List of 2 members.

  • Photo of James Pecchenino

    James Pecchenino 

    President of the Central Catholic Foundation
    (209) 968-1120
  • Photo of Kari Paris

    Kari Paris 

    Foundation Director
    (209) 524-6822
Legal Name:
Central Catholic High School Foundation

Address:
200 South Carpenter Road, Modesto, CA 95351

Federal Tax ID Number:
94-1627418
The CCHS Foundation Legacy Society
Smart Ways to Give

IRA Charitable Rollover

Make a Gift Tax-Free With an IRA

Make a difference today and save on taxes. It’s possible when you support Central Catholic High School Foundation through your IRA.

A Special Opportunity for Those 70½ Years Old and Older
You can give any amount (up to a maximum of $108,000) per year from your IRA directly to a qualified charity such as Central Catholic High School Foundation without having to pay income taxes on the money. Gifts of any value $108,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at Central Catholic High School Foundation. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.


Why Consider This Gift?

  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD).
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
  • Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.

List of 10 frequently asked questions.

    • Can my gift be used as my required minimum distribution under the law?

      • Yes, absolutely. If you have not yet taken your required minimum distribution this year, the IRA charitable rollover gift can satisfy all or part of that requirement.  It’s always smart to consult your tax professional if you are thinking about a charitable contribution under this law. Contact your IRA custodian to arrange the gift.

    • I have several retirement accounts - some pension and some IRA’s.  Does it matter which retirement account I use?

    • Yes, direct rollovers to a qualified charity can be made only from an IRA.  Under certain circumstances you may be able to roll assets from a pension, profit sharing, 401(K) OR 403(B) Plan into an IRA and then make the transfer from the IRA directly to the Central Catholic High School Foundation. To find out if a rollover to an IRA is an option for your plan, talk with your plan administrator.

    • I’m turning 70 ½ in a few months.  Can I make this gift now?

    • No. Legislation requires you to reach age 70 ½ by the date you make the gift.

    • How do I qualify for the Central Catholic High School Legacy Society?

    • Membership in the CCHS Foundation Legacy Society is extended on a confidential basis to Central Catholic High School alumni and friends who have arranged a deferred gift—for example, through a bequest or trust, or who are planning to do so for CCHS (regardless of the size of the gift). There is no other requirement or obligation.

    • I’ve already named Central Catholic as the/a beneficiary of my IRA.  What are the benefits if I make a gift now?

    • By making the gift now you get to see your philanthropic dollars at work.  You’ll get a head-start on the legacy you would like to leave and give yourself the pleasure of seeing your legacy take shape.  You can also fulfill any outstanding pledge you may have made by transferring that amount from your IRA.

    • Do I need to give my entire IRA to be eligible for the tax benefits?

    • No. You can give any amount under this law, as long as it is $100,000 or less within the year you donate. If your IRA is more than $100,000, you can transfer just a portion of it to fund charitable gifts.

    • Can my gift plans remain anonymous?

    • CCHS’s Foundation is dedicated to preserving the confidentiality of our donors' gift plans. Your name will only be used in honor rolls as a member of the CCHS Foundation Legacy Society with your permission.

    • What is the connection between the CCHS Foundation Legacy Society and other CCHS Foundation giving societies?

    • The CCHS Foundation Legacy Society recognizes the method of giving, not the size of gift. It is possible to be a member of the CCHS Foundation Legacy Society and also arrange an outright or deferred gift in an amount appropriate to qualify for other giving recognition levels

    • What if I change my plans?

    • CCHS Foundation acknowledges that any revocable gift plan may change in the future. The CCHS Foundation Legacy Society provides recognition for your current intention to support the mission of CCHS.

    • Do I need to share my estate planning documents with the CCHS Foundation?

    • It's not necessary to do so, but it can be helpful. For example, all estate planning documents should use Central Catholic High School Foundation full, legal title to ensure that your eventual gift will come through the CCHS Foundation preferred channel for private support and will be used according to your wishes. 

    • Because wills, trusts, and other documents are legally binding, the purpose must be clearly stated, or the document could create a gift that does not follow your intentions or support the school’s mission. Sharing your plans with CCHS’s Foundation will enable us to use your gift in a manner that is most aligned with your interests and values.

    • You may wish to share a copy of only a portion of your estate planning document, or you may describe your gift on the CCHS Foundation Legacy Society enrollment form. CCHS’s Foundation staff is available to consult with you and your professional advisor. Our goal is to ensure that your estate document uses the correct legal title of Central Catholic High School Foundation and that we understand and will be able to carry out your wishes.
For Those 59½ Years Old or Older

If you’re at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.

At Any Age

No matter your age, you can designate Central Catholic High School Foundation as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. It’s simple, just requiring that you contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.

Tip: It’s critical to let us know of your gift because many popular retirement plan administrators assume no obligation to notify a charity of your designation. The administrator also will not monitor whether your gift designations are followed. We would love to talk to you about your intentions to ensure that they are followed. We would also like to thank you for your generosity.

Next Steps

  • Contact Jim Pecchenino, '72 at (209) 968-1120 or pecchenino@cchsca.org to discuss using your IRA to support Central Catholic High School Foundation and our mission.
  • Seek the advice of your financial or legal advisor.
  • To include Central Catholic High School Foundation in your plans, please use our legal name and federal tax ID. Please let us know of your gift (many retirement providers assume no responsibility for letting nonprofits know of your intentions so your goals won’t be honored).

About Central Catholic

Faithful to our Catholic Tradition, our mission is to witness to the Gospel while building an educational community that inspires the spiritual, academic and social development of young adults.


Central Catholic Students Are:
Academically-Prepared
Spiritually-Developed
Socially-Responsible
Globally-Conscious 

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