The Long Term Gifting Program is a financial program wherein participants receive favorable lifetime income and tax benefits, and the Fraternity receives funds to support the education of priests for the third millennium and to accomplish its other apostolic works. The Gift Annuity Program provides the benefactor with a fixed lifetime income and an immediate substantial tax deduction. The amount invested in the program can range from small to very large. Cash, bank certificates of deposit, appreciated common stock, art, and real estate are all appropriate items for gifting in this program. The Fraternity Pooled Income Fund operates much like a mutual fund.
Participants make a contribution to the fund and receive a variable rate income from it in return.
The performance of the fund dictates the income benefit to the contributor or designated beneficiary. Like the Gift Annuity Program, the Pooled Income Fund provides a very competitive lifetime income to the participant. The Charitable Remainder Trust provides the participant or the designated beneficiary a substantial fixed or variable lifetime income, immediate tax deductions which can be carried forward for up to five years, and relief from capital gains tax on appreciated assets. While the Fraternity does not receive any funds from the trust during the lifetime of the benefactor or the designated beneficiary, whatever amounts remains in the trust at his or her death, or that of the beneficiary, transfers to the Fraternity of St. Peter. The Charitable Remainder Trust, when combined with other estate planning techniques, can significantly reduce or eliminate the tax that would be paid on the estate.