Gifts That Reduce Your Taxes

You can make an immediate and lasting impact on our Catholic faith community. What’s more, you can also enjoy tax benefits from these gifts now, or you can establish a future gift that will pass tax benefits along to your loved ones.

Gift of Cash

Cash is the simplest asset to donate and the quickest way to make an immediate impact for the diocese. If you want to further our work today and claim the entire amount of your gift as a charitable income tax deduction, consider a gift of cash. Make your gift online, via a check or money order, or with a wire transfer.

Stocks & Securities

When you give stock or securities (stock, bonds, mutual funds), you may be eligible for a double tax benefit: 1) You receive an income tax deduction for the full, present, fair market value of the assets and 2) you may completely avoid capital gains tax on the appreciation of the assets. This is one of the easiest gifts to give and one of the most useful in accomplishing your philanthropic goals. 

Retirement Assets

A gift of your retirement assets, such as an employee retirement plan, IRA, or tax-sheltered annuity, is an excellent way to make a gift. A gift of these assets can shield you or your heirs from taxes while fueling our important mission.

Life Insurance

Transfer ownership now:

To make an impact on our mission today, irrevocably designate the diocese as owner and beneficiary of an existing life insurance policy. If your policy is paid up, you will receive an immediate income tax deduction based on the policy value.

If your policy is not yet paid up, you will make contributions of cash to the diocese to cover future premium payments. For any continuing premium payments you make, you will receive a charitable deduction in the year of the payment.

 

Name us as a beneficiary:

You can name the diocese as a beneficiary of all or a portion of your life insurance policy. With this gift arrangement, the diocese will receive the proceeds of your policy when you pass away. You can change your beneficiary at any time and may reduce your estate taxes.

This gift is easy to arrange — simply request a beneficiary designation form from your plan administrator.

Personal Property

A gift of artwork, coins, antiques, or other personal property can be an excellent way to support the diocese. The tax benefits of the gift depend on whether the diocese can use the property in a way that is related to its mission. Contact us to learn more about this type of gift — we would be happy to help you find the option that best fits your philanthropic goals

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Beth Shearer