Monday, 20 December 2010 14:05

Tax Relief

On Dec. 18, 2010 the president signed into law The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This bill restores the popular IRA Charitable Rollover retroactively for 2010 and will keep it in place for all of 2011.

Normally, a distribution from your IRA is taxed as ordinary income. But for a limited time, the new law allows donors to make a direct distribution from your IRA to a qualified charity tax-free.

Donors who have not yet taken their 2011 mandatory distribution now have until the end of 2011 to make a tax-free, roll-over contribution to a qualified charity and have it count toward their 2011 taxes.

Which charity will you choose?

• Your parish
• The TOGETHER vision
• A Catholic high school
• Priests’ Retirement and Education Fund
• St.  Katharine Drexel Catholic School Fund
• Catholic Charities Inc.
• The Lord’s Diner
• Guadalupe Clinic
• The Spiritual Life Center

For more information about how you and the Church can benefit from an IRA charitable rollover, contact Mike Wescott in the Office of Development and Planned Giving at (316) 269-3917 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

TOGETHER is a vision for the future growth of our Diocese. This Diocese-wide effort aims to strengthen the communion across our Diocese, deepen our practice of stewardship and to support some of the true needs of our Diocese. Learn more about the TOGETHER vision and how you share responsibility for the mission of the Church.

For most of us, we think of an endowment as an account that has been established in which the principle is not spent, allowing all growth from investments to be spent to provide a source of income to fund the particular entity for which it was established.

Each year, a growing number of people take advantage of making a gift of long-term appreciated securities to their parish or another ministry in the Diocese. Their specific reasons may vary, but they all have in common a desire to return to God in gratitude for the gifts they have been given. They also realize the tax advantage of making a charitable contribution of an appreciated security versus selling the stock first and gifting the cash or simply making a cash gift.

Regular people just like you remember the Church in their estate planning, and you can too.

The Church has received many generous bequests from a number of estates over the years. Many Catholics have determined that they wish to provide for the Church through a gift from their estate. Yet many people just don't consider charitable giving when deciding how to make best use of their hard-earned earthly assets.

I recently had the opportunity to visit with Clara about opportunities available to her to make a gift tot he Church. Clara's husband died several years ago. She has been investing some savings that she accumulated in a Certificate of Deposit, and she has need of some income to meet daily living expenses.

I spent time talking with Clara about the Charitable Gift Annuity Program operated by the Catholic Diocese of Wichita.

A charitable gift annuity is truly a unique way to provide for your future and that of a loved one, where providing for the future of a ministry within the Diocese.