STATEMENT OF PURPOSE

The Planned Giving and Endowment Fund of the Church of Saint Michael the Archangel, Inc." was established by a resolution of the Vestry on the 14th day of December, 1999 to enable the Parish to fulfill its mission more completely.

The purpose of the endowment fund is to develop and enhance Parish properties and ministries beyond what is possible through annual operating contributions.  It is the intent of the Vestry and the board of trustees of the Fund hat expenditures will be for purposes other than general operating expenses.

WHY PLANNED GIVING

Historically, our parish has been long on talent part of stewardship, but short on treasure.  The willingness to work and weather the financial storms together has added immeasurably to the closeness of our parish family.  Since the parish is a relatively new one by many Episcopal Church standards, there is no "old money" to fund large endowments, and the brunt of financial support has come from young middle class families.  With strong leadership in recent years, we are enjoying the most stable financial condition in our history.  As we have exceeded a half century of life, with our current stability, we are able to look to the future and the possibilities of expanding our mission through a Planned Giving Program.  This fact, and good spiritual leadership over th years, has brought parishioners together in working for a common goal of spreading God's kingdom from this "holy hill in southeast Lexington".

What is important here is there is no "old money" to fund large endowments.  Thus it is the hope that Planned Giving will help St. Michael's grow in the years ahead.  While Planned Giving offers no immediate big money, it will allow us to look to the future to build a better St. Michael's for work in the local and worldwide community and to carry on God's work.

PLANNED GIVING GOALS

1. To strengthen St. Michael's service.
2. To educate parishioners about gift planning with its place and benefits for their lives and the life of the Church.
3. To encourage the clergy, leaders and members of the congregation to make planned gifts and to facilitate the making of gifts.
4. To systematically increase the financial resources available to St. Michael's for the work of God in the world.

HOW TO GIVE

PLANNED GIVING refers to making a gift of assets that normally entails more planning and consideration than merely writing a check out of current income.  Such a gift can be in any form, for any purpose, and given either currently or on a deferred basis.  The donor's charitable intentions are carried out while at the time supporting the donor's long term financial interests.

BASIC WAYS OF MAKING A PLANNED GIFT

GIFT OF PROPERTY

• Allowing assets such as securities, objects of value, and real estate to be transferred to St. Michael's, often with significant tax advantages: A life estate allows a donor to give a home to the charity while retaining the use of it for life.

BEQUEST

• Providing for loved ones, St. Michael's, and others through a provision in the donor's will

LIFE INSURANCE

• Making a large gift with very little cost by:
  • giving an existing policy to St. Michael's
  • purchasing a new policy and giving it to St. Michael's
  • designating St. Michael's as beneficiary of a policy

CHARITABLE REMAINDER TRUST

• Allowing a donor to receive income for life while making a major gift to St. Michael's
  • through a unitrust where tje income may vary annually
  • through an annuity trust where the income never changes
• For smaller gifts a POLLED INCOME FUND or GIFT ANNUITY offers similar features and benefits

REVOCABLE LIVING TRUST

• Allows a gift of assets to be made now and retrieve those assets later if it becomes necessary

CHARITABLE LEAD TRUST

• Allowing a donor to give income to St. Michael's for a period of years but have the assets later returned to a family member or other beneficiary

MEMORIALIZE A LOVED ONE

• All of the mechanisms mentioned above can include a loving tribute to a friend or loved one in whose name the gift is made.

  NOTE: For further information about planned giving you may contact St. Michael's Planned Giving Committee; however, for the advice and assistance about specific gifts, the services of an attorney or other professional advisor should be obtained.