GIVING
Planned Giving
Planned Giving, also called Legacy Giving, refers to a substantial charitable contribution made as a component of an individual’s financial or estate planning. Planned Giving is unique, in that it provides donors with a means to fulfill their charitable and philanthropic wishes even after their lifetime. Planned Giving creates a long-term charitable commitment to the Catholic Foundation through wills, trusts, life insurance policies and other estate plans.
Types of Planned Gifts
Cash Gift
Life Insurance
(designating the Catholic Foundation as the death beneficiary)
Stocks and Bonds
Real Estate
Retirement Assets
(IRA, 401(k), 403(b) and some other types of retirement accounts. The account owner designates the Catholic Foundation for a share of the death benefit)
Gifts devises under the donor’s Will
Gifts devises under the donor’s Will The donor may designate a specific dollar amount, percentage share of the estate, or a particular asset, or a share or all of the residue.
Gifts devises through a donor’s living trust
The donor may designate a specific dollar amount, percentage share of the estate, or a particular asset, or a share or all of the residue
Life Estates
Donate your home/vacation home while continuing to reside in it. The donor receives a current tax deduction and continues to use and maintain the home. After your lifetime, we sell the property and funds are distributed as you designate.
Beneficiary Designations
Utilize a simple form for your life insurance policy, retirement plan and bank account. These gifts will qualify for a charitable estate tax deduction. Retirement account gifts will pass to the Catholic Foundation free of income taxes, so 100% of your gift will be available for good works in the community.
Charitable Gift Annuities
For donors who are 55 and older. The donor transfers the asset to the Catholic Foundation and receives annuity payments for life. The annuity may be deferred for a period in exchange for larger payments later. The donor will receive an immediate income tax charitable deduction and a portion of the monthly payments will be income tax-free.
Charitable Lead Trusts
For gifts of $100,000 or more, the charity will get the use of the gift for a term of years, which will reduce the donor’s estate or gift taxes. After the trust term ends, family or beneficiaries receive the This may be established during your lifetime or after your lifetime through your will or living trust.
Charitable Remainder Trusts
For gifts of $20,000 or more, the trust will provide a stream of income payments to the donor or one or two other named individual beneficiaries. Income payments are paid either throughout the lifetimes of the individual beneficiaries or for a term of years. After the trust term ends, the charity receives the remainder. A charitable remainder trust may be established during the donor’s lifetime or after the donor’s death through the donor’s will or trust.
The Catholic Foundation welcomes the opportunity to work with you and your financial and legal advisors to create a charitable giving plan that aligns with your long-term vision and goals and is consistent with your financial and estate plans. All of these opportunities may be customized to meet your charitable intentions.