End-of-Year Giving Details

If you have owned a stock for more than one year and it has grown in value, you may be in line for two tax benefits:

• Avoid taxes on the appreciated value
• Qualify for an income tax charitable deduction based on today’s market value when you itemize

You receive the same tax saving as if you wrote a check, but with the added benefit of eliminating capital gains taxes.

All transfers need to be processed on or before Dec. 31, 2022. This includes by mail, electronic transfer or hand-delivery of the assets.

If you are 70½ or older, you can give any amount up to $100,000 per year from your IRA directly to Central Catholic High School.

You will not pay income taxes on the transfer. If you are required to take minimum distributions, you can use this transfer to satisfy all or part of your obligation.

Your gift needs to be received by Dec. 31, 2022 for your donation to qualify this year.

If you have check-writing features on your IRA, please be aware that your check must clear your account by Dec. 31 to count toward your required minimum distribution for the calendar year.

If you’ve created your Central Catholic legacy by remembering us in your will, trust, or other estate plans, please inform Mr. David Erwin P’24, Chief Advancement Officer at derwin@centralcatholic.net or 978-682-0260 ext. 656.

Sharing your plans with us is an important step, so we can ensure your wishes are carried out and recognize you for your generosity, kindness, and support.

If you’d like to learn more about creating a legacy, visit our Planned Giving website at plannedgiving.centralcatholic.net.

Planned Giving