{"id":15831,"date":"2022-10-15T08:18:54","date_gmt":"2022-10-15T12:18:54","guid":{"rendered":"https:\/\/www.fccej.org\/v5\/?page_id=15831"},"modified":"2023-11-17T05:33:58","modified_gmt":"2023-11-17T10:33:58","slug":"planned-giving","status":"publish","type":"page","link":"https:\/\/www.fccej.org\/v5\/giving\/planned-giving\/","title":{"rendered":"Planned Giving"},"content":{"rendered":"

Planned Giving<\/h3>
<\/div><\/div><\/div><\/div>\n

Legacy Circle<\/span><\/h3>\n

Legacy Circle members are FCCEJ members and friends who have made special plans to support the First Congregational Church by donating a portion of their accumulated assets or estate through a planned gift. <\/span><\/span><\/p>\n

When you designate a planned gift for First Congregational Church of Essex Junction, please notify the church so that we may keep accurate records and include you in our <\/span>Legacy Circle.<\/span><\/span><\/p>\n<\/div><\/section><\/div>\n

Giving that Grows<\/h2>\n

As a member of this beloved community, your planned gift can ensure that your passion for ministry and mission continues beyond your time here.<\/span><\/em>\u00a0\u00a0<\/span><\/h3>\n

When you make a planned gift to First Congregational Church of Essex Junction, you are making a faithful investment in our church\u2019s future. Today, we are all the beneficiaries of the generous gifts of those who came before us, going all the way back to our founding more than 150 years ago.\u00a0<\/span><\/p>\n

Planned gifts are different from stewardship campaign gifts, which provide vital funding for day-to-day operations and reflect your commitment to the church\u2019s mission and programs each year. Planned gifts are typically made from your accumulated assets or through your estate plan, supporting FCCEJ\u2019s long-term endowment fund and leaving a legacy for future generations.<\/span><\/p>\n

There are many ways to make a planned gift and it is not necessary to be wealthy to do so. Below are some examples. If you would like to learn more about how you can leave a legacy, please <\/span>contact Rev. Mark Mendes at mmendes@fccej.org<\/a> or the Financial Secretary at finances@fccej.org<\/a>.<\/span><\/p>\n

Bequest Gift<\/a><\/p>\n

Beneficiary Designation (retirement fund or insurance policy)<\/a><\/p>\n

Charitable Gift Annuity<\/a><\/p>\n

Gift of Stock<\/a><\/p>\n

FAQ<\/a><\/p>\n<\/div><\/section><\/div>\n

Bequest Gift<\/h4>\n

A charitable bequest is a simple, flexible and versatile way to make a planned gift. By including FCCEJ in your will or living trust, you help ensure that First Congregational Church can continue its mission long into the future. Bequest gifts can be for an exact amount or a percentage of an estate. Using a percentage of your estate can be one way to help both your family and the church.\u00a0\u00a0<\/span><\/p>\n

There are many ways to make an estate gift so it is wise to contact your attorney about this process. When you include First Congregational Church in your estate plans, be sure to include our legal name and our Federal Tax ID number.\u00a0<\/span><\/p>\n

Sample Bequest Language:<\/h6>\n

\u201cI give, bequeath, and devise First Congregational Church located at 1 Church Street, Essex Junction, VT 05452, whose Federal Tax ID is 03-0212216.”<\/em> (here follows the dollar amount or percentage of the gift, or an accurate description of the securities, insurance policy, retirement funds, or the amount or percentage of the residual estate, or the real estate or other assets given.)<\/span><\/p>\n

Next Step<\/span><\/strong>:<\/span><\/strong> Contact your attorney to update your will or trust. Contact FCCEJ to let us know of your intentions so that we can include you in our Legacy Circle.<\/span><\/p>\n

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.<\/span><\/i><\/p>\n<\/div><\/section><\/div>\n

<\/div><\/div><\/div><\/div>\n

Beneficiary Designation<\/h4>\n

By naming First Congregational Church as a full or partial beneficiary of your life insurance policy or a retirement fund, you help ensure that FCCEJ has the resources needed to serve future generations. This is an easy and flexible way to give. You are not locked into the choices you make today because you can always review and adjust your beneficiary designations at any time.<\/span><\/p>\n

When you name First Congregational Church as a full or partial beneficiary, please use our full name: First Congregational Church of Essex Junction. If needed, our Tax ID number is 03-0212216.\u00a0\u00a0<\/span><\/p>\n

Next Step:<\/span><\/strong> Contact your insurance agent and\/or retirement account representative to administer the appropriate paperwork. Contact FCCEJ to let us know of your intention.<\/span><\/p>\n

