Planned Giving

What Is Planned Giving?

Understanding Planned Giving

Planned giving works by allowing individuals to make charitable contributions to an organization, such as a
church, through arrangements made in advance as part of their estate planning or financial strategy. These gifts are typically larger than regular donations and are often distributed after the donor’s death or at a later time, though some types can benefit the donor or the church during the donor’s lifetime.

The process begins when an individual (the donor) decides to make a planned gift to a charity, such as the Diocese. This decision is often part of the donor’s larger financial or estate planning and may be based on personal values, a desire to leave a legacy, or a wish to support the church’s mission after they are gone.

The donor then selects a specific type of planned giving, each with different structures and benefits.

Reasons for Planned Giving

What is planned giving through the Chaldean Diocese?

Planned giving refers to a method of supporting the Diocese through charitable donations that are arranged in advance, often as part of an individual’s long-term financial or estate planning. Unlike one-time or recurring donations, planned giving typically involves gifts that are made through a person’s will, trust, or other estate planning tools.

Why should I establish planned giving for my Diocese?
  • Being part of planned giving for your Diocese can offer both spiritual and practical benefits.
  • Planned giving allows you to make a meaningful, long-term impact on your church’s mission and ministries. By contributing through your estate or as part of your financial planning, you can help
    ensure the future growth and stability of the church, supporting its programs, outreach, and community impact for generations to come.
  • By participating in planned giving, you directly contribute to the continued work of the church—whether it’s supporting youth programs, community service projects, building maintenance,
    or missions work.
  • Since many planned gifts come from your estate or assets, you can give a larger sum than through regular tithes or offerings. This is especially true if you are in a position where you are thinking about how to distribute your wealth after you’ve passed.
Is there any tax benefit to planned giving?

Planned gifts can offer substantial tax advantages. Depending on the type of gift you make, you could receive income tax deductions or reduce estate taxes. The Diocese benefits, and you also enjoy potential financial savings.

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Types of Planned Gifts

Bequests (in a will or trust)

A bequest is the most common form of planned giving. The donor specifies in their will that a portion of their estate (money, property, or other assets) will go to the Diocese after their death.

    • Specific Bequest: A donor names a specific amount or asset to be given to the Diocese.
    • Residuary Bequest: After the donor’s other bequests are fulfilled, the remaining portion of the estate is given to the Diocese.
    • Percentage Bequest: A donor leaves a percentage of their estate, rather than a fixed amount, to the Diocese.
Charitable Remainder Trust (CRT)

This type of trust allows the donor to place assets into a trust, which provides income to the donor (or their beneficiaries) for a set number of years. After that period, the remaining assets go to the church. A CRT can be a way to receive income while making a future gift to the Diocese.

Charitable Lead Trust (CLT)

A CLT works in the opposite direction from a CRT. The Diocese receives income from the trust for a number of years, and after that, the remaining assets go to the donor’s heirs. This option can help reduce estate taxes for the donor’s beneficiaries.

Donor-Advised Funds (DAFs)

These are accounts set up by the donor where they can make contributions during their lifetime. The funds can be invested and grow, and the donor can then recommend grants to their chosen charity (such as the Diocese) over time.

Gifts of Life Insurance

A donor can name the church as a beneficiary of a life insurance policy, meaning the Diocese will receive the proceeds of the policy after the donor passes away.

Retirement Accounts

The donor can designate the Diocese as a beneficiary of a portion or all of their retirement accounts, such as an IRA or 401(k). This can be a tax-efficient way to make a charitable gift, as retirement accounts are often taxed heavily when inherited by heirs.

Many donors consult with financial advisors, estate planners, or attorneys to help structure the planned gift in a way that fits their personal financial goals and tax situation. The Diocese has created a list of recommended advisors to help you get started today.

The planned gift is typically documented in legal paperwork, such as a will, trust agreement, or insurance policy. It’s important that the details are clearly stated, so that the church can fulfill the donor’s intent. Once the
donor passes away or after the designated period, the planned gift is “fulfilled.” The church receives the assets according to the donor’s instructions. These funds may be used for specific programs or needs, or they may be placed in an endowment fund for long-term sustainability. In some cases, the donor may also set up specific instructions for how the gift should be used—e.g., for a building fund, missions, or ministry programs.

In essence, planned giving works by helping donors make a significant contribution to their church through structured, long-term financial arrangements. The overall goal is to help the donor leave a legacy while providing lasting support for the Diocese’s mission.

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The Chaldean Diocese has 501(c)(3) non-profit exempt status;  our federal tax ID number is 38-2422281