1. Enhance Scheduling Efforts
2. Enhance Development Efforts
3. Expand Number of NET Teams
1. Open an Eastern Regional Office
2. Open a Western Regional Office
3. Increase NET’s Strategic Reserves by 50%
4. Increase NET’s Focus on Planned Giving
Creative Gift Ideas that Go a Long Way
There are a number of ways you can include NET Ministries in your estate plans. Some can be utilized immediately, providing financial assistance to NET today, others establish deferred gifts and will bear fruit at a later date.
Gifts of Cash or Securities
A gift of Cash or Securities can be made in any amount, either immediately, or as a deferred gift by naming NET as its recipient in your will. When donating appreciated stock or mutual funds, held for more than a year, there is the possibility of eliminating federal capital gains tax. These funds resulting from these gifts are carefully managed and invested so they will continue to grow. Each year only a small percentage of the earnings are disbursed to support the NET teams. The rest is reinvested, increasing the principle in NET’s long-term reserves and guaranteeing a funding source for many generations of NET team members.
Gifts of Real Estate and other kinds of Property
NET is also able to receive gifts of property (buildings, land, art, jewelry, etc). In the case of a primary or vacation home, you can even continue to use it for the rest of your life and dedicate it to NET Ministries in your estate plan. Gifts of this kind are sold at their fair market value with the proceeds then added to the principle of NET’s long-term reserves. Gifts of this type are considered on a case-by-case basis.
Proceeds from a Life Insurance Policy
Proceeds from universal or whole life insurance policies may be given by paying the premium for the policy and irrevocably assigning NET Ministries as the beneficiary and owner.By donating your insurance policy you may take an income tax deduction equal to its current cash value.
Pension/Retirement Fund Assets
All or a portion of the value of your IRA, 401(k), 403(b), Keogh, or the remainder in your pension account may be given by assigning NET Ministries as a full or partial beneficiary. Gifts from IRA’s are particularly popular, for unlike your descendants, NET Ministries, as a non-profit organization, is not required to pay tax on the proceeds.
A Charitable Gift Annuity
A charitable gift annuity provides you with regular payments for the rest of your life. Upon your death, the balance of your annuity then becomes a charitable gift to the NET Ministries fund at the Catholic Community Foundation. A minimum gift a $10,000 is required to establish a Charitable gift annuity.
Charitable Remainder Trust (CRT)
Charitable remainder trusts offer a way to contribute to a designated charity while providing an immediate income tax deduction and annual income for you and an optional second beneficiary. You can establish a CRT by gifting assets (cash, stocks, bonds, property, etc.) worth at least $100,000 to NET’s fund at the Catholic Community Foundation. The Foundation then sells the assets tax-free, invests the proceeds, and serves as trustee, providing you with guaranteed payments for the rest of your life (or if you prefer, a set term for up to 20 years). Payments to you are received quarterly or annually and are generally 5-6% of the trust’s value. Upon the death of the beneficiaries, the remainder in the trust is added to the endowment for NET Ministries.
Charitable Lead Trust (CLT)
A Charitable Lead Trust (CLT) is an instrument for donors who anticipate high estate and gift taxes in transferring their wealth to heirs. CLT’s are irrevocable, taxable, split interest trusts. The donor funds a trust with assets such as cash or stocks that will pay an annual income stream to a charity(s) of their choice for a specified term. The assets of the trust are invested and managed by a trustee. At the end of the trust term, remaining trust assets revert to the donor, or are transferred to one or more non-charitable beneficiaries designated by the donor. Because the appreciation in value of the CLT assets is not subject to estate and gift tax, the CLT is an attractive gift vehicle for appreciating assets.