Giving at First Parish

It is our goal to collect your pledge plans as quickly and easily as possible with four convenient ways to pledge:

• Pledge online here;
• Send us back your signed pledge form in the stamped envelope provided from the recent Budget Drive mailing;
• Email or leave a message for our parish administrator at office@uuneedham.org or 781-444-0823;
• Email a committee member: Bob (radenoble@gmail.com), David (dminard@dminard.com), or Kevin (mc.sail@verizon.net)

Please pledge as generously as you are able to our 2022-23 Annual Budget Drive!

Thank you!

For many of us, coming from other denominations or stepping inside our doors for the first time, it’s difficult to benchmark how much to pledge. We hope our congregants will be financially generous both with First Parish and with other worthy faith-based and service organizations.

Your financial commitment to First Parish should reflect both your personal situation in terms of financial ability and the value you place on your experience as an integral part of our faith community. The UUA Fair Share Giving Guide suggests an annual giving range of 2-10% of household income. As a starting point, we invite each First Parish household to consider giving at a level of 2.5%. Based on individual circumstances, some households pledge more and some pledge less. The average pledge last year was about $2,500.

Whether you can afford a little or a lot, we ask that all members and friends demonstrate your commitment to First Parish by making a pledge. Our bylaws call for every member to contribute.

Should your circumstances change during the year, please contact Rev. Catie Scudera or the parish administrator to adjust your pledge.

You select the method and payment schedule that works for you.

Many parishioners mail checks to the office or place them in an envelope in the offertory plate.

Others appreciate the convenience of paying online, using Realm, via credit card or direct from their bank account. Or you can pay by text-to-give.

You also may pay by donating stock and other securities.

For details about arranging stock transfers, or for any assistance in payment methods, please contact the parish administrator.

There are various options for making legacy gifts to the parish. We encourage you to work with your attorney and/or financial advisor to select the approach that is right for you.

Four basic options are outlined below:

• bequests;
• retirement plan beneficiary designations;
• life insurance beneficiary designations; and
• charitable gift annuities.

There are additional options you may wish to consider under certain circumstances, including pooled income funds, charitable remainder trusts, and charitable lead trusts, that will not be discussed further here. Pooled income funds are more attractive in a higher interest rate environment. Charitable remainder trusts and charitable lead trusts are more complex and individualized vehicles better discussed with your professional advisors.

A bequest is a provision in your will or revocable trust designating a fixed dollar amount, a percentage of your assets, or the remainder of your estate will be given to First Parish in Needham, upon settlement of your estate. Most bequests are fully revocable while you are alive.

Language for Wills

You may add a simple codicil to your will to create a bequest for First Parish. You can make a specific bequest by identifying a block of stock or bonds, a specific parcel of real estate, or other clearly identified marketable asset. Or, you can make a cash bequest in a specific amount or as a percentage of your estate. You can also make a residual bequest from the remaining assets in your estate after all other specific bequests and settlement costs are satisfied.

Most bequests are undesignated which makes them available for general use as part of the General Endowment Fund. This fund exists in perpetuity and generates annual income for First Parish. If you wish to designate a bequest for a particular program or other purpose at First Parish, please contact the parish administrator to ensure your bequest can be accepted.

The following sample language can be used to fulfill your charitable objectives:

Specific Amount: I give, devise, and bequeath $ ______________ to First Parish in Needham.

Percentage Bequest: I give, devise, and bequeath __________ % of my gross estate to First Parish in Needham.

Residuary Bequest: I give, devise and bequeath the rest, residue, and remainder of my estate to First Parish in Needham.

Language for Trusts

You may amend your revocable trust to create a bequest for First Parish in Needham. This can be done at any time or as part of a review and updating of your trust, which is recommended every 5-10 years as the relevant laws change. You can make a specific bequest by identifying a block of stock or bonds, a specific parcel of real estate, or other clearly identified item. Or, you can make a cash bequest in a specific amount or as a percentage of your estate. You can also make a residual bequest from the remaining assets in your estate after all other specific bequests and settlement costs are satisfied.

