ECUMENICAL THEOLOGICAL SEMINARY
Many traditions. One Spirit.
Giving to Ecumenical Theological Seminary
Your gift to Ecumenical Theological Seminary (ETS) is fundamental to our ability to provide an affordable education for our students while maintaining the highest standards of academic excellence. Every donor is different, with various desires and capacities for giving. We encourage you to consult your tax advisor to determine the best way to give under current legislation.
Provided is an overview of the varied ways you can help ETS through your charitable gifts.
Gifts of Cash/Cash Equivalents
The most popular means of making a gift to ETS is by cash or cash equivalents (check, credit card, etc.).
We encourage you to go “green” by making your gift on-line through our secure website, thus helping to save trees. “Donate Now” buttons may be found throughout this web site. Of course, you may also choose to mail your gift to ETS at the address provided below.
Gifts of Securities
Securities include stocks and bonds. When donating securities that you have owned for more than twelve months, and you itemize your tax return, you may be able to claim an income tax deduction based on the full market value at the time the gift is made. Consult your tax advisor to determine the best way to give under current legislation.
A charitable bequest is a simple way of making arrangements for a generous gift in the future by naming ETS as a beneficiary in your will or trust. Estate planning can create a legacy that will help ensure the education of excellent spiritual leaders in years to come.
Bequests can be made for the general unrestricted use by the seminary or you may choose to restrict your bequest to a designated purpose. There are several kinds of bequest gifts and it is important that your intentions be specified in writing, using appropriate language.
We encourage you to review the following options with your advisors:
“I give to Ecumenical Theological Seminary, located in Detroit, MI, the sum of $__________ for the general purposes of said institution.”
“I give to Ecumenical Theological Seminary, located in Detroit, MI, (percentage amount) of my total estate to be used for the general uses and purposes of said institution.”
“I give the residue of my estate (or you may state a percentage of the residue) to Ecumenical Theological Seminary, located in Detroit, MI, to be used for the general uses and purposes of said institution.”
Vary to Purpose Clause
“If circumstances should at some time make it impossible, inadvisable or impractical to utilize this legacy gift for the designated purpose, then I authorize the Board of Directors of Ecumenical Theological Seminary, in its sole discretion, to utilize the gift in such a manner as the Board may deem to be in the best advantage of Ecumenical Theological Seminary while adhering as closely as possible to my original intent.”
Gifts of Life Insurance
Insurance you no longer need to protect you or your family can be the basis of a charitable gift to ETS. When donating a paid-up policy, you are eligible for an income tax deduction based on the replacement cost of the policy or the cost basis whichever is lower.
When donating a policy that is not fully paid, you will receive a charitable deduction for the approximate cash surrender value or the cost basis, whichever is lower. If you continue paying premiums, these payments can also be deducted.
If you wish, you may also obtain a new policy naming Ecumenical Theological Seminary as the beneficiary. A tax deduction may be claimed for the amount of premium payments if ETS is both the owner and beneficiary of the plan.
Gifts of Charitable Gift Annuities
A charitable gift annuity is a contract whereby you (and/or another beneficiary, if desired) exchange a gift of money or securities for a fixed income for life. The amount of annual income is based on your age(s) at the time the annuity is established.
There is also a deferred gift annuity plan in that payments begin at a date in the future, such as the year you expect to retire. This gift vehicle allows you to make a gift now. Then, later, when you need the security of additional income you will receive a fixed income for life. Consult your tax advisor regarding the tax benefits of this type of giving.
Retirement Plan Gifts
You can name Ecumenical Theological Seminary as a beneficiary of your qualified retirement plans, such as IRA’s, 401(K’s), 403(B’s), Keoghs or other plans. Ask your benefit plans administrator for a death beneficiary change form and indicate the amount or percentage of assets you wish to be transferred to Ecumenical Theological Seminary following your lifetime. Your spouse may need to consent to your designation.
Gifts of Charitable Trusts
Charitable trusts, (such as Remainder Unitrust, Remainder Annuity Trust, Charitable Lead Trust), are ways of designating substantial funds for Ecumenical Theological Seminary. Please consult your financial and/or legal advisors in the creation of one these or other trust options.
Gifts of Real Estate
Gifts of real estate or the proceeds from the sale of real estate can be given to Ecumenical Theological Seminary. As there are significant tax considerations, please consult with your financial and legal advisors to discuss the outright gifts of real estate.
Contact and legal Information
Legal name for all gifts to ETS is: Ecumenical Theological Seminary
ETS Federal Identification Number: 38-2385150
Contact for any information regarding giving:
January 6, 2016
The information provided is not intended to provide legal or financial advice. While every effort is made to ensure the accuracy and completeness of the information the Ecumenical Theological Seminary, its employees and agents, assume no responsibility for errors or omissions. Individual circumstances differ and tax laws change frequently; therefore, you are strongly encouraged to confer on a regular basis with your legal and financial counsel in the arranging and confirming of your estate plans to ensure your gift decisions are appropriate and current to your situation.