Ways to Give
 There
are many tax benefits to consider when making a charitable gift.
However the greatest gift in giving to the Sacred Heart Benedictine
Foundation is that you become a partner in the Sisters’ mission
of caring for God’s people. The Sisters in turn pray for you
daily, they honor your prayer requests, and they have a Mass offered
for you at least twice a month.
All gifts are tax deductible.
Cash gifts
Cash gifts are perhaps the easiest of all gifts. Any
amount is acceptable.
Memorial Gifts and Tribute Gifts
 The greatest gift a person can
give is one that offers meaning, hope, justice, courage, harmony
and charity to others in a troubled world. Your contribution in
memory of loved ones and friends enables the Benedictine Sisters
to continue to provide guidance, hope and inspiration through programs
and services for those who struggle with the complexities of modern
life.
Gifts of Appreciated Securities
Giving appreciated stocks or bonds
is a superb way to support our programs. With certain limitations,
you can deduct the full, fair market value of long-term appreciated
securities. Thus, you can give away capital gains and avoid the
tax.
Gifts of Appreciated Real Estate
Almost any type of real property:
a personal residence, a farm, a vacation home, a commercial building,
or an undeveloped parcel of land can constitute a gift. Gifts of
property can be given in a variety of ways. If the property is
long-term, you will generally avoid any tax on the capital gain,
reduce your taxable estate by the value of your gift, and receive
a current charitable contribution deduction for 100 percent of the
fair market value of the property. This is usually inside a charitable
remainder trust.
Gift of Residence or Farm/Ranch with Retained Right of Use
 Because
of special provisions in the law, you can give the Sacred Heart
Benedictine Foundation your personal residence or farm, yet continue
to live there for the rest of your life. You will receive an immediate
income tax deduction for the contribution. The property can be a
vacation or second home and you do not have to reside on the property.
This is usually inside a charitable remainder trust.
Gift of Depreciated Farm Machinery
With a gift of depreciated farm
machinery, farmers can avoid paying income tax on ordinary income
from the restored depreciation, and if the machinery has a remaining
cost basis, the donor can generally receive a charitable deduction
for that amount.
Gifts of Grain/Livestock
For a gift of grain and/or livestock, you
could make a significant investment in preserving the moral and
ethical values exemplified by the Benedictine Sisters and assist
in their work with the aged, sick, disabled and blind, and provide
an opportunity for a major memorial for a loved one or friend.
Planned Giving:
Wills/Bequests
 A gift through your estate can help you achieve your
financial goals and at the same time carry on your legacy well
into the future. The most common and frequently used is that of a
bequest in one’s
will. This can be for a percent of the estate or a set amount.
If the estate is a taxable estate, charitable gifts will reduce
the estate tax to be paid.
Life insurance policy
This is a great way to give a sizeable gift.
You can make the Foundation the full beneficiary, or a percent
could go to the Foundation and a percent to others of your choice.
Charitable Remainder Unitrust
and Charitable Gift Annuity
Two other very popular ways of giving in which the donor receives
a tax break and income for life are Charitable Remainder Unitrust
and Charitable Gift Annuity.
Both of these gifts:
 Supplement
or increase your retirement income
Receive income for life
Save taxes
Avoid a portion of taxes on capital gains
Credit proof (protect) your assets
Quality for a current charitable deduction on the remainder value
A Charitable Gift Annuity is a common method of providing fixed
payments with income tax saving for the rest of your life. At your
death the remainder is used by the charity for its charitable works.
A Charitable Remainder Unitrust is a separate trust arrangement
between you and a trustee. You are guaranteed a stated percentage
of the market value of the Unitrust assets revalued each year. At
your death the remainder of the trust is then used by the charity.
How do I make a planned gift?
There are many other trusts and legal
ways of giving too numerous to mention here such as wealth replacement
trusts, lead trusts, etc. If you are interested in exploring a
planned gift please contact the Foundation personnel who will walk
with you through the process. The Foundation is willing to work with
your attorney and accountant, or we will assist with the Foundation’s
attorney who has expertise in planned giving.
 Information on these pages is presented so that you know there are
many ways to gift and to help the Sisters carry on their mission.
Individual circumstances vary. You may be subject to lifetime gift
exclusions, alternative minimum tax, or other limitations which may
affect your individual tax consequence. Accordingly you should consult
with your accountant and attorney as there are many nuances to the
laws. Some laws also vary from state to state.
If you would like more information about our fundraising programs
and gift opportunities, please call the Foundation at (701) 974-2121
or email shbf@sacredheartmoastery.com.
|
