Planned gifts

MAKE A PHILANTHROPIC STATEMENT – LEAVE YOUR LEGACY WITH US

Your investment in us now will help provide for our tomorrow and we count on it. In addition to making an annual gift, here are more ways you can assist us. Many of them may have tax benefits for you.

Please remember that some of these gifts take time to arrange, so plan ahead. We urge all donors to consult your financial and legal advisors for a full discussion of implications of legacy gifts.

Wills – Do you want to secure a legacy with the Sisters of Providence? Your legal will is the foundation of all estate planning and it allows you to determine who will benefit from your estate.

You can secure a legacy with the Sisters of Providence with no immediate out-of-pocket gift by designating the Sisters of Providence through an unrestricted bequest in your will. You can designate your entire estate, a percentage of it or a specific dollar amount. In addition to the personal satisfaction of helping provide for our tomorrow with a bequest, there may be tax benefits that may be realized as well.

Walter’s Story 

Read about Water, who was a humble, modest and kind-hearted man for his whole life, how he lived a life leaving a legacy with the Sisters of Providence.

Charitable gift annuity – Would you like to give a gift that gives back to you for the rest of your life? A charitable gift annuity can do just that … with income tax benefits!

Here’s an example:

Age Cash Donated Payout Rate Total Annual Income Tax Free Portion Ordinary Income Allowable Charitable Deduction
65 $10,000 4.7% $470 $354 $116 $2,955.60

 

Remember that cash isn’t the only option to fund an annuity. One way to substantially reduce capital gain tax and spread it over your life expectancy is to transfer appreciated securities to the Sisters of Providence in exchange for a gift annuity. You may be entitled to a generous charitable tax deduction in the year of the transfer and the annuity would provide income to you quarterly.

Cash alternative gifts – You can donate to the Sisters of Providence through the gift of life insurance, tax-deferred  retirement accounts (IRAs, 401k, 403b), donor advised funds, trusts, real estate and prized collections.

Life Insurance

Giving a paid-up policy you no longer need or making the Sisters of Providence your designated beneficiary on an existing life insurance policy are wonderful ways of giving without an out-of-pocket expense. You can also utilize a premium-paying insurance policy to make your annual gift by designating the Sisters of Providence as the owner and irrevocable beneficiary of the policy. You would then send your gift equal to the insurance premium to the Sisters of Providence to use as your tax-deductible gift.

Tax-deferred Retirement Accounts

Beginning at age 70 ½ you are required to make a MRD (minimum required distribution) from your account. The IRS can penalize you if you don’t take your full MRD. Many of our donors are now designating their MRD directly to the Sisters of Providence. Please consider using yours as a gift to us. Or maybe you are considering the conversion of your traditional IRA to a Roth IRA? Let us help alleviate some of the tax burden you many incur. The conversion of your traditional IRA to a Roth IRA will likely propel you into the highest tax bracket of your lifetime. If you determine that a Roth IRA conversion is the right move for you, strategic charitable giving to the Sisters of Providence may offset some of the additional taxes you will incur. You may be able to maximize your tax savings by accelerating your giving and making as many gifts as possible in the year you make the contribution.

Donor-Advised Funds

Donor-advised funds are the fastest growing charitable giving vehicle in the United States. Some of our donors have designated gifts to the Sisters of Providence through a donor advised fund at their local community fund or through a family fund. Your funds are pooled for investment purposes there and you can select what charity to support, like the Sisters of Providence.

Trusts

There are many different types of trusts available to meet your needs (charitable remainder unitrust; charitable remainder annuity trust; charitable lead trust, etc.). The Sisters of Providence do not administer any type of trust but naming us as a beneficiary in your trust is a great way to plan for our future. Please consult your professional legal/tax advisor to ensure you get the right trust to meet your philanthropic desires and tax implications.

Real Estate and Collections

If you are considering giving the Sisters of Providence a parcel or real estate, or you prized collection (coin, art, etc.) please contact us prior to doing so. We know it is your desire to give us a valuable gift but often times we incur more expense than the value of that gift. For that reason, all gifts of real estate or collections are subject to approval of the General Council of the Sisters of Providence prior to acceptance.

Would you like us to help you make a good gift better? We can explain the various options and provide helpful tailor-made instructions to fit your financial needs and objectives.

Here’s some information you many need:
Legal Name: Sisters of Providence of Saint Mary-of-the-Woods, Indiana
EIN: 35-0868174

Let us send you a free brochure or contact us for more information.

Connie Gualano, Planned Giving Manager
Mission Advancement office
1 Sisters of Providence
Saint Mary-of-the-Woods, IN 47876
Phone:  (812) 535-2811
Fax:      (812) 535-1009
E-mail:  CGualano@spsmw.org

The Sisters of Providence keep all benefactors, constituents, alumnae/i and companions in daily prayer.

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