What Does it Mean?
The financial industry often uses jargon that is not always familiar to those outside the organization. We have provided a quick reference guide to define commonly used terms found in our materials. Click on the terms below to learn their meaning.
person, place or entity; often left from your estate
Beneficiary Designation Gift
allows the donor to make a lasting gift. Designate the charity of choice as a beneficiary in a will, retirement, investment, or bank account or in a life insurance policy.
naming a person or charity specifically in your will.
Charitable Gift Annuity (CGA)
investment account where donor receives a specified payment for life, and at their death, leaves the remainder to charity.
initial amount of a gift to be invested.
Donor-Advised Fund (DAF)
charitable investment account used by a donor to support multiple IRS qualified 501(c)(3) organizations, over a period of time while receiving an immediate tax deduction.*
*Please consult with a tax professional as to personal tax circumstances.
lump sum donation that is invested, and the investment income is used to support a beneficiary. Examples include: building upkeep, future repairs, major programs, outreach efforts, tuition assistance, scholarships, etc.
complete collection of personal assets and liabilities.
legal process for establishing what you want to happen in regards to your personal care and management of your assets, as well as transfer of wealth to family/heirs/beneficiaries at the time of your passing. Accomplished with a will and the assistance of an estate planning attorney.
IRA Charitable Rollover
yearly required minimum distribution used to support your favorite charity.
IRS Data Terms
please click here to view the data terms defined by the IRS.
gift resulting from Legacy Planning.
decisions you make and steps you take to ensure the future of your family/heirs/beneficiaries and distribute the wealth you currently have and will have acquired at the time of your passing.
decisions you make and steps you take to ensure your spouse/significant other/family know your wishes for health care decisions for regular and end of life care, as well as your death and funeral.
gift of $3,000 or more given to any entity within the Diocese of St. Petersburg.
funds in which the Foundation oversees investments for another diocesan entity. For example: Parish Life Funds, Trusts, Bequest Funds, Donor-Advised Funds (DAF), Charitable Gift Annuity (CGA).
funds in which the corpus is owned by the Foundation and invested for beneficiaries. Interest earnings support beneficiaries.
intentionally planning now for gifts that will come later.