One of the easiest and most common ways for you to support The Catholic Foundation is with a gift of cash. Cash can be used to support our work in the form of:

An outright gift. By making a cash gift by check, credit card or money order today, you enable us to meet our most urgent needs and carry out our mission on a daily basis. You will have the opportunity to see your generosity in action and will also receive a federal income tax charitable deduction, when you itemize.

A payable on death (POD) account. A POD bank account or certificate of deposit names one or more persons or charities as the beneficiary of all funds once you, the account owner, pass away. The beneficiary you name has no rights to the funds until after your lifetime. Until that time, you remain in control and are free to use the money in the bank account, change the beneficiary or close the account.

A gift in your will or living trust. Through a gift in your will or living trust, you can support The Catholic Foundation with a specific amount of money or a percentage of your total estate. This type of gift allows you the flexibility to change your mind at any time.

A charitable gift annuity. One of the most common ways to fund this gift that supports The Catholic Foundation and provides you and/or a loved one with fixed payments for life is with cash in the form of a check. A charitable gift annuity typically works well for those 60 and older.

A charitable remainder trust. Cash is the easiest and least complicated way to fund a charitable remainder trust. Oftentimes, it can provide the necessary liquidity to provide for payments to the income beneficiary when the trust is funded with hard to sell assets.

A charitable lead trust. You may always use cash to fund a lead trust. Oftentimes, lead trusts are funded with cash in addition to stock or real estate.

A donor advised fund. A gift of cash through check or credit card is one of the easiest ways to contribute to a donor advised fund. You receive a federal income tax charitable deduction equal to the amount of your cash contribution, when you itemize.

Memorial and tribute gifts. If you have a friend or family member whose life has been touched by The Catholic Foundation, consider making a gift to us in his or her name.

An endowed gift. Create an endowment or contribute to one that is already established to ensure that your support of The Catholic Foundation will last forever.

Next Steps

1. Contact Rebecca Harris at 601-960-8477 or [email protected] for additional information on giving a gift of cash.
2. Seek the advice of your financial or legal advisor.
3. If you include The Catholic Foundation in your plans, please use our legal name and Federal Tax ID.

Legal Name: The Catholic Foundation of the Diocese of Jackson
Address PO Box 2248, Jackson, MS 39225
Federal Tax ID Number: 23-7355930

Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.

Securities and mutual funds that have increased in value and been held for more than one year are one of the most popular assets to use when making a gift to The Catholic Foundation. Making a gift of securities or mutual funds to us offers you the chance to support our work while realizing important benefits for yourself.

When you donate appreciated securities or mutual funds you have held more than one year to us in support of our mission, you can reduce or even eliminate federal capital gains taxes on the transfer. You may also be entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.

Securities are most often used to support our work in the form of:

An outright gift. When you donate securities to The Catholic Foundation, you receive the same income tax savings that you would if you wrote us a check, but with the added benefit of eliminating capital gains taxes on the transfer, which can be as high as 20 percent. Making a gift of securities to support our mission is as easy as instructing your broker to transfer the shares or, if you have the physical securities, hand-delivering or mailing the certificates along with a stock power to us in separate envelopes. (Using separate envelopes safeguards your gift—the certificates will not be negotiable without the stock power.)

A transfer on death (TOD) account. By placing a TOD designation on your brokerage or investment account, that account will be paid over to one or more persons or charities after your lifetime. It is not necessary for the TOD designation to transfer all of the account solely to charity—you can designate a certain percentage of the account. With a TOD account, the beneficiary you name has no rights to the funds until after your lifetime. Until that time, you are free to use the money in the brokerage account, to change the beneficiary or to close the account.

A gift in your will or living trust. If you aren't ready to give up these assets during your lifetime, a gift of securities through your will or living trust allows you the flexibility to change your mind at any time. You can continue to receive dividends and participate in shareholder votes, and the securities are still yours if you need them for other expenses. In as little as one sentence you can ensure that your support for The Catholic Foundation continues after your lifetime.

