The Full Story

Planned Giving

One way to support the missions of the parish in including Grace Episcopal in one’s will or estate plans. Read below to learn more.

Message from the Rector

As you make your wills and estate plans, it is always appropriate for us to consider and provide legacy gifts for those people we love and those religious and charitable institutions and causes to which we have dedicated our lives. For the church, these legacy gifts are like the proverbial Mustard Seed or the Five Talents. Through diligent and wise investment, legacy gifts of any size bear fruit far beyond their original values. While you are in health make prudent provision for your family through adequate insurance, and make your will, and if you are able, provide a legacy gift for this parish along with any other institutions and causes you highly esteem. Your children and future generations will rise up and call you blessed.

Gratefully,

Tuck Bowerfind (he/him/his)

Rector, Grace Episcopal Church

Why Consider a Planned Gift to This Parish?

Parishioners and friends involved in the work and worship of Grace Episcopal do not make annual, capital and endowment, and planned gifts merely to give money. They give to support the mission of the parish. At Grace Episcopal Church, we seek to share God’s love in witness and service to one another and our community, our neighboring institutions of higher education, and, through the Diocese of Southwestern Virginia, to the nation and the world. Making financial gifts is a part of ministry that allows participation in the healing of the world and the transforming of lives among and beyond the parish community. A legacy planned gift is a final part of one’s life lived in faith and support and reflects an ongoing connection with and desire to continue the missions and community values and faith of this parish.

The Impact of Planned Gifts Over the Years

Purposes of planned gifts generally fall into five categories: support and maintenance of buildings and grounds; outreach meeting local, regional, and world needs, emergencies, and opportunities; support of particular areas of ministry to allow creative initiatives benefiting Christian education, youth, music, worship, and college students; annual operating budget; and unrestricted for general endowment or use at the discretion of the Vestry. While annual pledges fund most of the annual budget, an annual draw from a number of endowments provides approximately 13 percent of the budget each year.

Types of Planned Gifts

Planned gifts may be unrestricted to allow the Vestry to determine the best use of the gift to meet priorities when received or, in consultation with the Rector, directed to an ongoing ministry or need of interest to the donor. The primary options individuals will consider in making a planned gift to Grace Episcopal Church include:

Bequest – a way to make a provision in a will or estate plan that directs a specific dollar amount or percentage of an estate to Grace Episcopal Church.
Adding the Parish as a Named Beneficiary of a Retirement Plan or Life Insurance Policy – an arrangement that ensures the parish receives a stated share of the retirement plan or insurance policy upon the individual’s death.
Charitable Remainder Trust – an irrevocable trust established by a transfer of assets that pays a specified annual percentage of the trust’s value to one or more people for a fixed number of years. At the end of the term of the trust, the remaining value of the trust assets is distributed to the parish.
Charitable Gift Annuity – An irrevocable transfer of cash or securities in exchange for a contract to pay the donor or others named a fixed payment for life.
Pooled Income Fund – An arrangement in which an individual contributes to a fund holding the gifts of others and receives a share of the proceeds. When the donor dies, the individual’s shares of the Fund transfer to the parish.
Charitable Lead Trust – Similar to a charitable remainder trust, but the principal reverts to the donor or designated heirs at the end of the trust term while Grace Episcopal Church receives a fixed percentage each year during the trust’s term.
Life Estate – A donor gives one’s home, farm, or second home to the parish while retaining the right to live there for the remainder of the donor’s life. The donor receives an immediate tax deduction. Grace Episcopal Church receives the sale value of the home after the donor’s death.

The Legacy Society of Grace Episcopal Church

The Vestry approved in 2022 the establishment of The Legacy Society of Grace Episcopal Church to recognize those who have included the parish in their estate plans. Simply sharing that the parish is included in one’s estate plan is sufficient to become a member of The Legacy Society. An annual event will recognize Society members who can also inspire others to help secure the future strength and mission of Grace Episcopal Church through a planned gift. For more information on the Legacy Society or ways to become a member with an estate gift, please contact Rector Tuck Bowerfind or the parish’s designated Planned Giving Shepherds: Dennis Cross (540.460.1338) or David Hansen (434.941.6042).