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God’s abundant outpouring of generosity and blessings knows no season, but this time of year is historically the time in which most people give and receive. Many also begin income tax planning. Newman Connection wants to share some ideas on how to map out a plan for making an impact.
Give cash. To document a cash gift of any amount, you must have a receipt from us prior to filing your return that states the date of the gift, the amount, and whether you received any goods or services in exchange for your donation. Make certain you receive one. A cancelled check provides sufficient documentation only for gifts by check if they are less than $250.
Give stock or other property. If the property has depreciated in value, sell it and deduct the loss to the extent allowed by law. Then donate the cash received from its sale. That way you have another deduction. If it is worth more than what you originally paid for it, do not sell it. Donate the property to us—we’ll sell it and you will eliminate all the capital gains tax you would have paid had you sold it. Your gift will be deductible at its full fair market value on its date of delivery if you have held it for more than one year.
Sell an appreciated asset for less than its current value to us (a bargain sale gift). The difference between the fair market value of the property and what you receive in the sale is considered the gift—and the charitable deduction.
With a gift to a qualified charitable organization such as Newman Connection, you can receive the greatest tax advantages when donating this year. Contact Martin Alves at xxx-xxx-xxxx or malves@newmanconnection.org with any questions.
Charitable Lead Trust
Individuals with very large estates can use a charitable lead trust to benefit Newman Connection and pass principal to family members with little or no tax penalty. It works like this: You transfer assets to a trust that provides payments to Newman Connection for a term of years. Then the trust principal goes to your children, grandchildren, or others free of, or at greatly reduced, federal gift and estate tax. (Please note that a generation skipping tax [GST] is imposed on large transfers to grandchildren and others who are more than one generation younger than you.)
Welcome to your resource for charitable gift planning!
The catechetical education programs provided by Newman Connection that will help provide a vibrant future for the Catholic Church depend upon your generosity. We hope the information below allows you to share in our vision and help you dream a little, about our future and yours. There are many easy giving options from which you can choose and strategies that enhance your personal well being, as well as Newman Connection.
Time Is Running Out! Special IRA Opportunity Expires Dec. 31
If you are 70½ or older, the extended charitable IRA rollover legislation benefits you! While easy to accomplish, this tax-smart gift option enables you to jump-start your legacy and witness the benefits of your generosity to Newman Connection.
The Power of Just Your Words
Give your loved ones a priceless gift this holiday season and teach them about helping others. Starting a family tradition of giving during this holiday season will bring you closer together while reaching out to those who will be touched by the work of Newman Connection.
Our various giving societies recognize different levels of gifts to Neman Connection. The giving societies are named after Catholic Saints that have made a significant in the area of Catholic education and faith formation. The lives of these saints have inspired many to follow in their footsteps. The societies acknowledge donors who share in a spirit of loyalty and commitment to Newman Connection. These individuals lead the way in supporting Newman Connection by making significant gifts that strengthen our efforts and our ability to help young men and women be future leaders in our church and society.
Strong leadership and vision is vital to the continued excellence of any organization. Equally important is the financial leadership provided by members of the St. John Henry Newman Leadership Circle.
This society’s namesake is the philosopher, theologian, doctor of the Church (the Angelic Doctor), patron of Catholic universities, colleges, and schools. The gifts given by members of this society provide a significant impact on the lives of current Newman center students.
This society’s namesake is a Doctor of the Church, renowned preacher, prolific author, and specially devoted to the Christian and technical education of the children of the poorer classes. The members of the St. Francis de Sales Society provides a solid base of support for all of Newman Connections education programs.
This society’s namesake is an immensely popular during the Middle Ages, there were many chapels and churches devoted to her throughout Western Europe, and she was reported as one of the divine advisors to Saint Joan of Arc. Her reputation for learning and wisdom led to her patronage of libaries, librarians, teachers, archivists, and anyone associated with wisdom or teaching. Just as St. Catherine signified this spirit, gifts at this level affirm your confidence in the YouCat program.
This society’s namesake did an entire thesis on the history of the catechism. As you may know Cardinal Roberto Francesco Romolo Bellarmino was the king of the catechism. Gifts given at the Bellarmine Circle level are a wonderful tribute to his work and dedication with the catechism.
