REDUCE YOUR 2015 TAXES and Build for the Church’s Future

If you could divert your tax dollars to benefit the future of your parish or diocese, would you?

by Judy Held, President, Catholic Foundation of Eastern Montana

Have you heard about the Montana Endowment Tax Credit? Hundreds of parishioners in our diocese are using this great tax incentive to make gifts to the Catholic Church. Utilizing the “Montana Endowment Tax Credit” helps Catholics maximize our giving potential. It allows us to give to the Church what we would otherwise pay in taxes. You may be able to reduce your taxes for 2015 by making a gift to a permanent endowment fund that will benefit the Catholic Church in our diocese in perpetuity – that’s forever!

Hard to believe that it is possible to make a $2,500 gift for less than $1,000? It’s true!

To qualify for this tax credit, your gift must be designated for a permanent endowment fund of your parish or one of the many endowments that support our entire diocese. Earnings from endowments work year in and year out to benefit the ministries of the Catholic Church. They are an outstanding way to ensure the long-term viability of our Catholic faith! Your gift to an endowment fund will make an impact forever through the earnings it produces.

Here are some endowments you may choose to support with your gift:

• Your own parish’s Endowment
• Youth and Young Adult Ministry Endowment Seminarian Education Endowment
• Priest Retirement Endowment
• Parish Assistance Endowment
• Greatest Needs Endowment
• St. Thomas Camp Endowment

About the Montana Endowment Tax Credit

This unique and generous tax credit is a dollar-for-dollar credit against the Montana income tax you owe in 2015. This is different, and much better, than a tax deduction. It is equal to 40% of the charitable deduction of a planned gift to a permanent endowment fund. The Catholic Foundation of Eastern Montana specializes in helping you select the planned gift that works best for you in order for your gift to qualify. Most parishioners give through Deferred Payment Gift Annuities.

The maximum tax credit allowable in one given tax year is $10,000 per taxpayer ($20,000 for a married couple).

For businesses, the Montana Endowment Tax Credit is equal to 20% of an outright contribution to a permanent endowment fund. The credit is limited to $10,000 per taxpayer per year. For example, a $1,000 donation from your business creates a $200 tax credit.

How to take advantage of this credit in 2015

Please use the envelope attached to this issue of The Harvest. Or, contact Judy Held at 800-332-9998, ext. 120 or judy@catholicfoundationmt.org for more information.

The Catholic Church is only as strong as the support we give it. Your generous response to God’s call to build His church will help our beloved faith flourish, from Livingston to Plentywood to Winnett. Together, we can build a strong future for the Catholic Church in this diocese!