Most bequests are undesignated which makes them available for general use as part of the General Endowment Fund. This fund exists in perpetuity and generates annual income for First Parish. If you wish to designate a bequest for a particular program or other purpose at First Parish, please contact the parish administrator to ensure your bequest can be accepted.

The following sample language can be used to fulfill your charitable objectives:

Specific Amount: The Trustee shall distribute $ ______________ to First Parish in Needham.

Percentage Bequest: The Trustee shall distribute __________ % of my gross estate to First Parish in Needham.

Residuary Bequest: The Trustee shall distribute the rest, residue, and remainder of my estate to First Parish in Needham.

You can designate First Parish as a beneficiary of your IRA, 401(k), or 403(b) plan, for a specific amount or a percentage of total assets. Such gifts can save on income and estate taxes.

Leaving a portion of your retirement plan account to First Parish in Needham can help you get the most value from your estate and protect your heirs from taxes. These retirement assets are subject to income taxes when paid out to a taxable entity (i.e., most people, even your spouse or children), even when the estate is too small to owe estate taxes. These taxes can reduce the amount received by your heirs by up to 35 percent.

In contrast, nonprofit organizations such as First Parish are eligible to receive the full amount at your death without facing any income tax liability. Income taxes can be avoided or reduced through a carefully planned charitable gift. There are three common approaches:

• Designate First Parish in Needham as a primary beneficiary for a percentage (1 to 100 percent) of your retirement plan account.
• Designate a specific amount to be paid to First Parish in Needham before the remainder is directed to family or other individuals.
• Make First Parish in Needham the contingent beneficiary to receive the balance only if a loved one, as primary beneficiary, doesn’t survive you.

To implement your wishes, please contact your plan administrator, then complete and sign whatever forms are required. This can often be done on-line. You may wish to contact your attorney to be sure you are using the correct language.

You can designate First Parish in Needham as a beneficiary of all or a portion of your life insurance benefits.

A traditional life insurance policy (with an accumulated cash value) can be a valuable asset. If the original purpose for the protection no longer applies—such as to educate children now grown or to provide financial security for a spouse now deceased—a life insurance policy can be redirected to help support a worthwhile cause such as First Parish in Needham.

To implement your wishes, please contact your life insurance agent or company and obtain and complete the needed change of beneficiary form. You may wish to contact your attorney to be sure you are using the correct language.

First Parish’s Charitable Gift Annuity program is professionally managed and administered by the Office of Legacy Gifts at the Unitarian Universalist Association and State Street Global Advisors. First Parish’s parish administrator can help connect you to the UUA to establish a charitable gift annuity.

A charitable gift annuity is a good arrangement for someone looking to augment their retirement income because it generates a fixed dollar income for the rest of your life. In exchange for your irrevocable gift of at least $10,000 in cash or publicly traded securities, the UUA will pay you a lifetime income based on your age (minimum 65) at the time of your gift. At the end of your life, money remaining in the annuity (the ultimate gift) is distributed to First Parish (and/or the UUA) as you specify. The gift annuity can be for one or two people, so a spouse or other loved one can also receive payments for life.

A portion of the initial gift is income tax–deductible based on IRS rules about the expected value of the ultimate gift. Charitable gift annuity payments are partially income tax–free throughout your estimated life expectancy. If you use appreciated stock to make a gift, you can usually eliminate capital gains tax on a portion of the gift and spread the rest of the gain over your life expectancy.

Thank you for your interest in making a Legacy Gift to First Parish in Needham.

To notify us of a legacy gift/record a bequest, complete our Legacy Giving Form  and return it to the church office.

For more information, download our Legacy Giving Guide.

UUA Planned Giving Information:

• UUA Planned Giving Website;
• Laura Randall, Office of Legacy Gifts at the Unitarian Universalist Association, 617-948-6511, giftplans@uua.org

• First Parish in Needham is an IRS-qualified tax-exempt organization.
• We are a member in good standing of the Unitarian Universalist Association.
• First Parish’s federal identification number (FEIN) is 04-2347461.
• A completed IRS Form W-9 Request for Taxpayer Identification is available upon request.
• For tax purposes, bequests, legacies, devises, or transfers to the Church are deductible as they accord with the provision of the Internal Revenue Code.