Best Charitable Gifts to Make in 2018

CREATIVE WAYS TO HELP THE BENEDICTINE MONKS

With the passage of the “Tax Cuts and Jobs Act,” we have found that many are confused as to how the Act might affect the benefits of making gifts to support the Benedictine monks.

While it is true that fewer people will be able to take advantage of itemizing charitable gifts on their tax return, there are still many advantages to making gifts.  It should be noted that for those who continue to itemize, cash gifts are now deductible up to 60% of their adjusted gross income.

Beyond gifts of cash, there are many other ways to make a gift to benefit the monks and those they serve, ways that might help you beyond the charitable deduction.

GIFTS OF SECURITIES

When making an outright gift of stock or a mutual fund to the Benedictine monks, all taxpayers get the benefit of completely avoiding the tax on the capital gain. Just be sure you have owned the security for longer than a year and it is transferred directly to us. Itemizers still get the benefit of claiming the full fair market value of the stock as a gift, rather than just what they paid for it.

CHARITABLE GIFT ANNUITIES

Creating a charitable gift annuity is an excellent way to provide not only for the future of the monks but also for you and your own future. A gift annuity pays you income for life at a very attractive rate that will never change. A portion of your payments is even tax-free. What remains in the contract will support our seminarians, our aging monks and the many ministries in which we serve.

GIFTS FROM RETIREMENT ACCOUNTS

Making a gift from your IRA is a tax-wise way to support the Benedictine monks. Certain restrictions apply: you must be at least 70 ½ years of age and the gift must come directly to us from the IRA custodian. Although no tax deduction is allowed, your distribution does not count as taxable income (a potential benefit to all taxpayers, whether or not they itemize). A gift from your IRA is limited to $100,000 and cannot be used to fund a gift annuity or charitable trust.

GIFTS FROM DONOR ADVISED FUNDS

Donor-advised funds are becoming increasingly popular. You can create such a fund now — with potential tax advantages — and in future years direct a portion of that fund to support your favorite charities. If you have a donor-advised fund, we invite you to consider a gift to support the Benedictine monks from that fund.

For further information on any of these giving ideas, please contact Fr. Macario Martinez in our Development Office at (660) 944-2825.

Contact Us

Phone: (660) 944-2825
Fax: (660) 944-2811
plannedgiving@conception.edu

Location

37174 State Highway VV
Conception, MO 64433
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