Contribution Opportunities

There are several ways to make a contribution to the Cathedral of Saint Paul in support of its ministries, ongoing preservation needs, endowments and special projects. If you are interested in making a gift to the Cathedral of Saint Paul, contact the Development Office at 651-228-1766 extension 22 or email the Cathedral at info@cathedralsaintpaul.org.

Cathedral Memorabilia
Memorial and Honor Gifts

Outright Gifts

Cash. Cash, usually in the form of a check, is the most common and popular type of gift. Gifts of cash may be deducted from taxable income when they are made, as long as the donor itemizes his or her deductions. The State of Minnesota now allows non-itemizers a tax deduction of 50% for gifts in excess of $500. Savings from the deduction depends on the donor’s tax rate and generally, the higher the tax rate, the greater the savings.

Pledges. Many donors choose to support the ongoing preservation needs and special projects of the Cathedral of Saint Paul through a pledge schedule to be paid over a three to five year period. Pledging allows the donor to make a larger gift stretched out over several years and in a schedule convenient for the donor. The Cathedral benefits from a pledge by knowing it has a solid, predictable base of support.

Matching Gifts. Many corporations will match a gift an employee makes to his or her favorite charity. Matching gifts are typically equal to the donor’s gift, although some match at a greater level. The donor must obtain the company’s matching gift form and send it with the gift to the Cathedral of Saint Paul. Check with your company to see if they match gifts to the Cathedral.

Other Ways to Give

Appreciated Securities. Appreciated securities, or stock, gifts provide the donor with significant tax advantages. The long-term capital gains tax is eliminated, and the donor is entitled to a deduction equal to the fair market value of the securities. Tax considerations make it more beneficial to contribute the appreciated securities directly to the Cathedral of Saint Paul rather than selling and donating the proceeds of the sale.

Appreciated Property. Donated property that increased in value also enjoys a tax advantage. Benefits to the donor include a full fair market value charitable deduction, up to 30 percent of the adjusted gross income, with a five-year carryover provision and no capital gains tax on the property’s appreciation. Gifts of appreciated property are credited at their apprised value at the time the gift is made.

Planned Giving (Legacy Gifts)

Described below are some of the most common ways that a donor can leave a legacy gift to the Cathedral of Saint Paul. For more information on these and other planned gift opportunities for the Cathedral of Saint Paul, contact the Development Office at 651 228-1766 or email the Cathedral at info@cathedralsaintpaul.org.

Bequests. A bequest, or gift by will, is the easiest and most effective means to ensure that a donor’s assets are distributed as they wish. Gifts by will, both large and small, provide long-term support of the ongoing work of the Cathedral of Saint Paul. A donor can leave a specific asset, a percentages of the total estate or the remainder of the estate once the other beneficiaries are taken care of.

Charitable Gift Annuity. A charitable gift annuity is an agreement between the donor and the Cathedral of Saint Paul whereby the donor transfers cash or other assets to the Cathedral in exchange for a guaranteed lifetime annuity income. The amount of the guaranteed income is based on the age of the beneficiary or beneficiaries at the time of the agreement. A portion of the gift is tax deductible and part of the annual income is tax-free.

Charitable Lead Trusts. Charitable lead trusts are created to provide assets for the use of the Cathedral of Saint Paul for a limited period of time. Funds are invested to provide an income to the Cathedral. The assets are returned to the donor or to the estate at the end of the designated period. A lead trust can fulfill a pledge while reducing estate and gift taxes that might otherwise be due on assets given outright to the donor’s heirs.

Charitable Remainder Trusts. Charitable remainder trusts provide an income to donors and beneficiaries, and upon death of the beneficiaries or the termination of the term of the trust, the remainder is transferred to benefit the Cathedral of Saint Paul. Donors receive an income tax deduction based upon the present value of the remainder interest passing to the Cathedral.

Life Insurance. This option names the Cathedral of Saint Paul as the irrevocable beneficiary and owner of a paid-up life insurance policy. The donor receives an income tax deduction for the cash surrender value of the policy. If the policy is not fully paid, the donor may choose to continue to pay the premium. In this case, the donor could receive a tax deduction for the annual premium.

Donor Counsel

The Cathedral of Saint Paul will be pleased to explore options with prospective donors regarding how they may wish to make a gift. Prospective donors are strongly advised to consult with their legal/financial counsel. Such counsel can help the donor make the largest possible gift for the Cathedral at the least possible net expense to the donor. Personal financial circumstances vary considerably and must be considered in order to receive maximum benefit from the tax laws.

John Ireland Heritage Society

The John Ireland Heritage Society recognizes all those who have made a legacy gift to the Cathedral of Saint Paul through a bequest or any of the other planned giving vehicles. For more information on how you can become a member, contact the Development Office at 651 228-1766 or email the Cathedral at info@cathedralsaintpaul.org.

Recognition

The Cathedral of Saint Paul appreciates all contributions and recognizes gifts to the Cathedral’s preservation.  All gifts will be recognized in the Cathedral’s Campaign Annual Report. Special gift recognition and limited naming opportunities are also available. For more information contact the Development Office at 651 228-1766 or email the Cathedral at info@cathedralsaintpaul.org.