A Legacy of Giving

Deferred gifts or bequests to Friends Meetings and Friends organizations are vital to the future of The Religious Society of Friends. General Contributions of all sizes are needed and welcomed at all times. One does not have to be “wealthy” in order to make a meaningful gift.

 Planned Giving, through Friends Fiduciary Corporation (FFC), provides another opportunity for generous donors to make gifts, distinct from their annual contributions, in support of the work of a Meeting or other Friends organization. Several planned giving vehicles can also preserve an income stream during the lifetime of the donor, or other designated income beneficiary. The principal remaining at the death of the income beneficiary transfers to the selected Meeting and/or Quaker organization at that time.  

FFC can help Quaker nonprofits build their planned giving program by freeing them from the burden of complex administration and allowing you to concentrate on identifying and cultivating donors. We currently offer the several types of planned gifts listed here. Please call for additional information.

Charitable Gift Annuity

A charitable gift annuity provides a fixed lifetime income payment to the donor(s) or to one or two life income beneficiaries that the donor(s) may designate. In addition, the donor(s) will receive federal income tax benefits. Annuity rates are tied directly to the age of the income beneficiary at the time the gift is made. The older the annuitant is at the time of the gift, the higher the rate. The minimum gift for an annuity is $5,000. The minimum age for the annuitant is 50.

Deferred Payment Gift Annuity

Deferred gift annuities provides for fixed lifetime income in the same way as a standard annuity except that the donor defers the beginning of payments for a stated number of years. The donor can receive an immediate income tax deduction, while deferring the income payments until his/her retirement. Deferred Annuities entitle the donor to a higher rate annuity payment. In the interim period, the gift accumulates under professional investment management.

Charitable Remainder Trusts

For gifts of $250,000 or more, a charitable remainder trust could be considered. Charitable remainder trusts provide a fixed or variable annual income depending on the type of trust you choose.  The payout rate is determined jointly by the donor and Friends Fiduciary Corporation. Upon the death of the last income beneficiary, the balance of the trust’s assets will be given to the designated Meeting and/or Quaker organizations.

Donor Advised Fund

Donors who wish to receive a charitable deduction now and be more actively involved in furthering their philanthropic goals can begin a donor advised fund with a minimum of $50,000.  Once established donors or their designated successor/advisory committee can advise or make grant recommendations for charities to receives grants from the fund. FFC oversees grant distribution, investment management and final beneficiary payout.

Benefits of Contributing Appreciated Securities

If appreciated securities were sold in order to make a charitable gift, payment of capital gains tax on the proceeds of the sale would be required. Only the balance would be available to use in making a gift to a Meeting and/or Friends organization, whose work a donor would like to support. By transferring the appreciated securities directly instead of the cash, the donor (1) can defer the capital gains tax and (2) is able to take a charitable deduction for a portion of the total fair market value of the securities contributed.

Deductions and Roll-Forward