Important Information Holiday Office Hour’s
Dear Friends in Christ,
We are grateful to Bishop Noonan for granting our team the opportunity to celebrate the Christmas season with extended time for rest and reflection. The Catholic Foundation of Central Florida’s office will be closed from December 24th to January 1st.
However, we know year-end is a time with important deadlines for those we serve. This page will provide you with information about tax deadlines and details about the additional benefits of making year-end charitable gifts through stock and IRAs. You will also find links to donate online to parishes, schools and ministries throughout the Diocese of Orlando.
If you are contacting us while the office is closed and you have an urgent matter, members of our team will be available to assist you. If you need assistance with your recent gift or pledge, please contact Bryce Howard. If you need assistance with making a donation of stock, IRA or DAF or if it is another urgent matter, please contact Madelyn Weed or (407) 664-7856 (if you leave a message, she will return your call promptly).
Regular office hours will resume on January 2nd. We wish you a blessed Christmas and a Happy New Year!
Merry Christmas and Happy New Year! We know the end-of-year is a time with important deadlines for those we serve. That’s why we put together a list of helpful tips below to help guide your end-of-year giving. Thank you for your generosity throughout the year. May God’s peace and joy reign in your heart this Christmas season!
The people who walked in darkness have seen a great light; Upon those who lived in a land of gloom a light has shone. Isaiah 9:1
It is the most generous time of the year and there is no better way to celebrate Jesus’ birth than by sharing the gifts we have received with others. There are many ways you can support your parish, school, Our Catholic Appeal or an endowment or reserve fund. Enjoy some tax advantages in your year-end giving:
1. Key Deadlines for Gifts
- Check Donations: Must be postmarked by December 31, 2024, to count for this tax year. Please make checks payable to your parish, school or ministry organization. For gifts to The Catholic Foundation or one of the endowment/reserve/DAF funds, please make payable to “The Catholic Foundation of Central Florida” and mail to P.O. Box 4905, Orlando, FL 32801.
- Online Gifts: Complete by 11:59 PM on December 31, 2024. Click here for The Catholic Foundation’s gallery page of our Diocesan entities and ministries to find the area of interest on your heart.
- Stock Transfers: Initiate by December 22, 2024 (or earlier) to allow time for processing before the 31st. The Catholic Foundation’s provides complimentary processing of stock gifts for any Diocesan entity – detailed information for you and your broker can be found at www.cfocf.org/stock.
- IRA Charitable Rollovers: Complete direct transfers by December 31, 2024. Contact your IRA custodian well in advance to avoid delays. Click here for instructions to share with your IRA custodian, as well as our contact information so that you can advise us that your gift is on the way.
- Credit Card Donations: Must be processed by December 31, 2024, even if the bill is paid later.
- Donor-Advised Fund Contributions: Contributions to your DAF must be made by December 31, 2024, to qualify for a deduction this year.
2. Tax Deduction Guidelines by Gift Type
- Cash Gifts: Deductible up to 60% of adjusted gross income (AGI).
- Appreciated Assets (Stocks, Mutual Funds, etc.): Deductible at fair market value up to 30% of AGI, with no capital gains tax owed on the appreciation.
- Donor-Advised Funds (DAFs): Contributions to a DAF allow for an immediate tax deduction, even if the funds are distributed to charities later. This is a strategic option for “bundling” donations or when you are unsure which charities to support before year-end.
- “Bundling” charitable contributions is the practice of making larger-than-normal charitable donations in one year to maximize the tax benefits.
3. Streamline the Process
- Gather Documentation: Ensure you have receipts or written acknowledgments for all gifts over $250 to claim deductions.
- Use Employer Matching: If your company offers a matching gift program, check the deadlines to submit a match request.
- Bundle Contributions: If you’re itemizing deductions, consider “bunching” multiple years of donations into this calendar year to exceed the standard deduction threshold.
4. Consult with a Professional
- Talk to your financial advisor or tax professional to confirm the best strategies for your situation. Each giving option can have different implications depending on your overall financial plan.
By keeping these tips in mind, you can ensure your year-end giving is impactful and aligned with your personal and financial goals.
Celebrate the Giving Season
Gift giving brings us joy and can also bring us tax advantages too! Increase your impact by sponsoring a match for one of your favorite charities and inspiring others to give a year-end gift. If your circumstances allow, step out of your routine and consider giving to a new ministry. Explore a list of diocesan ministries at www.cfocf.org/makeanimpact.
A Guide on Your Giving Journey
The Catholic Foundation of Central Florida is an independent 501(c)3 organization supporting entities, individuals and families in achieving their charitable goals and addressing community needs. We are blessed to partner with Catholics throughout Central Florida to fund God’s work and advance the ministries of the Catholic Church. We have earned the GuideStar Platinum Seal of Transparency, which is the independent research organization’s highest recognition for nonprofits. The Catholic Foundation is a proven trustworthy philanthropic organization to give to and give through.
The Catholic Foundation provides tax letters for cumulative gifts over $250 annually given through our office. Tax letters from The Catholic Foundation will be delivered by January 31, 2025. Please be aware that your parish and other ministry organizations will also provide tax letters for your 2024 contributions to them.
If you have questions or for assistance maximizing the impact of your year-end giving, contact Madelyn Weed, CFRE, CAP, Interim CEO or (407) 246-7188.