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On People’s Minds

We seem to be answering the same question quite often recently, so thought it might be good to put it in print:

Q: Is the Catholic Foundation of Eastern Montana different than the Diocese?

A: Most definitely! The Foundation is a separately-incorporated nonprofit organization in Montana. Founded in 1999, the Foundation’s purpose is to strengthen the Roman Catholic Church in the Diocese of Great Falls-Billings. We do this by being a free and helpful resource for individual Catholics and Catholic families, helping them to make the planned or outright gifts that are the right fit for them. Those gifts build permanent endowments for the long-term (forever) good of their local parishes, schools, Catholic organizations, and diocesan ministries.

New Website Making a Splash!

“Oh, you didn’t need to call me back – that new website answered all my questions!”

That was a GREAT comment heard from a parishioner at Sacred Heart Church in Cascade. She was referring to the Catholic Foundation of Eastern Montana’s new website Have you checked it out yet?

The planned giving pages will be coming soon – perhaps by the time you are reading this! The Foundation’s new website is designed to be useful and inspirational – and to encourage your trust in this organization which is here to serve you.

Make Hay While the Sun Shines!

We have less than eighteen guaranteed months to make use of the Montana Endowment Tax Credit, both for our own personal advantage but better yet, to build strong endowments that will carry our local Catholic parishes, schools, organizations and diocesan ministries into a beautiful future!

The Endowment Tax Credit sunsets at the end of next year, and unless the 2019 Montana Legislature extends it, this incentive that allows Catholics to leverage their giving to build the Church will be in our rear-view mirror. Now is the best time to make a gift to your favorite endowment (or a few of them) that will garner you this 40% incentive!
New Tax Law Creates Opportunities

As we all know by now, the new tax law brought quite a few changes this year, including doubling of the standard deduction. Here are a couple of things (among many) that were NOT affected, which means they will make great opportunities for smart giving in 2018:

Appreciated Stock. It’s been a nice run lately for the market. Capital gains tax rates were left untouched by the new tax law, which means you can take full advantage of avoiding capital gains taxes by making gifts of appreciated assets this year.

IRA Rollover gifts. A great way to direct a gift of any amount (up to $100,000) to the Church (if you are at least age 70 1/2 and have an IRA, of course). Gifts can count toward your RMD – required minimum distribution. The net effect of a gift to the Catholic Foundation of Eastern Montana through an IRA rollover is the same as taking a full deduction for a charitable gift. But you don’t have to itemize to get this benefit! You can take the standard deduction AND benefit from this opportunity.

Gift Annuity Rates Increased July 1, 2018!

Good news! The American Council on Gift Annuities (ACGA) raised its suggested one-life and two-life Charitable Gift Annuity rates, effective July 1st. The Catholic Foundation of Eastern Montana follows the ACGA rates.

That means that now is one of the best times ever to make a gift to benefit the Catholic Church — while also creating a lifelong income stream for yourself and one other person, if you choose. The rates are based on your age when you make your gift to the Foundation. For example, a 65-year old will lock in a 5.2% lifetime rate, while an 80-year old will lock in a lifetime rate of 7.3%. The rates top out at 9.5% for our most mature donors.
So here are the benefits of a Charitable Gift Annuity:

  • Making a wonderful gift for your church
  • Locking in a lifetime stream of income at a rate that won’t increase or decrease
  • Tax benefits – deduction/credit – in year of the gift
  • Tax-free income
  • Avoidance of capital gains tax for appreciated assets
  • Gift annuities are truly impressive ways to make a gift to help the Catholic Church.