Epiphany Development Office
Opportunities for Financial Giving
Epiphany Cathedral Parish
Did you know that giving to Epiphany Cathedral Parish can reduce your income taxes? And that some gifts save more tax than others?
Through planned giving you can make a significant gift while also creating a legacy for yourself and your loved ones.
Planned gifts are usually the largest of all contributions and provide lifelong payments or tax savings.
Please consider the following as you plan your giving to Epiphany Cathedral Parish and School this year and be sure to discuss it with your financial advisor. If you would like us to arrange for a complimentary meeting with a local financial advisor to discuss options, please let us know.
If you have questions regarding planned giving or the Legacy Society, contact the Epiphany Development Office, Chris Coviello, (941) 615-0284 or Legacy@EpiphanyCathedral.org
If you have a Will and/or a trust currently, or have plans to create one, we hope you might consider including a gift to Epiphany Cathedral Parish and/or School. You can be the “Heart and Hands of Christ” by leaving a legacy gift, ensuring that future generations will benefit from the many ministries of Epiphany Cathedral Parish and School. Click here for more information.
Giving via Check or Cash
Our most popular donation method! Checks can be made payable to Epiphany Cathedral Parish and / or School and returned in the weekend collection or mailed to the parish / school office. These contributions can benefit a particular ministry such as youth, outreach, religious education, school tuition angel, school lunch angel, etc.
Checking/Savings Account or Credit/Debit Card
A growing number of people no longer write checks for recurring bills and charitable donations. Many Epiphany Cathedral parishioners have scheduled automatic weekly, monthly, quarterly, semi-annual or annual donations from their checking, savings, credit or debit card, rather than write a check each week. It’s easier than you think and we can help you set it up at the development office! Just give us a call! To donate online, click here.
Do you own appreciated stock? Each year, Epiphany Cathedral Parish and School receives stock gifts anywhere from $500 to over $10,000, from parishioners aware that these gifts typically save the most income taxes. Transferring stock is usually done electronically and is easy to do. Please contact the development office for stock transfer instructions.
Do you have an Individual Retirement Account (IRA)? If you only take IRA withdrawals because it’s required by law, you may want to consider donating the amount withdrawn, or a portion of it, to Epiphany Cathedral Parish and / or School. Please contact us if you have questions or would like IRA transfer instructions.
Bequests, Wills and Trusts
Those wishing to leave a legacy to Epiphany Cathedral Parish and / or School in their will or trust are growing in number, and we are very grateful. This can be detailed to benefit the ministry of your choice. If you have questions about leaving the parish and /or school in your will or trust, please contact the Development Office. Through a Charitable Lead Trust Epiphany Cathedral Parish and / or School is designated as beneficiary of current income generated from a donor’s assets held in trust for a designated number of years, after which time the assets return to the donor or their designee. The donor receives immediate and long-term tax advantages for this gift. Through a Charitable Remainder Trust the donor receives income for life, tax deduction and the possible reduction of capital gains taxes. The remainder of the trust at the time of death is designated to Epiphany Cathedral Parish and / or School.
Charitable Gift Annuity
A simple contract between a donor and Epiphany Cathedral Parish or School that provides the donor with above market fixed quarterly payments for life, and considerable immediate and ongoing tax deductions. The parish and / or school receives a remainder gift upon the annuitant’s death. The minimum Charitable Gift Annuity is $10,000. Gift Annuity Example (actual profile will be done upon consultation): 73 year old donates $10,000. The Gift Annuity Rate of 6.0% provides a charitable deduction of $3,960 with a total annual payment of $600 ($438 or 73% being tax-free).
An insurance policy is purchased by a donor who names Epiphany Cathedral Parish and / or School as the beneficiary. The beneficiary receives the insurance payment upon the donor’s death. Insurance policies that are fully paid can also be donated and provide a current tax deduction. In addition, Life Insurance Trusts can be established to provide gifts to Epiphany Cathedral Parish and / or School. These trusts move assets outside of the estate and can increase the amount given to heirs by reducing estate taxes.
Real Estate / Property
Interested individuals can make a deferred gift of their home/property to Epiphany Cathedral Parish and / or school. This gift option allows donors to stay in their homes for the rest of their lives and receive significant income tax deductions that can be used for up to 6 years. You may also contribute immediate gifts of property or land and avoid capital gains tax, as well as receive favorable tax deductions.
Did you know you can transfer almost any financial account – savings, checking, CD, brokerage or credit union accounts to Epiphany Cathedral Parish and / or School without changing your will? You can also gift any fully paid life insurance policy directly to our parish and receive a tax deduction, or name Epiphany Cathedral Parish and / or School as the death beneficiary, but keep the lifetime ownership rights.
The gifts that result from any of these opportunities, or any direct gifts can be used to start an Endowment, which can extend your gift over time and maximize its impact. Many scholarship endowments currently exist for the school.