All files are in PDF format
Please mail your gift to:
The Church of St. Peter
1801 West Broadway
St. Peter, MN 56082
Jennifer Torres, Business Manager at 507-931-1628, Ext. 1420 [email protected]
Use our credit card contribution form to mail in your gift, or call Jennifer Schugel-Torres, Business Manager at 507-931-1628, Ext. 1420 to make your gift over the telephone.
Choose to authorize automatic withdrawal from your checking account or automatically charge your credit card. In addition to saving paper, you won’t need to worry about bringing your weekly envelopes to Mass every Sunday! Click here for automatic withdrawal form or call Jennifer Schugel-Torres at 507-931-1628, Ext.1420.
Gifts of stock, bonds, and mutual funds that have increased in value since you bought them can result in extra tax savings. You can deduct the full current market value of the stock on your tax return and avoid paying capital gains tax. If your portfolio has incurred losses, you can use those losses to reduce your regular income. We’ll provide you with all the necessary information and tax-deduction notification.
GIFT OF GRAIN
If you are a cash basis taxpayer, are an active farm producer, and make your gift of grain directly to the Church (with the Church selling the grain), then a gift of grain may make sense for you instead of a gift of cash. This gift plan may save you on taxes. Please consult your CPA or tax advisor to see if it may be right for you.
For many, utilizing a planned giving method creates an optimal way to exercise the stewardship of treasure, our financial resources.
- BEQUEST: If you wish to include The Church of St. Peter in your will, the following bequest language may be used by your attorney:“I/we the undersigned, give (a percent or dollar amount) of my/our estate to The Church of St. Peter, (a Minnesota 501(c)(3) Religious organization, Federal ID#41-0724051) 1801 West Broadway, St. Peter, Minnesota 56082.This bequest is to be used for (insert the name(s) of the Perpetual Fund(s) you choose to support or ‘purposes as directed by the Church’).”
- CHARITABLE GIFT ANNUITY: A contract between the donor and the Church, where the donor gifts appreciated stock, property or cash to the Church in exchange for a lifetime payment of a fixed amount, based on the donor’s age. A portion of the income is not taxed, considered a return of principal. The donor receives a tax deduction based on the future gift value to the Church. This can also be done with a deferred payment to the donor, where the donor makes the gift now and receives an immediate income tax deduction; then at a later date, usually retirement, the donor begins receiving income.
- CHARITABLE TRUST: The donor establishes a charitable trust, funds it with appreciated stock, property or cash, receives an income from the gift for a period of years or for the rest of his/her life (and possibly for the life of a spouse), and receives tax benefits based on the type of trust, age of the donor, and income paid to the donor. The trust assets become the property of the Church upon the donor’s death, or the pre-established time period.
- LIFE ESTATE: A donor deeds his/her personal residential property to The Church of St. Peter. While the donor is still living, he/she has a legal interest in the life estate with full rights to live there or to rent or sell those rights. The donor receives an immediate income tax deduction for the future gift to the Church.
- LIFE INSURANCE: New or existing policies can be gifted to The Church of St. Peter with different tax benefits depending on the type of policy, the ownership, beneficiary, and premium payments.
IRA OR QUALIFIED RETIREMENT PLAN
Directing that assets in an IRA or a qualified retirement plan go to charity upon the death of the IRA owner involves merely completing a beneficiary designation form and filing it with the IRA custodian. The process is essentially the same with response to qualified retirement plans. Moreover, whenever a change might need to be made, the same process can be followed. Usually, a charity is designated to receive a percentage of the assets remaining in the IRA when the donor dies.
In 2008 and 2009, Congress has approved an IRA transfer for donors age 70½ or older. A donor can directly transfer up to $100,000/year to The Church of St. Peter and not be taxed on the distribution. For individuals who must take a required distribution, but may not need all or some of the income, this is a tax-wise way to make a gift. The donor sends a letter to the custodian of the IRA account instructing them to transfer an amount to The Church of St. Peter. The donor does not receive a tax deduction, since they benefit from the absence of tax on the distribution.
There are people and events that are of particular importance and significance to each of us. Tribute gifts both honor or memorialize an individual or occasion and support the mission of The Church of St. Peter. They can be used to recognize:
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