A donor advised fund. When you contribute to a donor advised fund with appreciated securities, you may receive a federal income tax charitable deduction for the fair market value of the asset and eliminate capital gains tax. Because of our nonprofit status, The Catholic Foundation does not pay capital gain tax when we sell the gifted securities.

A memorial gift. If you have a friend or family member whose life has been touched by The Catholic Foundation, consider making a gift to us in his or her name.

An endowed gift. Create an endowment or contribute to one that is already established to ensure that your support of The Catholic Foundation will last forever.

A charitable gift annuity. Funding a gift annuity with appreciated securities or mutual funds will not only provide you with reliable payments for life and allow you to support our work, but it can offer numerous financial benefits. First, your annuity payments are often more than the dividends you would receive each year from the securities. Second, you will receive a federal income tax charitable deduction (when you itemize) in the year the gift is made and eliminate part of the capital gains tax you would have paid if selling the securities.

A charitable remainder trust. Highly appreciated securities are one of the best ways to fund a charitable remainder trust. You may be reluctant to sell such assets directly because of the tax you would pay on the gain; however, if the assets were transferred to a charitable remainder trust, the assets can be sold without incurring the capital gains tax. The trustee can then reinvest the proceeds in order to secure a higher current income yield.

A charitable lead trust. Rapidly appreciating assets such as stocks are a great way to fund a charitable lead trust. The assets transferred to the lead trust are frozen in value for transfer-tax purposes at the time of funding. At the end of the trust's term, all appreciation that takes place in the trust will pass tax-free to your heirs.

Do you have money saved in an employee retirement plan, IRA or tax-sheltered annuity? Each of these plans contains income that has yet to be taxed. When a distribution is made from your retirement plan account, your beneficiaries will owe federal income tax. Consider leaving your loved ones less heavily taxed assets and leaving your retirement plan assets to The Catholic Foundation to support our work.

As a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate to us from your plan. You can take advantage of this gift opportunity in several ways:

Name us a beneficiary of your plan. All this requires is updating your beneficiary designation form through your plan administrator. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your plan only if your primary beneficiary doesn't survive you.

With the IRA Charitable Rollover, if you are 70½ years old or older, you can take advantage of a simple way to help those we serve and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as The Catholic Foundation without having to pay income taxes on the money.

Fund a testamentary charitable remainder trust. When you fund a charitable remainder trust with your heavily taxed retirement plan assets, the trust will receive the proceeds of your plan upon your death. The trust typically pays income to one or more named beneficiaries for life or for a set term of up to 20 years, after which the remaining assets in the trust would go to support The Catholic Foundation. This gift provides excellent tax and income benefits for you while supporting your family and our work.

A donor advised fund.& When retirement plan assets pass to your heirs, distributions are taxed as ordinary income. This income tax burden can be substantial, greatly reducing the value of the intended gift. Instead, you can designate your donor advised fund as the beneficiary of all or a portion of your retirement plan assets. Your fund receives the full amount of the gift and bypasses any federal taxes.
 

Next Steps

1. Contact Rebecca Harris at 601-960-8477 or [email protected] for additional information.
2. Seek the advice of your financial or legal advisor.
3. If you include The Catholic Foundation in your plans, please use our legal name and Federal Tax ID.

Legal Name: The Catholic Foundation of the Diocese of Jackson
Address: PO Box 2248, Jackson, MS 39225
Federal Tax ID Number: 23-7355930

Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.

Did you realize that valuable antiques, stamp and coin collections, works of art, cars, boats, and other personal property can be used to support our work? Your treasures can make suitable charitable gifts today or after your lifetime. The financial benefits of the gift depend on whether we can use the property in a way that is related to our mission.

Related use property—e.g., a piece of artwork donated to an art museum—is deductible at the full fair market value. Any other property is deemed nonrelated use property and the deduction would be limited to the lesser of fair market value or your tax basis in the property.

