Faithful Stewards . . . Building Our Future
The Capital Campaign is off to a good start.
We have received over $400,000 from our generous parishioners!
Our goal for the Campaign is to raise 2 million dollars over four years.
Please join fellow parishioners in supporting the campus improvements.
You may use the yellow envelopes included in your packets or found in the pews.
Rectory Groundbreaking Ceremony
October 25, 2020
Our Parish leadership has been working together on a set of improvements that are essential for the Holy Name of Jesus campus. The proposed new projects would:
- Create a separate residence for the priests
- Establish adequate work areas for the business office
- Provide private offices for the priests
- Bring our new church up to its original plan
- Modernize the social hall
- Improve handicap accessibility
Tips On Giving
Bundle Up Baby! You can make a Tax Deductible donation to our Capital Campaign using a strategy called “Bundling”. Under the new tax law, people are finding it increasingly more difficult to itemize and therefore deduct gifts they make to charitable organizations. With the large increase in Standard Deductions (individuals - $12,200 and families - $24,400), most people are not itemizing deductions on their federal tax returns. New limits have been placed on the deductibility of our state and local taxes as well. As a result, modest donors typically don’t exceed the standard deduction to itemize their charitable gifts on their tax filing. Bundling your charitable giving into a single tax year can help you exceed these limits and make a portion of your gift tax deductible in the year in which you bundle your charitable gifts. A family that gifts $10,000 annually might be better to combine two years of their giving into one calendar year. As an example, by deferring their gift to the next calendar year, their total gift for the second year is now $20,000 and a portion of it will likely be tax deductible. Even the most generous donors will find “Bundling” as a tax efficient strategy. As we all should agree, receiving a reduction to your taxes is nice, but it is the spirit of giving to our church and other charities that defines us. It is not the size of the gift you give to our Capital Campaign but rather the fact that we are working together toward a common goal. Please remember to include the Capital Campaign in your seasonal gifting.
Investors, have you seen your Stocks, Bonds, and Mutual Funds grow substantially over the past few years? If so, you could face significant capital gains tax when you sell those securities. Alternatively, you could donate all or part of your investment directly to the Holy Name of Jesus Capital Campaign and avoid paying up to 20% in capital gains tax. Your contribution to the Capital Campaign can potentially be 20% higher compared to selling the investment and making a cash contribution. This is a much more tax efficient method for gifting. Families who take the “Standard Deduction” when they file their federal tax return are not able to deduct donations to charitable organizations. Donating appreciated investments, instead of cash, has increased in popularity due to the potential tax savings. For more information visit the Diocese of Harrisburg Website to learn more and download the Donation Form required to gift securities to the Holy Name of Jesus Capital Campaign. Contact or visit the Parish Office with any questions or to pick up a Donation Form.
Seniors, are you taking the “standard deduction” on your federal tax return and wishing you could “write off” your charitable contributions? Here is a simple way to accomplish that goal and help our parish by donating to the Holy Name of Jesus Capital Campaign. After reaching the age of 70 ½, you must withdraw annually a Required Minimum Distribution (RMD) from your traditional IRA. This withdrawal is reportable income on your federal tax return. An alternative would be to consider making a Qualified Charitable Distribution (QCD) from your IRA directly to Holy Name of Jesus. The QCD donation to our church reduces, dollar for dollar, the reportable taxable withdrawal from your IRA. Taking this approach, you are able to receive a tax benefit for your charitable donation and provide financial support to our parish. For those of you who are willing and able to contribute more than your RMD, your generosity is greatly appreciated. As always, it is recommended that you consult with your tax professional about this method of tax efficient giving. The parish office remains available to answer any questions you may have regarding QCDs.
Holy Name of Jesus Church
6150 Allentown Boulevard
Harrisburg, PA 17112-2603