Planned Giving
Tue, 12/08/2009 - 2:19pm | 
s.cicciarelli@p...
Planned giving helps you make a larger gift than you may have thought possible — often with financial benefits for you.
When an individual chooses to make a donation, according to certain Federal tax laws and those from many states, it is possible to reduce or eliminate taxes. Since it is possible to subtract the amount donated on a federal income tax report, for example, you may be able to make a larger donation than you believed was possible. How much and when you choose to make a charitable donation is in your control, and it is your choice. Please keep this in mind, and we hope that you will remember Peoria Notre Dame High School when deciding between the many deserving charities for a donation. Examples of the different opportunities to make charitable gifts in ways that can help reduce your tax liability are presented below:
Gifts of Cash- Gifts of cash or check are the most popular way to give, through such gifts it is possible to eliminate or reduce income tax on up to one-half of your adjusted gross income.
Gifts of Assets- Gifts of stocks, bonds, mutual funds, and certain other assets that have increased in value, and you have owned them for longer than one year, you can generally give them and deduct their current value from taxable income. Congress has provided that in addition to regular tax savings, you do not have to pay capital gains tax. If you have an investment that has decreased in value, and you choose to donate all or a portion of the cash proceeds, you can claim it as a loss and a charitable deduction.
Give From Your IRA- If you are over the age of 70 ½, Congress has made it possible to make tax-free gifts directly from and individual Retirement Account (IRA) before the end of the year. Giving in this way assures that these funds will never be subject to income or estate tax. This may make it possible to give more at the same or lower cost than in the past. Check with your IRA administrator for details.
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Please use the contact information below if you are interested in making a planned gift to the school.
Primary Contact
Dennis McGann
Peoria Notre Dame High School
5105 N Sheridan Rd
Peoria, IL 61614
309-691-9531
