The Sacred Heart Familly is sincerely grateful for the loyal support we receive for Catholic education in Boone County. There are many options available for individuals and businesses to make financial contributions to Sacred Heart School. We offer information on avenues of giving, but advise everyone to consult and verify tax implications with your attorney and/or financial advisors.
No matter the size, each gift makes a difference in the lives of the students. Each gift is acknowledged and the donors are kept in the prayers of our Sacred Heart families. The key is to focus on you, the donor's overall estat/financial picture and identify the appropriate avenue to ensure you achieve your goasl. Invest in the future of Sacred Heart School by calling for more information: Sacred Heart Development Office ~ 515-432-1971 or email Betty Ann Schmitz, Development Director |
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Avenues of Giving |
| Direct Gifts of Cash |
Bequests |
| A simple contribution of cash can be given to be used immediately. The donor can specify the intent of use, or it can be given for the greatest need of the church or school. |
You may designate a portion, or all of your estate in your will to Sacred Heart Church, Sacred Heart School, or Sacred Heart Endowment. (Click here for Sample Wording) |
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Gifts of Stock |
Trusts and Annuities |
| A gift of stock can be given with an income tax deducation and no capital gain consequence on the appreciated value. Contact your financial advisor to accomplish this transaction. |
Investing in a trust or annuity enables you to make substantial contributions while securing your own financial future. Tax consequences can be avoided while earning very favorable interest rates. |
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Insurance |
Gifts of Non-cash Property |
| An easy, almost painless way to remember Sacred Heart is through your life insurance policy. Take one policy and name Sacred Heart Church or Sacred Heart School as the beneficiary. |
Real estate, farms, cars, works of art, and jewelry may be donated to Sacred Heart. Please check with the Development Office on their policies of gift acceptance in these cases. |
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Matching Gifts |
| Many employers across the states have begun matching charitable gifts of their employees. You can double the impact of your gift by contacting your employer today to see if they participate in this incredible program. Often even retirees can participate! Gifts are accompanied with a gifting form that must be filed with the employer by the recipient organization, and must follow the guidelines of the company's program. |
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New Tax Break for IRA Owners |
An IRA owner, age 70 1/2 or over, can directly transfer tax-free, up to $100,000 per year to an eligible charitable organization. This option is available in the 2007 tax year. Eligible IRA owners can take advantage of this provision, regardless of whether they itemize their deductions. Distributions from employer-sponsored retirement plans, including SIMPLE IRAs and simplified employee pension (SEP) plans are not eligible.
To qualify, the funds must be contributed directly by the IRA trustee to the eligible charity. Amounts so transferred are not taxable and no deduction is available for the amount given to the charity.
Not all charities are eligible under this provision. For example, donor-advised funds and supporting organizations are not eligible recipients. Transferred amounts are counted indetermining whether the owner has met the IRA's required minimum distribution rules. Where individuals have made nondeductible contributions to their traditional IRAs, a special rule treats transferred amounts as coming first from taxable funds, instead of proportionately from taxable and nontaxable funds, as would be the case with regular distributions. For more information contact: |
Sacred Heart School Development Office
Betty Ann Schmitz, Development Director
915 12th St.
Boone, IA 50036
515-432-1971
email: shdev@mchsi.com
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