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Author: Sarah Gries

Jim and Jo Appleby

Forgotten Insurance Policy, Unique Way to Give 

Charitable Gift Annuities  

 

While cleaning out their home in late 2013, Christ the King parishioners Jim and Jo Appleby had quite a pleasant surprise. They came across an insurance policy that had been purchased by Jim’s parents at his birth in the 1930s. Originally costing just $15, they would find the value of that policy had grown to nearly $88,000. The Applebys wanted to use the funds to honor the Church, a source of support and peace all their lives. However, the idea of extra income wasn’t something they could just dismiss.  

 

Luckily, a friend told them about the charitable gift annuities program at the Catholic Foundation. The charitable gift annuities available through the Catholic Foundation exceeded the Applebys’ expectations. The couple was able to donate the entire sum, receive quarterly payments that are partially tax-free, and accrued just over $41,000 in tax deductions. The money from the insurance policy will eventually benefit three separate organizations’ endowments held at the Catholic Foundation: the Catholic Foundation of North Georgia for Cristo Rey Atlanta Jesuit High School, the Cathedral of Christ the King, and the Society of St. Vincent de Paul, Georgia. What started as a $15 insurance policy for an infant boy more than 80 years ago will now provide additional quarterly income for the couple who discovered it and will support the Catholic community in Atlanta for generations. 

 

Note: Jim Appleby entered eternal life in November 2018. Jo continues to receive payments through their CGA. 

Djuric Family

The Djuric Family

Nick Djuric, a parishioner at the Cathedral of Christ the King, knew he wanted to create a fund someday to honor Bishop Saint Nicholas (Sveti Nikola), his family’s patron saint. Nick was baptized in the Serbian Orthodox Church and his family has relied on the saint’s intercession for unfailing help. “After our family escaped injury when a large tree fell on our house in 2015 – a close call for which we credited the intercession of St. Nicholas – I decided that day had arrived,” Nick said.

He added, “The Catholic Foundation embraced our idea for a donor-advised fund that would convert to an endowment fund at our death, and they made it effortless for us to create and fund the Sveti Nikola Fund when we were ready.”

Through the Sveti Nikola Fund, Nick and his wife Michelle plan to benefit a variety of ecclesiastical, charitable, and educational institutions in the Archdiocese of Atlanta that are important to their family. Then, with a supplemental gift from their estate at their death, the fund will continue to benefit those institutions long into the future.

“We hope that, both now and in the future, the fund will be a reminder to our children of their parents and their Catholic faith.” – Nick Djuric

 

Donor Advised Funds