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October 15, 2012 | Volume 87, Number 25

ARTICLES

Planned Giving helps create a legacy of giving

In early 2012 the Diocese of Richmond began developing a planned giving program designed to strengthen the short- and long-term financial position of the Catholic Church in Virginia. This program will allow for the diversification of revenue and the building of permanent revenue streams by creating endowments for specific ministries, as well as for the general needs of the Diocese.

It will also give our Catholic population unique opportunities to give to our parishes, our Catholic Schools and the Diocesan Church.

A planned gift allows an individual or family to ensure the health of the Diocese while also helping fulfill their personal financial objectives.

For those who would like to increase income, reduce income and/or estate taxes, avoid or reduce capital gains tax or pass on assets to family at a reduced tax cost, a planned gift can be a good option.

Since the Diocese has never conducted a formal planned giving effort, this specialized program had to be built from the ground up. To assist in this endeavor, the Diocese enlisted the help of volunteers to form a Planned Giving Council.

The ongoing goal of the Council is to provide, as an advisory body, financial, administrative, and professional expertise to Bishop Francis X. DiLorenzo and the Diocese in the area of planned giving.

In addition, they are asked to identify financial professionals to assist prospective donors with making planned gifts to the Diocese, its parishes and schools.

Devon Cury, CEO of Advancement Concepts in Richmond, is the chairman of the newly established Council established earlier this year.

“One of our main goals as the Council is to promote the highest level of professional conduct in the area of planned giving in addition to promoting a relationship of trust between the donor and the Diocese,” he said.

“As the Chairperson of the Council, it’s humbling and rewarding to know that what we’re working on today will have an impact on the lives of so many. The Diocese, the parishes and the schools face so many pressing needs.

“With all the short-term and long-term needs that can be met through promoting planned giving, our team is a key component in strengthening the Catholic Church”, said Mr. Cury.

Alex Previtera is the Director of Development for the Catholic Diocese of RichmondOver the final quarter of 2012, the Diocese will be working with Pentera, a leader in planned giving e-marketing solutions, to create a brand new planned giving website where existing donors and those who are interested in contributing a planned gift, can go to find more resources about the different types of vehicles the Diocese offers.

In addition, the Diocese, in conjunction with the Council, will be offering educational seminars on planned giving throughout Virginia in 2013.

“Developing a program that will allow our parishioners the opportunity to create a legacy of giving to our parishes, schools and our Diocese is critical to the growth of the Catholic Church in Virginia,” Bishop DiLorenzo said. “I would like to thank the members of the Planned Giving Council for taking the time to assist us with establishing this program. I am grateful for their expertise and continued guidance in this process.”

To find out how you can create a legacy of giving for your parish, school or the ministries of the Diocese, please contact Alex Previtera at 804-359-5661 or aprevitera@richmonddiocese.org.

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