The Olympia Brown Society is a planned giving program that helps ensure the future support of our church. The Society is named in honor of Olympia Brown, who in 1863 was the first woman to graduate from St. Lawrence University theological school. Soon after, she became the first female minister of a major denomination when she was ordained by the Universalist church. Members of the Olympia Brown Society have made arrangements for a bequest or planned gift to our church after their death.
There are a number of other simple and very tax-effective approaches to planned giving, all of which will help our church continue to be a beacon and liberal presence in the North Country as it has for almost two centuries.
The most common is the bequest. Making a bequest is simple. Whether you are writing your first will or updating an existing one, you can name the church to receive a percentage of your estate, a specific dollar amount, or a particular item, such as real estate or art. A simple codicil to your will can ensure the church is included.
A gift from a living trust can accomplish the same and be established with an attorney.
Gifts of retirement assets are also very popular and very simple to arrange. Because of the taxable nature of retirement assets (they are taxed on withdrawal), many people have found it advantageous to name the church as a beneficiary of a portion of the retirement assets (IRA, 403-B, 401K), which helps save on income and estate taxes. This typically only requires adding the church as a named beneficiary.
In conjunction with the Unitarian Universalist Association, church members can also fund life income gifts. These are gifts that are made to the church by a donor who then retains the right to income from that gift during their lifetime. Benefits to the donor include a current tax deduction, often increased income from the funding asset, and the donor’s knowledge that a generous gift has been made to the church. The UUA helps our church with life income gifts such as charitable gift annuities, a pooled life income fund, and charitable trusts. Life income gifts can be funded with cash, stock, and real estate.
Bequests and planned gifts may be unrestricted or assigned to the church endowment, which provides a source of income as well as long-term security, and the capital reserve fund, which allows us to make necessary capital improvements to our building and grounds without invading the annual operating budget.
Members and friends who make a bequest or planned gift to the church are eligible for recognition as members of the Olympia Brown Society.
Bequests and planned gifts may be unrestricted or assigned to the church endowment, which provides a source of income as well as long-term security, and the capital reserve fund, which allows us to make necessary capital improvements to our building and grounds without invading the annual operating budget.
Members and friends who make a bequest or planned gift to the church are eligible for recognition as members of the Olympia Brown Society.