Making charitable gifts is an important part of the Catholic faith. Giving allows for us to demonstrate our love of Christ to each other. The best part is you don’t have to be wealthy to make a difference. In this blog, we are going to cover five ways to make a charitable gift that is meaningful to you and your family.
1. Make a gift to an established fund benefitting a cause that is meaningful to you.
Endowment funds are a great way to provide an ongoing legacy for an organization of your choice. Although, you may not have the ability to start an endowment fund with the minimum balance requirement of $10,000, there are many endowment funds already established through The Catholic Foundation supporting various charities, schools, and parishes. Check out funds managed by The Catholic Foundation.
2. Make a gift from your IRA
Did you know you can make a gift from your traditional IRA? If you are over the age of 70 ½, you are eligible to donate money directly from your IRA to a qualified charitable organization. This is called a Qualified Charitable Distribution (QCD), and it allows you to fulfill your required minimum distribution (RMD) while avoiding paying taxes. You can make a simple and easy gift to your parish, school, or organization by choosing to donate your RMD.
3. Make a gift in memory or honor of someone
Memorial and honorary gifts are a special way to acknowledge someone in your life who is celebrating a special milestone or who has passed away. If you have a loved one who is celebrating a birthday, wedding, or Sacrament of Initiation, making a charitable donation in their name is a great way to celebrate. A memorial gift in memory of a deceased loved one is a great way to celebrate their life in a meaningful way. These types of gifts can be done in various ways through The Catholic Foundation. You can learn more about our ways to give here.
4. Make a charity the beneficiary of your will or life insurance policy
A gift of your life insurance policy is a great way to make a gift to charity. If your life insurance policy has outlasted the original purpose it was purchased for, consider making your favorite charity the beneficiary. You can do this using a Change of Beneficiary form. You can also make a charitable gift by donating assets through a bequest in your will or trust. These are two simple ways to ensure a meaningful charitable gift at the end of your life which will have an impact for years to come.
5. Make giving a family event
One of the best ways to make a meaningful charitable gift is to involve your family. Donate one-time, monthly, quarterly, or yearly to your family’s favorite charity. Involve your family members by making giving an event such as picking a charity at Christmas, choose a day of the week to donate your coffee money, establish giving habits in children by having them give a portion of an allowance to an organization your family supports.
Here at The Catholic Foundation of Southern Nebraska, we want to help you give charitably, in a way that is meaningful to you. We work with individuals, couples, and families who want to personally make a difference in the lives of others.
If you are interested in learning more about making meaningful gifts contact The Catholic Foundation of Southern Nebraska at 402-488-2142 to learn more.