Planned and Memorial Giving
We all want to lead healthy and productive lives, be successful, and love and earn the respect of others. And at the end of our lives most of us want to feel that we have made a difference in the life of another, in the community in which we live and in the world that we have known. We want a part of us to live on . . . to be immortal.
A planned gift benefiting Catholic Charities, Diocese of Joliet, provides that opportunity. It offers you a chance to leave a legacy of hope and a gift that will forever perpetuate your compassion for those in need.
Tax Advantages of Planned Giving
Planned giving not only benefits the works and mission of Catholic Charities, it can result in substantial tax benefits for you.
Types of Planned Giving
- Giving a gift through your will (Bequests)
- Giving of Appreciated Securities (Stocks & Securities)
- Giving a gift that pays a steady income (Charitable Gift Annuities)
- Giving gifts that pay an income (Charitable Remainder Trusts)
- Giving a gift temporarily (Charitable Lead Trusts)
- Giving real property, but continuing to live there (Life Estate Arrangement)
- Giving a sizable gift at a small cost (Life Insurance Gifts)
PLANNED GIVING OPTIONS
A planned gift benefiting Catholic Charities of the Diocese of Joliet, Inc. (Catholic Charities) offers you an opportunity to provide meaningful support to your community through a wide range of programs and services.
Donors who elect to designate their gift to the greatest need allow Catholic Charities to accomplish the most by responding to urgent and changing needs. We believe that as conditions change over time, we will be best able to assess community priorities and respond appropriately.
Planned Giving not only benefits the work and mission of Catholic Charities it can result in substantial tax benefits for you.
Your options include:
- Bequests (giving a gift through your will) – One of the best-known and most frequent methods of making a gift to Catholic Charities is through your will. Your will, drafted properly and kept current, may be the most important legal document you ever possess. Through your will you make certain that relatives, friends, and favorite charities are remembered – exactly how you decide during your lifetime. Your bequest can be your final statement about what you believe to be important and worthwhile, such as the programs at Catholic Charities. Your attorney will need to know our legal name:
Catholic Charities of the Diocese of Joliet, Inc.
16555 Weber Rd.
Crest Hill, IL 60403
Our federal tax identification number is: 36-2170817
- Stocks and Securities – Making an outright gift of appreciated securities offers the simplicity and satisfaction of a gift of cash while providing additional tax benefits. For many donors, the transaction is often as simple as calling one’s broker and authorizing a transfer to Catholic Charities. Shares can be donated by issuing a new certificate to Catholic Charities or you can transfer them electronically to Catholic Charities account #32050744 at Stofan Agazzi & Co. DTC #141. Please contact the Development Director at 815.724.1102 and notify us of your intentions since electronic transfers are not executed with the donor’s name attached to the share description.
- Charitable Gift Annuities (CGA) – The Charitable Gift Annuity – often referred to as a “life income gift” – is a legal contract which guarantees you a specified annuity amount in return for an irrevocable gift of cash or securities. Upon the death of the donor, or that of the last surviving beneficiary, the remainder of the original gift passes to Catholic Charities for its charitable purposes. No more than two persons can be designated beneficiaries of the Charitable Gift Annuity.
- Charitable Remainder Trusts – This trust can be established with some of your assets. You receive a charitable tax deduction for the remainder value as determined by IRS regulations, while you and your designees receive an income for life. The remainder goes to Catholic Charities upon your death.
- Charitable Lead Trusts – This trust provides annual gift income to Catholic Charities for a specified number of years, after which the trust assets again become available to you, your family or others.
- Gift of Real Property – You may wish to gift property to Catholic Charities and wish to have the use of the property (such as a residence or farm) during your lifetime. You can transfer ownership to Catholic Charities during your lifetime and retain the use of the property. This type of gift plan is referred to as a gift with a retained life estate. Your gift to us must be an irrevocable remainder interest. In other words, after your life use and that of any designated survivor, Catholic Charities receives the property outright.
- Gift of Life Insurance – This is an easy and powerful way to make a substantial gift to Catholic Charities. If you own a life insurance policy that is no longer needed, consider it a perfect vehicle for a charitable gift! You can receive a charitable tax deduction by naming us as both the owner and beneficiary of the policy. If the policy has a cash value, you can take a charitable deduction approximately equal to the cash value at the time of the gift. (It’s easy to contribute a life insurance policy to us. Simply check with your life insurance agent for details and the proper forms to complete.)
The information provided illustrates some general concepts and ideas in estate planning. It is not intended to be all inclusive or used as legal advice. You should consult with competent tax and legal professionals as to the applicability of such items to your personal situation.
However, if you would like to speak with one of our trusted financial partners who work with Catholic Charities on Planned Giving matters, we will be happy to facilitate your connection with them, whenever you wish. You may also choose to make an investment in our Endowment Fund.
Memorial/In Honor Of Gifts
Memorial Gifts: A memorial gift is a loving way to remember a special person who has passed away while at the same time helping those in need. Thoughtful memorial gifts help Catholic Charities to continue funding important programs. After a memorial contribution is received, an acknowledgement letter will be sent to the person(s) you designate and a tax receipt will be sent to you. We do not specify the amount of the donation unless you request we do. May God bless you and all those you love during this difficult time.
A mention in the obituary notice…
“in lieu of flowers please send a donation in memory of _____________ (add loved one’s name”) to: Catholic Charities, Diocese of Joliet 16555 Weber Rd., Crest Hill, IL 60403.
…is greatly appreciated.
Gift of Honor: In honor of gifts are great ways to mark birthdays, anniversaries, holidays, retirement and many other celebratory occasions while still helping those in need. They make a perfect gift! Thoughtful in honor of gifts help Catholic Charities to continue funding important programs. After you have made your contribution an acknowledgement letter will be sent to the person(s) you designate and a tax receipt will be sent to you. We do not specify the amount of the donation unless you request we do, and you may customize your message to the recipient. Thank you for helping us serve many. May God bless you, always.
For more information on any of these options, please contact Kathleen Langdon, Director of Development and Communications.
Director of Development and Communications