1. Matching Gifts: Check with your employer to find out if a matching gift program is offered. A matching gift leverages the donor’s gift to a higher level.
2. Stock, real estate, and other gifts: For questions regarding this, our clients’ needs and our volunteer opportunities, please contact our office at 318-865-0200.
3. Donate In-Kind Gifts: Contributions of personal and grooming items, office supplies and furniture, as well as infant needs and dry and canned goods for our food pantry, are also needed.
4. Marketable Securities: A gift of marketable securities, which are otherwise subject to long-term capital gains, is often advantageous. Avoid payment of capital gain tax on the increase in the value of the stock. Receive deduction for the full fair market value of the stock at the time of the gift, subject to limitations.
5. Life Income Trusts: Place assets in a trust and retain the right to trust income. At the end of the trust, the remainder goes to Catholic Charities. The tax deduction will depend upon the value passed to Catholic Charities. The advantage of life income trusts is there is a flexibility in the type of property that can be donated and it can provide a fixed amount of income (Charitable Remainder Annuity Trust) or a variable level of income (Charitable Remainder Unitrust).
6. Charitable Lead Trusts: Assets are placed in a trust, and Catholic Charities receives income for a period of time. Assets are then returned to the donor or other beneficiary at the end of the designated period. With a charitable lead trust, a donor can fulfill a gift pledge while reducing estate and gift taxes that might otherwise be due on assets passing to heirs.
7. Life Insurance: If you have a life insurance policy that your heirs don’t need, make Catholic Charities the beneficiary on the policy. The policy proceeds are deductible for your estate tax purposes. You may also receive a current income tax deduction for the premiums paid by making Catholic Charities the owner of the policy.
8. Bequest in a Will: Outright bequests, as well as certain bequests in trust, are not subject to estate taxes.
Bequests can take any of the following forms:
– Bequest of a dollar amount, particular securities, or other property.
– Residual bequest of all or a portion of an estate after payment of specific amounts to other beneficiaries.
– Contingent bequest to take effect if beneficiaries die before the testator.