Tax Advantages of Thoughtful Giving

Federal and state laws on income and inheritance taxes encourage charitable giving. All contributions to our campaign are tax deductible for those who itemize their deductions. It is particularly advantageous for some people to contribute appreciated securities, stocks, real property, or other valuables. Because each person’s financial situation may yield different benefits through different methods of making a gift, we recommend that you discuss your gift with your financial advisor.

Pledges Via Cash or Checks: Simply complete your pledge card by selecting the amount of your pledge and down payment. Make sure to select your method of payment and when you would like to begin redeeming the pledge. Please make checks payable to Parkersburg Catholic Schools Foundation. You will be sent payment reminders and a special payment envelope in accordance with the payment plan you choose. You may return the pledge card by bringing it to the campaign office or dropping it in the mail.

Credit Card and Direct Debit: To make your gift via credit card, simply complete your pledge card by selecting the amount of your pledge and your down payment. Make sure to select your method of payment (monthly, quarterly, semi-annual or annual payments). On the back of the pledge card, you will be asked to supply your credit card information. We currently accept all major credit cards. For choosing the automatic payment option via EFT (direct debit), you will be asked to provide a voided check. You will not receive reminder statements from PCS, unless requested.

Gift of Stock or Property: The current fair market value of securities or property is deductible. By transferring these assets to the PCS Foundation and allowing the Foundation to cash out the item, the donor pays no capital gains tax. In these cases, THE ITEM MUST BE TRANSFERRED TO THE FOUNDATION BEFORE BEING SOLD IN ORDER FOR THE DONOR TO RECEIVE THE FULL TAX DEDUCTION. In many cases, the tax savings are more than your investment in the gift.

Gift of Life Insurance, Annuities, Wills or Bequest: There are different ways to support PCS both now and in the years to come via Planned Giving. Families or individuals can make a gift of life insurance, estate bequests, annuities or charitable remainder trust. Dependent on your age, a Planned Gift may also be able to provide you with significant income today in exchange for your future gift to the schools. Please contact the Campaign Office for more information.

By |2017-02-23T15:30:05+00:00July 19th, 2016|Capital Campaign|Comments Off on Tax Advantages of Thoughtful Giving