Leaving a Legacy through Planned Giving

A legacy gift is focused on empowering the ministry and mission of St. James’ well into the future. Unlike a pledge to the annual stewardship campaign or weekly offerings that support the annual operating budget of the church, a gift to the St. James’ Foundation supports the long-term goals and needs of the church as the Vestry determines over time and as the ministry and mission of the church continue to change and grow. Although a legacy gift to the St. James’ Foundation can be made at any time, it is more typical that such gifts are made through “planned giving” as part of an individual’s financial or estate planning.

Planned gifts – gifts that are made through bequests in wills, life income gifts, and donations of appreciated property (such as stock or real estate) – are a recognition that, in time, all accumulated assets must pass from one generation to the next. Planned giving provides an opportunity to think about the things that you care about, that reflect your values and beliefs, and to consider how they will continue, develop and thrive in the future, long after you are no longer here.

Please review the information below and consider making a planned gift to the St, James’ Foundation through your will or as part of your financial or estate planning.
If you are interested in learning more, please contact Rev. Becky Coerper at 315-685-7600.

 

The St. James’ Episcopal Church Foundation holds endowed and restricted funds gifted to St. James’ Church. There are seven separate accounts managed within the portfolio from charitable gifts given to the Church:

• The Vera Howard Fund, established in 1992, supports Christian education projects.
• The Hazel Smith Fund, established in 1992, supports capital expenditures.
• The St. James’ Fund, established in 1993, is used for general support of the church.
• The Outreach Fund, established in 1998, supports outreach activities.
• The Bishop Kellogg Fund, established in 2000, supports general operations.
• The Leadership Support Fund, established in 2020, supports leadership – specifically clergy and staff – such as but not limited to salary, sabbatical funding, postulant support and funding a search process.
• The Mission Reserve Fund, established in 2021, holds the remainder of funds donated for mission as part of the “Standing Tall for Generations to Come Campaign,” a comprehensive capital campaign launched in 2013 primarily to support facility renovations and improvements.

 

The St. James’ Foundation Board of Directors, comprised of the Rector, Wardens and parishioners appointed by the Vestry, oversees the Foundation and provides a report to the parish each year at the Annual Meeting. The Foundation Board recommends and the Vestry approves the amounts, if any, to be disbursed from the various Funds each year based on the particular needs for the mission and ministry of the church and the purposes for which such Funds are held. The assets of the St. James’ Foundation are managed by an independent investment advisor as part of the Unified Investment Fund of the Episcopal Diocese of Central New York, which is overseen by the Investment Committee for the Episcopal Diocese of Central New York. Several parishioners from St. James’ also serve on this Diocesan Committee.

The St. James’ Foundation has been established through the generosity of St. James’ many members over generations. When you give to the St. James’ Foundation, whether your gift is $1,000 or $100,000, it will become a part of your legacy and help to ensure that St. James’ remains a welcoming, active and vibrant Christian community sharing God’s love in the world for many years to come.

 

There are numerous ways to give to the St. James’ Foundation. Immediate gifts may include cash, appreciated securities, real estate or personal property. Deferred gifts are most often made through bequests made in a will, but are also possible through other financial and estate planning means, such as designating St. James’ as a beneficiary under insurance policies or retirements plans. Other financial and estate planning tools, such as charitable gift annuities or charitable trusts, can be structured to provide the donor (and their spouse) with income for life, with the principal passing to St. James’ after the donor’s death or death of a surviving spouse. Planned giving can provide an opportunity to make a gift to St. James’ from accumulated resources while gaining various tax and estate planning benefits.