WAYS To GIVE
Forming young men with generous hearts to become the future shepherds of Christ’s flock has been the joy and the privilege of the Josephinum for well over a century. Since the seminary’s beginning, providing priests to lovingly care for the Lord’s flock has required – and has brought forth – an abundance of generosity from the faithful.
As we strive to form men to be generous, holy priests, we ask you to please consider a gift to the Josephinum. We are indebted to you for your prayers and support and humbled by your faith in our mission. Your generosity is a gift to the seminarians who have embarked on the exciting journey of preparing to become tomorrow’s shepherds.
Our 2020-2021 Fiscal Year Honor Roll of Donors pays tribute to all who supported the mission of the Josephinum from July 1, 2020 through June 30, 2021. Know that you are remembered daily in the prayers of our seminary community.
ELECTRONIC BANKING SERVICE
The Pontifical College Josephinum offers an electronic banking service to make your support of the seminarians more cost-effective by spreading your gift over 12 monthly donations. Once the EBS has been set up, your gift payments will be transferred automatically from your account. These transfers will occur on the same day each month (usually within the first 10 days of the month). The deduction will continue until you cancel or change the amount of your monthly gift.
If you have questions about the electronic funds transfer, contact the Office of Advancement at 614-985-2234.
Checks should be made payable to the Pontifical College Josephinum and mailed to:
Pontifical College Josephinum
Office of Advancement
7625 North High Street
Columbus, Ohio 43235
We can accept gifts charged to Visa, MasterCard and Discover by phone. Simply call the Office of Advancement at 614-985-2234.
Visit the Office of Advancement during business hours (Monday-Friday, 8:30 a.m. to 4:30 p.m.), where gifts may be made by cash, check, or credit card.
GIFTS OF STOCK AND OTHER APPRECIATED SECURITIES
A gift of appreciated stock (typically held for longer than one year) is an ideal and tax-wise method of supporting the Josephinum. As an added benefit to the donor, gifts of appreciated stock avoid any capital gains on the increased value of the appreciated property, and donors receive a full deduction for the full market value at the time of the gift and capital gains tax is not due when the stock is transferred to our seminary. The mean market value on the date of the transfer will determine the value of the gift for tax purposes. All of those specific valuations will be provided by our Advancement Office staff.
NOTA BENE: It is best to consult with a financial advisor to facilitate this kind of gift and to ensure proper credit is extended to you, our loyal donor. Please contact our Advancement Office at (614) 985-2325 to alert us of your stock gift so you will receive proper credit and confirmation your stock gift has been received and is being processed. You can also download our Stock Transfer Instructions.
MAKING A GIFT WITH YOUR IRA
For 2020, the CARES Act eliminated the Required Minimum Distribution (RMD) for donors who are age 70 ½ or older. Donors of that age may still make gifts (as permitted by law) up to $100,000 from a traditional or Roth IRA to a qualified charity, which includes our seminary! Transfers must be made directly from an IRA custodian to the Josephinum, so please consult with your financial-advisory team for assistance. Please contact our Advancement Office at 614-985-2325 or email VP for Advancement, Doug Stein at: email@example.com for additional details.
Many companies provide funds to match gifts that their employees and retirees make to certain non-profit institutions. This is a way to enhance the philanthropy of the company, while encouraging employees and retirees to support their favorite charities. Contact the human resources office of your company to see if it has a matching gift program. Matching gifts are a wonderful way to double, or even triple, the impact of your own generosity.
GIFTS "IN MEMORIAM"
Loved ones often choose to designate memorial donations to the Josephinum in lieu of flowers. All gifts to our seminary are acknowledged within 48 hours of receipt and our staff will notify all designated family members/loved ones who are identified in writing by the donor.
GIFTS TO HONOR MILESTONES & ANNIVERSARIES
Family members are encouraged to commemorate milestone occasions such as ordination anniversaries of Josephinum alumni, wedding anniversaries, births, and other significant occasions with a “gift in honor of…” to the Josephinum. All gifts to our seminary are acknowledged within 48 hours of receipt and our staff will notify all designated family members/loved ones who are identified in writing by the donor.
DONOR ADVISED FUNDS
Donor Advised Funds (DAF) are an excellent vehicle to support the Pontifical College Josephinum. Direct your foundation team to direct all DAF gifts to Pontifical College Josephinum, 7625 North High Street, Columbus, OH 43235. Our Federal Tax I.D. is 31-4379535.
A Note About Increased Cash Contribution Limits
The Coronavirus Aid, Relief, and Economic Security (CARES) Act (PL 116-136), which was signed into law on March 27, 2020, changed the rules for cash contributions for both individuals and C corporations that are made to public charities after December 31, 2019. The enhanced deduction limits do not require that donations be made for COVID-19-related purposes.
Gifts from All Individuals
For 2020, a key change to the tax code applies to individuals making new gifts to a qualified charity. First, individuals who claim the standard deduction can take a write-off for cash donations up to $300. No additional paperwork is required to claim the deduction but taxpayers/donors should be prepared to provide the necessary documentation. The Josephinum provides gift receipts for all gifts regardless of the amount. Second, all individuals who itemize usually would have been limited to 60% of adjusted gross income (AGI) in deducting cash donations this year. Under a law change for 2020, the limit is 100%. This higher limit, however, does not apply to donations to private foundations or donor-advised funds.
PLEASE NOTE: The Pontifical College Josephinum does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.