Simplify Your Weekly or Monthly Giving
EFT: Electronic Funds Transfer
Save paper, save time, save effort. When you set up your weekly, bi-weekly, or monthly donation as an automatic transfer, your gift will be transferred conveniently and securely from your bank account directly to your parish. Forms for each parish can be found below or at the back of your church.
Online Checks (i.e. Billpay)
Another automatic options is to set up your parish as a payee for weekly or monthly contributions through your bank. These can also be done for occasions such as Christmas and Easter. You control changes to the frequency and amount. Contact your bank to see it offers this service.
Other Ways to Give
Giving stock or securities can greatly benefit both you and your parish. If the stock has increased in value from the time of purchase, you can avoid paying the capital gains tax by donating it to your parish. When the stock is donated to a charitable organization, the total amount will still be eligible for a tax deduction.
Donations of Grain
Turn bushels of corn or soybeans into a charitable contribution to your parish! Depending on your circumstances, farmers who make a gift of grain can save on taxes and still deduct the cost of production. Gifts of grain can be donated from the current or previous year’s harvests. The gift should be from unsold crop inventory with no prior sale commitment. A farmer should gift their grain directly to the parish.
Required Minimum Distributions
A Tax Wise Giving Opportunity
If you are 70 ½ or older and have an IRA, you are likely familiar with the IRA Required Minimum Distribution (RMD) you have to take in 2018. The RMD means the IRS requires you to take a certain amount from your IRA every year and pay income tax on that withdrawal. But did you know that you that you can roll that RMD directly to your parish and pay no taxes on the transfer, and your gift from the RMD comes directly your parish to support its spiritual mission? To benefit this year, your IRA rollover gift needs to be made before December 31. It is important to first of all contact your IRA administrator or Mary Quinlin at (641) 648-9547, for more information on how to make the IRA rollover work for you. There is a specific process and forms that need to be used, and they can help you through those simple steps. Click here for more information from the Archdiocese of Dubuque, but plan to roll over your contribution to the parish of your choice.
Where There’s a Will, There’s a Way
Giving a gift to the church through your will is not just for the wealthy! There are three simple ways to include the church in a bequest through your will or trust: giving a specific amount, giving a percentage of your estate, or giving all or part of the remaining residue in your estate. These can be changed at any time. A bequest in your will that includes the church is one of the most popular ways to make a gift through your estate. You specify your priorities that take care of your family as well as contribute to the work of the church.
Contact Mary Quinlin at (641) 648-9547 or firstname.lastname@example.org for more information on stewardship options.
Always consult professional advisors. This is not intended to be legal or tax advice.