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Planned Giving

A planned legacy gift to St. Mary’s Orthodox Cathedral is a thoughtful way to ensure the enduring spiritual vitality of our historic parish in Northeast Minneapolis.

 

By including the Cathedral in your long-term financial or estate plans, you help preserve our sacred space, support faith education, and sustain our charitable ministries for future generations in the Orthodox Christian faith.

 

Legacy gifts can be established at any time, either during your lifetime as an active, tax-efficient contribution or as a deferred gift realized after your falling asleep in the Lord. Members and friends of St. Mary’s typically set up these gifts in consultation with a financial advisor or attorney, and then by contacting the Cathedral’s financial secretary or treasurer to inform the parish of your decision.

 

Charitable gifts and legacy planning affirm our responsibility as Orthodox Christians to share what we have for the benefit and growth of the Church. Our treasures belong to God, and it is our responsibility to be wise and good stewards of God’s blessings so that others may benefit from them as well.

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Contact the Cathedral Treasurer with Questions

​Email: treasurer@stmarysoca.org

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Please consult your financial planner and / or tax professional for further guidance about your financial resources and how you can support the Cathedral with a legacy gift.​

Common Legacy Gifts and Tax-Advantaged Strategies

  • Charitable Bequests: A gift outlined in your will or living trust. You can designate a specific dollar amount, a particular asset, or a percentage of your residual estate to be transferred to the Cathedral after your lifetime.
     

  • Qualified Charitable Distributions (QCDs) / IRA Giving: If you are age 70½ or older, you can transfer funds directly from your Individual Retirement Account (IRA) to a qualified charity such as the Cathedral. These distributions are tax-free and can satisfy all or part of your annual Required Minimum Distribution (RMD) without increasing your taxable income.
     

  • Appreciated Securities (Stocks and Bonds): Donating long-term appreciated assets directly to the church allows you to avoid paying capital gains taxes on the increase in value while generally securing a charitable income tax deduction for the full fair market value of the shares.
     

  • Donor-Advised Funds (DAFs): A centralized charitable account managed by a sponsoring organization. You make an irrevocable, tax-deductible contribution to the fund and can recommend grants to St. Mary's over time. You can also name the Cathedral as a final beneficiary of the account.
     

  • Life Insurance: You can designate St. Mary's Orthodox Cathedral as the primary or contingent beneficiary of a life insurance policy, ensuring that the death benefit supports the parish.
     

  • Real Estate: Donating residential, commercial, or agricultural property can provide significant tax benefits. By gifting the property, you avoid capital gains taxes, and the proceeds from the eventual sale are used to support the Cathedral's mission.

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