Life Planning Workshops Coming Your Way Soon

Life Planning Workshops

On far too many occasions, individuals and families wonder and worry about some very important questions regarding their futures.  Who will make my healthcare and financial decisions when I cannot speak for myself?  How do I make healthcare and financial decisions for a love one?  Is my will or trust from another state valid in Florida?  Who will care for my children if something happens to me?  What will happen to my assets after I die?  Do I want the government making these decisions for me?

 

If you and your family members do not know the answer to these questions, you can find them out by attending one of the many free “Planning for Tomorrow” workshops and education sessions presented by the Catholic Community Foundation of Southwest Florida.

 

The Foundation is once again partnering with Parishes throughout the Diocese of Venice to host complimentary workshops and free one-on-one educations sessions to provide participants with the knowledge needed to make critical health, legal, and financial decisions for themselves and/or a loved one.

 

Attendees will obtain important information on:

  • Avoiding Guardianship
  • Wills vs. Trusts
  • Probate
  • Durable Power of Attorney
  • Beneficiary Designations
  • Healthcare Surrogates
  • Advanced Directives
  • Financial Planning
  • Smarter Ways to Give and More

 

To find the closest workshop or education session to you, or to reserve your place, please call 941-486-4722 or email CCF@dioceseofvenice.org.

 

Qualified Charitable Distributions – A Real Life Example

A Real Life Example

If you have reached the age that you must take a required minimum distribution (RMD) from your IRA, did you know that you can transfer up to $100,000 each year from your IRA directly to a qualified charity like the Catholic Community Foundation, your Parish, School or other Catholic Program or Ministry?  By rolling over your IRA distribution directly to a charity, it qualifies as your RMD and you avoid having to include the distribution as taxable income.  Beginning in 2020, the age at which RMDs must start is 72, however, individuals can begin making Qualified Charitable Distributions (QCDs) from their IRAs as early as age 70½.

 

Qualified Charitable Distributions (QCDs) provide a powerful opportunity for donors from all income levels to support the Catholic Parishes, Schools and Ministries about which they care most.  Some of today’s retirees have more money in their IRAs than they need for daily living expenses and/or their long-term care.  They are able use the surplus in their IRAS to help make a significant difference in the lives of others, without negatively impacting their own quality of life.  Other retirees with more modest incomes, like Mike and Ronda, can also benefit from QCDs.

 

 

Mike and Ronda are both retired Catholic School teachers and have always been loyal

supporters of their Parish, contributing their time, talent, and treasure on a regular basis. In addition to their other retirement income, they have two small traditional IRAs, from which they are required to take $1,000 per year as their Required Minimum Distribution (RMD). Since they pay 10% income tax in their retirement, they are bringing home a total of $900 per year from their IRAs after taxes. Simply by having their IRA custodian transfer the full $1,000 RMD directly to their Parish instead of receiving the distribution themselves, they will receive the following benefits:

  • Entitles them to tax benefits without requiring them to itemize their deductions
  • They increase their Parish giving by 10% without costing them one additional penny
  • Instead of giving $100 in taxes to the government, they are giving it to the Church

 

By using QCDs for their charitable giving, donors like Mike and Ronda can decide each year if and/or how much of their RMD they would like to use.  In fact, they can distribute up to $100,000 each calendar year from their respective IRAs regardless of the size of their RMDs. They can even decide to support multiple charities from the same IRA.  However, they must make sure that donations are dispersed from their IRA directly to a qualified charity to qualify for the tax benefits.

 

To learn more about Qualified Charitable Distributions, please use your smartphone to scan the QR Code  or visit www.ccfdioceseofvenice.org/giving/ira-charitable-rollover/.

 

 

Have You Left Your Parish in Your Will or Trust?

A bequest is one of the easiest gifts you can make while also being one of the best ways to support the long-term sustainability of your Parish.  With the help of an advisor, you can include language in your will or trust specifying the gift you would like to make as part of your estate plan.  A bequest can be made in several ways including a specific dollar amount or asset, a percentage of the total estate, or the balance or residue of the estate.

