Planned Giving

Bequests by will to the church are exempt from federal and most state inheritance taxes. With a gift by will, your total estate value is reduced by the amount of your planned gift, reducing your overall estate tax.

By your will (which you may change by a codicil) or your revocable trust (which you may change by an amendment), you can make Trinity Church Boston the beneficiary of cash, securities, and/or other property. (If you plan to give property, please contact our Director of Stewardship.) You may designate a specific amount or a percentage of your estate to be given, or you may make Trinity a residual beneficiary of your will or trust (that is, a recipient of some part of the balance after payment of specific bequests, expenses, and taxes).

As you review your testamentary plans, here are three language samples for your use.

Specific Amount for General Purposes
“I give, advise, and bequeath to the Rector, Wardens, and Vestry of Trinity Church in the City of Boston, Massachusetts, the sum of $______ to be used at their discretion for the general objectives and purposes of said Trinity Church.”

Percentage Amount for a Specific Purpose
“I give, and bequeath to the Rector, Wardens, and Vestry of Trinity Church in the City of Boston, Massachusetts, ___% of the rest, residue, and remainder of my estate, to be used at their discretion for the general maintenance of the physical facilities of Trinity Church.”

Unrestricted Bequest to Trinity's Endowment
“I give, and bequeath to the Rector, Wardens, and the Vestry of Trinity Church in the City of Boston, Massachusetts, ___% of the rest, residue, and remainder of my estate, to be placed in the Phillips Brooks Memorial Endowment Fund, for use at their discretion.”

These are only samples for your consideration. Your legal counsel can help you to refine the bequest language to suit your specific wishes for Trinity. If you do decide to include Trinity in your will, we would find it very helpful to have a copy of that portion of your will for our records.

The simplest, most tax-efficient planned gift of all is made from a tax-deferred retirement plan, 401(k) plans, 403 (b) plans, and individual retirement accounts (IRAs). Left as part of an estate, tax-deferred assets will be subject to income tax and possibly other forms of taxation. However, naming Trinity Church Boston as a beneficiary of a retirement plan allows the gift to pass directly to the church free of any taxes.

This is also one of the easiest gifts to put in place. In most instances, one can simply go to the web site of the trustee or custodian of the plan and change the beneficiary designation. Like a bequest from a will or trust, the gift may be a specific dollar amount or a percentage of the plan assets.

To designate Trinity Church Boston as a retirement plan beneficiary, Trinity's tax ID number is 04-191-3340. Please send us a copy of your beneficiary form for our records.

Gifts of life insurance to Trinity Church Boston allow you to receive charitable tax deductions while making a larger gift to the church than might otherwise be possible for you. Using an existing life insurance policy is a quick and convenient way to make a planned gift commitment. Ask your insurance company for a beneficiary designation form, and name "Trinity Church in the City of Boston" as a beneficiary.

During your lifetime, you may make gifts of securities or other property and retain a stream of income for yourself or other designated beneficiaries. If you reserve income rights, a portion or all of such income will be taxable to you. You will receive a charitable tax deduction for a portion of your gift. At the death of your surviving beneficiaries, the principal then goes to Trinity Church Boston. Samples of these gifts include:

Pooled Income Fund

With a minimum contribution of $2,500, the Pooled Income Fund combines gifts from many donors to maximize investment management efficiencies and income. As a contributor to the Fund, you and/or your beneficiaries receive pro rata shares of the income, which is taxable and is based on Fund performance. You will receive an income tax and gift tax charitable deduction for a portion of your contribution, based on the life expectancy of the income beneficiaries.

Charitable Gift Annuity

With a Charitable Gift Annuity you make a gift of cash or marketable securities (minimum $5,000) in return for guaranteed fixed income based on your age. The amount of the payout is not affected by market fluctuations. You receive an income tax and gift tax charitable deduction for your gift in the year that you establish the annuity. Some portion of the annuity gets taxed as ordinary income, and if the gift was funded with appreciated property, some proportion will be subject to capital gains tax which can generally be pro-rated over your life expectancy. A portion of the income received may be free of federal income tax.

Charitable Remainder Trust

A Charitable Remainder Trust, using many different asset types, enables you to make a significant gift of $100,000 or more and to retain the right to receive income during your lifetime and/or the lifetime of your designated beneficiaries. The amount of payments received during the pay-out period depends on how you structure the trust. Your gift to a Charitable Remainder Trust provides an immediate income tax and gift tax charitable deduction. Income payments typically will be received and taxed to the beneficiary in part as ordinary income and in part as capital gain.

Pooled income gifts, charitable gift annuities, and charitable remainder trusts are administered in partnership with the Episcopal Church Foundation.

Trinity's Partnership with the Episcopal Church Foundation

Trinity Church Boston has chosen the Episcopal Church Foundation—an independent lay organization founded in 1949 which assists local congregations, dioceses, and agencies to secure the funds they need for future mission and ministry—to help direct some aspects of our Planned Giving Program. The Foundation serves as trustee and investment manager for the Pooled Income Fund and Charitable Gift Annuity. It may also serve as trustee and investment manager for your Charitable Remainder Trust, or you may choose your own.