For generations, members of Fifth Avenue Presbyterian Church have offered thanks for the faithfulness and fellowship they have found in this congregation. By remembering the church "at the end of their days," they have helped to sustain our ministries.
Planned giving is a way that each of us can make a final tithe, a return to God of some portion of all that God has given to us. The practice of planned giving encourages us to look beyond our monthly budget and our annual pledge to consider the gifts we will make to the church when our need for worldly assets is done.
For many of us, our final gifts will be the most significant gifts we will ever make. We hope that you consider this church as your legacy—a blessing in your life, and one that you will gratefully pass along.
We recommend that you consult with your financial advisor to determine the most advantageous charitable estate plan for you.
Gift in Your Will
Perhaps the simplest way to remember Fifth Avenue Presbyterian Church in your planned giving is through a bequest in your will. Almost any kind of gift you might leave to a family member or beloved friend—gifts of cash, stocks, mutual funds, life insurance, retirement funds, annuities and trusts—may also be left to the church.
More than half of all Americans (including nearly 80% of adults under age 35) do not have a will. If you die intestate, your assets will be apportioned according to state law—which may or may not conform with your wishes. By making a will, you help provide for the people and places who mean the most to you.
Gift of Assets
Life insurance policies, retirement accounts, savings accounts and other assets are also potential avenues of providing for the church.
A life insurance policy that is no longer needed for your family’s security may be given to Fifth Avenue Presbyterian Church. You may name the church as a contingent beneficiary of an existing policy, or you may purchase a new policy and designate the church as the owner and beneficiary.
You may also designate the church as a beneficiary of your retirement plan or Individual Retirement Account (IRA). And if you have savings accounts, annuities or certificates of deposit, you might consider naming the church as beneficiary when assets are released after your death.
In addition to supporting the church, each of these avenues may provide meaningful tax benefits for you. We encourage you to speak with your attorney or financial advisor to determine how you can take advantage of any of these options.
Life Income Gifts
There are a number of ways you can make a gift to Fifth Avenue Presbyterian Church and provide income for yourself or a family member at the same time.
A Charitable Gift Annuity is a contractual agreement in which you or a beneficiary will be paid a fixed payment for life in exchange for your irrevocable gifts of cash, securities or other assets to Fifth Avenue Presbyterian Church.
A Charitable Remainder Trust is an irrevocable trust in which you or a beneficiary will be paid either a fixed or variable payment for life or a certain number of years in exchange for your irrevocable gifts, after which the remaining assets pass to Fifth Avenue Presbyterian Church.
In a Pooled Income Fund, your gifts are pooled with others and invested in a professionally managed portfolio. You or your beneficiary receive a guaranteed, lifetime income based on your share of the pool. The church would receive any assets remaining following your death or the death of the beneficiary.
Life income gifts often provide tax advantages and other benefits. A qualified financial advisor can help you determine which type of life income gift is your best option and guide you through the process.
While not typically regarded as “planned giving,” pew dedications are nevertheless a way to provide for the future of the church by remembering those who have helped sustain it. You may dedicate a favorite pew in our Sanctuary as a memorial to a loved one, in honor of a fellow member of the congregation, or simply to leave your own, lasting tribute to the church.
The cost to dedicate a pew (including an inscribed bronze plaque), is $10,000. Proceeds are placed in a special fund for the preservation of the Sanctuary. Dedicating a pew can be a meaningful way to express your gratitude for the many decades that this sacred space has been a place of worship and hospitality.
The Legacy Circle
Fifth Avenue Presbyterian Church established the Legacy Circle to recognize and thank all members and friends who have remembered the church in their planned giving. We invite you to become part of this expanding circle of generous and caring individuals who have made a commitment to the future of our church.
Any gift or bequest you have made to the church through your estate planning or planned giving qualifies you for immediate membership in the Legacy Circle. If you have made such a gift or bequest, please let us know.
We honor the members of the Legacy Circle every year on “Legacy Sunday” in the spring. We invite you to join us!