Ways to Give
If you want an easy and convenient way to make your stewardship offering, we offer electronic transfer of funds from your bank. Funds can be transferred on the 1st of the month, the 15th of the month, weekly, bi-weekly, or monthly, whatever works for you. Click here for a downloadable form that can be mailed to the parish office or dropped in the weekend collection basket.
Please be sure to include a cancelled check with your form. If you have questions, please call the parish office at 777-8116.
Cash, usually in the form of a check, is the most common type of charitable gift. Tax benefits are available if you itemize your deductions. The State of Minnesota allows non-itemizers a tax deduction of 50 percent for charitable gifts over $500. Printable online giving form can be found at end of document.
Tax advantages are available for donors making outright gifts of stock or appreciated securities. Capital gains taxes are eliminated and a deduction equal to the fair market value of the securities is realized. It is usually more beneficial to contribute the appreciated securities directly to the Church of the Presentation of the Blessed Virgin Mary.
Bequests Through Your Will
A provision in your will for the Church of the Presentation of the Blessed Virgin Mary ensures the future of our parish. You can leave a legacy beyond your lifetime. Bequests can be in the form of dollar amounts or for portions of an estate after payment to other beneficiaries.
Charitable Gift Annuities
A gift annuity to the Church of the Presentation of the Blessed Virgin Mary is established when you transfer cash or securities to us and request that the annuity make payments to you during the remainder of your lifetime. The gift annuity provides a fixed income stream for you for life, part of which is tax free.
Life insurance is an economical vehicle for giving a gift. It can be given through the irrevocable gifting of a new insurance policy where you designate the Church of the Presentation of the Blessed Virgin Mary as the owner and beneficiary or through an existing policy you already have.
Charitable Remainder Trusts
A charitable remainder trust is a deferred giving arrangement under which you transfer property (cash, securities or real estate) to a trustee. You retain the right to the income from the trust either for life or for a specified number of years. the Church of the Presentation of the Blessed Virgin Mary receives whatever remains in the trust after the term or after the death of the last beneficiary.
Naming the Church of the Presentation of the Blessed Virgin Mary as the beneficiary of tax-deferred accounts avoids income tax and can reduce estate taxes.
IRS Circular 230: In compliance with the requirements imposed by the IRS pursuant to Circular 230, we inform you that (i) any written tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code; (ii) this communication was written to support the promotion or marketing of the transactions or matters addressed herein; and (iii) a taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.