{"id":281,"date":"2012-12-03T18:18:05","date_gmt":"2012-12-03T18:18:05","guid":{"rendered":"http:\/\/www.nativitycatholicchurch.net\/admin\/?p=281"},"modified":"2012-12-03T20:03:07","modified_gmt":"2012-12-03T20:03:07","slug":"three-ways-to-get-a-40-nd-tax-credit-for-your-parish","status":"publish","type":"post","link":"https:\/\/www.nativitycatholicchurch.net\/admin\/2012\/12\/three-ways-to-get-a-40-nd-tax-credit-for-your-parish\/","title":{"rendered":"THREE WAYS TO GET A 40% ND TAX CREDIT FOR YOUR PARISH"},"content":{"rendered":"<p>The recently enacted North Dakota Senate Bill 2160 increases the opportunities for North Dakota taxpayers to get a generous 40% state income tax credit for charitable contributions. With this credit alone, you can make a gift of $5,000.00 to Nativity Church of Fargo through one of our four parish endowment funds for a net cost of just $3,000.00 after the North Dakota tax credit \u2026 and when you consider federal tax deductions net the cost can be even less, depending on your tax bracket. (See examples in the chart below).<\/p>\n<p>Our current endowments are:<\/p>\n<ul>\n<li><strong>Maurice Muller Endowment Fund:<\/strong> Established in 2000, this fund is used for the education of persons involved in Liturgy or Social Justice.<\/li>\n<li><strong>Nativity Parish Social Justice Ministry Fund:<\/strong> Established in 2004, this fund endows a Nativity staff position to promote Catholic Social Justice.<\/li>\n<li><strong>Nativity Parish Faith Formation Scholarships:<\/strong> Established in 2006, this fund provides financial scholarships to Nativity parish children and adults in need making it possible for them to participate in Nativity Faith Formation, Nativity Youth Ministry, Nativity Sacramental Preparation Programs, and Youth, Youth Adults and Adult Retreat Experiences.<\/li>\n<li><strong>Nativity Church of Fargo:<\/strong> Established in 2008, this is a general fund providing parish support for Nativity Church.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>OUTRIGHT ENDOWMENT GIFT TAX CREDIT EXAMPLES.<\/strong><\/p>\n<p><em>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Federal Tax\u00a0Deduction\u00a0 \u00a0 \u00a0 \u00a0 ND State Income<\/em><br \/>\n<em>Cash Gift \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0At 28% Tax Bracket \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Tax Credit \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Net Cost<br \/>\n<\/em>$5,000.00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $1,400.00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $2,000.00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $1,600.00<br \/>\n$25,000.00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $7,000.00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$10,000.00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $8,000.00<br \/>\n$50,000.00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $14,000.00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$20,000.00 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$16,000.00<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>GIFT THE TAX CREDIT PLUS INCOME FOR LIFE WITH A CHARITABLE GIFT ANNUITY<\/strong><\/p>\n<p>See the example for a 76-year-old (one life) at 6% rate* below.<\/p>\n<p>*Rate is determined by age and is locked for life.<\/p>\n<p><strong>$5,000.00 Gift<br \/>\n<\/strong><strong>Result #1: <\/strong>The income tax\u00a0Deduction is $2,176.00 plus\u00a0North Dakota tax credit is $870.00 remaining.<\/p>\n<p><strong>$5,000.00 Principal<br \/>\n<\/strong><strong>Result #2:\u00a0<\/strong>At 6% annuity payments you receive are \u00a0$300.00 with tax-free amounts of $239.40 (Effective payout Rate 9%)<\/p>\n<p><strong>$5,000.00 (Approximate)\u00a0<\/strong><strong>Reminder to\u00a0<\/strong><strong>Nativity Church<\/strong>\u00a0<strong>of\u00a0<\/strong><strong>Fargo<br \/>\n<\/strong>\u00a0<strong>Result #3:\u00a0<\/strong>Payments you receive continue for life. Gift passes to Nativity Church of Fargo with NO probate fees or Estate taxes.