Gifts That Reduce Your Taxes
You can bring Christ to the world through spiritual renewal, academic excellence rooted in our Catholic faith and parish-based outreach ministries to the more than 2 million Catholics and community members who reside in Cook and Lake counties. What’s more, you can also enjoy tax benefits from these gifts now, or you can establish a future gift that will pass tax benefits along to your loved ones.
Stocks and Securities
When you give stock or securities (stock, bonds, mutual funds), you may be eligible for a double tax benefit: 1) You receive an income tax deduction for the full, present, fair market value of the assets and 2) you may completely avoid capital gains tax on the appreciation of the assets. This is one of the easiest gifts to give and one of the most useful in accomplishing your philanthropic goals.
To make a gift of stock or securities to your parish or the archdiocese, please follow the instructions below:
- Please complete the electronic Letter of Intention form, which is available online here.
- Once you have submitted the form, you will receive a confirmation email with detailed instructions on how to complete your gift of stock. Please follow those instructions.
- If you have any questions, please contact Karen Whitehead in the Archdiocese Stewardship and Development Office at 312.534.7461 or kwhitehead@archchicago.org
Retirement Assets
A gift of your retirement assets, such as an employee retirement plan, IRA, or tax-sheltered annuity, is an excellent way to make a gift. A gift of these assets can shield you or your heirs from taxes while funding your parish and/or the Archdiocese of Chicago.
Life Insurance
Transfer ownership now:
To make an impact on our mission today, irrevocably designate your parish and/or the Archdiocese of Chicago as owner and beneficiary of an existing life insurance policy. If your policy is paid up, you will receive an immediate income tax deduction based on the policy value.
If your policy is not yet paid up, you will make contributions of cash to your parish and/or the Archdiocese of Chicago to cover future premium payments. For any continuing premium payments you make, you will receive a charitable deduction in the year of the payment.
Name us as a beneficiary:
You can name your parish and/or the Archdiocese of Chicago as a beneficiary of all or a portion of your life insurance policy. With this gift arrangement, your parish and/or the Archdiocese of Chicago will receive the proceeds of your policy when you pass away. You can change your beneficiary at any time.
This gift is easy to arrange — simply request a beneficiary designation form from your plan administrator.