Planned gifts can benefit the San Lucas Mission while helping you to save taxes, increase your income and pass more on to your heirs.
Because of the way planned gifts are arranged, they enable people to make much greater gifts than would otherwise be possible. Some planned gifts even provide surprising income and tax benefits to the donor. The most popular planned gifts include:
Legacy gifts are those that take effect after our journey on earth has ended. They are often the most significant gifts we may ever make, and their importance to the work of San Lucas Mission cannot be overestimated. There are several legacy gifts to consider:
Through a Will or Trust
You can leave a bequest to San Lucas Mission in your will or trust. It can be for a specific amount, a percentage of your estate or whatever may remain after all other bequests are satisfied. When designating San Lucas Mission, you should use our official title and address.
Through a Retirement Plan
You can name San Lucas Mission as the beneficiary of a portion or all of your retirement accounts assets such as your IRA, 401(k), 403(b), Keogh, or another qualified plan.
Through an Insurance Policy or Annuity
You can name San Lucas Mission or the Friends of San Lucas as first, second, or as a contingent beneficiary of a life insurance policy or annuity.
Gifts of Appreciated Securities – Stocks, Bonds, Mutual Funds
Appreciated securities make excellent gifts to the San Lucas Mission’s work and can be transferred easily. In fact, most stock gifts can be made electronically from your account to the Friends of San Lucas account. In all cases, please notify us when initiating a gift of securities to the Friends of San Lucas Mission (651) 454-0981.
Gifts of Property Real Estate and Tangible Personal Property
Real estate is versatile. It may be given outright or donated as a retained life estate. In the latter, the donor retains use of the property either for life or a term of years. Real estate can also be used to fund a life income gift such as a deferred gift annuity or a charitable remainder trust. By so doing, the donor avoids an immediate capital gains tax, enjoys a current charitable income tax deduction, benefits from a new income stream, and makes a significant gift to the work of the San Lucas Mission.
Tangible Personal Property Gifts refers to items such as artwork, antiques, jewelry, collections, and the like. Because of the nature of the San Lucas Mission’s work, in most instances, it is preferable for the donor to sell the item and donate the proceeds. Each item, however, is considered on its own merits and we encourage you to call us to discuss its usefulness as a gift.
We encourage you to explore these and other planned giving arrangements. If you already know what gift plan you would like to explore, would like more information, or would simply like to discuss the possibilities, please contact us.