This page illustrates some of the ways one can maximize a gift through pledges, employer matching or increasing and advancing personal and estate planning interests. It is intended to provide simple examples of complicated transactions as Catholic Charities does not provide tax advice. Donors should consult with their own financial and tax advisers before finalizing a gift.
For more information about how you can benefit the work of Catholic Charities,
contact Bart Weigel at (502)637-9786 or bweigel@archlou.org
Pledges:
| You may extend your gift over a three- to five-year period. Gifts are deductible in the year a payment is made. |
Matching Gifts:
| You should check with your employer to take advantage of matching programs offered by many employers. A matching gift leverages a donor’s gift to a higher level. |
Marketable Securities:
| A gift of marketable securities, which are otherwise subject to long-term capital gains, is often advantageous. Avoid payment of capital gains tax on the increase in the value of the stock. Receive deduction for full fair market value of the stock at the time of the gift, subject to limitations. |
Stamp Collections, Art Collections, Jewelry:
| You receive a deduction for your basis in the gift. Catholic Charities then converts the property to cash. |
Life Income Trusts:
| Place assets in Trust and retain right to Trust income. At the end of the Trust, remainder goes to Catholic Charities. Tax deduction will depend upon value passing to Catholic Charities. The advantages of life income trusts, is that there is flexibility in type of property that can be donated and it can provide a fixed amount of income (Charitable Remainder Annuity Trust) or a variable level of income (Charitable Remainder Unitrust). |
Charitable Lead Trusts:
| Assets are placed in Trust and Catholic Charities receives income for a period of time and then the assets return to donor or other beneficiary at end of designated period. With a charitable lead trust, a donor can fulfill a gift pledge while reducing estate and gift taxes which might otherwise be due on assets passing to heirs. |
Life Insurance:
| If you have life insurance that your heirs don’t need, make Catholic Charities the beneficiary of the policy. The policy proceeds are then deductible for your estate tax purposes. You may also receive a current income tax deduction by making Catholic Charities the owner of a policy. |
Bequests:
Remember Catholic Charities in your estate planning:
- Bequest of a dollar amount, particular securities or other property.
- Residual bequest of all or portion of estate after payment of specific amounts to other beneficiaries.
- Contingent bequest to take effect if beneficiaries die before the testator.
A bequest can often be arranged simply with the addition of a codicil amending an existing will. |
Qualified Benefit Plans (including individual retirement accounts and 401K plans):
| Consider naming Catholic Charities the beneficiary of your qualified benefit plan, thereby avoiding both the income and estate tax which would otherwise be payable on these benefit plans. |
DISCLAIMER
| Catholic Charities of Louisville is an affiliate of Catholic Charities USA, and it derives much of its financial resources from public donations, including those received via this website. If unsure as to the legitimacy of online donation channels, individuals and agencies who wish to donate to Catholic Charities should contact Catholic Charities of Louisville and/or Catholic Charities USA. Neither Catholic Charities USA, nor any of its affiliates throughout the United States are in any way associated or affiliated with the organization whose website is www.catholic-charities.net, does not control such website, and is not responsible for its contents. For more information, please do not hesitate to contact Catholic Charities of Louisville or Catholic Charities USA.
Remember, donors should consult with their own financial and tax advisors before finalizing gifts. |
