By Sarah O. Hanley • Posted December 13, 2023

“You are being enriched in every way for all generosity, which through us produces thanksgiving to God.” -2 Corinthians 9:11

Thanksgiving begins the season of charitable giving. It is a time when we turn our thoughts more intentionally to those whose lives are dependent on the kindness of others. It is part of the joyous wonder of Advent that while we prepare our hearts for the coming of Jesus, we open those hearts to those in need. Scripture tells us there is no other commandment greater than to love your neighbor as yourself (Mark 12:31).

One well known outlet for this energy is GivingTuesday. On this day, we come together and give back. #iGiveCatholic, which takes place each year on GivingTuesday, is nationally recognized by the Church as the official Catholic Giving Day, celebrating all aspects of our Catholic faith. It is the mission of #iGiveCatholic to unite Catholic communities and donors throughout the country to give back in support of the organizations that have always supported them: parishes, schools, and nonprofit ministries.

Throughout the Greater Philadelphia region, #iGiveCatholic is brought to you by the Archdiocese of Philadelphia and The Catholic Foundation of Greater Philadelphia (CFGP). CFGP acts as a host so that Catholic schools and charitable ministries living out the Corporal Works of Mercy throughout our area can participate. We are overjoyed to report that this year, more than $1.6 million was raised by 7,870 benefactors to benefit the good works of 101 parishes, schools, and charitable ministries of the Archdiocese of Philadelphia.

Another aspect of this time of year is the tax advantage associated with making charitable donations at year-end. As we embrace the season of giving, we want to share how your generosity can impact our brothers and sisters in need. During this time, consider the practical and impactful option of giving non-cash assets, a straightforward way to combine faith and stewardship that benefits you and the Catholic ministries you care about.

Two giving options to think about are transferring appreciated assets and giving directly from an IRA. Donating appreciated stock can provide significant tax benefits while contributing to the common good. By donating stock, you can avoid capital gains tax and receive a federal income tax deduction for the stock’s full market value. Another option is to give directly from an IRA. You can make a Qualified Charitable Distribution if you are 70 ½ or older and have an Individual Retirement Account (IRA). This type of gift can reduce your taxable income and even count towards your Required Minimum Distribution (RMD) if you must take one.

CFGP can help you maximize your impact and create positive change in the Philadelphia region.

To learn more about end-of-year giving and how we can help you fulfill your financial goals that align with our Catholic faith and values, visit our website at https://thecfgp.org. By using the giving tools we offer, you are not only living the teachings of Christ but also ensuring your gift directly impacts the ministries you care most about.

Thank you for your support and continued commitment to our mission of growing philanthropy according to the teachings of Jesus Christ.

We wish you a blessed season of giving and a Christmas filled with the glory of the Newborn King.

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Sarah O. Hanley is the President and Chief Executive Officer of The Catholic Foundation of Greater Philadelphia