Leaving A Legacy
Why Leave a Legacy?
Since its founding in 1865, many generous people have included Asylum Hill Congregational Church in their estate plans. Legacy gifts are provided by visionary individuals who engage in thoughtful decision-making that includes the church in their estate planning. They see this as a way to strengthen AHCC and to make a difference in the community for generations to come.
Your legacy may benefit AHCC in any number of ways. You may leave a general gift or specifically direct your gift to the AHCC’s endowment, or to the ongoing support of:
- building and grounds
- worship, music and arts
- outreach programs
One example of a fund that supports AHCC’s beautiful facility is the Grandy Building Preservation Fund. This fund was created following the retirement of Rev. Peter Grandy, Senior Associate Minister, as a permanently endowed fund to honor his ministry, leadership, and commitment. The earned income from this fund supports the maintenance of the church's physical plant and capital projects. Some of these projects involve structural renovation, mechanical restoration, or high priority preservation work needed to maintain the architectural character of the church's building or equipment.
How to Leave a Legacy to Asylum Hill Congregational Church:
Wills and Bequests provide a simple way to make a gift that will keep on giving after your lifetime. Without a will, or other provision such as a living trust, state law will decide how your assets will be distributed upon your death. The state’s plan may not be in accordance with your wishes, and may not distribute as much of your estate as possible to heirs, church or charity.
IRA: You may designate AHCC or any charity of choice as beneficiaries of your IRA or retirement plan. An IRA can be a wise asset to use for a charitable bequest, as individual heirs may be heavily taxed on distributions received by inheritance.
- During your lifetime, you may use Required Minimum Distributions (RMD) to fund a life-income gift; the distribution will be a taxable event, but you will be entitled to a charitable tax deduction if you itemize.
- For outright gifts only (can’t be used to fund a life-income gift), the IRA Charitable Rollover legislation is now permanent: donor must be age 70½ or older, gift of $100,000 or less, counts toward RMD, gift must be transferred from IRA direct to charity, no deduction but distribution is tax-free.
Life Insurance: Gifts of life insurance offer opportunities to make substantial charitable contributions. If you have a policy which is no longer needed for family protection, you may simply name AHCC as the beneficiary.
- To receive a tax deduction, transfer ownership of the policy to the church; if the policy is not paid up, we ask that you make (tax-deductible) contributions of the premium amount each year to AHCC, which AHCC will then use to pay the premium. You can also make a gift by purchasing a new policy, or using insurance for asset replacement.
Please use the following information when designating AHCC as a beneficiary:
Asylum Hill Congregational Church
814 Asylum Avenue
Hartford CT 06105
(860) 525-5696
Please contact Helena Carvalho, Director of Operations, at 860.216.9824 for AHCC’s Federal Tax ID.
Please consult with a financial planner or attorney to advise you on your estate plans.
For more information on leaving a legacy to Asylum Hill Congregational Church, please contact Helena Carvalho, Director of Operations, at 860.216.9824.
