Making a Contribution to the Cathedral

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Vestry Statement on Stewardship

    We the Vestry of the Cathedral Church of Saint Luke believe that stewardship is all that we do with all that we have all of the time after we say "We believe." We understand that God is the provider of all that we own; so we, as God’s stewards, return these gifts to God through the time, talent and money we offer in service to others in the name of Jesus Christ.

    God calls upon us to give of our time, talent and money so that we might experience the quality of life that God wants for us. We believe that God will show God’s love for us by blessing and using every gift we offer in love and thanksgiving, regardless of how small or large we perceive it to be. We believe that stewardship is a vital part of our worship and spiritual life, with the knowledge that, in giving we always also receive--as Saint Paul said, "In full measure, packed down and running over." In accordance with biblical teachings and our own Episcopal tradition, we accept the tithe as the minimal goal for our giving, offering our time and talent as we have been called.

    Together, let us with gladness and thankfulness, present the offerings and oblations of our lives to our Lord with the hope that God’s will may be done on earth as it is in heaven—in this place and at this time.

 

Did You Know: Some Results of Your Stewardship in 2007

• New programs for Sunday school, Spirituality, GLBT members, and youth
• Greater local community and diocesan outreach, e.g. the soup kitchen, Saint Elizabeth's Pantry, and youth, choral, and young adult meetings for the diocese of Maine,
• Refurbishment of our education wing and choir room

 

Where your money goes: 

 

 

 

Total $500,000

 

Stewardship Goals for 2008:

To fulfill the mission of the Cathedral church of Saint. Luke our stewardship goals for 2008 are  ...

• an increase the total pledge amount by 15%
• a balanced budget
• continue to provide worship that inspires and offer prayer and healing that helps people experience the love of Christ.
• continue our strong commitment to our Christian Education program for all ages
• continue to expand our outreach both at the local and national levels
• Get 100% pledge participation and help parishioners work towards a tithe by giving proportionally

 

"The measure you give will be the measure you get back." - Luke 6:38

 

Planned Giving—Remembering Saint Luke's

     Our world is one of ever-increasing complexity. Estate planning, tax issues, and other end of life decisions seem so daunting to many people that fully 60 percent of Americans die without making a will. In an effort to help parishioners of the Cathedral Church of Saint Luke navigate these complicated waters, Saint Luke’s stewardship committee offers this brief introductory brochure. One element of our faith is being a part of a supportive and helpful community.

      Events in 2007 demonstrated to the nation that each of us needs to plan for our future well being,  and for our heirs.  We have attempted to provide you with some basic information in this small brochure on Wills, Trusts and other estate planning tools.

     Remembering that income from our endowment supports mission and ministry for today and tomorrow, a bequest is a vote of confidence in the present and future of Saint Luke’s.

 

Wills & Trusts

    No document expresses your appreciation of life more deliberately than your trust or will. This written testament reflects the beliefs and values that you most cherish. Through your trust or will you can make certain that your interest in Saint Luke’s will be carried into the future, just as we are benefiting from those who have gone before us. A gift made through a trust or will is called a bequest or a devise.

 

Bequests

     Bequests may vary in size from modest amounts to thousands of dollars depending on the circumstances of the individual. Bequests can be made in the form of cash, securities, real estate, art, and other property. If you would like to make a bequest to Saint Luke’s, it can take many forms. An unrestricted bequest is the most flexible for Saint Luke’s because it allows discretion to the church leadership to use your gift where it may most be needed. A restricted bequest may be designated to endow specific areas or programs at Saint Luke’s, such as music, outreach, the building, and so on. A bequest can establish a trust that provides lifetime income for one or more beneficiaries whom you designate with the remainder ultimately coming to one or several ministries at Saint Luke’s

 

Contingent Bequest

    If you have family obligations which preclude an outright bequest for the benefit of the church, then naming Saint Luke’s as a contingent beneficiary should be considered. Under a contingent bequest, Saint Luke’s would receive the bequest only if the individual beneficiaries for whom you would provide are deceased.

 

Planned Giving - Trusts

     A planned gift is generally made during the lifetime of the donor to an individual or an organization such as Saint Luke’s. Saint Luke’s is able to participate in the Episcopal Church Foundation planned giving programs in cooperation with the Diocese of Maine’s Stewardship and Planned Giving office. Together you and experts can work to establish a plan. Sometimes these planned gifts are established as a legal document called a trust.

     Often, a planned gift involves a gift to a charity such as Saint Luke’s that is postponed or, in some instances, that exists only for a specific period of time. For instance, if income is needed by the donor immediately and the donor would also like to leave something to Saint Luke’s after he or she is gone, the donor might create a trust or an annuity with highly appreciated assets, with the remainder passing to the church after the donor’s death. By doing this, the donor’s present income will increase and Saint Luke’s will receive the underlying assets upon which the income is based after the donor’s death. These gifts generally qualify for a tax deduction. On the other hand, if the financial resources are not now needed, but will be needed later for family members, a special trust can be established that gives present income to Saint Luke’s and gives the investments to the heirs. Like other planned gifts, it provides the donor with a tax deduction.

           

Typical Assets Used in Planned Gifts

     Types of assets that might be given in a planned gift or a will include cash, real estate, stocks and bonds, life insurance, and retirement funds.

Cash

    Some people choose to leave cash to their church. It can be a fixed amount or a percentage of their estate. There is a growing sense that it is appropriate to tithe 10% to charity, and that can include many different kinds of organizations such as Saint Luke’s, the Diocese of Maine or a secular charity such as a hospital.

Stocks & Bonds

    If your stocks and bonds have appreciated in value, you might wish to consider donating them. Should the stocks have a low yield and your need is for greater income, Saint Luke’s and the Diocese can help to arrange a gift partnership (like a charitable gift annuity) and avoid capital gain taxes plus provide an income.

 

Retirement Funds

    Some people will have assets in the form of retirement funds to give away. 401k and 403b plans are established through tax-free funds, and tax is paid by the recipient upon withdrawal from the plan. If the recipient dies and there are leftover funds, those funds are subject to both income and estate taxes unless these funds are given to charity.

Real Estate

    Real estate, whether a primary residence, second home, commercial property, or undeveloped land, is an attractive option for some donors. Real estate may also be given through a plan which permits the donor lifetime occupancy (Life Estate Contract), with the property going to the church at the donor’s death. The donor receives an income tax deduction in the year of the gift, and capital gains taxes are reduced or avoided if the property has increased in value since he or she assumed ownership.

 

Life Insurance

            The gift of a life insurance policy represents a way to make a significant contribution to Saint  Luke’s for a relatively small premium. You may donate a fully paid-up policy, a policy upon which premiums are still owed, or a newly-purchased policy. In each instance, by naming Saint Luke’s as irrevocable owner and beneficiary, you are entitled to a charitable deduction. Alternatively, you could simply name Saint Luke’s as the beneficiary of all or some portion of your life insurance policy.