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Planned Giving

6 Ways to Benefit from a Year-End Gift


The final months of the year are traditionally considered the season of giving. In addition to the gifts we give to the important people in our lives, this season of generosity also offers a prime opportunity to show support for the causes we love. When you support the Diocese of Baton Rouge, not only will others benefit, but so will you.

Read more . . .

And, for additional information concerning Diocese of Baton Rouge Planned Giving options, please visit the “Plan My Legacy” page through the Office of Stewardship website: http://officeofstewardship.planmylegacy.org

6 Ways to Benefit from a Year-End Gift

The final months of the year are traditionally considered the season of giving. In addition to the gifts we give to the important people in our lives, this season of generosity also offers a prime opportunity to show support for the causes we love. When you support the Diocese of Baton Rouge, not only will others benefit, but so will you.

 

Explore Your Options

Although there may still be time to make several different types of charitable gifts, based on your unique situation and tax considerations, some gift types may be more practical than others. The following set of options include several of the most popular:

 

1. Make an immediate impact.

Cash is an easy way to give each year. You can receive an income tax charitable deduction for the full value of the gift. If you write a check for less than $250, a copy of the check will suffice as a record of the gift. You should obtain a receipt for gifts of $250 or more.

 

2. Save taxes on appreciated stock.

When you donate stocks to the Diocese of Baton Rouge that are worth more than what you originally paid for them, you can claim deductions for their full fair market value and eliminate any tax on the appreciation.

 

3. Avoid the hassles and costs associated with selling real estate.

Like securities, if you try to sell appreciated property, you will be subject to capital gains tax on the appreciation. By donating the property to charity, you can enjoy tax savings and relieve yourself from the hassles of selling or maintaining it.

 

4. Actually earn income from your gift.

Gifts such as a charitable remainder trust or a charitable gift annuity provide you, or a beneficiary of your choice, with payments for life or for a period of years, and the Diocese with support thereafter.          

And, if you use appreciated securities to fund the gift, you will be entitled to an income tax deduction based, in part, on the charitable portion of the securities’ full value, in addition to eliminating up-front capital gains tax.

 

5. Put an insurance policy to good use.

An old policy you no longer need can make a big impact on our work. To qualify as a deductible gift, the Diocese of Baton Rouge simply becomes the policy owner. For most types of insurance policies, your tax deduction is usually the cost basis or the fair market value of the policy—whichever is less.

It is more common for policies to require premiums to be paid. When you donate these, the future premiums are tax-deductible as you pay them.

 

6. Repurpose special personal items.

Perhaps you have tangible items, such as artwork or other collectibles, that you would like to give to the Diocese to support our mission. Please contact us so that we can help you determine the charitable deductions for your personal property gift.

 

For additional information, please contact the Office of Stewardship, 225-242-0108, to learn more. Discover the many ways you and your gifts can provide healthy spiritual blessings to many.

Stewardship Today is a monthly devotional newsletter designed to assist Catholics everywhere in developing a greater understanding of the role of stewardship in everyday life.
All we are, and all we possess, are gifts from God for our use and for the blessing of others. Through wise stewardship, we invest our time, our talents and our treasures to the glory of God.

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