Giving
St. Mary's success depends largely on those who care most about it. We cannot all do everything, but we all can do something.
The gift of your involvement and presence is so important, and so is your financial support for the Church and its ministries.
The gift of your involvement and presence is so important, and so is your financial support for the Church and its ministries.
~ Regular Giving - supports the operational expenses of the Church and supplements the expenses of St. Mary's School. For your convenience, we offer automatic withdrawal as well as weekly envelopes.
~ Memorials - Honor the memory of a loved one by making a memorial donation to St. Mary's.
~ St. Vincent de Paul - supports members of our Pontiac community through our food and clothing pantry.
~ School Fund - supports the operational expenses of the School.
~ Building Fund - supports the upkeep and maintenance of buildings and grounds on campus.
~ Annual Diocesan Appeal - supports important Diocesan ministries. Online donations can be made at cdop.org.
"Give, and it will be given to you. Good measure, pressed down, shaken together, running over, will be put into your lap. For with the measure you use it will be measured back to you."
Psalm 112:5-6
~ Memorials - Honor the memory of a loved one by making a memorial donation to St. Mary's.
~ St. Vincent de Paul - supports members of our Pontiac community through our food and clothing pantry.
~ School Fund - supports the operational expenses of the School.
~ Building Fund - supports the upkeep and maintenance of buildings and grounds on campus.
~ Annual Diocesan Appeal - supports important Diocesan ministries. Online donations can be made at cdop.org.
"Give, and it will be given to you. Good measure, pressed down, shaken together, running over, will be put into your lap. For with the measure you use it will be measured back to you."
Psalm 112:5-6
Charitable Giving Incentives for Donors
The first two incentives are through the new CARES Act for those able and wanting to make charitable donations to nonprofits such as their parish, diocese or Catholic Charities. This includes Sunday offering donations as well as direct donations to Catholic Schools.
Support Church through ‘unimaginable times’ – The Catholic Post
Above the Line Deduction
A reduction in taxable income is available in 2020 for donors who do not itemize their deductions, i.e., an “above-the-line” adjustment to income that will reduce a donor’s Adjusted Gross Income (AGI) and consequently taxable income. The adjustment is available for cash gifts up to $300 per taxpayer or $600 for a married couple.
The deduction is not available for gifts to private foundations, donor advised funds (DAFs), supporting organizations (SOs) or for cash deductions carried forward from prior years. And this deduction is not available for noncash gifts such as appreciated stock. This new universal deduction will encourage the great majority of taxpayers who do not itemize to make more cash gifts in 2020.
New 100 percent AGI limit for 2020
A 100 percent AGI limit is available only in 2020 for cash gifts to public charities by those who itemize. This limit does not apply to carry-over deductions from years prior to 2020. Gifts of appreciated stock and to DAFs, SOs and private foundations are not eligible for this special election.
A donor who makes the 100 percent of AGI election can carry over unused deductions up to five additional years. The carry-over deduction will be subject to the regular 60 percent of AGI limit. Because federal income tax rates are progressive, it may not always be to a donor’s advantage to make the 100 percent of AGI election. Donors in the highest federal tax brackets could generate better overall tax savings by using the 60 percent AGI limit and carrying over the excess deduction to the next year. Donors should consult their tax advisers to determine whether the 100 percent election is best.
The first two incentives are through the new CARES Act for those able and wanting to make charitable donations to nonprofits such as their parish, diocese or Catholic Charities. This includes Sunday offering donations as well as direct donations to Catholic Schools.
Support Church through ‘unimaginable times’ – The Catholic Post
Above the Line Deduction
A reduction in taxable income is available in 2020 for donors who do not itemize their deductions, i.e., an “above-the-line” adjustment to income that will reduce a donor’s Adjusted Gross Income (AGI) and consequently taxable income. The adjustment is available for cash gifts up to $300 per taxpayer or $600 for a married couple.
The deduction is not available for gifts to private foundations, donor advised funds (DAFs), supporting organizations (SOs) or for cash deductions carried forward from prior years. And this deduction is not available for noncash gifts such as appreciated stock. This new universal deduction will encourage the great majority of taxpayers who do not itemize to make more cash gifts in 2020.
New 100 percent AGI limit for 2020
A 100 percent AGI limit is available only in 2020 for cash gifts to public charities by those who itemize. This limit does not apply to carry-over deductions from years prior to 2020. Gifts of appreciated stock and to DAFs, SOs and private foundations are not eligible for this special election.
A donor who makes the 100 percent of AGI election can carry over unused deductions up to five additional years. The carry-over deduction will be subject to the regular 60 percent of AGI limit. Because federal income tax rates are progressive, it may not always be to a donor’s advantage to make the 100 percent of AGI election. Donors in the highest federal tax brackets could generate better overall tax savings by using the 60 percent AGI limit and carrying over the excess deduction to the next year. Donors should consult their tax advisers to determine whether the 100 percent election is best.
Online Donations
By clicking the link below, donations can be made using PayPal, debit or credit card. When making a memorial donation, please indicate the name of the person being honored.
