Interfaith Thanksgiving Service

This service reaches back to the days of the Abrahamic Accord – a relationship between Christian and Jews on the East Side. The Accord has ceased to function for some time now, yet the interfaith Thanksgiving service has continued, alternately hosted by Temple Beth-El and St Martin’s. Attendance has been falling each year at this service, and although billed as interfaith it is now mostly Christians who attend.  This year as the host I signaled a desire to review the approach to this service.  Following the Pittsburgh shootings, I then wondered if we needed to hastily put something together to signal community solidarity with our Jewish neighbors. In discussion with the Temple, we decided that having had a tremendous community vigil to mourn the shootings, and with busy calendars, nothing further was needed at this time. We have jointly agreed not to hold an interfaith Thanksgiving service this year.

Vestry Matters

Nominating Committee News 

We are seeking nominations for the positions of Senior and Junior Warden, Treasurer, Clerk, and one Vestry member

Our parish bylaws require that the Rector and Wardens appoint a nominating committee at least eight weeks before the Parish Annual meeting which is traditionally held the last Sunday in January. Our parish custom has been for the Rector, Wardens, and retiring vestry members to constitute the Nominating Committee. The Nominating Committee will nominate persons for the positions of Senior and Junior Warden, Treasurer, and Clerk as well as the number of necessary parishioners to replace those Vestry members whose three-year team has expired. It is customary for the Junior Warden to move to the Senior Warden slot. This is not required and others may be nominated to stand for election to Senior Warden at the Annual meeting.

This year, we will be seeking names of parishioners who would be capable and willing to serve in the four Parish ‘officer ‘ positions: Senior and Junior Warden, Treasurer, and Clerk — we do anticipate that John Bracken will stand for nomination as Senior Warden for a one-year term, having ably served as Junior Warden. In addition, the committee will be seeking one person to  serve on the Vestry for a three year term.

Note that we are only attempting to fill one vestry position this year rather than the customary three. We are proposing to change our bylaws to allow for a smaller, more streamlined vestry that is more in keeping with the current size of the Parish. The proposed change, also to be presented at the annual meeting, reduces the size of the vestry from 14 to 8. We feel that this change also acknowledges that many of our capable parishioners who would like to serve on the Vestry are simply too busy to be able to serve in the  fully committed fashion they would prefer. Please contact the Rector or one of the Wardens if you would care to nominate someone to serve in one of the positions mentioned.

Help St. Martin’s continue its work

 

Leave an Enduring Legacy by Contributing to Saint Martin’s Endowment

Since it opened its big red doors at 50 Orchard Avenue in 1922, Saint Martin’s has brought to the Greater Providence area a thoughtful approach to Christianity; one that combines the beauty of traditional Episcopal liturgy with vigorous outreach programs and a striving for social justice. In order to help ensure that Saint Martin’s continues to thrive, the Parish is strengthening its endowment and asks your help.

Saint Martin’s Endowment was set up decades ago to help fund long-term expenses and to insulate the parish from the vagaries of economic cycles. The endowment provides an ability to offer financial support to new initiatives and to make needed repairs to our beautiful and historic facility in a timely and cost-effective manner. It has also been used to support and jump-start new ministries and outreach programs. Dedicated funds within the endowment also fund special music programs on Christmas and Easter and allow the replacement of worn vestments and the like.

Our goal is to grow the size of the endowment so that we can restrict withdrawals to 4-5% of principal per year range. This is a sustainable level and is considered a “best practice”.

How can I help?

There are many ways to contribute to the Endowment. Some are simple and straightforward such as: an outright gift of money or assets such as stock or real estate, including Saint Martin’s in your will, making Saint Martin’s a whole or partial beneficiary of a life insurance policy, or a gift from an Individual Retirement Account. Other techniques such as Charitable Gift Annuities and Charitable Remainder Trust are more complicated but well worth considering if a sizable gift is contemplated. Consideration of tax and estate law can make your gift more powerful by reducing taxes and expenses.

Common Ways to help strengthen Saint Martin’s Endowment

  • Simple & Immediate Gifts. Cash, stocks, bonds, mutual funds, real estate and personal property can be given at any time to the Endowment. Some people have the idea that a gift to the endowment needs to be large. That is not the case. Any amount is always welcome. You can give a small affordable amount each month which adds up over time; others choose a larger one-time gift. The parish can also take title to real estate and valuable personal property such as jewelry or paintings and sell them with the proceeds going into the Endowment.
  • Gifts from an IRA, 401K and some other retirement plans. This is an increasingly common technique. The money that has accumulated in the plan has never been taxed but is taxed when you withdraw or when it goes into your estate when you die. However, gifts from such retirement accounts to charitable or religious organizations such as Saint Martin’s are not taxed at all. In addition, you may be entitled to a charitable deduction in the amount of the gift.
    • Tip: If you are over 70 1/2 the IRS requires that a portion of your IRA account be distributed each year until your death. This is the so called Required Minimum Distribution (RMD). If the money goes to you, it is taxed at your individual income tax rate. However, if you instruct your IRA to give the money directly to a not for profit such as Saint Martin’s then the distribution is not taxable to you.
  • Deferred Gifts: Wills and Bequests. A bequest through a will is the most common way the Endowment has been funded. It is a simple and straight forward way of giving and creating a legacy of good that will live on. Bequests can be in simple dollar amounts, or as a percentage of your estate or even a percentage of the remainder after other specific bequests such as gifts to children or other charities have been made. The language needed to add a bequest to an existing will can be quite simple: “I give, devise, and bequeath to Saint Martin’s Parish, 50 Orchard Avenue, Providence, RI, the sum of $ XXX. to be placed in its Endowment.
    • Tip: You should always use an attorney to develop your estate plan and draft and make changes to your will. Even if you do not have a lot of money, a will helps your family and friends understand how you would like to handle things. It can also avoid complications and confusion. The Episcopal Church Foundation’s “Planning for the End of Life” booklet contains considerable information about these topics. It can be found on line at http://www.ecfvp.org/webinars/122/basics-of-planned-giving-2.
  • Life Insurance. You may have life insurance that is no longer needed (children grown, spouse has passed) Some name the parish the beneficiary or partial beneficiary of such excess life insurance.
    • You may get a tax  deduction for the cash surrender value of the policy not its ‘face value”. If the policy requires continuing the premiums, those too can be deductible.
  • More Complicated Techniques. There are some techniques which only make sense if one has considerable assets. These include charitable gift annuities, Charitable remainder Trusts, and Pooled Income funds. Should you wish to explore these options Saint Martin’s will be happy to work with your advisors.

For further information please contact the church office or one of the Clergy or Vestry. The phone number is 401-751-2141; [email protected];

(Information provided in this brochure is of a general nature. You should always consult your own lawyer or accountants before making important decisions.)