Giving to Monsignor Farrell High School
There are many ways to make a gift to Monsignor Farrell High School, all of which have a positive tax impact on the donor/grantor. While every donor/grantor should seek professional tax advice as to the extent of the positive tax treatment he/she would reap as a result of making a gift to Monsignor Farrell High School the tax code is clearly supportive to both donors and charitable institutions.
The following are general giving categories by which you can make a gift to Monsignor Farrell High School. For more detailed information please contact John Cusick '88, Director of Institutional Advancement, at 718-987-2900.
We greatly appreciate gifts made in any format. If possible, cash gifts are best received by check, as credit card donations are subject to transaction fees.
Include checks or money orders
You can receive a deduction for the full market value of appreciated stocks if you have owned them for more than twelve months - for up to 30% of your adjusted gross income.
On Line Gifts:
Gifts can be made with credit cards
Corporate Matching Gifts:
Check with your company to determine if they have a Matching Gift Program. This type of program can effectively double the value of your gift.
There are a number of different types of trusts available by which you can make a charitable donation to the school. These include a Charitable Remainder Annuity Trust; Charitable Remainder Unitrust: Charitable Lead Trust
Charitable IRA Rollover:
Taxpayers age 701/2 and older can make tax free donations up to $100,000 per year to charitable institutions from traditional IRA’s and Roth IRA’s.
Donors who make an outright gift of real estate that they have held for at least twelve months can receive a tax deduction of up 30% of his/her adjusted gross income. The remaining value of the deduction can be carried over and deducted over the next five years.
A simple way of giving is to name Farrell in your will for either a specific dollar amount or as a percentage of your estate.
Retained Life Estate:
You can deed your home to the school while continuing to use the property for the rest of your life.
Deferred Gift Annuity:
You can transfer cash or securities to Farrell from which you are paid fixed annuity payments for life.