Matching Grant deadline nears, gifts will benefit local seminarians

Gifts in the range of $1,000 to $5,000 per individual will qualify for the match. The purpose of this guideline by CES was to obtain many donors to this effort vs. just a few major gift donors.
 
IMPACT OF YOUR GIFT
Each gift of $1,000 to $5000 gift will be matched 50 percent. So a $1,000 gift actually means a $1,500 gift. This match increases the impact of your gift. Now let’s consider an impact of your gift if you are able to extend a $5,000 gift. Here’s the impact:
 
·  Your gift increases from $5,000 to $7,500 with the matching grant!
·  Your gift receives a federal  tax deduction
    Example:  If you are in a 25 percent tax bracket, your estimated tax savings is $1,250.
·  Your gift receives a 40 percent N.D. Tax Credit of $2,000 as it is directed to a qualified N.D. endowment
    (Minimum gift to obtain the N.D. Tax Credit is $5,000)
·  Cost of your gift of $5,000:
    $5,000
    -$1,250 federal tax deduction at a 25 percent tax bracket
    -$2,000 N.D. Tax Credit
    $1,750 Net cost
·  Bottom Line: With a net cost of your gift of only $1,750, you make a $7,500 impact!
 
The most important impact will be the support you are extending to those seminarians in their first four years of study. All funds from this challenge will be directed to the newly formed scholarship endowment fund for minor seminarians. Previously there was no endowment established for these seminarians and other financial resources were limited. This will have an immediate impact on our current and future seminarians.
 
For more information, please contact Mike Kiedrowski, the Executive Director of the Catholic Foundation for the People of the Diocese of Bismarck at 701-204-7201 or toll free at 877-405-7435. To donate online, click  here and select Seminarian Scholarship Fund.