Hello St. Paul’s,
You may already know that nearly 10% of the operating income of St. Paul’s Cathedral comes from invested funds, rather than from current pledges and gifts. The vast bulk of those funds have come to us through the planned giving of parishioners in past times: they remembered the Cathedral in their estate plan, and we continue to benefit from their generosity long after they have gone to their eternal reward. This income is critical for our ministry, and we all owe our forebears in the church a great debt of gratitude. Now it’s our turn to continue that good work, through our own planned giving.
The Book of Common Prayer requires clergy to remind their congregations of their responsibility to make provision their families and also for “religious and charitable uses” in their wills or trusts (BCP p.445). If you would like the Cathedral to continue to benefit from your generosity to the same extent as it does now, you might bequeath an amount equivalent to 25 times your annual pledge (provided it doesn’t create hardship for your other heirs). At a 4% annual yield, that would approximately equal your current pledge. Of course, we are grateful for any bequest!
At a recent Sunday forum, Jim Murphy of the Episcopal Church Foundation shared some valuable information about our options for planned giving. The link to the recording is here. I urge you to view the video, as an aid to your own discernment. Thank you for your support!
Your sister in Christ,
Penny
