SCI works with the Episcopal Church Foundation (ECF) to administer specialized gifts like pooled income funds, charitable gift annuities, and charitable remainder trusts. This partnership allows donors the ability for confidential consultation to review gift vehicles and to have ECF craft trust documents at no expense for review by your legal and financial advisors. As donor, you can contact SCI for initial conversation, followed by referral to ECF. Alternately, you can contact ECF directly, with or without SCI’s knowledge. If you contact ECF, your conversation remains confidential with ECF unless—or until—you authorize ECF to share information with SCI.
You can reach ECF via email at [email protected] or you can phone at +1 800-697-2858.
For possible gift modeling scenarios, please go online to episcopalgifts.org.
A charitable gift annuity creates a simple contract between you and SCI’s partner, the Episcopal Church Foundation (ECF). In exchange for your irrevocable gift of cash or marketable securities, ECF agrees to pay one or two annuitants whom you designate a fixed annuity for life, and your annuity is backed by all of ECF’s assets. Also, you will be entitled to an income-tax deduction in the year you make the gift. After the death of annuitant(s) specified in the original contract, SCI receives the remaining principal assets to further its mission to mariners.
At ECF the minimum age to start receiving annuity payments is 55. However, you can establish a charitable gift annuity at a younger age and defer the start of annuity payments to age 55. The minimum amount to establish a charitable gift annuity at ECF is $5,000.
A charitable remainder trust helps you achieve your current and long-term financial, estate and philanthropic goals. A donor makes an irrevocable transfer of cash, stock, real estate or other assets to a trust that produces income for the donor or other beneficiaries, either for a fixed period of time of up to twenty years or until the death of the donor or other beneficiaries. At the conclusion of the trust period, the remaining principal assets will be distributed to SCI.
A charitable remainder trust allows you to designate one or more recipients of regular payouts from trust proceeds (for either a fixed dollar amount or a fixed percentage) during your lifetime or for a period of time not to exceed twenty years. At the same time, SCI is designated a remainder beneficiary. This allows you to claim a tax deduction for the estimated portion of the assets that ultimately go to SCI upon death or the expiration of the fixed period.
In a pooled income fund, your gift of $2,500 or more is “pooled” with other gifts in a professionally managed investment portfolio. You or your designated beneficiary are guaranteed an income for life, although the amount of income depends on the rate of return on the fund’s investments. You receive an immediate federal income tax deduction and a possible reduction on your estate taxes. Upon your death, or that of the final beneficiary, the remaining property comes to SCI.
The charitable lead trust is another estate planning tool for wealthy individuals that enables you to transfer assets to a trust that pays its income to SCI for a set period of time. At the end of the term, the principal and all capital appreciation returns to you or others you name. This complex, taxable Trust typically holds assets of $1 million dollars or more.