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Extraordinary Memory…Extraordinary Gift…Leave your legacy today.
Saint Ambrose Parish Endowment Fund
“Give to the Most High as he has given to you, generously, according to your means.” – Sirach 35:9
What is the Saint Ambrose Endowment Fund – more information and details:
In 2007, the Saint Ambrose Endowment Fund was established as a way of helping our parish secure a strong stable future for our community. The Saint Ambrose Parish Endowment Fund is designed to support Catholic education, outreach and evangelism! All contributions to the endowment fund stay within Saint Ambrose Parish. Funds generated through an endowment program will provide dependable income and be here to benefit the church and school for generations to come.
The Fund’s purpose is to meet the current, future and general operations and capital needs of our school and parish.
To support Catholic education, this Fund may support diverse needs by distributing scholarships, updating educational equipment or supporting teacher salaries. Parish needs may involve facility and landscape maintenance, repairs and/or upgrades.
The Saint Ambrose Parish Endowment Fund will grow through contributions and:
Direct Gifts
Gifts of cash, stock, bonds or real estate. These gifts may be made all at once or periodically at the donor’s discretion.
Memorial/Honorary Gifts
This type of gift is made to honor a person’s life or a special event in a person’s life.
Retirement Funds
The donor may name the Saint Ambrose Parish Endowment Fund as a beneficiary or designate a current distribution to receive tax benefits.
Bequests
Bequests are gifts made to the fund through the donor’s will or trust. The donor simply names the Saint Ambrose Parish Endowment Fund as a beneficiary in the will or trust.
Veronica Becherucci, a parishioner of Saint Ambrose, was known by her family and friends as a “good hearted person.” She had a love for animals and was passionate about golf and bowling. A few months ago, Veronica entered into eternal life, but left a wonderful gift to keep her legacy alive and show her love for the parish: she left a portion of her estate to Saint Ambrose.
By placing Saint Ambrose Parish in your estate plans, you celebrate and recognize how important this parish has been in your lives. Saint Ambrose has been there to celebrate your joys and comfort you in times of sorrow. An endowment contribution will enable us to continue providing the same love and care for many generations to come.
The Saint Ambrose Parish Endowment Fund will grow through contributions and:
Direct Gifts
Gifts of cash, stock, bonds or real estate. These gifts may be made all at once or periodically at the donor’s discretion.
Memorial/Honorary Gifts
This type of gift is made to honor a person’s life or a special event in a person’s life.
Retirement Funds
The donor may name the Saint Ambrose Parish Endowment Fund as a beneficiary or designate a current distribution to receive tax benefits.
Bequests
Bequests are gifts made to the fund through the donor’s will or trust. The donor simply names the Saint Ambrose Parish Endowment Fund as a beneficiary in the will or trust.
Veronica Becherucci, a parishioner of Saint Ambrose, was known by her family and friends as a “good hearted person.” She had a love for animals and was passionate about golf and bowling. A few months ago, Veronica entered into eternal life, but left a wonderful gift to keep her legacy alive and show her love for the parish: she left a portion of her estate to Saint Ambrose.
By placing Saint Ambrose Parish in your estate plans, you celebrate and recognize how important this parish has been in your lives. Saint Ambrose has been there to celebrate your joys and comfort you in times of sorrow. An endowment contribution will enable us to continue providing the same love and care for many generations to come.
Annual Gifts
You can make an immediate, outright gift or annual pledge of cash, stocks, bonds mutual funds or real estate and receive an immediate charitable tax deduction.
If you are aged 70½ or older, you again have the opportunity to save on taxes and make a charitable distribution gift from your IRA through an IRA Qualified Charitable Distribution. With a direct transfer from your traditional IRA to a qualified charity, you satisfy your minimum required distribution for the year. IRA Qualified Charitable Distributions are income tax-free so long as the gift is made by December 31st.
Future Gifts
You can plan for the future by making an estate gift through a bequest in your will, trust or even a simple payable-on-death.
The Endowment Fund operates consistent with the principles, teachings and philosophy of the Roman Catholic Church. Gifts are received through many avenues including cash, real estate, securities, retirement funds, life insurance policies and tangible personal property. The Fund is not intended to be a repository for weekly collections.
“We wanted to recognize how important this parish has been in our lives. As lifelong parishioners since 1959, we feel that contributing annually to the endowment fund will help our parish take care of the needs of future families.” – William and Joan Thesling
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Saint Ambrose Milan Society
This is a recognition of those individuals and families who have made or committed to make a legacy gift through their estate plans. We ask that those who plan to make a legacy complete this form so that we can include you in the Milan Society today.
The stained glass windows in our Church radiate more brilliantly today thanks to John Dogger, Bob Downs, and Kathy Plavecski. During the summer of 2024, thanks to the Saint Ambrose Endowment Fund, these windows and the exterior glass were replaced and refurbished. The sunlight passes through the beautiful colored glass creating a beautiful and radiant glow in the Church.
The stained glass windows are a powerful metaphor for the Church – and especially our parish community – at its best moments. Each member has a unique color, shape and size. When we all come together and allow the Light of Christ to pass through us, we create a vision of God’s glory and beauty.
Back to the stained glass in our Church, many years ago three members of our parish community – John, Bob and Kathy – had an idea for our parish community –the establishment of an Endowment Foundation.
This Foundation would help ensure the future of our parish community and be a way for our members to make sure Saint Ambrose Parish and its worship, ministry and programs would have the support needed to continue long into the future.
Thanks to their vision, faithful work and dedication, we have the Saint Ambrose Endowment Foundation.
In 2024, the current Endowment Board wanted to create a way to thank and recognize our members who have made an exceptional gift to the Saint Ambrose Endowment Foundation. In the spirit of our parish patron, Saint Ambrose of Milan, we have created the Milan Society. It is most appropriate that the first to be inducted are those who years ago had both the vision and made the extraordinary efforts for the good of our community.
Thank you and congratulations to: John Dogger, Bob Downs, and Kathy Plavecski – our Milan Society Inaugural members. Saint Ambrose Parish will always be better because of your gift – your sacrifice – the legacy you have given to this community.
IRA Qualified Charitable Distribution
If you are aged 70½ or older, you again have the opportunity to save on taxes and make a charitable distribution gift from your IRA. With a direct transfer from your traditional IRA to a qualified charity, you satisfy your minimum required distribution for the year. IRA Qualified Charitable Distributions are income tax-free so long as the gift is made by December 31st.
Consider an IRA Qualified Charitable Distribution to benefit your parish, Catholic Charities, Priestly Formation, Catholic Education, the Heart of a Shepherd campaign or another ministry of the Diocese of Cleveland.
IRA Qualified Charitable Distributions- Fast Facts
- You must be 70 ½ and older
- Distributions must be made directly from the IRA to a qualified charity
- Your taxable income can be reduced by up to $100,000, the maximum allowable
- Only traditional IRA accounts are eligible. The IRA Qualified Charitable Distribution cannot be used with other retirement plans such as a 401(k), 403(b) or a SEP IRA
- Transfers cannot be made to Donor-Advised Funds, Charitable Gift Annuities, or other life-income arrangements
SOURCE & MORE INFO: www.catholiccommunity.org/ways-to-give/ira-qualified-
Year End Giving & Tax Planning Presentation
Questions on end of year giving? Wondering what a QCD or RMD is? Want to learn more about the Angel Scholarship Fund? Parishioner and Financial Advisor, James Collins, developed the presentation below to answer these questions and more.
James is a man of faith, family, freedom and finance. He is also a Major in the US Marine Corps, the founder and president of Semper Fidelis Financial.