Ministry Bequest Program
We have many generous people who have been touched or impacted by one of our larger ministries or outreach efforts. These moments create a lasting impression which may lead to giving of time and financial support throughout their lifetime. And some may wish to leave their best, last gift to benefit the ministries they have loved so dearly. They most often do this through a bequest in their Will, or as a beneficiary designation through an insurance policy or individual retirement account (IRA).
The Ministry Bequest Fund allows an established diocesan ministry or outreach service such as Catholic Charities or Spirit FM 90.5 to invest these bequest funds over a period time and receive a better interest rate until needed.
- Designated governing body of the ministry/outreach service manages the fund and can request two (2) distributions per year.
- Funds can be distributed until the corpus is depleted.
- A higher interest is earned than in a traditional savings account.
Details to Consider
- Minimum contribution to initiate a new Ministry Bequest Fund is $10,000. Additional bequests may be added as received.
- For new unrestricted bequests only.
- Distributions can be requested in year two (2) on a fiscal year-semiannual basis, and 100% can be distributed at the end of year five (5) to close the account if leadership requests this.
How We Assist
- Work with donor to provide bequest language and define purpose of the gift.
- Work with beneficiary to communicate areas of need to potential donors.
- Draft contracts and manage Fund establishment (if new).
- Facilitate calculation and distribution of bi-annual distribution to beneficiary.
- Report to beneficiary on fund performance and use of distributions from the Fund.
To learn more about supporting your favorite diocesan ministry or outreach service through a Ministry Bequest Fund, please complete our Legacy Form.