This season fills our calendars with activities and our hearts with thankfulness for loved ones and the faith we share. Many of us begin to think about year-end gifts to the Church and other causes we care about most. Giving to the Church before the end of the year makes a difference to our local parishes and Diocese and provides you with tax benefits.
Would you like to finish the year with a gift that maximizes your impact and reduces your taxes? Consider the four options below:
Make an Immediate Difference
When you support our mission by simply writing a check or giving online, you make great things happen and may receive a federal income tax charitable deduction. If you itemize, you can write off your donation amount, resulting in lower taxable income. If you are unsure whether your gift is tax-deductible, contact your financial advisor or tax consultant.
Did you know? Your envelope must be postmarked on or before Dec. 31 for your donation to qualify this year. Online gifts can be made up to midnight on Dec. 31st.
Use Appreciated Securities
By donating appreciated securities you have owned for longer than one year, you receive the same income tax savings as you would by making a cash gift. You also eliminate any tax on the appreciation.
Did you know? If the securities are electronically transferred to us, the gift date is the day the securities enter our account—not the date you ask your broker to make the transfer.
Contribute to Your Donor Advised Fund (DAF)
Add funds to an existing DAF or open a new one with the Idaho Catholic Foundation by scanning the QR Code.
Did you know? You qualify for a tax deduction when you make a gift to a DAF, without immediately having to choose the organizations you want to support. If you are ready to make an impact with your DAF, consider recommending a grant (or recurring grants) to support the Idaho Catholic Church.
Make a Gift From Your IRA
If you are 70½ or older, you can give any amount up to $100,000 from your IRA directly to the Idaho Catholic Church. You will not pay income taxes on the transfer. If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation. Your IRA administrator must remove the funds from your account by Dec. 31 for your donation to qualify this year.
Did you know? If you have check-writing features on your IRA, your check must clear your account by Dec. 31 to count toward your required minimum distribution for the calendar year.
The Countdown Is On
As we approach the end of the year, we are happy to help ensure that you realize the greatest benefit for your kindness. For more information, please contact Margaret Hampton at (208) 342-1311, ext. 5139 or firstname.lastname@example.org.
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