There are many ways to show your support and we are thankful for people like you who have embraced our mission and make possible all the good that we do.
Please consider Donating Online as one of the quickest and most effective ways of making a difference. Your generosity is greatly appreciated and impacts so many.
What is a Legacy Gift?
A legacy gift, sometimes called a planned gift, is a way for you to provide lasting and significant financial support to Franciscan ministries, in a manner that does not jeopardize your fiscal responsibility to your family and yourself.
Any gift made to a non-profit charitable organization, like the Franciscan Friars, T.O.R., normally entitles you to a deduction if you itemize your federal and state taxes. Be sure to keep for your records the receipt or acknowledgment letter which documents the gift and its amount.
There are several different ways you can make a legacy gift...
A Bequest In Your Will
This is a very popular way to make a major gift, since it means you will still have the money as long as you live, in case you need it for an emergency. Carefully consider the best way to make a gift in the context of your other bequests.
A bequest may be expressed as a fixed amount, as a percentage of your estate at the time of your death, or as a residual amount to be disbursed after all your other bequests have been covered. You should consult with a financial advisor to decide which of these options is the best for your situation.
Life Insurance and Retirement Assets
If you have a life insurance policy but the beneficiary has pre-deceased you or does not need the money, you can have the Franciscan Friars, T.O.R. designated as the new beneficiary. You can also do this with a retirement account or pension that might have unused funds remaining at the time of your death. As always, make sure that your heirs will be provided for before you make such a change.
Stocks, Bonds, or Securities
You can make a gift of stocks, bonds, or securities that you own. Such a gift will usually reap valuable tax benefits for you. If you make a gift of stocks that are rising in value, you will avoid paying capital gains taxes on them. And if you make a gift of stocks that are losing money, you can at least partially offset your loss because of the charitable tax deduction you’ll receive. Since the Franciscan Friars pay nothing for the stock you donate, any amount we sell it for will be a profit for us and therefore a useful gift.
It’s a good idea to check with us before making a gift of stocks. For a variety of reasons, we may not be able to accept stocks from certain companies.
“Real property” is anything you own apart from money or financial documents that represent money. This can include everything from land and buildings to vehicles, furniture, collectibles, jewelry, or intellectual property like copyrights, trademarks and patents.
If you donate real property to the Franciscan Friars, T.O.R., we might have a direct and immediate use for it. Otherwise we can sell it and use the proceeds for our ministries in order to provide a better life for those in need.
It’s often less burdensome to make a large gift over time, in installments, rather than in a single lump sum. You can make a gift of a fixed amount paid in installments, or simply make regular, reasonable payments on a monthly, quarterly or annual basis for as long as you wish. You can of course stop payments at any time if your financial circumstances change or if you have other, more pressing need for the funds.
Memorial and Honorary Gifts
By making a gift in honor of a person, a group of people or an event, or in memory of a deceased person, you establish a legacy for them as well as yourself. There is no better way to honor someone than making the world a better place in his or her name.
Donor Advised Funds
A Donor Advised Fund is a tax-free account that you set up for the purpose of distributing charitable donations on your recommendation. Setting up a DAF account offers tax advantages in the year the deposit is made. This allows the donor to benefit from tax savings immediately while advising the release of funds as grants to qualified organizations.
Giving with tax advantages is possible by giving directly from your Individual Retirement Account (IRA) if you are aged 70 1/2 or more. you can make Qualified Charitable Donations (QCD) from your IRA to a maximum annual amount of $100,000 per individual. (If you file taxes jointly, the maximum is $200,000)
The Required Minimum Distribution (RMD) can also be directed to a qualified organization to satisfy the distribution mandate while reducing your tax liability.
Before you make a gift…
Please keep in mind the following items:
- Always consult with a trusted professional advisor before making a large financial gift, making or changing your will, or making a gift of stocks, bonds, securities, insurance policies or retirement assets. They will be able to assess whether the gift is feasible for you, what consequences it might have, and what benefits it might have in terms of tax deductions, etc.
- Always consult with your family, your heirs and your executor(s)before changing your will, or making a financial gift that might affect them now or in the future. While a charitable gift is a praiseworthy and welcome thing, it should not come at the expense of those who depend on you for their security.
- Please contact the Franciscan Friars, T.O.R. if you are making a legacy gift to us. That way we can thank you and discuss how best to go about making the transaction. You will be sent a written confirmation of the gift for your tax records. If you don’t receive this or misplace it, please contact us right away so we can send you another copy.
The content on this site is for informational purposes only and is not legal advice, nor is it a substitute for legal advice.
Thank you for considering a legacy gift to the Franciscan Friars, T.O.R. Your generosity will make a lasting difference by ensuring a Franciscan presence in schools, parishes, hospitals, nursing homes, missions, and anywhere God calls us.
Our legal title is:
Franciscan Friars, T.O.R.,
Province of the Most Sacred Heart of Jesus
If you would like more information or would like to discuss these options further, please contact us by calling (814) 419-8880 or by e-mailing us at email@example.com.
Our mailing address is:
Franciscan Friars, T.O.R
Saint Francis Friary-Mount Assisi
P.O. Box 500
Loretto, PA 15940-0500
Like any organization focused on the future, our Province relies on new members for healthy growth. Without able and ambitious young men stepping forward, we would be unable to meet the physical and spiritual needs of future generations.
Today, the challenge is greater than ever to recruit and train faith-filled young men anxious to serve others. Our efforts, too, must be greater than ever. We ask for your assistance in helping young men discern their call and guiding them through the formation process.
For our Students, you can help us provide:
- tuition and books
- time for reflection and spiritual growth
- meals and housing
- proper health care
- internships in Franciscan apostolic works
They have worked 40, 50 or even 60-plus years, and many of them have special needs. As servants of the Church, our Senior Friars rely on the generosity of friends like you to help them meet even the most basic of needs in their retirement years.
I am sure you agree that these selfless followers of Saint Francis deserve the same rewards and simple dignity provided by proper health care, a comfortable place to sleep, and the opportunity to carry on their mission of praying for members of our spiritual family.
For our Seniors, you can help us provide:
- proper health care
- handicapped-accessible facilities
- meals and housing
- opportunities for social interaction
Our Senior Friars have worked very hard to build our Province and to pass on the rich spiritual legacy of Saint Francis to our newest Students, who stand ready to accept the challenges before them. But we need your support to help us continue our ministries. Won't you please consider a gift in support of our worthwhile efforts.
We offer a variety of beautiful Franciscan Spiritual Greeting Cards for many occasions and created exclusively for the Franciscan Friars, T.O.R. We suggest that you make a financial gift to the Franciscan Friars when you use one of these cards.
These special gift items offer you an opportunity to participate in Franciscan spirituality, while supporting our Community and its ministries. All of these items make thoughtful and prayerful gifts...for others, or for yourself. They are blessed by the Franciscan Friars, T.O.R.