Planned Giving

THE PILLARS AND PLANNED GIVING AT ST. ANN’S

At the beginning of this century, when we embarked on the restoration of the buildings and grounds that comprise St. Ann’s by the Sea, we recognized the need to strengthen our commitment to stewardship.  The capital campaign enabled us to perform much needed repairs, preserving a legacy left by those who had come before us.  Implementation of an Annual Giving program enables us to practice current stewardship.  Now, through a Planned Giving program, we have the opportunity to become faithful stewards of the future.

The Pillars has been established to honor members of the St. Ann’s community and others who have looked beyond the present by making a deferred gift so that we might become more responsible stewards as we plan for our future.  By including St. Ann’s in your estate planning, your faith and stewardship will be a legacy and an inspiration for those who will follow in the years to come.  All are welcome to join in this ministry.  As a first step, we encourage you to contact our Chaplain after reading this page.

MAKING A BEQUEST THROUGH A WILL

The easiest way to make a legacy gift is through a specific bequest in your will.  The bequest can be for a specific amount or for a specified percentage of the estate.  One example of  language you can use to make a bequest to St. Ann’s in your will is:

“I give, devise and bequeath to St. Ann’s Episcopal Church in Kennebunkport, Maine, $_____ or _____% of my net estate to be used for the Preservation Endowment (or general purposes of the church, if you prefer).”

A bequest may also take the form of a specific asset, such as appreciated stocks or mutual funds, a life insurance policy or IRA for which St. Ann’s has been named the designated beneficiary. Tangible assets, such as a piece of real estate or an antique may also be bequeathed to St. Ann’s through special arrangement.  A bequest may also be contingent on a specific condition, such as a spouse pre-deceasing you or a child reaching majority age.  You should, of course, work with your professional advisors to create a bequest.

LIFE INCOME GIFTS

Another way to make a gift is through one of several instruments that provide life income to the donor in exchange for a gift. 
Smaller gifts are managed as part of the larger investment portfolio of an organization such as the Episcopal Church Foundation (ECF) or your local community foundation where you may be able to designate more than one gift beneficiary.  Examples follow.

  • Pooled Income Funds (ECF requires a $2,500 minimum gift) provide income based on
    the return of the fund’s investments.
  • Charitable Gift Annuities (ECF requires a $5,000 minimum gift) provide income based on
    age and size of gift.

Larger gifts, generally $100,000 or more, are individually managed through trusts and provide greater flexibility in management and income.  Examples follow.

  • Charitable Remainder Unitrusts provide flexible options for income based on return
    of the trust’s investments.
  • Charitable Remainder Annuity Trusts provide a fixed annual income.

Finally, Charitable Lead Trusts allow you to transfer assets to a trust that pays St. Ann’s (rather than the donor) for a set period of time at which point the principal and all capital appreciation return to the donor or others named as beneficiaries.  As with bequests, you should work closely with you attorney or financial advisor to determine what type of instrument will be the most effective in helping you achieve your personal objectives in estate planning.

DESIGNATING YOUR GIFT

We would like to encourage you to designate your gift to the Preservation Endowment.  The Vestry Council established the endowment and a goal of $1.5 million to provide sufficient income to pay for the preservation and capital improvements to the buildings and grounds of St. Ann’s as the need arises.  With timely attention to replacement and repair, we will be able to protect the investment we now have in our newly restored property and hopefully avoid such extensive restoration projects in the future.

Gifts made without a specific designation are credited to the general operating fund and used to help defray annual expenses such as routine maintenance, clergy and staff compensation, and office operations.  These gifts are always appreciated and allow for some flexibility in the annual budget.