Create a Legacy of Love
Many of our friends have told us that they wish they could support Franciscan ministries with a larger and more impactful gift, but they are rightly concerned about the effect such a gift might have on their own financial security and that of their family.
On this page we present several options by which you can make a significant gift without taking a large financial hit. In fact, some of these options provide the benefit of tax savings or a reliable source of income for the donor.
Making a Bequest Through Your Will
After providing for your loved ones, you may wish to leave a lasting and impactful bequest to the Franciscan Friars, T.O.R. You can leave a fixed dollar amount, a percentage of your estate, or leave the remainder after bequests to other heirs are fulfilled. Bequests are an important and greatly valued source of funds for us, with the advantage that the donor has the money available for his or her lifetime if it is needed.
Provide a Legacy of Faith. We partnered with My Catholic Will to allow you to easily pass on your Catholic faith through writing your Will. You can create your will in as little as 15 minutes for FREE and have the opportunity to provide a Legacy Gift to the Franciscan Friars, T.O.R.(Province of the Most Sacred Heart of Jesus, Third Order Regular of Saint Francis). By using the referral code franciscanstor, you can write your legal will for FREE and pass on your faith in an incredible way. Please visit https://mycatholicwill.com/franciscanstor to start your Will.
Life Insurance
You may name a us as a beneficiary of a life insurance policy that is no longer needed—for example, if the original beneficiary has pre-deceased you. This simply requires adding “The Franciscan Friars, T.O.R., Province of the Most Sacred Heart of Jesus” as a beneficiary.
Stocks, Bonds or Mutual Funds
Transferring stocks or mutual funds that have been held for more than one year can be beneficial to you and the friars. The gift is tax deductible at the full market value, and the capital gains taxes are avoided. The simple process of transferring stock, or selling your appreciated or depreciated securities and contributing the after-tax proceeds, may automatically increase your gift and your tax deduction.
Education Endowment
An education endowment is a fund that we maintain in order to pay for the education and formation of our novices, postulants and friars. The principal amount is invested, and provides a steady amount of interest to our Province.
You can set up your own endowment with a gift of $50,000 or more, and dedicate it in honor or in memory of any person or thing you wish. You will receive regular reports on how your endowment is growing and how its funds are being used.
As an alternative to setting up your own endowment, you may gift any amount of money to be added to the principal of an existing endowment, thus increasing the amount of interest we are able to draw from it.
Making a Gift from an Individual Retirement Account
If you are at least 70½ years old and have an individual retirement account (IRA), you can make a tax-deferred charitable gift of up to $100,000 from that account to a charitable organization ($200,000 for a married couple who file jointly). This amount counts toward the Required Minimum Distribution that you are required to take from your account.
If you and your family don’t need all the money from the IRA, this can be a good option since you won’t have to pay taxes on the amount you donate.
Donor-Advised Funds (DAF)
A donor-advised fund is a charitable investment account for the sole purpose of supporting charitable organizations you care about. You can put money into the account, which is managed by a licensed financial organization, and recommend that donations be made from it to specific recipients. The managing company will then make the donation if the group you specify is qualified by the IRS and known to be legitimate. (This is to protect you from falling victim to swindlers.)
When you contribute cash, securities or other assets to a donor-advised fund at a public charity, you are usually eligible to take an immediate tax deduction. Then those funds can be invested for tax-free growth.
The Franciscan Friars, T.O.R., Province of the Most Sacred Heart of Jesus is an IRS-qualified public charity to receive grants, or gifts, through donor-advised funds.
Arranging an Automatic Recurring Donation
A simple but effective way to support the friars is by joining our Monthly Giving Circle. Members pledge a regular monthly amount which is automatically charged to the credit or debit card you specify. This recurring gift can be changed
or cancelled at any time by contacting us.
These modest monthly gifts can add up, over the course of a year, into a truly impactful gift that may be larger than what you would be comfortable giving in a lump sum. All of these monthly gifts are tax deductible. Please visit this page to arrange a recurring monthly gift to the Franciscan Friars, T.O.R.
Please understand that the information presented here should not be used as a substitute for legal or financial advice. Please consult with your attorney, stockbroker, or financial advisor before making any large donations or monetary commitments.
However you choose to remember us, know that we appreciate your support, and we are honored that you entrust your gifts to us. With your help, we will continue the ministry that began with Saint Francis, with the same passion and commitment he had for God and His people.
Our Legal Title is:
Province of the Most Sacred Heart of Jesus,
Franciscan Friars, T.O.R.
To discuss any of these options, please contact:
Lisa Weakland
Director of Outreach and Development
Phone: 814-419-8880
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
