Planned Giving
Is there a particular program
or activity at St. Anastasia that you would like to support but feel you just do not have the cash on hand to do so at this
time?
Perhaps you have an interest in one of our many religious education programs, or the Life Teen program. Perhaps you would like to help reduce our debt or have a paving brick engraved at
the entrance to the new Chapel. There are several ways that you can support these
efforts now and in the future that do not require cash on hand. Some of these
alternatives are:
If you are 70 ½ or older with an individual retirement
account (IRA), the Pension Protection Act of 2006 offers a new and simple, tax-friendly, option for charitable giving. You can make a tax-free gift to St. Anastasia
Parish using your IRA funds and be able to see the benefits of your generosity.
The gift will count toward your required minimum distribution (RMD); it is not included as income and cannot be listed
as a charitable deduction on your tax return. You may make a contribution from
your IRA provided:
- You are 70 ½ or older
- The gift is made during tax year 2007 (which ends December 31)
- The gift can be any amount up to $100,000.
- You transfer funds directly from your IRA or Rollover IRA account
- You transfer the gift directly to St. Anastasia.
At any age, a gift of stock (or shares in a mutual fund)
provides the opportunity for both a charitable income tax deduction and a capital gains tax savings. Given the ups and downs in the equities market, your portfolio may have both gains and losses within the
account. If you plan to make a gift of stock, it is generally best (tax wise)
to make that gift with appreciated assets. If a stocks price has declined or
has not changed much from the original basis, it may make more sense for you to sell the asset first and then donate the cash
proceeds. Remember, the IRS places limits on how much you can deduct in a given
year so consult your tax professional before proceeding.
You may own an insurance policy that you, or perhaps your parents, took out in your name years ago,
that has outlived its original purpose and is no longer needed for your family’s protection. You can donate no longer needed life insurance to support a
program of special interest to you at St. Anastasia, see the benefits of your generosity, and earn a valuable tax deduction. You can either make an outright gift of a paid-up policy (the Parish would receive
the policy’s cash value) or you can donate an existing policy and continue to pay the premiums. Should you stop paying the premiums; the Parish would receive the surrender value of the policy.
If you can not itemize deductions on your federal tax return, you may be able to benefit by bunching your charitable donations so that you can itemize every other year.
This way, you take the standard exemption one year and make two years’ worth of charitable deductions in the
alternate year.
These are a few of the ways that you can support the programs and activities that you have come to
love and depend on at St. Anastasia. If you are considering a gift, or perhaps
naming St. Anastasia in your will, Fr. JJ would be happy to discuss your plans with you.
You should also consult your tax professional or financial consultant before proceeding with a gift under the new law
or through one of the other options.
In closing, please remember the Catholic Service Appeal (CSA) currently underway. Any funds that
are raised over our goal will be returned to St. Anastasia.
St.
Anastasia Stewardship Committee
