Planned Giving at St. John’s
Wills and Trusts
You can make a gift (bequest) to St. John’s through your will or living trust in a number of ways:
Appreciated Stock or Mutual Funds
Using appreciated stock or mutual funds can be a tax-wise way to fund your gift to St. John’s. Gifts of appreciated securities held longer than one year are exempt from capital gains taxes and entitle the donor to a tax deduction equal to the fair market value of the donated securities at the time of transfer. To avoid exposure to capital gains tax, the stock must be transferred to St. John's. We then sell the stock from our account.
Qualified Charitable Distribution (QCD)
A QCD is a tax break for anyone 70 ½ or over. It allows the donor to transfer money, tax-free from an IRA to St. John’s. By making charitable donations from an IRA the donor is reducing their future tax burden (in most cases distributions from an IRA are considered taxable income). Maximum annual QCD limit is $100,000.
Retirement Plan Assets
You can designate St. John’s as a beneficiary of part or all the remainder of your IRA or retirement plan. By naming St. John’s as the beneficiary of the remainder of your retirement plan or IRA, 100 percent of the plan’s balance is available for St. John's use, since the distribution avoids both income and estate taxes. To make this gift, notify your plan’s administrator and complete a “change of beneficiary” form.
Life Insurance
If you have more life insurance coverage than you need, you may consider giving St. John's a paid-up policy. By transferring the ownership of your policy to St. John's, you may receive a charitable income tax deduction equal to the policy’s cash surrender value or cost basis, whichever is less.
Please contact Karen Medford at 510-593-4835 if you have questions. Please consult with your attorney or accountant about the potential tax advantages and implications of planned gift options.
Wills and Trusts
You can make a gift (bequest) to St. John’s through your will or living trust in a number of ways:
- Specify a percentage of your total estate to go to St. John's. In this approach, your gift adjusts with changes in the size of your estate over time before your death.
- Specify the residue, or a percentage of the residue, of your estate to go to St. John's after your specific gifts to loved ones have been made. With this approach, your gift also adjusts with changes in the size of your estate over time before your death.
- Specify a gift of a specific amount. You specify a dollar amount to be given to St. John's. With this type of gift, it is especially important to keep your will or trust up-to-date.
Appreciated Stock or Mutual Funds
Using appreciated stock or mutual funds can be a tax-wise way to fund your gift to St. John’s. Gifts of appreciated securities held longer than one year are exempt from capital gains taxes and entitle the donor to a tax deduction equal to the fair market value of the donated securities at the time of transfer. To avoid exposure to capital gains tax, the stock must be transferred to St. John's. We then sell the stock from our account.
Qualified Charitable Distribution (QCD)
A QCD is a tax break for anyone 70 ½ or over. It allows the donor to transfer money, tax-free from an IRA to St. John’s. By making charitable donations from an IRA the donor is reducing their future tax burden (in most cases distributions from an IRA are considered taxable income). Maximum annual QCD limit is $100,000.
Retirement Plan Assets
You can designate St. John’s as a beneficiary of part or all the remainder of your IRA or retirement plan. By naming St. John’s as the beneficiary of the remainder of your retirement plan or IRA, 100 percent of the plan’s balance is available for St. John's use, since the distribution avoids both income and estate taxes. To make this gift, notify your plan’s administrator and complete a “change of beneficiary” form.
Life Insurance
If you have more life insurance coverage than you need, you may consider giving St. John's a paid-up policy. By transferring the ownership of your policy to St. John's, you may receive a charitable income tax deduction equal to the policy’s cash surrender value or cost basis, whichever is less.
Please contact Karen Medford at 510-593-4835 if you have questions. Please consult with your attorney or accountant about the potential tax advantages and implications of planned gift options.