Ways to Give

Bequests Through Your Will

Make a bequest through the Foundation and help almost any Church ministry or other charitable organization. We’ll manage endowment funds that benefit one or more organizations or charitable purposes for the long-term and make sure that your gift is used the way you intended.

Donor Advised Funds

• A donor advised fund with the Catholic Foundation of Maine is one way to support the causes that matter to you most. Determining which charitable causes and charities the available distribution from your donor advised fund will benefit may involve your family, organization, committee, group or specialist.  Donor advised funds with the Catholic Foundation of Maine are governed by current State and Federal laws,  IRS regulations, and the Foundation itself.

Gifts of Retirement Assets

• Retirement plan assets may be particularly useful for charitable giving.
• Lifetime gifts that are withdrawn from a retirement plan may allow you to earn an income tax charitable deduction that could offset the income tax you would otherwise pay on the distribution.
• There are special tax advantages for charitable gifts of shares of employer stock distributed from a retirement plan.
• Heirs may prefer to receive other assets from your estate, because retirement plan assets are taxed.  The Foundation does not have to pay income taxes on your gift, which allows your money to go further.
• Distributions from a Roth IRA are generally not taxable, yet you may enjoy an income tax charitable deduction for the charitable gift.

Gifts of Life Insurance

• There are two ways to use life insurance to make a charitable gift:
  • Designate the Foundation to receive part of the death benefit on a “beneficiary designation form” obtained from your life insurance company
  • Transfer ownership of a life insurance policy to the Foundation.

 

Gifts That Provide Income

• These types of giving arrangements can make charitable giving easier:
• You can earn an attractive retirement income that gives you the income you need while allowing you to give away larger charitable gifts without giving up security.
• A “charitable gift annuity” can give you a guaranteed, fixed income on a regular basis for as long as you live.  The older you are, the larger the income payments.
• A “charitable remainder trust” can give you income payments that are based on investment performance, and therefore have a potential for increasing over time.

  
Small Business Interests or Closely Held Shares
A gift of closely-held stock is a great opportunity to generate charitable and tax benefits from one of your primary assets.  It often requires that the organization receiving the gift understand and cooperate with the donor to ensure the best outcome.

Gifts of Real Estate

• If you or your business have income-producing real estate that you wish to hold for long-term growth in value, you can place the real estate in a grantor charitable lead trust, have the income go to the Foundation for a period of years, earn a large income tax charitable deduction (but pay tax on income as it is received), and then receive the property back at the end of the chosen period.

Gifts That Reduce Gift Tax and Estate Tax 

• A charitable lead trust gives you an opportunity to reduce the gift- and estate-taxes that may be due for a transfer to one or more heirs.

IRA Required Minimum Distributions

• If you are over 70 1/2 years old, you can make a simple and easy gift to your parish, school, or other endowment by donating part of your IRA's Required Minimum Distribution.
• Rather than pay income tax on the money you’re required to withdraw from your traditional IRA, you can donate to an endowment at the Catholic Foundation of Maine or establish a new endowment directly from your IRA.  

(This section is under construction being updated.  For the most up to date information, please contact the Foundation).