Why consider a planned gift to Catholic Charities of the Finger Lakes?
Planned giving is a decision by an individual to designate money or property as a donation to a qualified not-for-profit organization, and to receive the numerous tax benefits that derive from that generosity.
Why planned giving? Why now?
Consider:
| Bequest in a Will | Possible estate-tax deduction, perpetual-gift opportunity |
| Charitable Gift Annuity | Guaranteed fixed income for life, portion of income is tax free, deferred tax deductions |
| Insurance Policy | Income-tax deduction for value for the policy when transferred, premium payments may be deducted as gifts |
| Charitable Remainder Trust | Variable or fixed income, deferred income if desired, possible income-tax and estate-tax deduction |
| Charitable Lead Trust | At end of trust period principal returns to donor or other beneficiaries,Principal can pass to others with little or no shrinkage, possible income-tax and estate-tax deductions |
| Retirement/IRA | Estate-tax and income-tax savings for substantial portion of gift |
| Appreciated Stock | Avoidance of capital-gain tax, income-tax deduction for full market value on date of gift |
The need for charitable giving has never been clearer and the tax benefits of doing so have rarely been more generous.
In the past few years, government has dramatically reduced its direct support of Catholic Charities and other not-for-profit organizations. However, government policies continue to allow significant tax benefits that make it financially appealing for donors to help support these same, worthy organizations in the form of charitable gifts, both in their lifetimes and as part of their legacies.
Charitable giving provides:
- a charitable income-tax deduction in the year the gift is made
- freedom from gift tax because no taxes are levied on charitable gifts
- possible reduction or removal of estate-tax liability
- a way to produce an income stream during life and a legacy to our community after death
Planned giving has also never been easier. Donations can be made in cash, IRA or retirement funds, stocks, bonds, real estate and other property, or you can elect to start a charitable trust.
Why Catholic Charities of the Finger Lakes?
Gifts to agencies like Catholic Charities of the Finger Lakes provide social benefits to the Finger Lakes area. Each year, the work of CCFL touches the lives of over 20,000 neighbors in need. We provide Emergency Assistance, the Geneva Community Lunch Program and a wide range of additional life-enhancing services to people of all faiths whose lives have been interrupted by poverty or illness.
Your gift can directly support a specific interest or provide broad support for our programs and services.
As an approved charity under IRS section 501(c)(3), Catholic Charities of the Finger Lakes is an eligible recipient of charitable gifts and trusts.
A planned gift to any of these will go a long way toward helping individuals and families in need, and, in turn, will help strengthen our communities.