Planned giving, or legacy giving, is a way for donors to support the Good Works of the Catholic Church in a way that is much more impactful than making a gift from ordinary income. Some planned gifts use estate and tax planning to maximize the benefits to the donor, their estate, their heirs and the charity they wish to support. Other planned gifts can provide guaranteed lifetime income to the donor or their loved ones.
Thus, by definition, a planned gift is any major gift that comes from a donor’s overall financial and/or estate planning and includes:
- Outright gifts of appreciated assets, cash or retirement income
- Gifts that return income to the donor
- Gifts payable to the charity upon the donor’s death
*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.
Gifts of Appreciated Assets
Instead of selling appreciated assets like securities or real estate to make a gift, donors can donate the appreciated asset directly to the Foundation and receive a charitable deduction for the full market value of the asset and pay no capital gains tax on the transfer.
A bequest is one of the easiest gifts you can make. With the help of an adviser, 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
- The balance or residue of the estate
Charitable Gift Annuities
Are you looking for a secure source of fixed income for the rest of your life while also making a significant impact on your Parish, school, program or ministry you care most about? Are you tired of living at the mercy of fluctuating stock and real estate markets? If so, you may want to consider a charitable gift annuity with the Catholic Community Foundation.
IRA Charitable Rollover
When you transfer funds directly from your Individual Retirement Account (IRA) to your Parish, school, program, ministry or other qualified charity, you earn tax savings and make an immediate impact on the Good Works of the Catholic Church.
Americans age 70½ or older can distribute up to $100,000 in a calendar year from an IRA to the Church tax-free. This can be a significant benefit for IRA owners who are required each year to take minimum required distributions, which are included in gross income. If your spouse has a separate IRA, he or she can also make an IRA Charitable Rollover gift. The amount of the transfer will not be included in your taxable income (which will reduce your taxes), and the transferred amount can count toward the IRA’s required minimum distribution.