All that we are and have are gifts from God. Your generosity supports the Cathedral’s vibrant ministries and allows us to grow and serve the community and St. Petersburg in new and vital ways.

Online giving offers contributors a way to give remotely at any time through a secure method.
Everything the Cathedral does is supported by your gifts. Pledges and contributions of any amount make a difference in our church and community.

Join the Friends of Music Society

Throughout the centuries, the church has served as a center for artistic and musical expression, helping to comfort, inspire, and refresh parishioners and visitors alike. The Cathedral Church of St. Peter has long had a reputation of providing musical arts in such a way that is accessible for all, deepens our worship life, and creates vitality within the community. Our ability to offer diverse artists and exciting programs is only possible through the generosity of donors like you. You are invited to join the Friends of Music Society and give today.

We give back to God through our time, talent, and treasure. Our time consists of worship, fellowship and service. God gives us nothing for our own benefit. Each us of has talents, whether it being a compassionate listener, a capable organizer, or an extroverted welcomer. Through the generous gifts of financial treasure, the Cathedral is able to do much: outreach to Campbell Park Elementary, fellowship activities, support of growing children’s, youth and music programs, bringing in excellent outside speakers, and yes, even paying the bills.
Regardless of what we have been given, every steward is tested by the same standard: faithfulness. Giving is an act of worship and trust where we prayerfully consider the abundance of God’s gifts in our lives and gratefully respond by making an offering to God in support of the mission of the church. We are the recipients of the financial legacy of those who have come before, and we want to leave that legacy and more for the future of the Cathedral. Your giving makes that possible.

Planned giving encompasses a variety of ways that gifts can be made to the church from accumulated resources. It usually involves financial or estate planning; however, it is not reserved for the wealthy. In general planned gifts are made through a bequest in a will, a life income gift, or gifts of special assets. If you would like to learn more about making a planned gift to the Cathedral, please contact Ray McColgan, Stewardship Chair.

Information about Growing our Endowment Fund and Guaranteeing our Future is available here.

If you have questions about giving at the Cathedral, please contact Ray McColgan, Stewardship Chair.

Gifts from Your IRA Benefit the Cathedral, Lower Your Tax Burden
Ray McColgan, Stewardship Chair

Although some of the rules concerning Required Minimum Distributions (RMDs) have changed, the benefits of contributing to the Cathedral directly from your IRA remain intact. The RMD is the amount federal tax law requires you to withdraw from your IRA if you are age 73 or older.

Giving some or all of your RMD to the Cathedral is a tax-advantaged way to contribute. By donating directly to the Cathedral from your IRA, you may reduce your tax liability. You must be age 70½ or older to qualify for this tax benefit. A total of $100,000 per year can be transferred directly from your IRA to the Cathedral (or other charity) without creating a taxable event.

If you normally take distributions from your IRA, those distributions create a taxable event and they must be included in your taxable income. If instead you give some of that money to the Cathedral, the amount you direct to the Cathedral from your IRA is not included in your taxable income.

You cannot take a deduction on your income-tax return for your gift of the RMD to the Cathedral, but because that amount is not part of your reportable income, you still save on taxes. For example, if you give $4,000 in this way, your taxable income will be reduced by $4,000 and you will pay no taxes on that amount.

Donors who have inherited an IRA from someone other than their spouse must withdraw all funds from the IRA within 10 years of the original owner’s death.  All amounts withdrawn from an inherited IRA create a taxable event, usually considered ordinary income subject to federal income tax. Therefore, a gift to the Cathedral directly from this type of IRA can provide a win/win opportunity for the donor and the Cathedral. And, like an RMD gift to charity by the IRA owner, the beneficiary of an inherited IRA must be at least age 70½ at the time of the distribution to get this special tax treatment.

You can name the Cathedral as the entire or partial beneficiary of your IRA. The Cathedral can then withdraw from the IRA tax-free and you become a member of our Legacy Society.

An increasing number of our members have discovered the benefits of contributing to the Cathedral directly from their IRA accounts and the financial advantages of this form of giving.

It could be very beneficial for you to check with your financial advisor about giving directly from your IRA. If you would like more information, please contact Ray McColgan (RMcColgan@me.com). If enough people are interested, an informational meeting can be planned.

Information from horizons.net and their 2022 Horizons Stewardship articles was included in this report.