As leaders in the Church, most vocational deacons serve without remuneration, and as a result, may be struggling financially. In retirement, deacons who have given their lives to ministry might be unable to provide for their own needs. Or they’re facing expenses from a medical or declared emergency such as a hurricane. Those in formation also face expenses such as tuition, childcare, books, retreats, etc. The Fund for the Diaconate encourages Planned Giving as a means to directly assist these Episcopal deacons, because the gifts fund grants that make an immediate difference in their lives.
Planned giving with The Fund enables anyone to leave a legacy that will directly benefit deacons. The Fund offers three methods of Planned Giving:
- Bequests. Individuals can include The Fund for the Diaconate of The Episcopal Church in their will. When family changes occur – such as marriage, birth, adoption, divorce, death, etc. – it’s a good time to revisit estate plans to update your wishes.
- Qualified Charitable Distribution from an IRA.Those who are at least 70½ years old may direct their retirement plan manager to send up to $100,000 of their IRA to The Fund, as an IRS qualified charity. For those who are at least 72 years old, doing so will avoid their having to pay income tax on that portion of their Required Minimum Distribution (RMD). The Fund suggests those interested review the IRS website for detailed information.
- Beneficiary Designation. Naming The Fund as the beneficiary of a retirement account is a wonderful and tax-efficient way to make a planned gift to support deacons in financial need. It’s relatively simple to update beneficiaries with retirement plan administrators.
Please view this document for more information. https://www.fundfordiaconate.org/uploads/7/1/5/9/71590213/plannedg-flyer-print.pdf and visit the website to begin the process. https://www.fundfordiaconate.org/planned-giving–donating.html
Through grants, The Fund for the Diaconate performs a vital service by assisting deacons – working, retired, in formation or disabled – who have insufficient funds for their needs.