Other Ways to Give

There are opportunities for generosity everywhere this year: pledges you want to keep and ways you can step in to help exactly as you know God is calling you to do. At the same time, you may be hesitant to deplete your cash reserves because there is so much uncertainty right now.

Consider one of the following tax-smart options to help you give as God is leading you and to honor your giving commitments without depleting your cash:

These are securities held for more than one year – such as stocks, bonds, exchange-traded funds (EFTs), and mutual funds. Gifts of appreciated stocks may be deducted at full market value. Save on capital gains taxes while providing a contribution to us. Stocks must be transferred to us before being sold to receive tax benefits.

Guidelines for Stock Donation to Diocese – 2021

A donor-advised fund is a philanthropic giving vehicle that allows individuals to donate assets for your parish, school or Diocese today, and receive a tax deduction now, while maintaining discretion about when the assets will be granted to charity.

It’s easy to make a gift You make a gift of cash of other assets to your fund. You may get a potential tax deduction at the time of your gift. Then, you recommend grants to support your favorite causes and charities.

A Qualified Charitable Distribution (QCD), also known as an “IRA Charitable Rollover Gift” is money that you as the donor can transfer directly from your traditional IRA account to any 501(c)3 charity. This is one of the most tax efficient ways for donors 70.5 and older to make charitable gifts, because making a QCG lowers a donor’s taxable income.

And, if you are 72 or older, you don’t need the money from your IRA just yet, and you don’t want to pay more in taxes, donating your RMD (Required Minimum Distribution) is a great option.

We hope these tax-smart strategies will help you choose the most advantageous vehicle to make an impact to your parish, school or Diocese. May you experience the joy that giving can bring.

We pray that God will bless you abundantly, so that you’ll have everything you need to accomplish every good work you hope to do!

*This information is intended to be a general overview of some donation considerations and is not intended to provide tax or legal guidance. Please consult with your tax or legal advisor.