X
GO


 

Retirement Account Gifts

Make a difference today and save on taxes.

Qualified Charitable Distributions (QCDs)

•Who qualifies? Individuals 70½ or older

Annual limit: Up to $100,000 per person

  • •Tax benefits:
  • Not included in taxable income
  • Can help reduce AGI (useful for Medicare & Social Security taxation)

•How to give: Must be a direct transfer from IRA to charity

•Counts toward RMDs (if age 73+)

•New option: One-time $50,000 QCD to a CGA or CRT (counts toward annual QCD limit)

Required Minimum Distributions (RMDs)

Start age: 73 (for anyone turning 73 in 2025)

Deadline: First RMD due by April 1 of the year after turning 73

Applies to: Traditional IRAs, 401(k)s, 403(b)s, etc.

(Not Roth IRAs during owner's lifetime)

Must be taken annually—penalties apply if missed

WHY CONSIDER THIS GIFT?
  1. Your gift will be put to use today, allowing you to see the impact now.

  2. Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD).

  3. You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.

  4. Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
RETIREMENT BENEFICIARY FORMS

Retirement accounts are a good asset to leave to charity. Retirement accounts can pass between spouses without a problem but when you leave the funds to another heir, they could have up to a 50% tax or higher – cutting what you though your gift would be in half.  It’s called Income in Respect of Decedent (IRD).

When you name a charity such as the Diocese or your parish as a beneficiary on your retirement account, it is gifted tax free. And it doesn’t require a lawyer, all that is needed is to fill out your beneficiary form with your provider.


 

Real Estate

Want to make a big gift to the Diocese of Colorado Springs without touching your bank account? Consider giving us real estate. Such a generous gift helps us continue our work for years to come. And a gift of real estate also helps you. When you give us appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction. This eliminates capital gains tax. And you no longer have to deal with that property's maintenance costs, property taxes or insurance.

Another benefit: You don't have to hassle with selling the real estate. You can deed the property directly to the Diocese of Colorado Springs or ask your attorney to add a few sentences in your will or trust agreement.

WAYS TO GIVE REAL ESTATE

You can give real estate to the Diocese of Colorado Springs in the following ways:

  • An outright gift

  • A gift in your will or living trust

  • A retained life estate

  • A deferred charitable gift annuity

  • A bargain sale

  • A charitable remainder unitrust

  • A charitable lead trust

  • A memorial or endowed gift

 

Endowments - A Gift That Lasts Forever

Throughout our lifetime, most of us strive to make a difference in the lives of others, providing gifts to the people and causes we value. Wouldn't it be nice to know that you could continue to make a difference for your parish, a Catholic school, the Diocese of Colorado Springs or another organization even after you are gone—creating a legacy of support for the causes most important to you? By creating an endowment with the Catholic Foundation  —or adding to our existing endowment—you can give a gift that lasts forever.

The Foundation is well equipped to accept gifts in any form, including cash, stock, real estate and personal property.

An Endowment Fund provides a source of annual income to a Catholic mission or organization in Central Colorado of your choice. This fund is designed to function in perpetuity, making it possible for you to ensure long-term financial support to your chosen cause. Once established, anyone can make additional contributions to the fund in any dollar amount.

Contact the Catholic Foundation

The Catholic Foundation would love to work with you to help you create a lasting legacy that honors your Catholic values for many years to come. Please visit catholicfoundationdcs.org today.


 

Common Trusts

Trusts are great estate planning tools that can help bypass probate and flow to your heirs and charitable originations as you've outlined in the trust documents. Trusts can become rather comprehensive and do require the help of a professional estate planner to complete.

If you are in need of a reference for an estate planner, our office can provide you will a vetted list of professionals you can choose from, just let us know.

COMMON TRUSTS TO LOOK INTO
  • Living Trust

  • Revocable Trust

  • Irrevocable Trust

  • Charitable Remainder Trust or Unitrust

  • Charitable Lead Trust