In life, most people require some kind of assistance, whether it’s physical, financial or spiritual. And during life’s struggles, we are often reminded that more must be done to continue positive, humane acts of kindness, and to sustain programs for personal enrichment. We wish more funding were available for medical research, for domestic abuse shelters, or a treasured arts or music program.
As a result, many people want to make charitable gifts but need to do so in a way that helps meet their other personal, family, or financial needs. Planned gifts give you options for making your charitable gifts in ways that may allow you to:
Make a larger charitable gift than you thought possible
Increase your current income
Plan for the financial needs of a spouse or loved one
Provide inheritances for your heirs at a reduced tax cost
Reduce your income tax and/or avoid capital gains tax
Diversify your investment portfolio
Receive income from your personal residence or farm
Plan for the transfer of your business
Leave a charitable legacy for future generations
Powers Catholic needs financial assistance from people like you to continue their work. More than 80% of Americans contribute to nonprofit groups of their choice throughout their lifetimes. But, according to research, only around 8% of people chose to continue this support through a charitable bequest.
By making bequests and other "planned gifts," you can continue to help Powers Catholic make an important difference in your community. Can you think of a better way to thank Powers Catholic for the impact it had on your life than to make a contribution from your estate through a bequest?
Gifts large and small are important. Charitable giving is not only for the wealthy!
Benefits of Planned Gifts By making a planned gift, you can make a significant gift to Power Catholic High School to support Catholic education in Genesee County as well as meet the educational needs of our community — while gaining financial and tax benefits for you and your family!
There are several types of gifts that first pay income to you and your family and then help Powers. These also can enable you to dispose of illiquid assets in exchange for income and tax benefits. The lead trust is a gift arrangement that can help you transfer wealth to the next generation in a tax-efficient manner.
Giving Appreciated Securities is Now More Advantageous A gift to Powers of appreciated stock held for more than one year may provide you with significant benefits, including:
An income tax deduction for the fair market value of stock (top federal rate 39.6%)
The elimination of capital gains taxes due if the stock were sold instead (top federal rate 23.8%)
Increased Gift and Estate Tax Exemption The Federal gift and estate tax exemption has increased to $5.34 million (per individual) and $10.68 million (per married couple). In addition, each individual has a $5.34 million generation-skipping tax exemption.
Opportune Time to Establish a Lead Trust Current low interest rates create an ideal environment to establish a charitable lead trust for financial and estate planning.
