Planned giving is also referred to as gift planning or legacy giving. In a nutshell, it is a parishioner’s intention to contribute a major gift to an organization, beyond their lifetime. So, unlike an annual gift (an outright gift made for current use), a planned gift is for the future. Essentially, parishioners make arrangements for planned gifts in the present but they are actually distributed at a later date. Additionally, the major gifts contributed by a parishioner can be made as a part of their financial or estate plans.
Planned gifts are not limited by a parishioner’s current wealth. Upon one’s passing, their accumulated wealth often exceeds the amount of one’s regular income-based ability to support the church during life. That’s why most planned gifts contributed by parishioners take the form of life insurance proceeds, stocks and bonds, or real estate holdings (among others).
The 1718 Society is St. Michael’s way of recognizing parishioners who provide for the church’s future in their planned giving. Click HERE to learn more about it.