Additional Giving Options
ADDITIONAL GIVING OPTIONS
There are many other ways of giving to accommodate your current circumstances while making a significant contribution to support our campaign. Please discuss with your family and financial advisor which plan is best for you. Some examples include:
Naming St. Nicholas Ukrainian Catholic Eparchy and the Building Our Faith Together, in Unity and with Gratitude Capital Campaign as a primary or contingent beneficiary of a retirement plan, such as an IRA or 401(k), allows the Eparchy to carry out its mission and offers tax benefits to a donor’s estate. Your plan administrator can help you.
If you no longer need your policy for your estate or family’s protection, you can make a gift now by assigning your policy to St. Nicholas Ukrainian Catholic Eparchy and the Building Our Faith Together, in Unity and with Gratitude campaign. Donors are entitled to an income tax deduction for the replacement value of the policy, or the net amount of premiums you have paid, whichever is less. You are also entitled to an income tax deduction for any premiums you pay on the policy after you assign it to the Church. Moreover, you will have removed the death benefit proceeds from your estate that may otherwise be subject to estate tax.
Stocks, Bonds or Mutual Funds
Charitable gifts of appreciated stocks, bonds or mutual funds held for at least one year offer special tax advantages. Donors can receive a tax deduction for the full market value of the gift while avoiding capital gains tax on the appreciation. If a donor sells stock which has depreciated in value and gifts the proceeds to the campaign, he or she can receive a tax deduction for the charitable gift and a deduction for the capital loss.
Donations of appreciated land or homes qualify for an income tax deduction equal to the full value of the property, and the donor avoids being taxed on the capital gains. If debt-free property is donated, the gift is deductible at the property’s appraised value. It may even be possible for a donor to gift property now, but still maintain the right to use the property. The benefit to making a donation now, rather than later in your will, is you can realize an immediate income tax deduction for the gift.
Leave a Gift in Your Will
The most meaningful way to make a lasting impact is to leave a gift to St. Nicholas Ukrainian Catholic Eparchy and the Building Our Faith Together, in Unity and with Gratitude campaign in your will. One popular method of planned giving is to think of your Church as an additional heir. For example, if a donor has four children, they would divide their estate in five parts, one each for the children and the Church.