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.<\/span><\/em><\/p>\n<\/div><\/section><\/div>\n

Charitable Gift Annuity<\/h4>\n

If you wish to make a planned gift to First Congregational Church now while still receiving an income during your lifetime, a Charitable Gift Annuity (CGA) may be an effective tool to consider. When you establish a CGA, you give cash or appreciated stock to a charity, and in return, you receive a fixed income during your lifetime. You are able to take an immediate income tax deduction for the entirety of your gift.<\/span><\/p>\n

The Vermont Community Foundation is available to assist anyone who might wish to establish a CGA to benefit First Congregational Church. This is a free service for donors. The minimum amount to establish a Charitable Gift Annuity is $25,000.<\/span><\/p>\n

Next step:<\/span><\/strong> If you are interested in creating a Charitable Gift Annuity or learning more about them, please <\/span>contact the Church Office at welcome@fccej.org <\/a><\/span>and we will connect you with the Vermont Community Foundation.\u00a0<\/span><\/p>\n

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.<\/span><\/i><\/p>\n<\/div><\/section><\/div>\n

Gift of Stock<\/h4>\n

A gift of appreciated securities may offer special tax advantages to you while supporting the mission of First Congregational Church. When you donate securities, you receive the same tax savings that you would if you wrote a check, but with the added benefit of eliminating capital gains taxes on the transfer.<\/span><\/p>\n

Making a gift of securities is as easy as instructing your broker to transfer shares to the First Congregational Church account. If you wish to make your gift this way, please send the information below to your broker. **<\/strong><\/span>Be sure to call FCCEJ at 802-878-5745 or email the Financial Secretary (finances@fccej.org<\/a>) <\/em><\/span>to let us know about the transfer before it happens.<\/em><\/span>**<\/strong><\/p>\n

Next steps:<\/span><\/strong> <\/i><\/p>\n

    \n
  1. Notify FCCEJ – contact our Financial Secretary (finances@fccej.org) or call the church office to notify the church about your plans. Please indicate what it is for (Endowment, annual pledge, capital campaign, memorial fund or general gift).<\/em><\/li>\n
  2. After you have notified FCCEJ, shares may be transferred to:<\/li>\n<\/ol>\n

    Purshe Kaplan Sterling Investments<\/span>\u00a0<\/span><\/p>\n

    80 State St.<\/span><\/p>\n

    Albany, NY 12207\u00a0<\/span><\/p>\n

    Clearing Agent:\u00a0 National Financial Services (NFS)<\/span><\/p>\n

    DTC #:\u00a0 0226<\/span><\/p>\n

    Assignee Account Registration: First Congregational Church\u00a0<\/span><\/p>\n

    Assignee Account #: F5V-000011 <\/span><\/p>\n

    \n

    The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.<\/span><\/em><\/p>\n<\/div><\/section><\/div>\n

    Frequently Asked Questions<\/h4>\n
    What is a planned gift?<\/h6>\n

    Planned gifts are charitable contributions that are planned for in the present but not fully received by the beneficiary until a later date. Planned gifts are often made through wills and trusts. Other types of planned gifts may pay you income during your lifetime, or help you reduce income and estate taxes. Your planned gift to First Congregational Church is a lasting statement of your support for the mission and ministry of our church, your good stewardship of your assets, and your faith in God that continues beyond your lifetime.<\/span><\/p>\n

    Do I need a lawyer to make a planned gift?<\/h6>\n

    We always suggest that you seek appropriate financial or legal counsel before making any type of planned giving gift to FCCEJ. In many cases, such as adding FCCEJ as a beneficiary designation, you can work directly with your retirement or insurance plan administrator.\u00a0 The<\/span> Vermont Community Foundation can help establish a Charitable Gift Annuity.<\/span><\/p>\n

    What is a life income gift?<\/h6>\n

    A life income gift allows the donor to set aside funds that produce an income to the donor while providing for the church\u2019s future. The proceeds of this gift go to the church upon the donor\u2019s death but while alive, the donor receives income on an ongoing basis.\u00a0 One such vehicle is a Charitable Gift Annuity (CGA). The Vermont Community Foundation will assist anyone who wishes to establish a CGA benefiting the church, with no charge to the donor. The minimum amount to establish a Charitable Gift Annuity is $25,000.<\/span><\/p>\n

    Where do planned gifts go?<\/h6>\n

    Planned gifts will be designated to the FCCEJ Endowment Fund to provide sustaining support for the church. Every planned gift will help the Endowment Fund continue to grow over time. As the Endowment Fund grows and realizes more investment gains each year, the amount of revenue available for the church to spend grows as well.<\/span><\/p>\n

