Catholic Extension Society offers an opportunity for Extension Diocese fundraisers to offer charitable gift annuities to donors with no risks to the diocese. Your donor will be able to name the Diocese, Diocesan Ministry/Program or Parish or School they wish their remaining balance to benefit. Catholic Extension Society has been issuing charitable gift annuities since 1912 and currently administers over 2,000 contracts. With our experience and the administration in place we are in a unique position to assist you in meeting your donor’s wishes.
The Catholic Gift Annuity program is run by Catholic Extension Society for the benefit of Extension Dioceses. There are no fees for participating in the Program. This program oversees all the administration of charitable gift annuities including processing of paperwork required for establishing the gift annuity, preparing proposals and contracts, payment distribution, processing address and banking information changes. Catholic Extension Society will distribute the annual 1099R forms to annuitants. Catholic Extension Society manages the final distribution of annuities upon the annuitant’s death. We will send letters to family members of the deceased and distribute the final 1099R. Catholic Extension Society will pay out the residuum to the diocese at termination. (Ninety percent (90%) of the remaining balance of the annuity will be sent to your diocese with any restriction noted as directed by the donor. The other Ten percent (10%) will help grow a fund to cover those annuities that exhaust all of their funds.)
Documents
Memorandum of Understanding-Catholic Gift Annuity
Catholic Gift Annuity Overview
2024 Catholic Gift Annuity Marketing Challenge
All applications to the Catholic Gift Annuity Marketing Challenge must be participants in the Catholic Gift Annuity program above. Applicants can join by signing a Memorandum Of Understanding. (Linked above)
Catholic Extension Society is offering an opportunity for Extension Dioceses to grow the Catholic Gift Annuity program in their respective dioceses.
The participating diocese will receive funding and marketing materials for promotion of the Catholic Gift Annuity Program. Catholic Extension Society will provide:
- Sample advertisements (ads) to appear in the diocesan newspaper or magazine.
- $1,000 to subsidize ad costs.
- 5,000 Catholic Gift Annuity tri-fold brochures customized for the diocese – name / contact information, logo and photos if requested.
- Cost of printing the 5,000 brochures will be paid by Catholic Extension Society.
- Sample letters to selected donors (over 50 or 55 years old).
- First letter sent with brochure introducing the Annuity program.
- Second letter sent six weeks after first mailing as a follow up.
- $1,000 for the diocese to use to offset mailing costs.
- Sample letter to priests to be mailed a week or two before mailing letters to donors. This letter introduces the program and invites the priest to participate in the program and name either the Priest Pension Plan or Seminarian Endowment Fund or their Parish as the beneficiary.
- Materials to email to donors if the diocese has email addresses.
- Bulletin notices if the diocese chooses to promote the program in individual parishes.
Challenge Opportunity
The Diocesan Development/Stewardship Office will receive a grant in the amount of $500 for each Annuity Contract signed by January 31, 2025, for the first three contracts. The maximum amount awarded under this challenge is $1,500. This grant can be used for any purpose decided by the diocese.
Value to Diocese: $3,500 – $5,000
Duration: 8 Months
To Apply
Complete the Online Application Form by the deadline of Wednesday, April 17, 2024.
For more information
Please contact Tom Riordan, Vice President, Mission Partnerships, at 831-320-3571 or triordan@catholicextension.org or Betty Assell, Manager of Annuities at 312-795-6089 or bassell@catholicextension.org