A charitable bequest in your will is one of the simplest and most impactful ways for you to establish a legacy with your favorite organizations. Donors can bequeath specific items, specific sums of money, or a percentage of their estate. This can be done alongside making provisions in your will for loved ones. You can have it both ways: Ensure the financial well-being of your family and provide for the charities that you love. Click here for more information.
Creating a gift in your estate plan is easier than ever thanks to our relationship with FreeWill.com. In 20 minutes or less, you can write a legal will for free, and include the necessary language to support your parish, alma mater, or favorite nonprofit ministry. Get started on your free will here. (Disclaimer)
If you do not have a relationship with an attorney or tax and estate practitioner, a member of our Professional Advisors Council can help you include your favorite Catholic organizations in your estate plan.
DAFs provide you with a centralized, efficient, and accessible repository to manage your charitable giving. Gifts of cash, securities, or other appreciated assets may be gifted into a DAF, and a minimum of $10,000 is needed to begin the fund. You may recommend grants from the fund at any time to organizations; no minimum annual distributions are required and additional contributions may be made at any time. Grants can be made to any 501(c)3 organization provided its mission does not conflict with Catholic teachings. Click here fore more information.
Endowment funds are to our parishes, schools, or nonprofit ministries what retirement funds are to an individual: set-aside resources for the future. Once established with a minimum gift of $10,000, anyone can make additional contributions to a fund in any dollar amount. You may establish an endowment to benefit a single or multiple organizations through the annual distribution. Click here for more information.
A gift of appreciated securities (including stock, bonds, and mutual funds) generally provides you a full market value tax deduction. When compared with selling the securities and donating after-tax proceeds, this provides an increased gift and tax deduction through avoiding long-term capital gains. Click here for a stock transfer form.
Naming an organization as a beneficiary of your insurance policy or retirement account allows these gifts to pass to the charity outside your will. Additionally, naming an organization as both owner and beneficiary of an insurance policy can provide immediate tax benefits to you. In many cases, updating beneficiaries may be completed online or via a simple form and multiple beneficiaries may be named.
The SECURE Act became law on December 20, 2019. The Secure Act made major changes to the Required Minimum Distribution (RMD) rules. If you reached the age of 70½ in 2019 the prior rule applies, and you must take your first RMD by April 1, 2020. If you reach age 70 ½ in 2020 or later, you must take your first RMD by April 1 of the year after you reach 72. The funds are sent directly from your IRA administrator to charitable institutions, which reduces your taxable income. For more information or to notify the foundation of a QCD you plan to make for an archdiocesan parish, school, or ministry, download this flier.
CGAs provide you with fixed income payments for life, no matter how long you live. At the end of your life, the remainder of the annuity benefits the organization(s) you designate. You may also choose a Deferred Charitable Gift Annuity to begin receiving income payments at a later date and higher rate. Click here for more information.
Charitable Trusts are legal entities which provide support to your favorite causes while providing gains for you or your loved ones. A Charitable Lead Trust (CLT) generates income for your charity of choice over a set number of years, after which you or your loved ones regain ownership of the assets. A Charitable Remainder Trust (CRT) provides you or a loved one with annual income for a period of years or your lifetime; afterwards, the trust remainder is transferred to support your favorite organization’s mission. Click here for more information.
The Catholic Community Foundation, Office of Catholic Schools, and the Archdiocese of New Orleans have partnered to launch the Aspiring Scholars program. Aspiring Scholars is a 501(c)3 School Tuition Organization offering low- to moderate-income families scholarship assistance for Catholic education through the State of Louisiana Tuition Donation Credit Program.
Individuals or businesses can give all or a portion of their state tax liability to fund scholarship opportunities, directly benefiting children in our community. Donors to Aspiring Scholars can claim a 95% credit on their state income taxes. To learn more, visit www.aspiringscholarsla.org and contact Julie Talbot.