With Gratitude —
Streaming sunlight and unseasonably warm weather welcomed more than 100 guests to the 2016 President’s Circle Brunch held at the Commonwealth Chateau at SugarLoaf on October 30.
The annual donor recognition event is held to honor those women and men who have chosen to financially support Chestnut Hill College at specified giving levels.
“Today is our chance to appreciate and thank you, the individuals who make up the various societies and circles of our most generous donors,” said Sister Carol Jean Vale, Ph.D., CHC’s president. “As our most giving, passionate and committed donors, I am happy to affirm our shared core values. I know that you are literally putting your money where your heart is.”
Remarks also were made by Adm. William J. Holland, USN, Ret. and Anne Daly Holland ’56.
Caritas Society recognizes donors who have contributed or made irrevocable gifts of at least $500,000 in cumulative lifetime giving.
Hallmark Society members have committed planned gifts to CHC through bequests, charitable gift annuities, charitable trusts or life insurance.
President’s Circle members have made a minimum contribution of $1,000 to CHC in the last fiscal year for any purpose.
For information on becoming a member of one of these groups, contact Kimberly Yost Moyer, senior director of development at moyerk@chc.edu or 215-248-7089.
Support CHC and the Future
It’s that time again. No, not “the holidays,” which come around faster with each passing year. It’s the time of year that many consider the types of charitable contributions they will make to beat the December 31 tax-deduction deadline.
According to a recent article in Morningstar.com, the conventional way to make such a year-end contribution is to write a check to charity, then deduct that contribution from taxes if you itemize. However, that contribution draws from income that has already been taxed.
Morningstar’s tax adviser, Sheryl Rowling, suggests that making a donation using investments can provide greater tax benefits. The article goes on to outline key strategies for donors, including for investors over age 70.5 who must take required minimum distributions (RMD) from their IRAs and 401(k)s and for those who wish to donate appreciated securities.
These strategies don’t require donors to have very deep pockets or bulging bank accounts; smaller investors can utilize these ideas as well.
For those interested in being part of the future of Chestnut Hill College, one of the most valuable and transformational gifts is the support of an existing scholarship or endowing one at the College.
If you are among the demographic required to take a RMD, you are eligible to move up to $100,000 from your IRA directly to qualified charities — such as CHC — without having to pay income tax on that money first.
Another option is donor advised funds in which the donor contributes cash or investment assets to the fund, getting an immediate tax deduction. The donor then directs contributions from the fund to the charitable institution of his or her choice.
“We are seeing a trend in donor advised funds here at CHC,” says Kimberly Yost Moyer, senior director of development. “Up to 50 percent of adjusted gross income is deductible when cash is donated and 30 percent of adjusted gross income can be deducted when securities are donated. They are irrevocable, which is why tax benefits are available immediately, even if the amount is not immediately disbursed.”
CHC offers various ways for potential donors to include the College and its students in their giving plans.
For more information, visit www.chc.edu/plannedgiving and/or contact Kimberly Yost Moyer, senior director of development, at moyerk@chc.edu or 215-248-7025, or Sister Marie Bambrick, scholarship liaison officer, at bambrick@chc.edu or 215-248-7014.
