Catholic Charities of the Diocese of Sioux City at 1601 Military Road, Sioux City, IA 51103 US - Catholic Charities' E-Line
Catholic Charities' E-Line
Catholic Charities’ E-Line – August 20, 2007
Stewardship
What does the Catholic Church say about financial stewardship? The word tithe is Greek for “tenth”. For many years the Church has encouraged its members to abide by this Biblical concept - giving 5% to the parish and 5% to other charities.
Philanthropy
Gifts of C Corporations -- Charitable Bailouts
The majority of family businesses are sold when the founders retire. However, perhaps one-third of the time children or other heirs will be capable of taking over the business. In this circumstance, the parents typically have three goals. First, they desire to have a secure source of retirement income. Second, there is the desire to transfer the business to children. However, in most circumstances, some children will be operating the business and other children will be pursuing independent lives and careers. For most small businesses, the children operating the business will need to have both control and ownership to assure the long-term success of that business. Thus, goal number two is to achieve transfer of the business to children, generally with zero gift or estate taxation. Third, there are usually other children who will not be involved in the business. Since children view an inheritance from the parents as a representation of the love of the parents, it is desirable for there to be at least general equivalence to the overall inheritance. Therefore, the third goal is to acquire resources appropriate to provide a substantial inheritance for children who are not involved in the business.
Please click here to view the full Article of the Month. Source: Crescendo
Quote
"Life, like a mirror, never gives back more than we put into it." Anonymous
Chuckle:
God looks down and notices that Adam is all alone while all the animals have companions, so he decides to create a companion for man as well. He comes to see Adam and says to him, "Adam, you are my greatest creation and therefore, I am going to create for you the ultimate companion. She will worship the very ground you walk on, she will long for you and no other, she will be highly intelligent, she will wait on you hand and foot and obey your every command, she will be beautiful, and all it will cost you is an arm and a leg." Thinking for a few moments, Adam replies, "What could I get for a rib?"
Thanks for all you do!
Catholic Charities of the Diocese of Sioux City – Federal ID: 42-0681062
1601 Military Road, Sioux City, Iowa 51103; Phone 712-252-4547; e-mail: cathcharsteve@cableone.net
Offices in Algona, Carroll, Fort Dodge, Storm Lake and Sioux City
Seek counsel from your professional advisor on financial matters.
Remember Catholic Charities in your will.