WAYS TO GIVE
While donating from a personal bank account is the most common way to support our churches or school, several other impactful giving options are available.
"I am the vine, you are the branches. Those who abide in me and I in them bear much fruit, because apart from me you can do nothing"
~ John 15:5
Donor Advised Fund (DAF)
A SIMPLE AND TAX-EFFICIENT WAY TO SUPPORT YOUR CHURCH AND SCHOOL
Open a DAF through a sponsoring organization (such as a financial institution, community foundation, or charitable organization), or use an existing fund you already have. Log in to your DAF account and recommend a grant to any of the four entities of the cluster parish. Enter the donation amount, and indicate whether the gift is one-time or recurring. You may need the church’s legal name and mailing address. Some sponsors also request tax ID information. Decide whether the donation is made in your name, in someone else’s name, or anonymously. Once approved, the DAF sponsor sends the funds directly to the entity, usually by check or electronic transfer, along with any designation or note you included. Consult your financial advisor or banker to determine if this is right for you.
Individual Retirement Account (IRA)
MAKE YOUR CHARITABLE CONTRIBUTIONS FROM YOUR IRA
In late 2022, Congress passed SECURE Act 2.0 which requires a Required Minimum Distribution (RMD) to be made from an IRA once you turn age 73 for people born between 1951 and 1959. RMDs will be required at age 75 for people born 1960 or later. However, you can begin making a Qualified Charitable Distribution (QCD) from your IRA once you turn age 70-1/2 or anytime thereafter. Many folks are opting to make their QCD from their IRA to St. Joseph Church, St. Augustine Church, or St. Joseph's School. By giving from an IRA, you are not only supporting your cluster parish, but you are also avoiding a penalty and income tax on that distribution. Consult your financial advisor or banker to determine if this is right for you.
Stocks, Bonds & Mutual Funds
TRANSFER OWNERSHIP OF THE ASSET DIRECTLY TO THE CHURCH
Transferring stocks or securities is a very popular way to make a gift to your parish or school. This is true for several reasons: 1) stock gifts typically have less impact on your monthly budget; 2) you can deduct the fair market value of stock not what you paid for it; and 3) neither you nor the parish or school pays capital gains tax. Once the transfer is complete, the church typically sells the securities and uses the proceeds to support its ministries. By giving in this way, donors may avoid capital gains taxes on the appreciated value of the asset while receiving a charitable deduction for the full fair market value, subject to IRS guidelines. To make a gift of securities, you will work with your financial advisor or brokerage firm and provide the church’s brokerage or transfer information. The church can assist by supplying the necessary details and confirming receipt of the gift.
Wills & Trusts (Bequests)
INCLUDE THE CHURCH OR SCHOOL IN YOUR WILL OR TRUST
Including the church or school in your Will or Trust allows you to make a lasting gift that reflects your faith and values. A bequest can be a specific dollar amount, a percentage of your estate, or a particular asset. You retain full use and control of your assets during your lifetime, and the gift is carried out according to your wishes after your passing. A bequest may also provide estate tax benefits, depending on your situation. To make a gift through a Will or Trust, consult with your attorney or estate planning advisor and include the church or ministry by its legal name. The parish can provide assistance with proper wording and organizational information if needed.
Life Insurance Policy
THERE ARE SEVERAL WAYS TO MAKE A CHARITABLE GIFT THROUGH LIFE INSURANCE
The most common ways to give through a life insurance policy: 1. Name the Church as a beneficiary of an existing policy (for all or a portion of the death benefit). 2. Transfer ownership of an existing policy to the Church, making the Church both owner and beneficiary. 3. Purchase a new policy specifically to benefit the Church. Each option offers different levels of flexibility and potential tax benefits so consult your financial advisor or insurance agent, attorney or tax professional. These advisors can help ensure the gift aligns with personal, family, and estate-planning goals. Contact the church before completing paperwork to confirm the church can accept life insurance gifts and to discuss any details of the gift. You will likely need to obtain the Church’s legal name and tax identification number. Work with your insurance provider to complete the necessary forms: •Beneficiary designation form (if naming the Church as beneficiary) •Ownership transfer form (if gifting an existing policy) •New policy application (if purchasing a policy for the Church) The church can assist in reviewing documentation if desired. Address Premium Payments If the Church owns the policy and you continue paying premiums, those payments are generally treated as charitable contributions.
