The Church of Saint Mary the Virgin

 Planned Giving & Legacy Society

Qualified Charitable Donations
during your lifetime

Beginning at age 72, you must withdraw a required minimum distribution “RMD” from your IRA even if you don’t need the money for living expenses. There is a penalty if the money is not withdrawn. If you do not need the RMD for living expenses, you can contribute some or all to Saint Mary’s as a qualified charitable deduction “QCD” and reduce your taxes by more than you would with a tax-deductible contribution. Donating the QCD lowers your adjusted gross income “AGI” by the amount of the donation and therefore lowers your federal income tax. People between 70.5 and 72 are not yet required to take an RMD, but they can still give up to $100,000 a year as a qualified charitable deduction. This alphabet soup produces a great benefit for you and for Saint Mary’s. Speak to the Administrator of your IRA to arrange this distribution.

Bequests for after you are gone

In 1868, John Jacob Astor gave Father Brown three lots on West 45 Street, requiring and enabling our church to be “free,” not to charge pew rents. In 1892, Miss Sara L. Cooke, a member of the parish, left a legacy to Saint Mary’s, one that ultimately exceeded $700,000, far exceeding the construction cost for our present building. While your legacy may not be financially so grand as theirs, it is as important as theirs, and it is your commitment that keeps Saint Mary’s doors open and Saint Mary’s thriving after you are gone.

...When you make a will, you can dictate the use and distribution of your assets to benefit your loved ones after your death, create healthcare and financial proxies, make known your wishes for your personal possessions including your pets, make funeral arrangements, and of course create a legacy for organizations like Saint Mary’s that matter to you. One way you can recognize Saint Mary’s is to designate a gift in your will, whether of cash, stocks, bonds, or other assets. You can also make Saint Mary’s a designated beneficiary of your life insurance policy, retirement fund, or IRA with a simple change to the account’s beneficiary line. Discuss your options with an estate attorney.

... After you create a legacy for future generations, notify Saint Mary’s and we will include you as part of the Saint Mary’s Legacy Society, a group designed to honor those who are providing for our open doors in the future.

Saint Mary’s Legacy Society

From John Jacob Astor, Sara L. Cooke and Haley Fiske to today, Saint Marians have cared about keeping our doors open and have remembered us in their wills. For many years, we have honored those who make a legacy commitment with membership in our Legacy Society. We give thanks to members through public recognition (with their permission), small gifts and a Legacy Society reception once a year or more.

We honor this group of individuals, listed alphabetically, who have already included Saint Mary’s in their estate plans and given us permission to publish their names:

Legacy givers in the recent past include:

Rest eternal grant to them, O Lord:
And let light perpetual shine upon them.

All gifts to Saint Mary’s are fully tax deductible.
We are a registered 501(c)(3) nonprofit organization whose Federal Tax ID is 13-1624187.
If you have questions, please call the Parish Office at 212/869-5830, ext. 10.