Planned Giving

Selecting the best gift plan depends your personal financial situation and goals. Because tax laws are always changing and each family and individual situation is different, we encourage you to consult with your financial advisor to determine which method of contributing is most beneficial to you.

 		  

Outright Gifts
The simplest and most frequently used method of providing outright support is a cash gift. You may benefit from such gifts with a charitable deduction on your tax return. Please make checks payable to the Catholic Schools of Sioux City and send to PO Box 1439, Sioux City, IA 51102.

Gifts of Securities
Gifts of stocks, bonds, or mutual fund shares that have appreciated (increased in value) can have an immediate impact and also create an income tax deduction for you based on their current value. For shares you've held for over a year, because there is no capital gains tax when you make the gift, you save on taxes twice. In order to maintain the tax advantages it is critical to transfer the securities to us, (rather than the proceeds from the sale.)

Planned Gifts
Planned giving is the process of carefully selecting the best method and asset for making a charitable gift. Such a gift can enable you to take full advantage of the tax laws to accomplish your financial and charitable goals.

A bequest through a will is a popular and flexible method to make a future gift while retaining control of your property during your lifetime. Due to recent major changes in the estate tax laws this may be a good time to review your estate plans and consider a charitable gift in your will.

Life income gifts are an effective way to contribute assets while keeping an income for yourself or your family. Generally, to create a charitable remainder trust you place assets into an trust which pays you an income for life. When the last beneficiary dies the remaining principal goes to help our schools. A charitable gift annuity is a simple contract between you and the Catholic Schools Foundation. In exchange for your irrevocable gift the Foundation will pay you a fixed sum for life. These gift plans may provide income and estate tax advantages and they may allow you to increase your current income.

Other gift opportunities include gifts of retirement assets that can be a very tax-effective way to contribute to the mission of our schools, reducing estate taxes and potential income taxes to your heirs without any negative impact on your current assets. A gift of real estate may allow for an income tax deduction based on the fair market value of the property and avoidance of capital gains taxes. Another option is to make a transfer now but to continue to use the property for life. You may make a gift of life insurance by designating the Catholic Schools as the owner and beneficiary. You will be entitled to an immediate income tax deduction for the value of the policy or for continuing annual premiums.

For more information on planned giving contact the CSSC office at 712-252-1350