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Note: These educational examples are not professional tax or legal advice; consult your tax\u00a0adviser\u00a0about your specific situation.<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>POINTS TO REMEMBER!<\/strong><\/p>\n<ul>\n<li>This is a North Dakota tax CREDIT, not a deduction.<\/li>\n<li>The contribution can still be deducted from your federal income taxes.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>If you could use this generous tax credit, please find out more now. Contact your tax advisor; or visit ndtaxcredit.com for information on benefits, qualifications and limitations.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>QUALIFYING GIFTS<\/strong><\/p>\n<p><strong><em>Individuals<\/em><\/strong><em><\/em><\/p>\n<ol start=\"1\">\n<li>Make an outright gift to qualifying Nativity Church of Fargo endowment fund. Your gifts can be in the form of cash, securities or real estate.<\/li>\n<li>Make a planned gift to Nativity Church of Fargo such as a charitable gift annuity; certain forms of charitable trusts and paid-up life insurance may qualify.<\/li>\n<\/ol>\n<p><strong><em>Business Entities<\/em><\/strong><\/p>\n<ol start=\"3\">\n<li>Make an outright gift to qualifying Nativity Church of Fargo endowment fund.<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p>Remember your parish community of Nativity Church of Fargo in your planning and always consult your attorney, or other professional advisor, especially if you are considering a review of your estate plans as a result of recent tax law changes. Any questions please e-mail at <a href=\"mailto:duanek@nativitycatholicchurch.net\">duanek@nativitycatholicchurch.net<\/a> or call 232-2414 x 134. (Duane J. Koble, Director of Administration).<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The recently enacted North Dakota Senate Bill 2160 increases the opportunities for North Dakota taxpayers to get a generous 40% state income tax credit for charitable contributions. With this credit [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[24],"tags":[223,221,229,224,54,222,55,219,218,234,227,233,56,220,228,53,58,225,230,232,226,231],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p3VpaS-4x","jetpack-related-posts":[{"id":423,"url":"https:\/\/www.nativitycatholicchurch.net\/admin\/2018\/11\/deadlines-for-you-2018-donations\/","url_meta":{"origin":281,"position":0},"title":"Deadlines For You 2018 Donations","date":"November 20, 2018","format":false,"excerpt":"Year-End Contributions Deadlines Please keep in mind the following deadlines for contributions credited to the 2018 tax year. Investment Securities Transfers: Transfer completed by midnight on December 31, 2018. Cash & check contributions-delivered: Received at the office no later than Noon on December 21, 2018, as the office will be\u2026","rel":"","context":"In &quot;Stewardship&quot;","img":{"alt_text":"Hand of parishioner is inserting heart symbol into hole for donations in form of Christian cross on white background. Idea of sincere devotion for faith with all heart","src":"https:\/\/i0.wp.com\/www.nativitycatholicchurch.net\/admin\/wp-content\/uploads\/2018\/11\/AdobeStock_109061233.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":379,"url":"https:\/\/www.nativitycatholicchurch.net\/admin\/2015\/12\/year-end-contributions-deadlines\/","url_meta":{"origin":281,"position":1},"title":"Year-End Contributions Deadlines","date":"December 9, 2015","format":false,"excerpt":"Please keep in mind the following deadlines for contributions credited to the 2015 tax year. Investment Securities Transfers: Transfer completed by midnight on December 31, 2015. Cash & check contributions-delivered: Received at the office no later than Noon on December 31, 2015.