Making a Gift
There are many ways of giving so that you are able to meet your needs and have an opportunity to support Sacred Heart-Griffin in a meaningful way. Selecting the best gift plan depends on one’s personal financial situation and goals. As tax laws are always changing and each individual’s situation is unique, donors are encouraged to consult with financial advisors to determine which method of contributing is most beneficial.
Pledges
Pledges are commitments of payments to be made over time. We are asking all of our supporters to make five-year pledges in support of our campaign for Sacred Heart-Griffin. Payments on pledges are deductible for income tax purposes as provided by the law. Pledges are obligations made in good faith, but are not legally binding. This commitment can be fulfilled through monthly, quarterly, semiannual or annual installments. We encourage all donors to consider a 10 percent initial payment to begin your commitment.
Gifts of Cash
Gifts of cash or check are the most common methods of giving and will allow Sacred Heart-Griffin to address its immediate needs.
Gifts of Stock
Gifts of appreciated stock, bonds or mutual funds that have been held for at least one year offer special tax advantages when used for a charitable gift. Many times a donor can received a tax deduction for the full market value of the gift while avoiding any capital gains tax on the appreciation. Likewise, gifts of depreciated stock can allow the donor a tax deduction equal to the face value of the stock as well as a deduction for the capital loss.
Matching Gifts
Many local companies offer a matching gift program for employees and retirees.
This allows donors to maximize their giving potential. For information and required forms, check with your company’s human resource department.
Sacred Heart-Griffin also gratefully accepts donations made through these additional giving forms:
- Gifts of Real Estate or Life Insurance
- Will or Revocable “Living” Trust or Charitable Remainder Trust
- Deferred or Planned Gifts
Planned Gifts
Planned gifts typically provide donors and beneficiaries with tax benefits including the reduction of capital gains tax, minimizing or eliminating gift and estate tax and producing tax efficient income streams. It’s also noteworthy to remember other tax breaks currently available such as:
- The Tax Act of 2010, signed into law by President Obama on December 17, 2010, provides significant federal estate tax and gift tax relief. For federal gift and estate tax purposes, there is an unlimited deduction for outright charitable gifts.
- Remember: The Tax Act of 2010 is set to expire on December 31, 2012.
- The IRA Charitable Rollover provision allows you to make a very generous contribution to Sacred Heart-Griffin from your IRA, with NO tax bill. To take advantage of this option you must be 70 years of age. You can give up to $100,000 with this provision.
Budgeting Your Gift Over a Five-Year Pledge Period
| Total Gift | Initial 10% Investment | Monthly | Quarterly | Semi-annual | Annual |
|---|---|---|---|---|---|
| $250,000 | $25,000 | $3,750 | $11,250 | $22,500 | $45,000 |
| $150,000 | $15,000 | $2,250 | $6,750 | $13,500 | $27,000 |
| $100,000 | $10,000 | $1,500 | $4,500 | $9,000 | $18,000 |
| $75,000 | $7,500 | $1,125 | $3,375 | $6,750 | $13,500 |
| $50,000 | $5,000 | $750 | $2,250 | $4,500 | $9,000 |
| $40,000 | $4,000 | $600 | $1,800 | $3,600 | $7,200 |
| $30,000 | $3,000 | $450 | $1,350 | $2,700 | $5,400 |
| $25,000 | $2,500 | $375 | $1,125 | $2,250 | $4,500 |
| $20,000 | $2,000 | $300 | $900 | $1,800 | $3,600 |
| $15,000 | $1,500 | $225 | $675 | $1,350 | $2,700 |
| $10,000 | $1,000 | $150 | $450 | $900 | $1,800 |
| $7,500 | $750 | $113 | $338 | $675 | $1,350 |
| $5,000 | $500 | $75 | $225 | $450 | $900 |
| $4,000 | $400 | $60 | $180 | $360 | $720 |
| $3,000 | $300 | $45 | $135 | $270 | $540 |
| $2,500 | $250 | $38 | $113 | $225 | $450 |
| $1,000 | $100 | $15 | $45 | $90 | $180 |
| * Numbers are rounded off. To help meet our immediate financial needs, we encourage donors to consider a ten percent initial investment on your pledge. |