Planned Giving

An Enduring Gift. A Sustaining  Legacy

PLEASE CLICK HERE FOR A DOWNLOADABLE BEAUTIFUL NEW AND INFORMATIVE PLANNED GIVING BROCHURE 

Faithful to the charism of our Founder St Paul of the Cross, the Mission of the Passionists is to preserve, maintain and keep alive in our world today the love of Jesus Crucified as seen in His Sacred Passion. This mission is rooted in prayerful community life and is expressed in collaborative ministry to the people of God in all walks of life especially to the poor and suffering. For over 300 years, The Passionists have made a special promise to promote the memory of the Passion of Jesus by word and deed. They do this especially in preaching and various ministries among the poor, and the marginalized of every kind in whom they see as the “Crucified” of today.

Many organizations have found that Planned Giving is one of the best ways to ensure the on-going success of their mission & programs. Planned Giving can be the financial “safety net” we at The Passionists need to provide services to those crucified in our local communities & around the world—wherever there is a need, The Passionists are WITH YOU. On a more practical level, Planned Gifts help us to make critical improvements to our Retreat Houses, mission facilities and provide vocational training funds for Passionist students & healthcare for our aging priests. Planned Giving can help The Passionists safeguard St. Paul of the Cross’ centuries old foundational mission for generations to come. By deciding to be a “planned giver,” you will help multitudes of people in need & you will also be named a founding member of the Preservation of Christ’s Passion Society.

As a simple definition, Planned Giving is the means of creating charitable gifts for you to support your philanthropic priorities & simultaneously minimize your after-tax costs. These type of gifts to The Passionists will help preserve the mission that has helped millions for hundreds of years.

The most common types of planned gifts:

  • Bequests Through Will or Trust: Designate The Passionists as beneficiary of a bequest or gift by the terms of the donor’s will. Gifts of up to $100,000 directly from your IRA to a qualified charity such as The Passionists can be given without having to pay taxes on the money.
  • Required Minimum Distribution (RMD). As you reach age 72, you generally have to start taking withdrawals from your IRA or other retirement plan accounts. The "RMD" is the minimum you must withdraw from your accounts each year & can be used to provide gifts to The Passionists & further minimize tax burdens.
  • Life Insurance: You may elect to name The Passionist Missionaries as the owner and beneficiary of a policy.
  • Securities & Real Estate: Gifts of appreciated property such as securities (i.e.: stock transfers) & real estate are popular alternatives to cash gifts & can generate a double tax benefit. A simple form to be completed for this process can be obtained by clicking here: Passionists Stock Donation Form  For more info contact Joseph Geraci, Director of Development & Mission Fulfillment at [email protected] or by calling 929-419-7501. 
  • Retirement Plan Assets: Retirement plans owned by the donor may be gifted to The Passionist Missionaries upon the donor’s passing. These might include Individual Retirement Accounts (IRA), 401(k), 403(b), & defined contribution plans.
  • Charitable Gift Annuities: A charitable gift annuity is a contract between you, the donor & a qualified charity, in this case The Passionists, in which the donor makes a gift to the charity. In exchange, The Passionists assumes a legal obligation to provide you, the donor, with a fixed amount of monthly income until death. By definition, a charitable gift annuity is referred to as a “split gift.” Part of your gift will be used by The Passionists immediately for its charitable purposes & part of the gift is set aside in a reserve account to be invested to support your future income payments. These payments include earnings on the reserve account along with a return of a part of the principal in the reserve account. The proportion of these payments (the % that is considered as a return of principal vs. earnings) will depend upon your age.

Sample Language for Your Will

*Sample Language for you to include in your will--please consult your attorney or accountant for more information:

Specific Gift Language:

I give and bequeath the sum of $____ (or ____% of my residuary estate - or asset) to The Passionists Benevolent, Educational and Missionary Institute Inc. (Tax ID #22-6034713), located in Jamaica, New York, to be used for ________ (i.e.: Thomas Berry Place Campaign; ongoing healthcare programs for the elderly priests; etc.).

Residual Gift Language:

(A residual bequest comes to us after your estate expenses and specific bequests are paid)

I give and devise to The Passionists Benevolent, Educational and Missionary Institute Inc.(Tax ID #22-6034713), located in Jamaica, New York, all (or a %) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).

General Gift Language:

I give and bequeath the sum of $____ (or ____% of my residuary estate - or asset) to The Passionists Benevolent, Educational and Missionary Institute Inc. (Tax ID #22-6034713), located in Jamaica, New York, to be used for its general support (or for the support of a specific fund or program).

 

Preservation of Christ’s Passion Society

The Preservation of Christ’s Passion Society was established to honor those who have made the visionary decision to make provisions for The Passionists in their will or through other planned giving vehicles.