The Congregation of the Holy Spirit

PROVINCE OF THE UNITED STATES

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Planned Giving

- It Starts With a Will
  
  A will, or last will and testament, is a legal document you use to decide what should happen to your property after you pass away. But it’s about more than just your stuff. Your will also allows you to choose a trusted person to care for your minor children if something were to happen to you. You can also use your will to gift family heirlooms or treasured possessions to specific people, or to donate to a charity you care about.
  Making a will lets you take control of your legacy. It also provides protection and peace of mind for the people you care about the most. So how do you create your will?
  Free Will: freewill.com/learn-how-to-make-a-will
- What to Give
  
  Stocks & Bonds
  Donating appreciated securities, including stocks or bonds, is an easy and tax-effective way for you to make a gift to the U.S. Province. You can assign your gift either to the province for care of the elderly and infirmed religious or for the work of the Spiritan Office for Mission Advancement (SOMA).
  
  Real Estate
  Donating appreciated securities, including stocks or bonds, is an easy and tax-effective way for you to make a gift to the U.S. Province.
  
  Retirement Assets
  Donating part or all of your unused retirement assets such as a gift from your IRA, 401(k), 403(b), pension or other tax-deferred plan is an excellent way to make a gift to the U.S. Province.
  
  Cash
  A gift of cash is a simple and easy way for you to make a gift.
  
  Insurance
  A gift of your life insurance policy is an excellent way to make a gift to charity. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy. For example, you may have purchased a policy to provide for minor children and they are now financially independent adults.
- Bequests
  
  One way for you to support the U.S. Province of the Congregation of the Holy Spirit is to make a bequest. A bequest is a gift made to charity in your will or trust. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that by making a bequest you are able to leave a lasting legacy.
  Bequest Benefits
  There are no limitations on bequest gifts. Bequests may be made for a general or specific purpose. All bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes resulting in a larger inheritance for your heirs.
  Types of Bequests
  There are a number of ways you can make a bequest to the U.S. Province of the Congregation of the Holy Spirit. You can leave what is called a specific bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to the U.S. Province of the Congregation of the Holy Spirit. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to the U.S. Province of the Congregation of the Holy Spirit.
  Another kind of bequest is called a residual bequest. A residual bequest is a bequest that is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving of a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to the U.S. Province of the Congregation of the Holy Spirit.
  Bequest Language / Advice of Your Attorney
  In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to the U.S. Province of the Congregation of the Holy Spirit in your estate plan. We have provided some basic bequest language to assist you and your attorney.
  
  Outright Bequest
  If you are considering making an outright bequest to the U.S. Province of the Congregation of the Holy Spirit, we recommend the following language:
  
  I hereby give, devise and bequeath $ AMOUNT to the U.S. Province of the Congregation of the Holy Spirit or for the Spiritan Office for Mission Advancement, a non-profit organization located at 1700 West Alabama St., Houston, TX 77098, Federal Tax ID #27-0213864 for U.S. Spiritans general use and purposes.
  
  Specific Personal Property
  I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to the U.S. Province of the Congregation of the Holy Spirit or for the Spiritan Office for Mission Advancement, a non-profit organization located at 6230 Brush Run Rd. Bethel Park, PA 15102, Federal Tax ID #27-0213864, for U.S. Spiritans general use and purposes.
  
  Specific Real Estate
  I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to the U.S. Province of the Congregation of the Holy Spirit, a non-profit organization located at 6230 Brush Run Rd. Bethel Park, PA 15102, Federal Tax ID #27-0213864 for U.S. Spiritans general use and purposes.
  
  Restricted
  If you are considering a bequest but would like to ensure that your bequest will be used only for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give that will ensure your charitable objectives can be met. We will also work with you and your attorney to craft language to accomplish your objectives.
  In cases where donors are making a restricted bequest, we recommend that your attorney include the following provision to give the U.S. Spiritans flexibility should it no longer be possible for the U.S. Province to use your gift as you originally intended:
  If, in the judgment of the Director of the Spiritan Office for Mission Advancement and his advisors of the U.S. Province of the Congregation of the Holy Spirit, it shall become impossible for the U.S. Province of the Congregation of the Holy Spirit to use this bequest to accomplish the specific purposes of this bequest, the U.S. Province of the Congregation of the Holy Spirit may use the income and principal of this gift for such purpose or purposes as the Provincial determines is most closely related to the restricted purpose of my bequest.
- IRA Distributions
  
  If you are 72 and have an eligible IRA account, you can make a qualified charitable contribution (QCD) directly from your IRA account to the U.S Province up to $100,000. The QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, if certain rules are met.
  In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.
  Also, QCDs don't require that you itemize, which due to the recent tax law changes, means you may decide to take advantage of the higher standard deduction, but still use a QCD for charitable giving
- IRS Tips on Charitable Giving
  In Internal Revenue regulation-2017-191, the IRS offers seven charitable giving tips to taxpayers. The IRS stated, “Giving money or goods to a tax-exempt charity before December 31 can usually be deducted on that year’s federal income tax return.” These seven tips may help to maximize benefits from charitable gifts.
  
  Qualified Charities – Only gifts to qualified charities are deductible. The Select Check Tool on IRS.gov is useful for finding a qualified charity. Religious organizations with regular worship services are generally qualified, even though they are not listed on the IRS database.
  Itemized Deductions – Charitable gifts are deductible if you itemize on IRS Form 1040 Schedule A. Most taxpayers will itemize if their deductions exceed the standard deduction. Cash gifts up to 50% of your income are generally deductible. If you give over this amount, the excess gifts may be carried forward and deducted during the next five years.
  Cash, Checks, Credit Cards, Payroll – You need a bank record or written statement from a charity for cash or similar gifts in order to claim a charitable deduction. For a payroll deduction, you should save your pay stub or W-2 statement.
  Property Gifts – Clothing and household goods must be in good or better condition to qualify for a deduction. If you give clothing or household goods over $500 in value, you may obtain a qualified appraisal and attach it to your return. Gifts of $250 or more in value require a written acknowledgment from the charity with a description of the gifted property. There are special rules for vehicles and other property gifts. Visit IRS.gov for additional details.
  Donor Benefits – Some gifts involve a transfer back to the donor of goods or services by the charity. The charitable acknowledgement of gifts with a transfer back to the donor must show the value of the benefits transferred. For example, a gift by a donor for the annual charity dinner event will lead to a deduction that is reduced by the value of the dinner.
  Good Records – You should keep good records of all charitable gifts so that you can prepare your IRS Form 1040. There must be documentation for property gifts. Some property gifts with value over $5,000 will require a qualified appraisal. See IRS.gov for further information.
- Contact Us
  
  Please contact us at 713-522-2882, if you have any questions about how to make a bequest to the U.S. Spiritans or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.

Planned Giving

IRS Tips on Charitable Giving