Gifts of cash are the most common form of contribution to the Bernardine Franciscan Sisters. A gift of cash is easy to do, and the gift is not subject to gift or estate taxation. When you name a specific purpose or place to receive the benefit of your donation, we call that a “restricted” gift. Gifts of $1,000 or more are recognized on our Franciscan Tree of Life, which is a beautifully designed recognition sculpture at the entrance to our Chapel in Reading, PA. You may have a message of your choice inscribed on a leaf, a dove or a stone, depending upon the size of your gift. (For more details on our Tree of Life, click on the Franciscan Tree of Life.)

A contribution postmarked in December is deductible for that tax year even if the Development Office receives it in January, provided the account against which the check was written had sufficient funds to cover it in December.

Gifts of cash are fully deductible up to 50% of your adjusted gross income (AGI).  If the cash is large enough to exceed 50% of your AGI in the year of the gift, the remaining amount of the gift may be carried over and used as a deduction for up to 50% of your AGI until the gift amount is exhausted or up to five years, whichever comes first. The gift amount is removed from your estate.

Example: Mrs. Jone’s adjusted gross income is $50,000 this year, and she contributes $30,000 to the Bernardine Franciscan Sisters.  She may deduct $25,000 this year (50%) and carry forward $5,000 to deduct next year.

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