Excitement is in the Air!
“I think money is a wonderful thing because it enables you to do things. It enables you to invest in ideas that don't have a short-term payback.” --Steve Jobs
Dear Parishioners:
I heard from CCS, who is helping to run our capital campaign and is currently running the feasibility study, that we have had an excellent response to the surveys, both in Zoom and online. This says to me that there is some excitement about our upcoming projects!
Even before we head into the parish and diocese capital campaign, we do have expenses related to the preparation for the campaign. The use of CCS for the fund-raising will cost us $240,000 ($40,000 a month for six months). Yes, this seems like a huge fee, but we would have to pay that kind of money for a fund-raising company even if the diocese did not hire CCS. You need to spend money to make money. We are probably getting CCS at a good price because they are working with all the parishes in the diocese, only with some are they doing a campaign like ours that requires the additional cost.
As the end of the year comes, parishioners 70 ½ and older can help with a contribution from your minimum required distribution from your IRA.
For this it is required:
You must be 70 ½ and older
Distributions must be made directly from the IRA to a qualified charity
Your taxable income can be reduced by up to $100,000, the maximum allowable
Only traditional IRA accounts are eligible. The IRA Qualified Charitable Distribution cannot be used with other retirement plans such as a 401(k), 403(b) or a SEP IRA
An IRA QCD can be used to fund a Charitable Gift Annuity in an amount of up to $53,000
An IRA QCD cannot be made to a Donor-Advised Fund
A sample letter to your financial administrator can be found at:
https://www.catholiccommunity.org/ways-to-give/ira-qualified-charitable-distribution
When you give to Holy Spirit, you satisfy your required distribution and it is tax-free.
If you need information about the parish tax ID number, please contact Nicole Davis, the parish business and operations manager, at ndavis@hspal.org, or 440-933-3777.
Please consider Holy Spirit in your minimum required distribution from your IRA this year and through the years of the collecting of pledges for the campaign…and beyond.
Sincerely,
Rev. Charles F. Strebler
Pastor