If the federal income tax charitable deduction claimed for a gift of tangible personal property exceeds $5,000, you must obtain an appraisal from a qualified appraiser and submit a special IRS form with the tax return on which the deduction is claimed.

There are several ways to make a gift of personal property to us:

An outright gift. This allows you to benefit our work today and receive a federal income tax charitable deduction when you itemize.

A gift in your will or living trust. You can leave a legacy at The Catholic Foundation by donating your treasures to us through your will or living trust. A benefit of donating property through your will is that it gives you flexibility to change your mind at any time.

A bargain sale. You can sell us your property for less than the fair market value of the item. For example, if you sell us an antique for $25,000 that is worth $50,000, you will receive a federal income tax charitable deduction of $25,000 plus the payment from us of $25,000.

A memorial or tribute gift. If you have a friend or family member whose life has been touched by The Catholic Foundation, consider making a gift to us in his or her name.

An endowed gift. Create an endowment or contribute to one that is already established to ensure that your support of The Catholic Foundation will last forever.

A charitable gift annuity. You can sometimes use non-income producing property such as a valuable stamp and coin collections or works of art in exchange for life payments and a federal income tax charitable deduction. The amount of the charitable deduction depends, in part, on whether the donated items are retained by the charity and used for its tax-exempt purpose.

A charitable remainder trust. You may be able to contribute tangible personal property to a charitable remainder trust. If you or a family member is an income beneficiary, you will receive a federal income tax charitable deduction when the property is sold. An additional contribution of cash or appreciated securities is recommended to cover expenses until the tangible personal property is sold.

A donor advised fund. Gifts to donor advised funds are not limited to cash and securities. Tangible personal property such as valuable antiques, stamp and coin collections, works of art, cars and boats may be able to be gifted and sold to benefit your fund.

Next Steps

1. Contact Rebecca Harris at 601-960-8477 or [email protected] for additional information on giving a gift of personal property.
2. Seek the advice of your financial or legal advisor.
3. If you include The Catholic Foundation in your plans, please use our legal name and Federal Tax ID.

Legal Name: The Catholic Foundation of the Diocese of Jackson
Address: PO Box 2248, Jackson, MS 39225
Federal Tax ID Number: 23-7355930

Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.

Transforming Realty to Gift Reality

Real Estate

Want to make a big gift to The Catholic Foundation without touching your bank account? Consider giving us real estate. Such a generous gift helps us continue our work for years to come. And a gift of real estate also helps you. When you give us appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction. You avoid paying capital gains tax. And you no longer have to deal with that property's maintenance costs, property taxes or insurance.

Another benefit: You don't have to hassle with selling the real estate. You can deed the property directly to The Catholic Foundation or ask your attorney to add a few sentences in your will or trust agreement.

Ways to Give Real Estate

You can give real estate to The Catholic Foundation in the following ways:

Submit a few details and see the benefits of an outright gift.

SEE MY BENEFITS

An outright gift. When you make a gift today of real estate you have owned longer than one year, you qualify for a federal income tax charitable deduction equal to the property's full fair market value. This deduction lets you reduce the cost of making the gift and frees cash that otherwise would have been used to pay taxes. By donating the property to us, you also eliminate capital gains tax on its appreciation.

A gift in your will or living trust. A gift of real estate through your will or living trust allows you the flexibility to change your mind and the potential to support our work with a larger gift than you could during your lifetime. In as little as one sentence or two, you can ensure that your support for The Catholic Foundation continues after your lifetime.

Submit a few details and see the benefits of a retained life estate.

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A retained life estate. Perhaps you like the tax advantages a gift of real estate to our organization would offer, but you want to continue living in your personal residence for your lifetime. You can transfer your personal residence or farm to The Catholic Foundation but keep the right to occupy (or rent out) the home for the rest of your life. You continue to pay real estate taxes, maintenance fees and insurance on the property. Even though The Catholic Foundation would not actually take possession of the residence until after your lifetime, since your gift cannot be revoked, you qualify for a federal income tax charitable deduction for a portion of your home's value.

