— Tax-Smart Giving Methods —

Stocks, Bonds or Mutual Funds

Transferring stocks and mutual funds offers additional tax savings.  You avoid capital gains taxes and receive a tax deduction. In accordance with IRS guidelines, St. Martin’s is not qualified to provide you with a specific value for non-cash contributions.  Therefore, your annual giving statement will not reflect a value for this gift.  Instead it will reflect only a description of your donation.  We suggest you contact your tax adviser for further information.

Qualified Charitable Distributions and IRA Distributions

A qualified charitable distribution (QCD) is generally a nontaxable distribution made directly by the trustee of your IRA (other than a SEP or SIMPLE IRA) to an organization eligible to receive tax deductible contributions. You must be at least age 70½ when the distribution was made. Also, you must have the same type of acknowledgment of your contribution that you would need to claim a deduction for charitable contribution. See Records To Keep in IRS Pub. 526.

The maximum annual exclusion for QCDs is $100,000. Any QCD in excess of the $100,000 exclusion limit is included in income as any other distribution. If you file a joint return, your spouse can also have a QCD and exclude up to $100,000. The amount of the QCD is limited to the amount of the distribution that would otherwise be included in income. If your IRA includes nondeductible contributions, the distribution is first considered to be paid out of otherwise taxable income. Please consult your tax professional concerning any questions.

St. Michael’s Tax ID Number: .

Gifts of Appreciated Securities

When transferring a gift of appreciated securities to St. Michael’s, please send it directly to one of the Church’s available accounts. When you are ready to send, please call Lisa Killough, our Finance Commission chair, at 512-327-1474. She will give you instructions and will monitor the transaction's progress. She will also ask you to send the Church a letter of transmittal that will confirm your gift and will provide information where it should be used: operating fund, capital fund, endowment, etc. Please state in this letter the name of the appreciated securities and the number of shares to be transferred. The date that the stock is received in the Church’s account is the date of the gift. We will sell the stock immediately.