You can also name your Parish as the beneficiary on various accounts and assets like life insurance policies, IRAs, 401(k)s, bank accounts and more.

The Catholic Community Foundation of SW Florida has a new Legacy Giving form that you can fill out to let your Parish, School or favorite Catholic entity know that you have named them in your will or trust or as a beneficiary.  This form can be found at https://ccfdioceseofvenice.org/2754-2/

 

You Can Now Donate Cryptocurrency

There are many ways a donor can support their favorite Catholic program or entity through the Catholic Community Foundation including:

Now donors have a new option.  As of April 2022, donors can donate 42 different types of cryptocurrency through the Catholic Community Foundation for the benefit of their Parish, School or other Catholic program or ministry.  By donating long-term appreciated crypto, donors can avoid paying capital gains tax and be able to claim the donation as a tax deduction, if they itemize.

Donors are able to support multiple Catholic entities by using their cryptocurrency donation to establish a Donor Advised Fund (DAF) with the Catholic Community Foundation, receiving a tax deduction for the full fair market value of the crypto, then using their DAF to provide gifts to the organizations about which they care most.

Cryptocurrency donations can also be used to establish or add to endowment funds, scholarship funds, and charitable gift annuities with the Foundation.  To make a cryptocurrency donation, please visit  https://ccfdioceseofvenice.org/cryptocurrency-donation/ or for more information, please contact Michael Morse at 941-441-1124 or by email at Morse@dioceseofvenice.org.

 

Foundation Donors Provide Record Amount in Grants

During the period of July 1, 2021 through March 31, 2022, Catholic Community Foundation donors provided a record $4,163,263 in grants to Catholic Parishes, Schools, programs, and ministries as well as to pro-life and social service agencies whose missions and purposes are in alignment with the teachings of the Catholic Church.  These grants were generated from endowment funds, scholarship funds, donor advised funds, charitable gift annuities, and outright gifts entrusted to the Foundation.  Every dollar granted by the Foundation was directed by a donor for a specific purpose or beneficiary.  One of the main purposes of the Foundation is to help safeguard donors’ assets and to ensure that donations will always be used in alignment with their wishes.   Thank you to the many donors who choose to give through the Foundation.

 

First Friday Prayer Intentions with Bishop Dewane

On the first Friday of every month, Bishop Frank Dewane leads a prayer for all of the intentions that were submitted during the previous month. The Catholic Community Foundation of Southwest Florida invites you to submit your prayer intentions as “comments” on our Facebook First Friday Prayer Intention post at www.facebook.com/ccfdov.  You can also access prayers and posts from previous months by visiting our website at www.ccfdioceseofvenice.org.  If you would like to submit your prayer via email, please send it to CCF@dioceseofvenice.org or you can mail it to Catholic Community Foundation, 1000 Pinebrook Rd, Venice, FL 34285.

Please know that First Friday Prayer Intentions with Bishop Dewane is a free service brought to you by the Catholic Community Foundation and donations are not expected nor encouraged as part of this program.

 

Easter Blessings

He is risen!  Alleluia, Alleluia!

At this most holy time, we can all be thankful for the many gifts and blessings the Lord has bestowed upon us.  First and foremost among those gifts is Jesus Christ, whom the Father sent to save us.  By Christ dying for our sins and rising from the dead, we have been restored.  We are now called to be His disciples, to live out His Word, and to spread the Gospel message to everyone we encounter.  Imagine living in a world where we all strive to see Christ in one another and to be Christ to one another.  May the blessings of the Lord be upon you and your loved ones.

 

2020 -21 Annual Report

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Applications being accepted for scholarships

Diocese of Venice Article by Bob Reddy

Applications being accepted for scholarships

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*The Catholic Community Foundation of Southwest Florida does not provide legal, tax or financial advice.  When considering gifting options, seek the advice of your own legal, tax and/or financial professionals.

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