METHODS OF GIVING
Selecting the best gift plan depends on your personal financial situation and goals. As tax laws are always changing and each individual’s situation is unique, you are encouraged to consult with financial advisors to determine which method of contributing is most beneficial to you.
Pledges
Pledges are commitments of payments to be made over time. We encourage you to consider a 10-20 percent down payment to begin your commitment. Payments on pledges are deductible for income tax purposes as provided by law. Pledges are obligations made in good faith, but are not legally binding.
Gifts of Cash
Gifts made by cash or check are the most common and will allow Our Lady of the Lake Parish to move forward more quickly with the construction project.
Non-Cash Gifts
Non-cash gifts are an additional or alternative way you can support our cause. You may, for example, wish to consider gifts “in kind” such as labor and materials; gifts of real estate or even personal property such as automobiles or vacation homes.
Gifts of Securities
Charitable gifts of stocks, bonds or mutual funds that have been held for at least one year and have appreciated offer special tax advantages. You will receive a tax deduction for the full market value of the gift, but you will not have to pay capital gains tax on the appreciated amount. If you sell depreciated stock and contribute the proceeds, you will receive both a tax deduction for the charitable gift and deduction for the capital loss.
Please contact your tax advisor for more information about these options.
Vehicle Donation
Do you have an old car, boat, RV, truck or even an airplane that you would like to donate to the campaign? Well, now you can! We have established a partnership with Charity Connection. They will take your vehicle and sell it. You get a tax deductible receipt for 100% of the value. The Building in Faith campaign will receive 60% of the value as a donation. Charity Connection does all the work and will even pick up your vehicle. Here's how it works:
- Call the Campaign office to let us know you have a vehicle to donate.
- Have your Vehicle Certificate of Title available.
- We will arrange for Charity Connection to pick up your vehicle, title and keys within 24 hours.
- They will sell you vehicle and provide you with a receipt acknowledging the maximum tax deduction allowed by law.
- They take care of all the DMV paperwork, vehicle mechanical inspection, safety inspection and transfer of ownership.
Call the office to get started: 503-636-7687
