Cash is one of the easiest ways to make a charitable contribution. A cash contribution can be a check, money order or cashier’s check. You can either establish an endowment fund or give to an existing fund. All gifts should be made payable to the New York Catholic Foundation with the proper designation if intended for a specific program or entity.
Gifts of securities are accepted by the New York Catholic Foundation. The securities may be given so that the donor receives a tax deduction equal to the fair market value of the donated assets while avoiding capital gains tax on the donated assets. The New York Catholic Foundation will work with donors and their advisor to facilitate the donation of both marketable and closely held securities. Donors whose gifts are matched by a company will receive credit for the matching amount.
A donor can give a full or partial interest of a home and retain the right to enjoy the home for their lifetime. Gifting real estate may allow the donor to preserve their liquid assets while maximizing the charitable contribution. Donors are encouraged to discuss their gift of real property prior to gifting.
The New York Catholic Foundation can help donors plan for effective giving during their lifetime and for a charitable legacy for their family and Catholic community.
A planned gift can be a simple bequest in your will or a complex trust arrangement. Planned giving techniques can:
A bequest in your will is one of the simplest ways to make a charitable gift. Through a bequest, you can make a contribution to an existing fund or establish a named endowment fund. Either option ensures that your charitable wishes will be carried out in perpetuity.
This type of trust provides income to your charitable fund for a fixed number of years. At the end of the term, the remaining assets in the trust are returned to you or your heirs. This is a gift that works best for families with relatively large estate.
This type of trust gives you the opportunity to receive income for life from your gift, with the assurance that the trust will be used by the New York Catholic Foundation to fulfill your charitable intentions. The donor receives a charitable deduction in the year the trust is created. The amount of the deduction depends on the age of the income beneficiary or beneficiaries, the value of the property placed in the trust, and the size of the payout selected by the donor.
You may make a gift of your residence or vacation home to the New York Catholic Foundation and continue to live in the home for your lifetime. You'll be entitled to a charitable deduction in the year that the property is deeded and the property is removed from your estate for estate tax purposes. Upon your death, your property is sold by the beneficiary and the proceeds benefit the charitable purposes that you have chosen.
Life insurance is an easy way to make a significant contribution. You may give a policy that is no longer needed, take out a new policy or name a parish, school or the New York Catholic Foundation as a beneficiary of an existing policy.
The New York Catholic Foundation may be designated as the beneficiary under a donor's qualified retirement plan benefits, including IRAs, 401(k)s, and a Keogh (HR-10) plan. Retirement benefits may be the most tax-efficient way to make a gift to the Foundation.
Please contact us for more information.