Are campaign gifts tax-deductible as charitable contributions?
St. Scholastica Monastery is a 501(c)(3) non-profit corporation. All gifts are tax deductible to the fullest extent of the law. A charitable gift receipt will be issued for every donation that meets IRS standards.
What kinds of gifts are accepted?
Every gift, regardless of amount, is important. We welcome:
What are the tax advantages of cash gifts?
The advantage of this method of contribution is that your actual out-of-pocket cost is less than the dollar amount of the gift because of the allowable income tax deduction. You can deduct an amount up to 50% of your adjusted gross income in a year that you make a contribution. Any excess contributions over this percentage may be deducted over the next five (5) years.
What are the tax advantages of non-cash gifts?
Your gifts of non-cash property such as securities may provide an ideal way for you to make a contribution. Gifts of this type may be more advantageous than cash gifts because you can make a larger gift at less cost to you.
Are there naming opportunities available?
There are numerous opportunities in the campaign to honor parents, family members, friends, and Sisters who have impacted your life. Special naming opportunities are listed in the campaign literature. The Sisters plan to honor every donor in the capital campaign.