Our church has established an endowment fund, and we welcome gifts under wills, trusts, insurance policies, and other instruments to build this fund for the future benefit of our church. Gifts of cash or stock may also be directed to the endowment fund.

With even a small initial gift, you can create a permanent legacy. The endowment fund is intended to be a perpetual source of income in support of the church’s ministries and missions.

If the intent is for the gift to go toward our endowment, that should be clearly stated. Endowment indicates a permanent restriction on the use of the funds, with only earned income being utilized in accordance with church policy.

The FPCY tax id is 13-1871392

Remember: As with all financial decisions, a gift should be designed with care. When considering gifting, speak with your tax, legal, or financial advisor. The First Presbyterian Church of Yorktown does not render legal, tax, or financial advisory services.

Give Now: Outright Gifts

Cash

An outright gift of cash provides a deduction from your taxable income.Gifts can be made in memory of, as well as in honor of, loved ones, making the gift even more meaningful for the giver.

Minimize gift planning
Full charitable deduction

Your discretion, designated to “Endowment” either by check or online

Appreciated Securities

An outright gift made by transferring securities to the church, potentially provides both a tax deduction for the gift and avoidance of capital gains taxes.

Avoid capital gains taxes
Remove asset from estate

To make the transfer, contact:

Your financial advisor or attorney
The church

By phone: (914) 245-2186

By email: office@fpcyorktown.org

Income: Gifts that Pay Back

Gift Type	Summary	Goals	Next Steps
Living Trusts	Also called Intervivos Trust, properly drafted can be an excellent tool for estate planning and for making gifts to the church. The gift can be of any size while paying income to you and your family. Several types of trusts qualify for favorable estate tax and gift tax treatment.	Reduce estate taxes Provide income to yourself and your family	Consult your financial advisor and attorney

Estate Gifts

Gift Type	Summary	Goals	Next Step
Bequests by Will	A gift to the church through your will (or revocable trust) enables you to retain the asset during your life and provide significant support when you no longer require the asset. You may choose a specific value, percentage or the residual value of your estate. Please let the church know your intentions.	You retain the asset and its use May change at any time Leave a specific amount or percent Federal estate tax exempt	Make Will or Add Codicil, and Communicate with the church: By phone: (914) 245-2186 By email: office@fpcyorktown.org Consult with your financial advisor and attorney
Retirement Assets	In some cases, retirement plans can be the best asset for a donor to leave to the church. Retirement assets can be taxed up to 70% upon inheritance. Naming the church as the beneficiary can avoid that taxation as assets can pass tax free to charitable organizations. You may reserve lower taxed assets to bequest to your heirs.	No estate or income taxes for the church. Leaves other more favorably taxed assets to heirs.	Obtain a Beneficiary Designation Form from your plan administrator. Consult with your financial advisor and attorney. Communicate with the church: By phone: (914) 245-2186 By email: office@fpcyorktown.org
Beneficiary Designation	Designate the church as a beneficiary of an account or policy. This is a simple and inexpensive way to remember the church in the future. Consider:INVESTMENT ACCOUNTS “TOD” or “Transfer on Death”: At death this designation immediately moves designated investment securities to a new owner – the church if you wish.BANK ACCOUNTS “POD” or “Payable on Death”: transfers bank account assets to the POD beneficiary. You may wish to consider a bank account not needed by heirs – to benefit the the church.	Retain complete control of the asset during your life. Change the designation any time. Beneficiary designations can be primary, secondary or contingent, and they can be specific amounts or a percentage of the account.	Obtain a Beneficiary Designation Form from your Insurance or Financial Institution. Consult with your financial advisor and attorney.Communicate with the church: By phone: (914) 245-2186 By email: office@fpcyorktown.org
Life Insurance	If your insurance policy is no longer needed, you could simply change the church to be the primary beneficiary of the existing policy. If your loved ones still need the security of the policy, consider listing the church as a contingent beneficiary.	The benefits of your life insurance policy can pass to the church free of federal estate tax Beneficiary designations can be primary, secondary or contingent, and they can be specific amounts or a percentage of the account.	Obtain a Beneficiary Designation Form from your Insurance or Financial Institution. Consult with your financial advisor and attorney.Communicate with the church: By phone: (914) 245-2186 By email: office@fpcyorktown.org
Testamentary Trusts	Trusts may also be established through your will. Beneficiaries receive income for life or for a period of years and the church receives the remainder.	Reduce estate taxes Provide income to yourself and your family	Consult your financial advisor and attorney Communicate with the church: By phone: (914) 245-2186 By email: office@fpcyorktown.org

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