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What assets can I use to make a gift to Roman Catholic Diocese of Albany?

Generally speaking, during your lifetime you can make an outright gift of cash, securities or other property (e.g., real estate, personal property). Through your will or with a distribution from a retirement plan or life insurance policy, your gift can be designated to Roman Catholic Diocese of Albany in accordance with your wishes.

By |2019-11-22T21:12:33+00:00November 22nd, 2019||0 Comments

What tax deduction will I receive for my gift?

Your tax benefits will depend on several factors: the type of gift, the time at which it is made, whether it is outright or deferred or has any income payments. In general, though, here are some guidelines: Outright gifts to the Diocese generate a full income-tax charitable deduction. Outright gifts of appreciated securities are deductible

By |2019-11-22T21:10:03+00:00November 22nd, 2019||0 Comments

I want to set up a life insurance policy, name Roman Catholic Diocese of Albany as beneficiary, but retain ownership of the policy. Can I deduct the premium payments I make?

No. The IRS would not consider that a "completed gift" – they'd say that, as the owner of the policy, you could change the beneficiary designation to a friend or family member. We must be made the irrevocable owner of the policy for gifts offsetting premium payments to be deductible.

By |2019-11-22T21:08:31+00:00November 22nd, 2019||0 Comments

I’ve heard that transferring gifts of retirement-plan assets to charity is advantageous. Why?

Qualified retirement plans such as IRAs, 401(k), 403(b), and Keoghs allow individuals to defer paying taxes on a portion of their income until the assets are withdrawn during retirement years. However, after a person's death, these accounts are often exposed to income and estate taxes, at a combined rate that could rise to 75% or

By |2019-11-22T21:07:18+00:00November 22nd, 2019||0 Comments

I’m interested in establishing a charitable gift annuity. What financial provisions will you make for the income payments to me and my spouse?

Your charitable gift annuity will be treated as a general obligation of Roman Catholic Diocese of Albany, backed by all of our assets. We have an unbroken record in making timely payments to our annuitants, and that ongoing responsibility is a key element in our financial policies.

By |2019-11-22T20:43:16+00:00November 22nd, 2019||0 Comments