Securing the Future of our Congregation’s Mission and Vision
Contributors to the Endowment make a timeless commitment to our congregation and the liberal religious tradition upon which it is based.
Gifts are invested in the Unitarian Universalist Common Endowment Fund, which ensures that our investments are in line with our values. A portion of the fund is used annually to provide grants suggested by the congregation. Areas of consideration for grants include
- community outreach
- capital improvements
- other charitable purposes.
A Message from the Minister
Each of us gives to this religious community in many ways. By sharing our talents and resources we help the church to be the beacon of liberal religion in the Southern Tier that our mission calls us to be. Making a gift to the Endowment, whether now or with a planned gift, is, financially, the most enduring way any of us can give. I invite you to become a member of The Susquehanna Society, either by giving a major gift to Endowment now or by planning one in the future. Your gift will help to ensure the lasting presence of Unitarian Universalism in our community into the beckoning future.
Yours in faith,
Reverend Douglas A. Taylor
The Susquehanna Society
Just as the Susquehanna flows on timelessly, so does our Endowment continue to serve our church forever. The Susquehanna Society was founded to recognize people who have contributed to the Unitarian Universalist Congregation of Binghamton endowment or who have expressed a formal commitment to do so.
Ways to Give
Planned Giving Vehicles
CASH OR SECURITIES – Cash or stock gifts can be made at any time including by Bequest.
BEQUEST – The most common way of making a planned gift. Your Will can state a specific gift amount or a percentage of your estate. If your Will is already prepared, a simple codicil (amendment) will do. Legal assistance is advised.
RETIREMENT PLANS – Perhaps the best planned gift, tax-wise, is the qualified retirement plan (401k, 403b, traditional IRA, Keogh Account, SEP, etc.). If passed on to an individual, these plans are taxed as ordinary income for the recipient, as well as subject to estate tax. (Beneficiaries are allowed to “spread” payments.) By contributing from the plan to the Endowment, you avoid both taxes.
REAL PROPERTY – Farms, homes, business property, vacant land and other tangible property make tax-wise gifts. The most common is your home, either upon death or now, with you retaining life occupancy. There are good tax reasons to do it now.
LIFE INSURANCE – An excellent opportunity is paid-up life insurance. Make an “absolute assignment” of the policy to the Endowment and receive an income tax deduction the first year. Also, the policy is removed from the estate. Other possibilities exist with policies upon which premiums are still being paid.
CHARITABLE GIFT ANNUITIES – Administered by the UUA, a Gift Annuity provides annual income to the donor (and then spouse/partner), the amount based on age at the time of purchase, date of gift and amount of gift. When realized, our Endowment will receive a percentage of the annuity (say 80%) and the UUA receives the remainder. Minimum gift is $10,000.
POOLED INCOME FUND – Also administered by the UUA, this fund, unlike the Gift Annuity, can be added to any time in increments of $1,000. There is a $5,000 minimum and the same estate and income tax implications applying to Gift Annuities apply here. The payment rates to the donor are not locked in like they are with an annuity
CHARITABLE REMAINDER TRUST – Usually in amounts larger than Gift Annuities or Pooled Income Funds, the CRT is established at a bank or investment house.
It is advised that you seek legal assistance regarding any planned giving decision.
How to Give
Your attorney or financial planner can guide you through the process of making a planned gift.
Persons become members of the Susquehanna Society by informing the UUCB minister, Board of Trustees President or an Endowment Committee member that they have made plans for a gift or bequest to UUCB. The nature or the amount of the gift/bequest need not be disclosed.
For more information contact the Endowment Committee via the church office (607) 729-1641 or email firstname.lastname@example.org