GIVING FOR THE FUTURE THROUGH THE ENDOWMENT FUND
Thank you for visiting the church’s Endowment Fund page. Our church endowment fund will provide financial stability for the Church of the Holy Spirit for many years into the future based on the generous giving from both church members and friends. You may designate a gift to the endowment fund at any time and in any amount. You may gift at any time by adding “Endowment Fund” as a designation on your check and marking “Endowment Fund” on the envelope, or send it to us online per the instructions below.
You may also use any of the planned gifts described below to benefit the fund. Gifts of appreciated assets may give both the donor and the church a tax advantage. (This is for educational purpose only. Please consult your professional advisor for tax and legal advice.) We hope that these options offer you the information you are seeking. We welcome your inquiries and suggestions, please click here for a reply by a licensed member of the Endowment Committee.
If you use on-line banking to pay any of your bills, you can set up Church of the Holy Spirit as a payee and send your endowment gifts directly to the Church. To set up COHS as a payee in your system, make the checks payable to Church of the Holy Spirit, and note “Endowment Fund on memo line. Use P.O. Box 575, Harleysville, PA 19438 for the address, and 215-234-8020 for the phone.
Gifts of Appreciated Assets
By gifting stocks, bonds or mutual funds that have increased in value from the date of purchase, you can benefit by receiving a charitable income tax deduction for the full fair market value of those assets on the date of the transfer and avoid capital gains that might be due were you to sell the assets prior to gifting.
Gifting in this manner is usually handled between brokers unless you have paper stock certificates. If your securities are kept in “street name” within your investment account, you can initiate a transfer of specific shares by contacting your investment manager and asking for the proper form to transfer these assets “in kind” (without selling them first). Please call the church office at 215-234-8020 and ask for the Chair of the Endowment Committee to get the brokerage numbers needed for that form prior to returning it to your investment manager with your signature. Transfers of securities in this manner are safe and tax-advantaged.
There are many ways in which to make a “planned gift.”
1. The most popular planned gift is a gift through the will or by “bequest.” To add COHS to your will, please contact your attorney to add language such as this:
- I give 25% (your choice of percentage) of the residue of my estate to the Church of the Holy Spirit, P.O. Box 575, Harleysville, PA 19438. Or,
- I give $______ from my estate to the Church of the Holy Spirit, P.O. Box 575, Harleysville, PA 19438
2. Using a Donor Advised Fund
Since COHS is a 501(c)3 IRS approved charity, if you are the owner of a Donor Advised Fund, you may request that your investment advisor make a gift on a one-time or recurring basis to the Church of the Holy Spirit from your account.
3. Charitable Gift Annuities, Charitable Remainder Trusts, or Charitable Lead Trusts
“Split gifts” of this nature allow both the donor and the church to benefit from your generous gift. Regular retirement income for life is one of the advantages of establishing a charitable gift annuity or a charitable remainder trust. Charitable lead trusts are also a source of giving while providing estate tax benefits to you and your heirs. Please refer to the “Contact Us” section below for more information about these types of gifts.
4. IRA Charitable Rollover
The IRA Charitable Rollover has been allowed since Hurricane Katrina. Every two years Congress determines whether this tax-advantaged gifting plan will be renewed. Please check with your tax or investment advisor to see if this benefit is still in effect. By using the IRA Charitable Rollover, an individual who is 70 ½ or older, is allowed to gift any amount less than or equal to $100,000 directly from their IRA to COHS. Please refer to the “Contact Us” section for the latest update.
5. Gift of Life Insurance
A life insurance policy can be gifted to COHS in two different ways. You may continue to own the policy, pay the premiums and change the beneficiary designation to COHS. This enables you to receive an estate tax deduction. Alternately, you may assign or gift the policy to COHS now. This will give a current charitable income tax deduction for an amount determined by the life insurance company. COHS prefers policies that are fully paid up, however this can be discussed on a case-by-case basis.
Please email Vince Czepukaitis, chair of the committee, or complete this form to ask for a personal call or email response to your question from a licensed member of our Endowment Committee, or to request that a brochure on a specific fund be mailed to you.
To contact us in writing, our address is:
Church of the Holy Spirit
Endowment Fund Chair
P. O. Box 575
Harleysville, PA 19438