727 Harvard Ave, Swarthmore, PA 19081
Planned Giving encompasses a full menu of estate planning scenarios, but in its most basic form it is either a bequest or a life income gift.
A bequest is a gift by will of a percentage or specific dollar amount of the donor's estate to a charitable organization such as Swarthmore Presbyterian Church. An addendum to your existing will, or a provision in a newly created one, stipulating a specific dollar amount or percentage of your estate, is all that is required. Lawyers are very experienced at including these provisions.
A Life Income Gift
A life income gift is created when a donor contributes assets (cash, long term appreciated securities, real estate) to the Presbyterian Foundation to fund a charitable trust or an annuity. The donor and, possibly, a second beneficiary, receive income from the Foundation, as Trustee of their gift, for their lifetime(s). At the death of the income recipient(s), remaining principal is distributed to SPC for the purpose defined when the gift was made. Importantly, the donor may take a charitable income tax deduction in the year of the gift based on the age of the beneficiary(ies), the amount given and the specific planned gift.
Historically, planned gifts have made it possible for our church to pay for some extraordinary projects, such as the renovation of Loeffler Chapel, the purchase of the SPC bus, and the restoration of the stained glass windows in the sanctuary. If you have an interest in creating a bequest or a life income gift, please contact the Finance Office at 610.543.4712 or firstname.lastname@example.org.
Bequests and Planned Giving