** Cash & check contributions-mailed: Postmarked no later than\u2026","rel":"","context":"In &quot;Stewardship&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":415,"url":"https:\/\/www.nativitycatholicchurch.net\/admin\/2017\/09\/nativity-pastoral-council-meeting-tuesday-may-16-2017\/","url_meta":{"origin":281,"position":2},"title":"NATIVITY PASTORAL COUNCIL MEETING Tuesday \u2013 May 16, 2017","date":"September 5, 2017","format":false,"excerpt":"NATIVITY PASTORAL COUNCIL MEETING Tuesday \u2013 May 16, 2017 6:30 p.m. \u2013 Nazareth Room Council Members Present: Fr. Kevin Boucher, Melissa Mehlisch, Ryan Roshau, Fr. Reese Weber Council Members Not Present Eric Krueger, Laurie McKeever Evening Prayer \u2013 Divine Mercy Chaplet Ryan Roshau called the meeting to order. Minutes were\u2026","rel":"","context":"Similar post","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.nativitycatholicchurch.net\/admin\/wp-content\/uploads\/2014\/02\/jesuscross.jpg?fit=478%2C750&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":152,"url":"https:\/\/www.nativitycatholicchurch.net\/admin\/2011\/11\/year-end-contribution-deadlines\/","url_meta":{"origin":281,"position":3},"title":"YEAR-END CONTRIBUTION DEADLINES","date":"November 30, 2011","format":false,"excerpt":"Please keep in mind the following deadlines for contributions credited to the 2011 tax year. Investment Securities Transfers:\u00a0\u00a0Transfer completed by midnight on December 31, 2011. Cash & check contributions-delivered:\u00a0 Received at the office no later than Noon on December 30, 2011\u00a0or\u00a0placed in the December 31, 2011 5:00 PM mass collection.\u2026","rel":"","context":"In \"Amp\"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":393,"url":"https:\/\/www.nativitycatholicchurch.net\/admin\/2016\/10\/3rd-quarter-contribution-statements\/","url_meta":{"origin":281,"position":4},"title":"3rd Quarter Contribution Statements","date":"October 26, 2016","format":false,"excerpt":"We recently (10\/25\/16) mailed contribution statements to our parishioners. \u00a0This statement details contributions made January through September 2016 to the parish. Contributions given after September 31, 2016 will be shown in the year end statement we mail for tax purposes. We ask you to take the time to review your\u2026","rel":"","context":"In &quot;Stewardship&quot;","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.nativitycatholicchurch.net\/admin\/wp-content\/uploads\/2012\/02\/jesus_child.jpg?fit=200%2C301&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":419,"url":"https:\/\/www.nativitycatholicchurch.net\/admin\/2017\/11\/year-end-contributions-deadlines-2\/","url_meta":{"origin":281,"position":5},"title":"Year-End Contributions Deadlines","date":"November 22, 2017","format":false,"excerpt":"Please keep in mind the following deadlines for contributions credited to the 2017 tax year. Investment Securities Transfers: Transfer completed by midnight on December 31, 2017. Cash & check contributions-delivered: Received at the office no later than Noon on December 22, 2017 as the office will be closed the week\u2026","rel":"","context":"In &quot;Stewardship&quot;","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.nativitycatholicchurch.net\/admin\/wp-content\/uploads\/2017\/11\/AdobeStock_79264314.jpeg?fit=1200%2C488&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.nativitycatholicchurch.net\/admin\/wp-json\/wp\/v2\/posts\/281"}],"collection":[{"href":"https:\/\/www.nativitycatholicchurch.net\/admin\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nativitycatholicchurch.net\/admin\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nativitycatholicchurch.net\/admin\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nativitycatholicchurch.net\/admin\/wp-json\/wp\/v2\/comments?post=281"}],"version-history":[{"count":14,"href":"https:\/\/www.nativitycatholicchurch.net\/admin\/wp-json\/wp\/v2\/posts\/281\/revisions"}],"predecessor-version":[{"id":295,"href":"https:\/\/www.nativitycatholicchurch.net\/admin\/wp-json\/wp\/v2\/posts\/281\/revisions\/295"}],"wp:attachment":[{"href":"https:\/\/www.nativitycatholicchurch.net\/admin\/wp-json\/wp\/v2\/media?parent=281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nativitycatholicchurch.net\/admin\/wp-json\/wp\/v2\/categories?post=281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nativitycatholicchurch.net\/admin\/wp-json\/wp\/v2\/tags?post=281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}