The name of the stock. (Include the CUSIP number found on the front of the stock).
The number of shares of the stock.
To whom (which Diocesan institution) you wish the stock to be sent or how you would like your gift to be divided.
Any and all restrictions that apply to the use of the proceeds.
Your name, address, and daytime phone number.
Making a Will Bequest
One of life's saddest moments is the death of a love one. Often there is an accompanying tragedy - that the wishes of the deceased may not be carried out due to the lack of a Will, or a valid Will. When one dies without a will, the probate courts have formulas for the distribution of your estate, that are based strictly on marital or blood relatives. Friends, as well as favorite charities, are completely ignored in this estate distribution process.
Each state has different probate policies. Normally all assets from one spouse will be transferred to the other spouse. However, at the death of the last spouse, blood relatives normally become the beneficiaries if there is no will. These two steps have an immediate impact on all families. Families have permanently split over the infighting to control sentimental possessions, mostly because a will did not spell out how these possessions should be distributed.
Another common tragedy occurs when childless couples die. For example, if the husband died first without a will, the probate courts would give all of his assets to his wife. Then, if the wife also dies without a will, all assets go to her relatives - leaving out his entire family. One form of stewardship of your possessions is to indicate where you would like your material possessions in life to go after your death.
Having a valid will makes you feel secure and confident that your intentions will be met. Besides passing your estate to your loved ones in the way you desire, you can also remember your parish, school or favorite charity in your will. There are three ways that you can remember a charity in your will:
The costs associated with setting up one's will vary, depending on the attorney, the complexity of the estate, and the amount of time it takes.
The Diocese of Reno encompasses 28 parishes, 9 missions, 1 high school, 4 elementary schools, 2 pre-school/kindergarten schools and 1 cemetery. Gifts to the Diocese or parishes or agencies of the diocese should be structured in one of the following formats, depending on the type and purpose of the gift:
Gift to the Diocese. Use the following: "The Roman Catholic Bishop of Reno, and his Successors, a Corporation Sole."
Gifts to parish or agency. Use the following; "The Roman Catholic Bishop of Reno, and his Successors, a Corporation Sole for the benefit of (state purpose or specific recipient of gift).
An endowment program establishes a fund that remains invested on behalf of a particular organization. The principal amount continues to grow through donations, and is never withdrawn or spent, only invested. The income earned through the investments, however, becomes an on-going source of revenue that increases as the principal in the fund grows.
Just as it is important for a family to save money for things like children's education, emergencies and retirement, it is important for Catholic parishes, high schools, agencies and the Diocese itself to build reserves on which they can depend. Funds generated through an endowment program will always be there ... a perpetual donation for generations to come.
The Diocese of Reno is fortunate to have established an endowment fund into which all endowments are placed. These endowment funds are held in the Catholic Community Foundation of the Diocese of Reno. Financial professionals manage the fund. It combines the endowments of individual parishes, agencies, the high school and the diocese itself in order to maximize investment returns and reduce overhead costs.
The Foundations' assets are segregated from all other assets of the diocese and are used only for donors' specific intentions. The substantial value of the individual accounts allows the endowment funds to be invested efficiently and economically. The foundation has a diversified portfolio that is conservative in nature. The fund is professionally managed by several different fund managers. These professional money managers report to the Investment Committee of the Foundation Board of Advisors. The Foundation fund continues to grow as more parishes, schools and agencies establish endowments to secure their financial future.
The Office of Stewardship & Development will assist each diocesan entity on the planning for and implementation of an endowment program.
TYPES OF ENDOWMENTS
Parishes, schools and agencies continue to establish endowments in the Foundation for their institution's financial future. However, other endowments may be established by individual donors, such as:
Scholarships: Individuals have established scholarships at grade school and high school levels for a variety of reasons:
As a way to thank the schools which gave them a strong foundation for their future.
To memorialize students whose lives have ended too early.
To memorialize one's parents, both living and dead.
To bless children with a Catholic education.
To provide for the children of families who otherwise could not afford a Catholic education.
Donor Advisory Funds: An individual family, or organization may establish a donor advisory fund endowment with a substantial gift. Although the Bishop is responsible for the disbursement of earnings from such funds, throughout their lives donors may advise the Bishop regarding the recipients of the earnings disbursements. This allows the donors to establish a special major charitable fund without incorporation of a family foundation. An agreement is also made regarding distribution of earnings after the donor's lifetime.
Some of the benefits of a Donor Advisory Fund include:
Unlike a foundation, this fund offers privacy and confidentiality.
Unlike a foundation, there is no need for yearly tax calculations and determinations.
A full charitable tax deduction can be made for the value of the gift. (The minimum amount for a Donor Advisory Fund is $50,000.)
If the gift is funded with appreciated securities, capital gains taxes are avoided.
The donor gets to decide to which charities the earnings should be sent. (Over 50% of the earnings have to benefit a Diocesan entity. All earnings must go to charities whose missions and philosophies follow the teachings of the Catholic Church.)
Donors decide if they want to remain anonymous to the charity or not.
A simple Letter of Intent establishes the Donor Advisory Fund, and needs to be approved by the Bishop of Reno.
BENEFITS OF AN ENDOWMENT PROGRAM
Having an endowment program can be a win/win situation for the Donor and to the Diocesan entity.
A Winner for the Donor
Provides an opportunity for a donor to make a tax-wise planned gift. See benefits of planned giving.
Offers a new way for a donor to give.
Gives the donor the satisfaction of knowing his or her gift will continue to be helpful - in perpetuity.
Allows the donor to experience deep fulfillment, giving his or her a sense of "life value" and "eternal impact" that simply cannot be achieved by any other means.
Insures that the donor?s wishes will be respected as established in the Endowment Operating Policy.
A Winner for the Diocesan Organization: Provides a new source of revenue for the organization in two ways.
The vast majority of gifts to an endowment represent revenue that is not normally received via standard fund-raising efforts or Sunday collections. Donors to endowment funds may make the gift of their lifetime through a planned, tax-wise donation via a Charitable Trust, Bequest, Appreciated Stock, or other planned gifts.
The annual earnings from the Endowment will continue to be a source of revenue - in perpetuity.
May help keep the charitable entity viable during rough times. If institutions have strong endowments, they can often weather the "down years" providing a beacon of hope in the midst of turbulent times, and offer the warm light of Christ's compassion to so many.
For complete information please contact:
Chief Development Officer
Diocese of Reno
200 S. Arlington Avenue, Suite 200
Reno, Nevada 89501
Telephone: (775) 326-9432 or (800) 255-0688 (in Nevada)