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Gifting Resources

Examples of gifts to the St. Lorenz Foundation

Gifts to the St. Lorenz Foundation can come in many forms, including cash or stock, bequests, retirement plans and IRA gifts, or life insurance gifts. Below are examples of each of these gifting options.

Gifts of Cash

Martha, a member of the congregation who was greatly loved by many members, was called to glory to be with our Savior. Memorial contributions from the funeral were designated to the Vicar Endowment to support future vicars serving at St. Lorenz.

Gifts of Stock

Several years ago, Fred and Sue bought 50 shares of Star of the West stock for $50 per share, a base investment of $2,500. They want to support the foundation with a gift of approximately $10,000 and consider gifting their Star of the West stock shares. With the current value of the stock at ap proximately $220 per share, the value of the stock gift, which is tax-deductible, would be $ 11,000. By gifting their stock to the foundation, Fred and Sue also avoid a capital gains tax of $1,275, which they would have incurred had they sold the stock themselves and contributed the cash.

Bequest Gifts

Ray is a single man and retired farmer who decided to leave in his will a specific bequest to the
St. Lorenz Foundation of the 80-acre parcel he owns.

Retirement Plans and IRA Gifts

Paula is a businesswoman with an IRA valued at $1 million and personal assets valued at $5 million. She wants to provide 10% of her estate to the foundation and does not want her estate or family to pay any more estate or income tax than necessary. Thus, she designated on an IRA beneficiary designation that 60% of her IRA be paid to the St. Lorenz Foundation. Paula also recently turned 71. Since she is older than 70-1/2, she has the option to make a qualified charitable distribution to the St. Lorenz Foundation from her IRA. She decides to make a qualified charitable distribution of $100,000, the maximum annual amount, which lowers the distributive value of the IRA and also lowers her income tax because she doesn't have to declare the donation amount as income that year.

Life Insurance Gifts

Jim's parents took out a $1,000 whole life policy on him 65 years ago. The dividends have been paying the premiums for several years, and the current cash value of the policy is $9,750. Jim can make a current gift of the policy to the foundation for a special project, or he can change the beneficiary designation on the policy to the St. Lorenz Foundation to be collected at the time of his death.

For more information about making a gift, contact the St. Lorenz Foundation at (989)652-0796 or Click Here to contact us.

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