Foundation Marks 20th Anniversary of Legacy Society
What if you had a legacy to leave, but kept it all to yourself? A hidden trove of treasure that was never shared? Think instead of the difference a gift of that treasure could make… a gift that could help ensure the financial stability of your parish long after you leave this earth. What an amazing tribute that would be not only to your parish, but to you! You have the opportunity of a lifetime to make that difference, leave that legacy and receive that tribute by becoming a member of the St. Hilary Parish Foundation’s St. Hilary Legacy Society.
As the Foundation observes 47 years of stewarding and granting funds to ensure the longevity of the church and school, a significant milestone has been reached this year with the 20th anniversary of the Foundation’s St. Hilary Legacy Society. Established in November 2003 for the purpose of recognizing those who make long-term commitments to the St. Hilary Parish Foundation through planned or deferred gift arrangements, the St. Hilary Legacy Society includes 14 donors who have made bequests totaling over $3.3 million. These individuals have included the St. Hilary Parish Foundation in their estate planning, by naming the St. Hilary Parish Foundation as a beneficiary of their wills, life insurance policies or retirement accounts.
Legacy Society Memorialized on Plaque
Donors who make gifts through their estates have the opportunity to be recognized as Legacy Society members by having their names inscribed on a plaque that hangs near the parish office. Donors may also opt to remain anonymous if they so choose. Either way, these donors help to ensure the long-term financial stability of St. Hilary Church and School.
Seizing the opportunity to make a difference through legacy giving can come about in a number of ways, for a variety of reasons. St. Hilary Parish Foundation Board Vice President and Secretary Stephen Hammersmith added a bequest to the Foundation’s Unrestricted School Endowment in his will in 2016. By virtue of his gift, Stephen became a member of the St. Hilary Legacy Society.
Support of School Motivates Gift
As the parents of three St. Hilary School alumni who attended the school from kindergarten through eighth grade, Stephen and his wife Cathy value the foundation their children received. “We are strong supporters of Catholic education and believe that strong endowments are the only way to ensure the vitality of those schools,” he says, explaining what motivated him to give to the Foundation in this way. Giving back to the school and parish has always been part of their lives. As parishioners since 1985, the Hammersmiths have held various roles over the years. Cathy was the St. Hilary School nurse for about 15 years, and Steve was a member of the St. Hilary Parish Finance Council for about 10 years before taking his current role as a member of the Foundation board.
Similar motivation lies behind the legacy gift of Jim and Carolyn Hogan. The Hogans moved to Bath in 1979 and, although technically within St. Victor Parish, joined St. Hilary Parish specifically to enroll their boys in St Hilary School. Through the years, the Hogans have continued their financial support of the parish and school, as well as participating in many activities of the parish, including Eucharistic Ministry, Homebound Ministry, Greeters, Stewardship Committee, Choir, Small Study Group, Arts, Knights of Columbus, Couples and Ladies Bridge, and, more recently, Angel Scholarship Fund Ambassadors.
The Hogans’ commitment to the Legacy Society was made in 2014, when they directed a major portion of their end-of-life remaining funds from their donor-advised charitable fund to be donated to the St. Hilary Parish Foundation. Jim explains, “We plan to end our donor-advised charitable fund upon death in such a way as to direct the remaining funds into permanent- legacy funds that most appropriately reflect our belief in Catholic values; in particular, Catholic education. The advantage of a final gift from a donor-advised charitable fund is that the original donation to this fund is tax deductible and the fund grows tax free up to the point of final distribution.”
Paying it Forward Beyond One’s Life
To those considering legacy giving, or those who may never have considered it, Stephen Hammersmith says, “Designating legacy gifts to the Foundation at one’s death is any easy way to provide ‘pay-it-forward’ support to the parish and the school.” Jim Hogan adds that, “for people who believe, as we do, that the St. Hilary Parish Foundation has a very effective model for managing and distributing funds for the overall long-term financial health of St. Hilary Parish and School, and who wish to make an end-of-life donation to the longevity of the parish mission, a legacy donation to the St. Hilary Parish Foundation seems an ideal way to achieve continued support beyond their life. An early commitment to this end warrants permanent membership in the Legacy Society.”
If you are considering legacy giving, please contact Diane Sarkis, Development Director, at 330-608-4787 for assistance with your decision.