Corporate Giving, Estate Planning & Stewardship

Corporate giving?

One of the simplest ways to maximize your impact is through a matching gift. Many employers have matching gift programs that match — or even double or triple — charitable contributions made by their employees. 

Please talk to your employers and business associates about Holy Trinity Church. They need not be Orthodox or even Christian, but they can be encouraged to make a corporate matching donation to our church. In this way, they too can become a part of the lasting impact on our Albanian Orthodox community. Many are the future events and initiatives where we will need their support.

Our goal is to be for others the Church that says, “Taste and See that the Lord is Good.” No contribution is too small, and corporate gifts will be publicly acknowledged on our parish website. Donations may be sent in the post or made online.

When you make an online donation, let us know whether your employer offers this benefit. 

What is a Bequest?

A bequest is a financial term describing the act of giving assets such as stocks, bonds, jewelry, and cash, to organizations, through the provisions of a will or an estate plan. Bequests can be made to the Albanian Diocese-Ecumenical Patriarchate.

Key Takeaways

• • • A bequest is the act of shifting assets to individuals or organizations, through the provisions of a will or an estate plan.
    • The IRS has an estate and gift tax exemption of $11.7 million as of 2021 ($12.06 million for 2022).
    • People can give gifts while avoiding taxes by using the Crummey power, which lets a person receive a gift that is not eligible for a gift-tax exclusion and change it into a gift that is eligible for the exclusion.

Understanding Bequests

As of 2021, the Internal Revenue Service (IRS) has an estate and gift tax exemption of $11.7 million per individual ($12.06 million for 2022). The annual gift exclusion amount for 2021 is $15,000 ($16,000 for 2022).

This essentially means that an individual may leave $11.7 million to their heirs and pay no federal estate or gift tax as of 2021.

Gift givers can also avoid taxes by exercising their Crummey power, a technique that enables a person to receive a gift that is not eligible for a gift-tax exclusion and change it into a gift that is eligible.

Charitable gifts after death--also known as legacy gifts, also have the power to reduce estate taxes. Not surprisingly, such bequests can be important sources of fundraising for the Diocese as a nonprofit organization. When the bequest is intended for a specific purpose, it is called an endowment.

Please feel free to copy and paste the appropriate bequest language below for use in your will.

 

Specific Bequest

I give and devise to Albanian Diocese-Ecumenical Patriarchate, a not-for-profit corporation organized under the laws of the Commonwealth of Massachusetts and located at 245 D Street, South Boston, MA 02127-0003, [Select one of the following clauses,] the sum of _______________, [or] the following property:________________, [Select one of the following clauses,] to be used for the benefit of [name of specific program, etc.] for the following purpose:____________________________. [or] for unrestricted use.

Residual Bequest

I give and devise, all (or ____%) of the residue of my estate, to Albanian Diocese-Ecumenical Patriarchate, a not-for-profit corporation organized under the laws of the Commonwealth of Massachusetts and located at 245 D Street, South Boston, MA 02127-0003, [Select one of the following clauses] to be used for the benefit of the [name of specific program, etc.] for the following purpose:____________________________. [or] to be used to further the Diocese's purposes as the Directors’ discretion may deem appropriate.

 

Statement of Bequest Intention

Once you’ve decided to add the Diocese to your will with a charitable bequest, please let us know! You can use the form below.  This is not a legal document, but merely a Statement of Intent.  For any gifts more complex that a simple bequest, we recommend you work with a professional adviser and/or the Diocese to determine the best financial strategy.

I/we have provided a gift for Albanian Diocese-Ecumenical Patriarchate, a not-for-profit corporation organized under the laws of the Commonwealth of Massachusetts and located at 245 D Street, South Boston, MA 02127-0003, as set forth in my/our will, revocable trust, retirement plan or other estate plan. The estimated value of this gift is $____________________. I/we understand this estimate does not constitute a legally binding agreement. __ My/our gift is unrestricted. __ My/our gift is designated for: ______________________________ For your records, enclosed is the relevant portion of my/our estate plan that pertains to this gift (optional).   Signature: ________________________________ Date: _____________ Printed Name(s): _____________________________________________ Address: ___________________________________________________ City, State, Zip: ______________________________________________   __ I/we grant Albanian Diocese-Ecumenical Patriarchate permission to recognize this gift publicly. __ I/we choose not to be publicly recognized for this gift.

 

Please return to:

Father Paul Zuniga, Priest-in-Charge
Albanian Diocese-Ecumenical Patriarchate
P. O. Box 224 - 245 D Street, South Boston, MA 02127-0003
fatherpaul@holytrinityalbanianorthodoxchurch.org
617-415-3733