Why consider a planned gift to Catholic Charities Tompkins / Tioga?
Planned giving is a decision by an individual to designate money or property as a donation to a qualified not-for-profit organization, and to receive the numerous tax benefits that derive from that generosity.
Why planned giving? Why now?
The need for charitable giving has never been clearer and the tax benefits of doing so have rarely been more generous.
In the past few years, government has dramatically reduced its direct support of Catholic Charities and other not-for-profit organizations. However, government policies continue to allow significant tax benefits that make it financially appealing for donors to help support these same, worthy organizations in the form of charitable gifts, both in their lifetimes and as part of their legacies.
Charitable giving provides:
· a charitable income-tax deduction in the year the gift is made
· freedom from gift tax because no taxes are levied on charitable gifts
· possible reduction or removal of estate-tax liability
· a way to produce an income stream during life and a legacy to our community after death
Planned giving has also never been easier. Donations can be made in cash, IRA or retirement funds, stocks, bonds, real estate and other property, or you can elect to start a charitable trust.
Why Catholic Charities?
Gifts to agencies of Catholic Charities Tompkins / Tioga provide social benefits to the Greater Ithaca and Tioga county areas. Each year, the work of CCTT touches the lives of over 4,000 neighbors in need. We provide food, clothing, shelter, and a wide range of additional life-enhancing services to people of all faiths whose lives have been interrupted by poverty or illness.
As an approved charity under IRS section 501(c)(3), Catholic Charities Tomkins / Tiogais an eligible recipient of charitable gifts and trusts.
A planned gift to any of these will go a long way toward helping individuals and families in need, and, in turn, will help strengthen our communities.