“For we brought nothing into the world, just as we shall not be able to take anything out of it…Tell them to do good, to be rich in good works, to be generous, ready to share, thus accumulating as treasure a good foundation for the future, so as to win the life that is true life.” 1 Timothy 6:7,18-19
In the spring of 2013, Presentation of the Blessed Virgin Mary established the Legacy Foundation to provide an ongoing source of income to support its mission for generations to come. Gifts are held in perpetuity in an endowment fund with the Catholic Community Foundation with only the endowment income distributed to Presentation for its future needs. Having the endowment held by a separate institution, the funds should be protected from any possible litigation or action of creditors against the parish, and are also protected against possible misuse by future parish leaders to solve short-term financial problems. In short, gifts to the Legacy Foundation will last forever. Additionally, any gifts to the Foundation are exempt from the Archdiocesan assessment (tax.)
The Catholic Community Foundation, started by Archbishop John Roach in 1992, is the largest Catholic foundation in the United States and is an autonomous non-profit corporation separate from the Archdiocese of St. Paul and Minneapolis. The Catholic Community Foundation stewards charitable assets with a focus on long-term performance through investments that align with Church teachings.
Supporting our Mission
Gifts to the Presentation Legacy Foundation are unrestricted in terms of donor intent. This allows future parish leaders to direct the return on the investments to support the worship, education, evangelization, and service initiatives of the parish, in addition to providing for the capital improvements to the parish facilities which make this mission possible.
Types of Gifts
There are a number of ways to contribute to the Presentation Legacy Foundation:
Gifts of Cash or Stock
Contributions of any size are greatly appreciated. Checks should be made payable to “Presentation Legacy Foundation.” Gifts of stock or mutual funds are typically transferred first to Presentation, and then after being sold by Presentation, the proceeds are deposited with the Legacy Foundation. (In this way, gifts of any appreciated assets may be exempt from capital gains tax.)
Charitable Gift Annuities
A Charitable Gift Annuity provides you with a guaranteed, fixed rate of income for the rest of your life. The balance of your annuity then becomes a charitable gift to the Legacy Foundation. (A minimum gift of $10,000 is required to establish a Charitable Gift Annuity.)
Bequest in Your Will or Estate Plan
A simple, easy way to leave a lasting legacy at Presentation is to direct a portion of your estate to the Legacy Foundation in your will. If you intend to direct some of your estate to your children, consider “adopting” one additional child, “Mary,” as you apportion your wealth. Or you may consider directing a percentage of the estate to the Foundation equal to your annual tithe (5% or 10% or more.) Please contact us or your attorney for applicable language.
IRA Beneficiary Designations
You may name the Presentation Legacy Foundation as a partial or full beneficiary. This way you can remember your parish community with a gift that does not tap into your current cash assets.
Donations of Personal Property or Real Estate
You can donate your home or cabin and continue to use it for the rest of your life. You might consider making a gift of property or similar assets of appreciated value that may be otherwise subject to capital gains tax.
Perhaps someone you know has died recently which has made some new resources available to you. A great way to remember them is to direct
some of those resources to the parish. Also, an obituary notice that states “Memorials preferred to the Presentation Legacy Foundation” allows friends and family to show their support for the parish in honor of a parishioner who has died.
For any gifts totaling $1,000 or more, you will be recognized by the parish as a Benefactor of the Foundation. Benefactors are recognized on the Foundation sign in the front entrance of the church.
For benefactors that are still alive, a sample designation might be:
John & Susan Smith
For memorial gifts, a sample designation might be:
In Loving Memory of
†John & †Susan Smith
For more information on participating in the
Presentation Legacy Foundation, please contact:
Sue Reinart, Parish Business Administrator
or Jim Miettunen, Legacy Foundation Chair and Parish Trustee