Supporting Prince of Peace Abbey: A Call to Join Us in Our Mission
Since 1958, Prince of Peace Abbey has been a beacon of spiritual growth, reflection, and service in Southern California. Our monastic community thrives thanks to the unwavering support of benefactors who share our commitment to a life of prayer, work, and hospitality. As we continue to pursue our mission, we invite everyone to join us in sustaining this sacred space. Whether through immediate donations or long-term Planned Giving, your support is crucial in ensuring that our monastery remains a sanctuary of peace and spiritual nourishment for generations to come.
The Importance of Financial Stability
Prince of Peace Abbey’s ability to fulfill its monastic mission depends heavily on the generosity of its supporters. While our retreat house and gift shop provide some income, they are not sufficient to cover the myriads of projects and initiatives we undertake. These efforts, accomplished with God’s grace, require regular funding to ensure their continuation. By contributing to the financial stability of the Abbey, you are directly participating in the sacred work we do, allowing us to focus on prayer, service, and community building.
Immediate Support: Cash and Property Donations
Direct donations are always welcome and vital to the ongoing operation of Prince of Peace Abbey. These gifts can be made at any time and provide immediate resources to support our daily activities, maintenance, and special projects. Whether large or small, each donation is a testament to your commitment to our mission and helps ensure that we can continue to serve our community effectively.
Current, outright, gifts to the Abbey can be funded in a variety of ways, including cash, appreciated securities, mutual funds, retirement plans, real estate and business interests. Through Qualified Charitable Distributions (QCD), eligible IRA donors are allowed to make substantial tax-free gifts to charity. IRA trustees and tax professionals can provide information regarding current QCD regulations.
Planned Giving
While many of our benefactors and friends support the Abbey through outright gifts of cash or other property, there is a growing awareness of the value of providing long-term benefits to the Abbey through Planned Giving. Planned Giving offers friends of the Abbey and members of the Catholic community the opportunity to participate in accomplishing our Lord’s work in a variety of ways, some of which provide mutual benefits for both the donor and the Abbey.
There are many types of Planned Gifts. You and your financial advisors can select a form of gift that is consistent with your personal values, accomplishes your charitable goals and takes into consideration your overall financial and estate plan. Besides simple will provisions, there are several life income plans available which can sometimes result in larger gifts than originally anticipated while also enhancing your income stream. Some of the ways to provide for the Abbey through Planned Gifts are as follows:
Bequests
Endowments
Life Insurance
Charitable Remainder Trusts
Bequests
Bequests are the most common form of Planned Giving and one of the easiest ways to ensure that your assets are distributed according to your wishes after your death. By including Prince of Peace Abbey in your will, you can leave a lasting legacy that reflects your faith and commitment to our mission. Bequests are flexible and can vary in size and form, making them an accessible option for many supporters. Sometimes, a simple codicil making provision for the Abbey can be added to an already existing will or adding the Abbey as one of the beneficiaries of an existing Trust.
Endowments
An endowment is a powerful way to provide ongoing support to Prince of Peace Abbey. Often referred to as the “gift that lasts forever,” an endowment allows the principal of your gift to remain intact, with only the income generated being used to support the Abbey’s needs. This creates a stable, long-term source of funding that helps secure the future of our monastic community and its work. Gifts can be made directly to the Abbey’s account with the Catholic Community Foundation.
Life Insurance
Life insurance offers a unique opportunity to make a significant contribution to Prince of Peace Abbey with little to no out-of-pocket cost. You can donate a paid-up life insurance policy by assigning it to the Abbey and designating us as the beneficiary. This option not only supports our mission but also provides you with potential tax benefits. Another cost-free method of using life insurance is to designate the Abbey as a beneficiary of all or a portion or your personal or workplace-provided life insurance policy.
Charitable Remainder Trusts
Generally, the purpose of a trust is to set aside money or other assets to provide an income for yourself or another person. Charitable trusts have the additional advantage of establishing a tax-deductible gift for non-profit organizations. With a Charitable Remainder Trust, you irrevocably transfer cash and/or appreciated marketable securities to a trust during your lifetime or via your will. If you fund with appreciated securities, you may avoid the payment of capital gains taxes on the appreciation. Since the trust is tax-exempt, it will not have to pay capital gains taxes on the appreciation when it sells. You may designate yourself and another individual to receive income for your life(s) and, at the conclusion of the income payments, the remainder of the trust principal will be paid to the Prince of Peace Abbey. The Charitable Remainder Trust is a flexible instrument that combines charitable giving with personal financial planning and generally requires an attorney who is familiar with this type of arrangement and, possibly, the services of a trustee.
The Spiritual and Practical Benefits of Giving
Supporting Prince of Peace Abbey is more than just a financial transaction; it is an investment in the spiritual and communal life that our monastery fosters. It is an opportunity to live out the Gospel’s call to charity and stewardship, knowing that your gifts contribute to the work of God in a tangible way.
Your generosity enables us to maintain our sacred spaces, offer retreats and spiritual direction, and engage in works of charity that benefit the wider community. Moreover, many forms of giving, offer practical benefits such as tax deductions and estate planning advantages, allowing you to support the Abbey while also meeting your personal financial goals.
Join Us in Our Mission
Prince of Peace Abbey has been a place of spiritual refuge, reflection, and spiritual growth for over six decades. This has been made possible by the kindness and generosity of those who believe in the value of our monastic mission. We invite you to join us in this sacred work by considering how you can support the Abbey financially and economically. Whether through a one-time donation or a Planned Gift, your contribution will make a lasting impact on our community and the lives we touch.
Together, we can ensure that Prince of Peace Abbey remains a beacon of hope, faith, and love for all who seek its embrace. Thank you for your consideration and your generosity. May you be blessed for your kindness and support.