Corporate Philanthropy Programs
MATCHING GIFTS, PAYROLL DEDUCTION, CORPORATE GRANTS, VOLUNTEER GRANTS, AND IN-KIND DONATIONS
Employees and businesses can boost donations to nonprofits (like the cluster parishes) while often securing tax benefits. These efforts often align with corporate social responsibility (CSR) goals, fostering community impact and employee engagement. Common Methods for Giving •Matching Gift Programs: Companies match donations made by employees to eligible nonprofits, effectively doubling the contribution. •Payroll Deductions: A convenient way for employees to make regular, automatic donations directly from their paycheck. •Corporate Grants: Financial contributions directly from the company to nonprofits, often as part of broader CSR initiatives. •Employee Volunteer Grants: Companies provide monetary grants to organizations where their employees volunteer significant time. •In-Kind Donations: Companies donate products, services, or equipment instead of cash. Key Benefits •For Employees: Increased impact on chosen causes, often with ease of use through company portals. •For Employers: Improved public relations, increased employee engagement, and fulfillment of social responsibility goals. •For Nonprofits: Access to larger funding pools and new donor bases. Considerations Tax Implications: While donations can provide tax advantages for the company, regulations vary based on business structure (e.g., C-corp vs. other types). •Company Policy: Employees should review their company handbook for specific guidelines, deadlines, and eligible causes
Real Property
DONATING OWNERSHIP OR AN INTEREST IN YOUR REAL ESTATE
This type of giving can be especially meaningful for donors who hold appreciated property and want to support your church while also receiving financial and tax benefits. Giving through real property allows a donor to contribute assets such as a personal residence, vacation home, farmland, commercial property, or undeveloped land to a charitable organization. Instead of selling the property, the donor transfers it directly, which may help avoid capital gains taxes on appreciation while providing a charitable income tax deduction based on the property’s fair market value. There are several ways to give through real property. A donor may make an outright gift, transferring full ownership to the charity, which can then use or sell the property to support its mission. Another option is a retained life estate, in which the donor gives the property now but continues to live in or use it for life; the charity receives full ownership at the donor’s death. Donors may also give a partial interest, such as a fractional share over time, or contribute real property through a trust or other planned-giving arrangement. For donors, giving real property can transform an underused or highly appreciated asset into a lasting impact, while potentially reducing income taxes, capital gains taxes, and estate taxes. For charitable organizations, real property gifts can provide significant long-term support when accepted and managed thoughtfully. Speak to your attorney, financial advisor, and/or accountant to determine if this is right for you.
Personal Property
SUCH AS A CAR, BOAT, TRAILER, OR RECREATIONAL VEHICLE
Before making the gift, the donor should contact the parish office to confirm the church can accept the specific type of property. The church would need to consider whether it intends to use the item or sell it. Depending on what it is, there could be diocesan policies regarding non-cash gifts. If the gift is accepted by the church, determine the Method of Transfer. Most gifts of vehicles or boats are made as outright gifts, meaning ownership is transferred directly to the church. This typically involves signing over the title to the church, completing any required state transfer forms, delivering the gift or arranging for pickup. You must also address valuation and tax considerations •The church does not assign a value to donated property. •For tax purposes, donors are responsible for determining the value of the gift, which may require a qualified appraisal for higher-value items. •The donor should consult a tax advisor to understand potential charitable deduction rules and reporting requirements. Prior to the transfer, the donor should maintain insurance (if applicable) until ownership is fully transferred. Once the title is transferred, the church assumes responsibility. The parish or diocese will confirm when the transfer is complete.
"Those who trust in their riches will wither, but the righteous will flourish like green leaves" Proverbs 11:28
WAYS TO GIVE
In Person
Make a one time gift or set up a recurring gift through your bank by stopping by our office.
Checks can be made payable to St. Augustine's Church, St. Joseph's Church, or St. Joseph's School.
Planned Gifts
Consider how you can give of your assets, which could include your retirement plan, IRA, Stocks, Bonds or Mutual Fund Shares. These assets are often given directly to the parish from your financial institution. You can name St. Joseph, St. Augustine, St. Joseph's School or the Endowment in your will or estate.