Your legacy is timeless. It has the enduring power to bless the ones you care about and grow our Catholic Community for generations to come.
Our parishes are at the center of our personal faith journeys, the faith formation of our children, and the creation of meaningful relationships and community building. Many of us are very dedicated to our parishes; we give our time, talent, and treasure – but what about after we’re gone? How can we leave a lasting mark on our parishes and the other Catholic ministries we care about that will outlive us?
In this feature, we will explore what legacy giving has meant to the donors and recipients of these gifts as well as how you can create FOREVER VALUE for the parish or ministry you love.
What do You Need to Know about Planned Giving?
When many people think about planned giving, they assume that wills and bequests are only for “wealthy” people. This is simply not true! Anyone can leave a meaningful gift to their parish in a simple will. A gift of just a few thousand dollars to a parish’s endowment creates a meaningful and lasting gift for that parish.
Just think: If only 200 people leave their parish endowment a gift of $5,000, that creates a $1,000,000 endowment that will provide for that parish forever! What an incredible legacy!
There are many ways to make legacy gifts. A bequest is a gift of a certain dollar amount, specific asset, or percentage of your estate which is made through your will or trust. A beneficiary designation is made through a simple form. It allows you to designate a Catholic organization as the beneficiary of retirement plans, financial accounts, and life insurance policies. As you can see in the diagram below, you can make gifts directly to a parish or organization, or you can endow your gift.
An endowment is a fund invested for long-term growth which never expires. The principle of the fund is never spent, so the fund will provide grants FOREVER. A generous donor has pledged to give $1 million to our San Jose Diocese parish endowments.
This means if your parish raises $20,000 for your parish endowment, it will be matched with another $20,000! Now is the perfect time to start building a solid foundation for your parish’s future.
For more information and ideas about planning your Catholic legacy, please contact the Catholic Community Foundation by phone at (408) 995-5219, by email at firstname.lastname@example.org or visit cfoscclegacy.org.