Leaving money to your parish is a great way to help maintain and build for the future growth of Holy Cross.
It is best that the bequest be designated for the parish funds in general. If you would like to make your donation to a particular fund, it would be best to discuss this with Father Wheeland, so the correct terminology is used.
Memorial & Tribute
Gifts such as stocks and bonds, real estate, and other property may be transferred to Holy Cross Church. These are very helpful in the long-term development of funds.
Call the parish office for more information or contact your own personal financial advisor regarding the potential benefits of such a donation.
*If it is at all possible for you to do so, please remember Holy Cross in your will. The legal title is Holy Cross Church of Rochester, New York.
Ways of Giving
Your will is a meaningful way to make a charitable gift of lasting value to Holy Cross Church. Through a bequest provision, you can designate a specific amount of money, a percentage of your estate, or the remainder of your estate after other bequests are satisfied. Adding a codicil to an existing will is a simple process that begins by making your intentions known to your attorney.
Gifts in memory of deceased friends and loved ones - or gifts that honor living individuals - are gratefully accepted by Holy Cross. Such contributions are often used to reflect the special interests of the person honored.
If you own long-term securities that have appreciated in value, you may prefer to contribute securities to Holy Cross rather than cash. In this way, there may be both capital gains and tax deduction benefits. Please contact the parish office for the proper form and stock transfer instructions.
Charitable trusts can result in significant support for the work of Holy Cross, while also securing your financial future and reducing taxes for you and your heirs. Through a charitable remainder trust, you can provide income for yourself or a loved one and benefit your church as well. You specify the amount of payments to be distributed (at least 5% per year), to whom payments are to be paid, the duration of payments (a period of years or the beneficiary's lifetime) and the charity that will receive the remainder. The trust may be set up for the lives of the beneficiaries or for a term of up to 20 years.
A charitable gift annuity is a simple life income agreement between a donor and Holy Cross Church. In exchange for your gift of cash or negotiable securities only, you receive fixed payments for your lifetime and/or the lifetime of another person. You may be entitled to a partial tax deduction in the year of the gift, and a portion of each payment is tax-free for a period of years as well. The size of the payments is based on the amount of the gift and the annuitant's age. Gift annuity plans start at $10,000, and are restricted to donors 65 years and older.
Life insurance may be an especially attractive gift vehicle if you own a policy that is no longer needed for its original purpose. In addition, those who qualify for low-cost premiums may find it more affordable and convenient to plan a significant gift to Holy Cross using life insurance. By naming Holy Cross Church* as the owner and beneficiary of a life insurance policy, the donor may be entitled to an immediate tax deduction for the accumulated cash value of the policy (if any) and a future deduction for any subsequent premiums that he or she pays.
Real property gifts will be accepted at the discretion of Holy Cross after a review of all relevant factors because of the complexities and issues involved.