A Life Income Gift
Charitable Gift Annuity (CGA) - A gift annuity is an agreement between an individual and a qualified charitable organization or institution. The donor transfers assets to the organization and receives fixed payments for the rest of his or her lifetime and/or the lifetime of another person, if desired. At the end of your lifetime, the remainder of the annuity will pass to the charitable organization. Since a portion of your gift will be used for charitable purposes, you are entitled to a federal income tax deduction in the year you make your gift. Part of each payment is tax free for a period of years as well.
Charitable Remainder Trusts - This gift can be designated to benefit any particular Archdiocesan program or donor's parish. It provides fluctuating or fixed annual income for one or more selected beneficiaries. The donor also receives personal and tax benefits.
Charitable Lead Trusts - The trust provides annual income to the Archdiocese toward the program of your choice. At maturity, the trust's principal returns to you.
A Charitable Bequest
With charitable bequest, that is, including your parish or the Archdiocese of Newark in your will, you can ensure that your legacy of stewardship will live on. In addition, a bequest may provide certain tax advantages to your estate. A donor may leave cash, securities, real estate, or other assets by will. The gift may be designated as a specific amount or as a percentage of the estate to benefit a particular work of the Church which is of most concern to you. For more information and the best advice for your personal situation, please consult your tax professional or attorney.
Additional Ways to Give
Consider these ways to make a charitable planned gift:
- Donate through an IRA Qualified Charitable Distribution (QCD)
- Donate real estate you no longer need or your home as a retained life estate
- Donate life insurance policy
- Donate appreciated securities and avoid paying capital gains tax on the transfer
Give to an Archdiocesan endowment fund to provide for perpetual care to these programs within the Archdiocese:
- Catholic Education endowment
- Seminary endowment
- Priests' care and retirement endowment
- Catholic Charities endowment
- CYO/Youth and Young Adult Ministries endowment
- Cathedral Basilica of the Sacred Heart endowment
Gifts of Stock
For information, click here.
End of Year Giving
For more information, click here.