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Archives Development office offers guidance for year-end giving

Nov. 15, 2017

By Scott Lalone
Diocesan Development Director

There are many factors to consider when making your year-end gifts. One primary decision is what organization(s) you are choosing to support.

For those who may be considering their faith as something they wish to support, beneficiary choices include: your parish or Catholic school, the diocese, the Foundation of the Roman Catholic Diocese of Ogdensburg, 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.

Another factor to consider is the method of giving you should utilize for this/these gifts; there are many giving options from which to choose, some of which can benefit the donor in a variety of ways:
• Outright cash gifts provide an immediate impact while stock gifts can often help you avoid capital gains tax.

• Wills and bequests, which can provide possible estate tax deductions, are often considered by donors this time of the year

• 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 often set up by a husband and wife.

• Insurance policies offer tax advantages and your designation can be listed in the beneficiary of the policy itself.

• Real estate gifts can be given without incurring tax appreciation and there is an option to donate your home and remain living in it until passing.

• Retirement/IRA’s are becoming a more popular way of giving with tax savings as well for those 70 ½ and older. 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 things to consider when making your year-end contribution.

If you have any questions regarding making a gift, you can contact Scott Lalone, Development Executive Director at the Diocese of Ogdensburg at 315-393-2920 or slalone@rcdony.org.

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