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Planned Giving & Bequests
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There are a number of ways you can help support the St. Martin de Porres National Shrine & Institute. These opportunities listed below contain general information regarding giving options. However, we urge you to seek the counsel of a professional financial advisor prior to making your final decision.
A Charitable Gift Annuity is a simple, contractual agreement in which you transfer assets to St. Martin de Porres National Shrine & Institute in exchange for our promise to pay fixed payments to you or to you and another individual for life. The annuity rate depends on your age on the day the annuity begins and will remain the same during the life of the agreement. For more information on creating a Charitable Gift Annuity, please email our rector, Fr. James Martin Nobles, OP, [email protected]
Create a Charitable Gift Annuity
Some of our benefactors often find it more advantageous to give gifts of appreciated stock as opposed to cashing the stock and then providing a cash donation. By deducting the value of the stock as a charitable gift you may avoid substantial capital gain taxes. A gift of stock, provides the Shrine &Institute with the current market value of that particular stock. You may designate a specific use for the stock proceeds (vocations, elderly care etc) or leave it to the greatest needs of the Shrine & Institute. When you contribute stocks, bonds, or other securities, you are allowed a charitable deduction based on whether the securities qualify as long-term or short-term capital gain property. For more information on the tax advantages contact your financial advisor.
Donate Stocks / Appreciated Stock
For more information on how to donate a gift of appreciated stock, please email our rector, Fr. James Martin Nobles, OP, [email protected]
Many corporations and businesses will match charitable contributions made to a nonprofit charitable trust or organization such as the St. Martin de Porres National Shrine & Institute. Please consult with your employer to see if such a policy exists.
Double Your Contribution – Matching Donations
Help Support the Mission of St. Martin de Porres National Shrine & Institute.
Estate Planning
Throughout the past few years, a number of our friends have shown their generosity by leaving the St. Martin de Porres National Shrine & Institute a bequest in their will or estate plans. Their kindness has provided us with the resources needed for caring on the mission of the Shrine and Institute. Please consider following their example and providing us with a bequest in your will. Once you have provided for your loved ones in your will or trust, please consider remembering our Shrine & Institute with a bequest of any amount. You and your family will be remembered in the daily prayers and Masses of all the friars of the St. Martin de Porres National Shrine & Institute.
Sample Bequest Language:I hereby give, devise, and bequeath the sum of $__________ (or _____ percentage of….. or residual of my estate) to the St. Martin de Porres National Shrine & Institute, (190 Adams Avenue, Memphis, Tennessee. Federal Tax ID #42-1685747) for its general purposes (unrestricted).For more information on bequests and estate planning, please contact our rector, Fr. James Martin Nobles, OP, [email protected]
Estate Planning OptionsThere are a variety of bequests you can make in your will:
1. Direct Bequest: Bequest the St. Martin de Porres National Shrine & Institute a specific cash amount or title to some specific property.
2. Residue Bequest: This type of bequest provides the St. Martin de Porres National Shrine & Institute with a residual gift from your estate. After first listing the needs and gifts for your heirs and loved ones, you assign the remaining amount, (the residue) to the St. Martin de Porres National Shrine & Institute.
3. Memorial Funds: This bequest is usually made as a trust. Your surviving heirs can use the property or the income from a fund for as long as they live. At the time of their passing, the bequest becomes the property of the St. Martin de Porres National Shrine & Institute to use for their greatest need.
4. Retirement Plan Assets: When you name the St. Martin de Porres National Shrine & Institute as the beneficiary of your retirement plan assets, you don’t part with a single penny today and you protect your estate from taxes later. If you were to instead leave these assets to your family, up to 65 percent of their value could be eroded by taxes.
For more information on how you can remember the St. Martin de Porres National Shrine & Institute in your will, please contact our rector, Fr. James Martin Nobles, OP, [email protected]
Leverage Your Life Insurance PolicyLife insurance policies are often drawn in order to support and protect those we love from the unexpected death of a provider or a loved one. Thankfully, the years go by and the initial need for those policies change. You have two options to leverage life insurance policies. First, you can name the St. Martin de Porres National Shrine & Institute as the recipient of the death benefits from your life insurance policy. Or you could sign over ownership of the policy to us right now. This latter option allows you to receive an income tax deduction equal to the policy’s fair market value or the total premium paid, whichever is lower (Please note that laws addressing the contribution of insurance policies vary with each State. We encourage you to consult your attorney or financial consultant on how to best provide this gift.)
Donating Real EstateYou may give your personal residence or farm to the St. Martin de Porres National Shrine & Institute while retaining lifetime use of the property for yourself and your spouse. Referred to as an irrevocable gift, it provides you with an immediate charitable deduction equal to the fair market value of the Shrine & Institute’s remainder interest, subject to a 30% limit.
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