Giving to Msgr. Lafferty Tuition Foundation is beneficial
Editor’s note: The Catholic schools of the Diocese of Sioux City have many students and families who benefit from monies associated with the Monsignor Lafferty Tuition Fund. But where is that money coming from and why do people chose to donate? With this edition, The Catholic Globe examines donors who support our 16 Catholic school systems in their belief: “Giving to MLTF is beneficial.”
Who: Jim Klein, vice president at American Bank, Le Mars; Spalding Catholic graduate; four children who have or are attending Gehlen Catholic; member of the Gehlen Finance committee and St. James Finance committee
How did you find out about MLTF?
I have known about MLTF for several years now. I believe I first heard about it at a finance meeting at Gehlen Catholic several years ago. I have also attended luncheons and meetings hosted by the Gehlen development office where MLTF was explained.
What surprised you about the fund?
It seemed too good to be true, but it really is a way for people to donate to a worthy cause without it costing them much. It is also surprising how easy it is to make a donation and receive the tax credit.
What do you see as the benefits of donating to MLTF that you would encourage others to donate?
The person who makes the donation benefits and the children who need financial assistance benefit greatly, too. I see how much of a tax savings it can be for the people who donate to MLTF. I have seen where farmers who make grain donations are able to realize additional tax savings. I really encourage farmers who haven’t looked closely at the program to talk to their tax advisor or someone they know who is familiar with the program to see how well it can work for them.
As a member of the school finance committee I see how important it is to the school budget. It allows more families to choose a Catholic education that may not have been able to afford the full tuition. With MLTF, not as many dollars need to be taken out of the budget for tuition assistance.
Pictured Jim Klein (seated) and Andy Schmidt, assistant vice president, American Bank, both of Le Mars.