Dec. 7, 2016 By Scott Lalone There are many factors to consider when making your year-end gifts. The obvious one is what organization(s) am I choosing to support. A second is what giving method should I utilize for this/these gifts. For those who may be considering their faith as something they wish to support, there are many giving options you can choose from. Some which can benefit you as well in a variety of ways. Outright cash gifts provide an immediate impact while stock gifts can often avoid capital gains tax. Wills & Bequests are considered often times by donors this time of the year which can provide possible estate tax deductions. Charitable Gift Annuities provide a stream of income back to the donor with the balance going to its beneficiary choice upon the donor passing. Two-Life Annuities are also an option. Insurance Policies have tax advantages and your designation can be listed in the beneficiary of the policy itself. Retirement/IRA’s are a giving method with tax savings as well. Endowment gifts make a lasting gift with a permanent legacy. The type of gift, the form of the gift, the benefit to the organization and the benefit to you are all the things to consider when making your year-end contribution. Beneficiary choices you can consider can include: your Parish or Catholic School, the Diocese, the Foundation, Education of Priests and Seminarians, Priests Retirement Fund, Bishop’s Fund, Missionary Projects of the Diocese of Ogdensburg, Catholic Charities, St. Joseph’s Nursing Home or any Ministry or program of the Diocese. If you have any questions regarding making a gift to your Parish, Catholic School, the Diocese, a particular Priests Fund or Ministry, contact Scott Lalone, Development Executive Director at the Diocese of Ogdensburg at 315-393-2920 or slalone@rcdony.org. |