Ways to Give

Tax law requires individuals to take annual minimum distributions, AMD, from their IRAs at age 70½. The IRA charitable rollover law allows direct distributions to a charity to be included in the required minimum distribution amount without being taxed.

To take advantage of the IRA charitable rollover law, you must be 70½ or older. In addition, qualifying distributions to charity are limited to $100,000 a year, and only distributions from traditional or certain Roth IRAs are tax-free. You should consult with your IRA custodian about the procedures for making a direct gift to the Archdiocese under this provision.

You can generously support the ministries and mission of the Archdiocese, while receiving dependable income for life, with a charitable gift annuity.

A gift annuity agreement also provides a variety of tax benefits, including a federal income tax charitable deduction. The payments you receive will depend on the amount of your contribution and your age at the time of the donation.

You can fund your charitable gift annuity with cash, stock, personal property, appreciated security or real estate. Once started, gift annuities are irrevocable. However, you may establish additional annuities, choose an annuity with deferred payments or set up annuities for loved ones providing them with income through your gift to the Church.

Charitable Remainder Trusts give donors the opportunity to increase income and save on taxes while benefiting the Archdiocese of Chicago. Donors have the option to choose between the following:

• The annuity trust pays a fixed dollar amount throughout the donor’s lifetime. An annuity trust cannot accept additional funding contributions.
• The unitrust payment fluctuates based on the fair market value of the trust assets. For example, if the value of the trust increases, payments do as well, and vice versa. A unitrust accepts additional funding contributions.