    Why is the Endowment important?<\/h6>\n

    The goal of an endowment is to provide sustaining support to the church into the future. Unlike annual stewardship campaign gifts or pledges which are used for the current year\u2019s operating costs; an endowment provides funds so that the church can be supported for many years to come. Endowments are designed to keep the principal amount intact while using the investment income and gains to support the church\u2019s mission.<\/span><\/p>\n

    How does the Endowment generate funds to support the mission of the church?<\/h6>\n

    The FCCEJ Finance Committee oversees the Endowment Fund in accordance with the Church Endowment Policy. There is a calculation that determines the size of the endowment distribution each year, with safeguards in place to ensure that we are protecting principal and only spending a portion of the income gains. Endowment funds may be used to support special projects in three key areas: missions and outreach, education and youth, and capital needs. Church Council determines how the funds are used every year.\u00a0Past projects include support for the Jamaica mission trips, youth retreats, classroom furnishings, seed money for the community concert series, elevator modernization, and more.\u00a0<\/span><\/p>\n

    What is a Donor Advised Fund?<\/h6>\n

    A Donor Advised Fund (DAF) is a philanthropic vehicle established at a public charity such as the Vermont Community Foundation. It allows donors to make a charitable contribution, receive an immediate tax benefit and then recommend grants from the fund over time to FCCEJ and\/or other nonprofit organizations you care about. This may be an excellent vehicle for your charitable giving.<\/span><\/p>\n

    The Vermont Community Foundation has philanthropic advisors available to help you create a Donor Advised Fund (DAF). Typically, donors use stock or cash to open a DAF. Once your fund is established, you recommend grants out of the DAF to the church or other organizations you choose. If you would like to learn more, please contact the church office and we will connect you to the Vermont Community Foundation.<\/span><\/p>\n

    How can I help the church and take care of my family at the same time?<\/h6>\n

    We realize that it is important to take care of loved ones while also remembering our church. By giving a portion or a percentage of an asset, you can help both your family and the church.<\/span><\/p>\n

    Why is it important to have a will?<\/h6>\n

    Every adult should have an estate plan regardless of his or her economic circumstances. Without an estate plan, our assets are allocated by formula without any consideration of our heirs or wishes. Estate planning is the continuation of our good stewardship at the time of our death and beyond.<\/span><\/p>\n

    Do some planned gifts offer better tax advantages?<\/h6>\n

    Yes, some gifts such as Charitable Gift Annuities, through a retirement plan and donation of appreciated securities can offer tax advantages. It is always best to talk directly to your accountant or financial advisor about tax advantages.<\/span><\/p>\n

    Do I have to be wealthy to make a planned gift?<\/h6>\n

    No. The most important thing is your intention. Each gift, no matter the size, makes a difference and is deeply appreciated.<\/span><\/p>\n

    Can I change my mind if I make a planned gift?<\/h6>\n

    It depends on the particular type of planned gift. Bequests and beneficiary designations are examples of revocable gifts that can be changed during your lifetime. A Charitable Gift Annuity is irrevocable; once opened, it cannot be closed although it is possible to change the beneficiary of the CGA. Your attorney or financial advisor can help you decide what tool is best for you.<\/span><\/p>\n

    What is the Legacy Circle?<\/h6>\n

    The Legacy Circle is a group of FCCEJ members and friends who have designated a planned gift for FCCEJ. People may choose to be anonymous members. When you designate a planned gift for First Congregational Church of Essex Junction, please notify the Financial Secretary so that we may keep accurate records and add you to the Legacy Circle.<\/span><\/p>\n

    Do I need to use special wording if I leave a gift in my will?<\/h6>\n

    Yes, the proper wording is important so that your gift is made to the correct church.\u00a0 To make a gift to First Congregational Church of Essex Junction, please use the following wording:<\/span><\/p>\n

    Sample Bequest Language:<\/h6>\n
    \u201cI give, bequeath, and devise First Congregational Church located at 1 Church Street, Essex Junction, VT 05452, whose Federal Tax ID is <\/span><\/i>03-0212216<\/span>.” <\/span><\/i>(here follows the dollar amount or percentage of the gift, or an accurate description of the securities, insurance policy, retirement funds, or the amount or percentage of the residual estate, or the real estate or other assets given.)<\/span><\/i><\/h6>\n<\/div><\/section><\/div>
    \t\t

    \nNotice of Intent to Make a Planned Gift (Form)<\/p>\n<\/div>