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Thank You
I cannot say Thank You often enough for your continued friendship. You make it possible for us to continue the important work of spreading devotion to our Lady of the Miraculous Medal and assisting the Vincentian community.
As part of the Vincentian community, members of our Lady’s Association follow in the footsteps of Saint Vincent de Paul in serving the poor.
Vincentians work with many impoverished people, both here and abroad, evangelizing them, and helping them to improve their lives.
You also help educate our seminarians and assist our senior Vincentian priests and brothers.
The love our Blessed Mother has for her children is boundless. She enfolds all of us in her loving arms and helps us through the difficult times in our lives.
These difficult economic times have caused hardship to many people in all parts of the world. I hope you have been able to survive this time of tremendous challenge.
If you have been one of the fortunate ones, please consider making a Year-End Gift to the Association of the Miraculous Medal to express your thanks for the blessings our Lady has bestowed upon you.
Please read the following information to find the way to help that would be most beneficial to us both. It is always wise to consult your tax advisor since tax laws are often confusing.
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Ways to Give |
Gifts of Cash: The most common form of gift is the Cash gift. These gifts can be made in the form of cash or checks.
These gifts can be deducted up to 50% of your adjusted gross income (AGI).
If you do not normally itemize deductions, combining two years donations into one tax year may be more advantageous to you.
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Securities: If you own individual stocks, bonds, or mutual funds that have decreased in value you may want to cash the securities and take the loss on your tax return to reduce your taxable income.
When you donate these proceeds to charity, you can also take a charitable deduction which will further reduce the amount of the tax you owe.
The combined deductions of the loss and the gift can be substantial.
If your securities are now worth more than they cost they can also provide you with a tax deduction.
If these assets are owned for more than one year, they are usually deductible from income tax at their full current value.
Gifts of securities can leave your cash available for other purposes.
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Life Insurance:
Many times life insurance is purchased as a safety net for a specific purpose such as paying for your home or educating your children.
Once these goals have been met, your need for the policy no longer exists.
You can name your favorite charity as the primary or contingent beneficiary of an existing life insurance policy.
During your lifetime, you can retain ownership and have access to the policy’s cash value, if needed. At your death, the charity would receive the proceeds.
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Memorial Gifts: Holidays are times to remember. We often think back over the years and remember someone who has done something special for us, or loved ones who have passed away.
A Tribute Gift to the Association is a thoughtful way to express your appreciation and love for a special person in your life. Your Tribute Gift will also help us in our work.
We will be happy to send an announcement card to the person you are honoring or to the family of the deceased.
If your gift is $25 or more, the name of the person and your name will be published in a future issue of the Miraculous Medal Bulletin.
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Estate Planning: After you have made provisions for your family, please include your favorite charities in your estate plans.
Gifts can be made through your Will, Living Trust, Life Insurance Policies, or Retirement Plan.
These gifts allow future generations to benefit from your charity, and are very important to the future of the Vincentian community.
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IRA - Required Minimum Distribution (RMD): Individuals reaching 70-1/2 years of age are required to begin taking taxable distributions from their retirement accounts.
Many times this distribution results in higher income taxes.
If you are required to take funds from your retirement accounts that are not needed for personal expenses, please make a charitable donation using these funds.
This donation could save you income taxes and benefit your favorite charities. |
| The Association does not offer legal or tax advice. For advice consult your attorney or other professional advisor. This is general information only. |
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