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Ways to Give » Campus Ministry - Catholic Center at Rutgers University » Giving Opportunities
While most people first think of writing a check when they make a contribution, charitable gifts can also be made with other assets. The following describes the various methods of giving. The Diocese of Metuchen can provide more detailed information about the various gift vehicles available that can benefit Campus Ministry at the Diocese of Metuchen’s Catholic Center at Rutgers.
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Those who wish to make an outright gift of cash to the support the Catholic Center at Rutgers through its Annual Appeal should make checks payable to Catholic Center at Rutgers. Such gifts are tax deductible to the full extent provided by law. Pledges can be paid off in monthly installments (up to 10 months). Gifts or pledges of $25,000 or more can be made as memorial or honorary gifts; naming opportunities exist at this giving level.
Appreciated securities can provide an attractive means of giving. Through this type of gift, an individual can receive a charitable income tax deduction and avoid paying tax on the “capital gains” that would be due if the stocks were sold outright. A gift of securities can be made by transferring stock to the Diocese of Metuchen (for restricted use to benefit The Catholic Center at Rutgers). To facilitate this process, please call the Office of Development at 732-562-2432.
Many companies have a Matching Gift Program that may increase the overall contribution by an employee and enhance the charitable impact. The company’s human resources office can provide the necessary information and forms. Refer to the Matching Gifts Information Brochure to see if your employer is listed as having a Matching Gift Program.
Planned or deferred gifts represent a special type of support that benefits you, the donor, and the Catholic Center at Rutgers. Often a planned gift allows you to maximize your contribution and provide you specific income and estate tax advantages. Planned gifts may also offer you income during your lifetime. The Diocese of Metuchen, Office of Development can provide you with information and assistance if you are considering a planned gift.
Life Income Gifts
One can make a gift of cash, securities, or other assets to the Catholic Center at Rutgers and receive both income for life and a charitable tax deduction in return. A variety of trusts and annuities (such as a charitable gift annuity or CGA) facilitate such gifts. Upon the donor’s or designated beneficiary’s death, or at another prearranged time, the trust terminates and the assets are transferred to The Center.
Individuals may make a gift of a specific amount or a percentage of his or her estate to support Campus Ministry at the Catholic Center at Rutgers.
The Diocese of Metuchen may be named as the owner and beneficiary of a new policy or the ownership of an existing policy may be transferred to the Catholic Center at Rutgers.
Real estate allows donors to both claim an income tax deduction for the value of the gift and avoid paying a capital gains tax on the appreciation of the property.
If the largest asset in your estate is your retirement plan, such as a 401(k), IRA, or Keogh, the IRS will impose income tax on the remaining balance in the account if you designate it to a beneficiary other than your spouse. This tax is in addition to the estate tax that may be imposed on the retirement account. For estates fully subject to the estate tax, the result can be that up to 60 percent of the value of your retirement plan will be consumed in taxes before your child, relative, or friend receives it.
A sensible charitable alternative is to name a charitable entity, like the Diocese of Metuchen’s Catholic Center at Rutgers, as the beneficiary of your retirement plan, then use other assets not subject to income tax to make gifts to your heirs. The Diocese of Metuchen, as a qualified 501 (c)(3), won't pay income tax on the distribution and your heirs will receive their share of your estate without the burden of extra taxes.