Submit a few details and see the benefits of a deferred charitable gift annuity.

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A deferred charitable gift annuity.  Are you tired of the hassles of maintaining your property such as paying taxes, utilities and repair bills? Consider donating the property to The Catholic Foundation in exchange for reliable payments for life for you (and someone else, if you choose). When you arrange a charitable gift annuity, you receive a federal income tax charitable deduction in the year you set up the gift annuity when you itemize on your taxes. If you use appreciated real estate to make a gift, you can usually eliminate capital gains tax on a portion of the gift and spread the rest of the gain over your life expectancy. A gift of unmortgaged property to fund a deferred gift annuity is preferable and generates the greatest tax benefit.

Submit a few details and see the benefits of a bargain sale.

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A bargain sale. Want to sell us your property for less than the fair market value? A "bargain sale" may be the answer. When you make a bargain sale, you sell your property to our organization for less than what it's worth. The difference between the actual value and the sale price is considered a gift to us. A bargain sale can be an effective way to dispose of property that has increased in value, and it is the only gift vehicle that can give you a lump sum of cash and a charitable deduction (when you itemize) at the same time.

Submit a few details and see the benefits of a charitable remainder unitrust.

SEE MY BENEFITS

A charitable remainder unitrust. You can contribute any type of appreciated real estate you've owned for more than one year, provided it's unmortgaged, in exchange for an income stream for life or a term of up to 20 years. The donated property may be a residence (a personal residence must be vacant upon contribution), undeveloped land, a farm or commercial property. Real estate works well with only certain variations of charitable remainder trusts. Your estate planning attorney, who will draft your trust, can give you more details.

A charitable lead trust. This gift can be a wonderful way for you to benefit The Catholic Foundation and simultaneously transfer appreciated real estate to your family tax-free. You should consider funding the charitable lead trust with real estate that is income-producing and expected to increase in value over the term of the trust.

A memorial or endowed gift. A gift of real estate may be a perfect way to honor your loved one in perpetuity. When you make an endowed gift of real estate, your contribution is invested with and becomes part of our endowment. An annual distribution is made for the purpose you designate. Because the principal remains intact, the fund will generate support in perpetuity.

A donor advised fund. When you transfer real estate to your donor advised fund, you avoid capital gains taxes and qualify for a federal income tax deduction based on the fair market value of the property when you itemize on your taxes.

Check Out This Potential Scenario

Janet purchased a rental property years ago and has watched it grow steadily in value. Still active in her career and traveling frequently, she's beginning to find management of the property more and more of a hassle. At this stage of her life, Janet has decided to move to a 55+ condominium development, where all exterior maintenance is provided and she doesn't have to worry about security issues. Janet sees this as an opportunity to give her rental property to a charity that's important to her while realizing valuable tax benefits.

Janet avoids capital gains tax on the appreciation and qualifies for a federal income tax charitable deduction of $250,000, which is the property's fair market value today. She is able to claim 30 percent of her $200,000 adjusted gross income, or $60,000, in the year of the gift. In the five years following, she can continue to use up the remaining $190,000 deduction. Janet is happy in her new condo and loves knowing that the gift of her property will make a big difference supporting our mission.

Next Steps

1. Contact Rebecca Harris at 601-960-8477 or [email protected] to discuss the possibility of giving real estate to The Catholic Foundation.
2. Seek the advice of your financial or legal advisor to make sure this gift fits your goals.
3. If you include The Catholic Foundation in your plans, please use our legal name and Federal Tax ID.

Legal Name: The Catholic Foundation of the Diocese of Jackson
Address: PO Box 2248, Jackson, MS 39225
Federal Tax ID Number: 23-7355930

Learn more about the many ways to use real estate to support The Catholic Foundation in the FREE guide 7 Ways to Donate Real Estate.

VIEW MY FREE BROCHURE

Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.