The New Way of Giving and Receiving
On behalf of our Benedictine Community, we invite you to participate in "Annuities for Saint Joseph." This program presents to our committed donors an opportunity for long-term financial planning while also helping with the essential operating needs of Saint Joseph Abbey and Seminary College. These needs, as you know, are many and diverse. We hope to engage your support through this proposed leadership giving.
Sincerely in Christ,
In the Peace of Christ,
ANNUITIES FOR SAINT JOSEPH provides an opportunity to enter into a charitable gift annuity program - a way to give to Saint Joseph Abbey and Seminary College ("the Abbey") while still retaining a lifetime interest in the donated assets. A charitable gift annuity is an arrangement by which the donor executes a one-time cash gift (a minimum of $25,000 is our requirement) to the Abbey in exchange for guaranteed payments for his or her life, or for the joint lives of the donor and the donor's spouse. He or she then receives an income tax charitable deduction for the value of the donated assets less the present value of the annuity payments, based on I.R.S. tables. A percentage of each payment to the donor is excludable from income (i.e., tax-free) as a return of principle.
For example, assume a husband and wife, each age 70, transfer $100,000 cash to the Abbey, in exchange for a charitable gift annuity payable until the death of the second of the husband and wife to die. The Abbey will pay the couple $4,600 per year (i.e., at the current rate of 4.6% return). In addition to the annual payment of $4,600 (a portion of which will be received tax-free), the couple will receive an immediate charitable income tax deduction.
Scott Wallace, SJASC Director of Institutional Advancement, will be happy to arrange a meeting, at your convenience, with Abbot Justin and Fr. Gregory Boquet to discuss Annuities for Saint Joseph and our goals for the future sustenance of Saint Joseph Abbey and Seminary College.
Alternatively, if you think you may want to move forward on a charitable gift annuity plan, you may request a draft annuity contract for your unobligated review and consideration. To do so, please contact Scott Wallace at 985-867-2235 or firstname.lastname@example.org.