No matter what stage of life you're at, it's never too soon to reflect upon the kind of legacy you would like to leave for the future. Whether you're a young family just starting out, or you're in the midst of your retirement years, the Foundation can help you find a meaningful way to benefit others through your philanthropy.
Ways for Individuals to Give
A gift through the Catholic Community Foundation occurs when a donor transfers ownership of something with monetary value either now or at the time of death. A donor may direct the benefits of a gift to one or more beneficiaries: for example, a parish, school, program, cause or group. Some donors prefer that their gifts be added to the church and community fund at the Catholic Foundation, thereby providing support for the greatest needs within the Diocese of Phoenix year after year.
The Foundation offers an extensive array of methods of giving to meet its donors’ charitable and financial needs. Below is a list of some of the most commonly used giving options:
1. Benefiting Others through Your Will
Your will can be a creative vehicle through which to make thoughtful gifts. After providing for the needs of loved ones, you may choose one of several ways to benefit charitable organizations and causes that are important to you. You can revise or amend your will to make a gift of a dollar amount, a specific property, a percentage of your estate, or what is left after your loved ones have been taken care of. You may also wish to name one or more charitable recipients in case one or more heirs do not survive you.
2. Personal Family Fund (aka Donor Advised Fund, Field-of-Interest Fund)
A donor may establish a fund to provide for a variety of favorite charities or types of charitable works. Any person may create a Personal Family Fund by contributing either current gifts and/or future gifts through wills, trusts and bequests. Deposits to the fund are tax deductible.
3. Charitable Gift Annuity
Today’s economic climate is causing confusion and concern for many of us. One of the bright spots in the midst of this confusion is the Charitable Gift Annuity. When you give money or stock for a Charitable Gift Annuity with the Catholic Community Foundation, we give you regular payments for the rest of your life. Too good to be true? Seems like it, but true nonetheless.
4. A Large Gift at Low Cost through Life Insurance
Life insurance needs change as life progresses. Children become self-sufficient, and investments may provide unexpected income and security. As a result, not all life insurance coverage may be needed for the reason it was initially purchased. One of the simplest ways to make a significant gift in the future is to name a charitable beneficiary to receive all or a portion of the proceeds of a policy no longer needed for its original purpose. Another way is to purchase a new policy, naming a favorite cause as beneficiary or co-beneficiary to create a gift that may ultimately be much larger than its cost.
If you would like to leave a legacy of your faith, but you have questions on how to meet your specific goals, call the Catholic Community Foundation. We will personalize an example for your situation or provide you with other planning ideas that meet your objectives.
More information on these topics and other ways to give are available from the Foundation in print or CD. To request information, e-mail Tom Thieken, Director of Planned Giving at tthieken@ccfphx.org or call 602-354-2401.
