Gifts You Can Give Now

…everything has its origin in God’s love, everything is shaped by it, everything is directed towards it. Love is God’s greatest gift to humanity, it is his promise and our hope. “Caritas in Veritate” Pope Benedict XVI

An outright gift of assets

IRA Qualified Charitable Distributions (QCD)

If you can live without using withdrawals from your IRA, an IRA gift is one of the smartest ways to make a real impact for your parish, a ministry or the diocese. An IRA Qualified Charitable Distribution (QCD) is excluded from taxable income so there is no need to itemize to benefit. Although beginning in 2020, required minimum distributions (RMD) do not have to be taken until you turn 72, you still can make Qualified Charitable Distributions at 70 ½. You can give up to $100,000 from a traditional (not ROTH) IRA directly to the charity.

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Appreciated Securities Donations

Donating shares of publicly traded appreciated stock or mutual funds can be a meaningful gift for your parish, a ministry or the diocese. The tax benefits could make it less costly than a comparable cash gift. Capital gains tax is not assessed. Plus, for a security held for more than 12 months, the fair market value of the gift is deductible if you exceed the threshold for deductions. Values up to 30% of your adjusted gross income are eligible for deduction and can be carried over for up to five years.

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Donor Advised Funds

A Donor Advised Fund provides a solution to fulfill one’s giving goals. Consider the advantages when compared to a traditional investment portfolio or family foundation.

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Land & Real Estate

There are a variety of different options when considering the donation of land, real estate, or a similar asset. That being said, there are some important things to keep in mind before imitating such a donation.

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Gifts of Grain

Cash basis farmers who harvest their crops in the fall and make their plans for spring planting may find that making a charitable gift is an especially effective way to “share the harvest.” The value of the contributed grain is excluded from income so there is no need to itemize to get the benefit. In many cases the donated grain lowers the income subject to self-employment tax.

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Other assets:

  • Paid up life insurance redeemable for cash value
  • Marketable real estate
  • Marketable tangible personal property

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