Legacy Society
The Colorado Episcopal Legacy Society was created by the Colorado Episcopal Foundation to promote and support the faithful stewardship of God's gifts and resources in local congregations through the creation of legacy societies in churches throughout the diocese.
What Is a Legacy Society?
A legacy society is comprised of a group of individuals who have remembered their church as one of the primary beneficiaries in their will, or who have made some form of permanent gift to their church. Everyone who joins, or is already a member of their church's legacy society, automatically becomes a member of the Colorado Episcopal Legacy Society.
What Is the Relationship Between a Church Legacy Society and the Colorado Episcopal Legacy Society?
The Colorado Episcopal Legacy Society operates as an umbrella organization, providing education and support for individual legacy societies in Episcopal churches throughout Colorado.
Why Is a Legacy Society Important?
- A legacy society raises awareness of planned giving in the congregation and diocese and offers opportunities for individuals to witness to their good stewardship in supporting the future life and ministry of the church.
- A legacy society provides an opportunity to acknowledge and thank donors during their life times for making a bequest to their church.
- A legacy society helps a parish to stay connected with its donors, some of whom may be less involved or who may not attend church as regularly as they used to.
- A legacy society promotes our diocesan vision of being one, strong, growing serving church.
What Kinds of Gifts Can Be Given?
There are numerous forms of permanent gifts, such as:
- A Will: Provides for family first, and then remembers the church and other charities in the form of a bequest.
- A Charitable Gift Annuity: Simplest form of planned gift. Provides donor with fixed income stream for one or two lives with remainder to church at death.
- A Charitable Remainder Trust: Provides the donor with flexible options for life income, and then afterwards makes a major gift to the church.
- A Gift of Life Insurance: Names the church as beneficiary of an existing policy or a new policy.
- A Gift of Retirement Assets: Names the church as one of the primary beneficiaries of a retirement account.
Can Gifts Be Designated to Other Episcopalian Entities?
Yes, in addition to remembering ones own Episcopal congregation, the Diocese and/or an institution of the wider Episcopal Church can be designated.
What Is Involved in Creating a Church Legacy Society?
Most importantly a desire to create one. The time investment involved is reasonable and quite "doable." The Colorado Episcopal Foundation will be there every step of the way to help congregations get their own legacy societies up and running. Regular trainings will be scheduled throughout the state, and excellent written materials, and on-going support will be provided.
Stories of Parishioners Who Have Left a Legacy:
R U T H
Ruth, a woman in her 90s, who was a long-time member of St. Aidan's in Boulder, cared deeply about her church and her community. When she died recently, she left a legacy for each of those groups. St. Aidan's, the first church in the Diocese to form a Legacy Society under the current program sponsored by the Colorado Episcopal Foundation, automatically made Ruth a founding member of the Aidan Legacy, along with other members of the congregation who have made provision for permanent gifts to St. Aidan's. By planning where she wanted her money to go, Ruth made sure that those people and organizations she cared deeply for during her lifetime were provided for in her estate—her estate plan clearly reflected the values and passions of her life.
F R A N K
After hearing about the importance of a legacy society, Frank, a member of a congregation in the mountains, wanted to make a permanent gift to his church. Since he and his wife had recently finished some expensive estate planning, Frank decided to make his church the beneficiary of one of his life insurance policies. His children are grown and his wife has plenty of other assets for her lifetime, which makes this form of gift an ideal vehicle.
For Legacy Society forms, click here.