Other Ways to Give
Big or small, every gift shapes the future of Catholic education in Virginia. Beyond scholarship tax credits, our team can help you explore other giving opportunities that align with your philanthropic goals.
Alternate Giving
Thanks to McMahon Parater’s partnership with the Catholic Community Foundation, it’s easy to start a named endowment fund to benefit the Catholic school of your choice in the Diocese of Richmond.
Though stock gifts are eligible for EISTC credits, MPSF can also facilitate stock gifts outside of the EISTC program. It’s a great way to support Catholic education while saving on capital gains taxes.
You can leave a legacy that supports Catholic schools for generations to come by naming a school, an endowment fund, or MPSF as a beneficiary in your will or trust, life insurance policy, or retirement account.
Frequently Asked Questions
The Catholic Community Foundation of the Diocese of Richmond is a separate 501c3 that holds endowment funds for parishes, schools, and ministries across the Diocese. While the main focus of MPSF is stewarding scholarship tax credit gifts, the Catholic Community Foundation offers an opportunity for donors to invest their generosity and see their impact grow over time. The two foundations work hand in hand to advance the philanthropic interests of our donors and the mission of Catholic education.
No, they are not. While there are other tax advantages related to establishing an endowment, these contributions are not eligible for scholarship tax credits.
Gifts of appreciated securities can be eligible for Virginia’s EISTC tax credits. Donors must complete the approval process before making their donation. Visit the scholarship tax credits page for more important information about the donation process if you wish to make a tax-credit eligible stock donation.
Yes! For donors who may not wish to donate through the EISTC program, you can still eliminate capital gains tax on gifts of appreciated securities made through MPSF to a school of your choice. The IRS allows you to deduct the fair market value of the stock or bond as a charitable donation and avoid capital gains tax on the transfer. Stock donation deductions are limited to 30% of the donor’s adjusted gross income (AGI).
No, they are not. While there are other tax advantages related to making a legacy gift, these contributions are not eligible for scholarship tax credits.
While gifts made through the EISTC program must be disbursed as qualified scholarships, gifts made through endowed funds, non-EISTC stock gifts, legacy gifts, and other non-EISTC cash gifts can be used in different ways to support the mission of Catholic education, depending on the intentions of the donor and the needs of the school. For example, these funds can establish scholarships with different criteria than the EISTC program, support innovative educational programming, fund capital improvements, and more. MPSF can help connect donors and schools to discuss giving opportunities.
Contact Us
We are here to help! For questions about the donation process, the impact of your charitable gift, or applying for Catholic school scholarships, contact us today.