable checkbook) to offer immediate tax benefits while simplifying your yearly charitable giving, including your generous gifts to All Saints Parish.
- Legacy gifts may be offset by savings in federal or state taxes.
- Legacy gifts often cost you nothing during your lifetime or come from your low-yielding assets.
- Life insurance coverage that you no longer need can be gifted or designate the fund as beneficiary.
- There is a free, will-writing resource (FreeWill) offered to you by CFGPitt. A no-cost online estate planning tool which allows you to create a legal will in 20 minutes or less.
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Free, Legal Will-Writing Resource for YouMaking a will isn’t expensive. But not having one may cost your family a great deal. We encourage you to protect the people and causes you care about by taking advantage of a free will-writing resource offered to you by the Catholic Foundation for Greater Pittsburgh.
FreeWill is a no-cost online estate planning tool which allows you to create a legal will in 20 minutes or less, giving you an opportunity to plan for your future, provide for those you love and perhaps even express your gratitude to God with a future gift to benefit our parish.
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Questions? Please contact the parish office at 412-963-8885 or the Catholic Foundation at www.cfgpitt.org.
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