Planned Gifts—Good for Givers, Good for Glenmary

Planned gifts are essential to Glenmary—both for meeting annual ministry budgets and for long-term mission planning.

Planned gifts also benefit those that give them. Besides the satisfaction of helping others both spiritually and materially, planned gifts reap benefits such as income for life or tax advantages. But it’s always important to consult your tax or financial advisor to determine the best type of planned gifts for your situation.

Here is a brief description of the kind of planned gifts made by Glenmary supporters:

Bequest: A gift to Glenmary of assets or property as defined in a will or trust arrangement. (A new will is not required; a codicil may be added to an existing will.)

Charitable gift annuity: An irrevocable gift providing income to the annuitant (and another recipient, if desired) at a fixed rate for life.

Charitable trust: A future gift placed in trust on which Glenmary pays the donor income earned by the trust each quarter for life. The principal comes to Glenmary at donor’s death.

Pooled-income fund: An investment trust made up of the “pooled” contributions of many donors, which provides income at a variable rate for life and a charitable tax deduction at the time the gift is made.

Life insurance: Naming Glenmary as beneficiary of a new or existing policy or transferring ownership of a policy on which the donor continues to pay the premiums. (Either term or non-term policies can become planned gifts.)

Retirement plans: Naming Glenmary as beneficiary avoids income and estate taxes.

For more information about planned giving, contact Planned Giving Officer Susan Lambert at 800-935-0975, or slambert@glenmary.org.