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Consider a year-end gift

Image: Hands holding out a heartThank you for considering a year-end gift to help Catholic Charities to care for the poor and vulnerable; to support our Catholic schools and their students, men preparing for the priesthood, or our parishes. The Catholic Foundation of West Michigan (CFWM) is happy to help you accomplish your charitable giving objectives and support the Catholic causes you care about most. 
 
There are a number of ways to make a charitable gift, each with its own advantages and features. We recommend that you consult with your advisors to determine which gift arrangement best suits your personal financial situation.  

Giving options include:

  • Gift of cash. Giving cash is easy and the most popular way to make a charitable gift. You may be entitled to a charitable income tax deduction for up to 60% of your adjusted gross income (AGI) in the year the gift was made, as long as your check is written and mailed by December 31, 2018 or your gift is received online by year-end.
  • Gift of long-term appreciated securities. Gifts of long-term appreciated securities (i.e., securities you have held for longer than one year) can help you bypass capital gains tax even if you are not able to itemize your charitable donations. Securities can be transferred directly to the Diocese of Grand Rapids or The Catholic Foundation of West Michigan. You may receive an immediate charitable income tax deduction of the full fair market value of your contribution for up to 30% of your adjusted gross income (AGI), and, importantly, eliminate any capital gains tax. Find The Foundation's stock transfer form hereIf you have questions about long-term appreciated securities, contact Kevin Simon in the diocesan finance office.
  • IRA Charitable Rollover. If you have attained age 70 ½ and you have an Individual Retirement Account (IRA), you may distribute up to $100,000 tax free from your IRA to a qualifying charity. This distribution satisfies your minimum required distribution and reduces your taxable income dollar for dollar. Gifts must be made directly from the IRA to the charity. 
    • Fast Facts about IRA Charitable Rollovers:
      • You must be 70 ½ and older
      • Transfers must be made directly from the IRA to a qualified charity
      • Your taxable income can be reduced by up to $100,000, the maximum allowable
      • Only traditional IRA accounts are eligible.  The IRA Charitable Rollover cannot be used with other retirement plans such as a 401(k), 403(b) or a SEP IRA
  • Learn more about gift planning through The Catholic Foundation of West Michigan.
  • Make a charitable gift to: Catholic Charities West Michigan | the Catholic Services Appeal | In support of diocesan seminariansCatholic schoolsParishes

Also read:

Questions?

Contact Mark Morrow, Executive Director of The Catholic Foundation of West Michigan at 616-475-1251 or mmorrow@catholicfoundationwm.org
 
Thank you for your generosity!