Gifts That Reduce Your Taxes
You can ensure the formation of great leaders within a Catholic setting continues at Benedictine. What’s more, you can also enjoy tax benefits from these gifts now, or you can establish a future gift that will pass tax benefits along to your loved ones.
Gift of Cash
A donation of cash is the quickest, easiest way to make an immediate impact for Benedictine College. If you want to further our work today and claim the entire amount of your gift as a charitable income tax deduction, consider a gift of cash. Make your gift online, via a check or money order, or with a wire transfer.
Stocks & Securities
When you give stock or securities (stock, bonds, mutual funds), you may be eligible for a double tax benefit: 1) You receive an income tax deduction for the full, present, fair market value of the assets and 2) You may completely avoid capital gains tax on the appreciation of the assets. This is one of the easiest gifts to give and one of the most useful in accomplishing your philanthropic goals.
Savings Bonds
When you redeem savings bonds, you will owe income tax on the appreciation. So will the person who inherits them. You can eliminate the income tax on bonds you plan to redeem by donating them to Benedictine College. Because Benedictine College is tax-exempt, 100 percent of your gift of savings bonds will go to supporting our shared mission to educate the next generation of great leaders.
Benefits:
- Reduce your income tax with a current gift of savings bonds.
- Reduce income tax and possibly estate taxes for your loved ones, while create your lasting legacy with Benedictine College, with a legacy gift of savings bonds.
Retirement Assets
A gift of your retirement assets, such as an employee retirement plan, IRA, or tax-sheltered annuity, is an excellent way to make a legacy gift. A gift of these assets can shield you or your heirs from taxes while funding Benedictine College.
Life Insurance
Transfer ownership now:
To make an impact on our mission today, irrevocably designate Benedictine College as owner and beneficiary of an existing life insurance policy. If your policy is paid up, you will receive an immediate income tax deduction based on the policy value.
If your policy is not yet paid up, you will make contributions of cash to Benedictine College to cover future premium payments. For any continuing premium payments you make, you will receive a charitable deduction in the year of the payment.
Name us as a beneficiary:
You can name Benedictine College as a beneficiary of all or a portion of your life insurance policy. With this gift arrangement, Benedictine College will receive the proceeds of your policy when you pass away. You can change your beneficiary at any time and may reduce your estate taxes.
This gift is easy to arrange — simply request a beneficiary designation form from your plan administrator.
Personal Property
A gift of artwork, coins, antiques, or other personal property can be an excellent way to support Benedictine College. The tax benefits of the gift depend on whether Benedictine College can use the property in a way that is related to its mission. Contact us to learn more about this type of gift — we would be happy to help you find the option that best fits your philanthropic goals.