1. Giving
  2. Ways to Give
  3. Gifts of Cash, Stocks, IRA, or Mutual Funds

Gifts of Cash, Stocks, IRA, or Mutual Funds

Individuals often provide gifts of cash, stocks, IRA, or Mutual Funds as an easy way to immediately support the University’s annual fund or other areas that require support. These individual donors receive the benefit of an income tax deduction and can seek to mitigate capital gains taxes. There are no minimum gift for this giving level. We ask that all individuals seek the advice of their tax and investment professionals to further assist them in planning out such gifts.


How to Donate Stock

With the stock market regularly breaking records at the closing bell, many of your investments are likely worth more today than what you originally paid for them.

Time to sell? If you do, you might have to pay capital gains taxes. There’s a better option that provides you with valuable tax incentives as well as the satisfaction of supporting a cause close to your heart: Give your stock to Franciscan Missionaries of Our Lady University.

When you give Franciscan Missionaries of Our Lady University appreciated securities that you’ve owned for more than one year, you will receive two tax benefits:

  1. You are entitled to a federal income tax deduction based on the current fair market value of the securities, regardless of their lower original cost.
  2. You will be exempt from paying capital gains taxes on any increase in value—taxes you would pay if you sold the stock.

Reap the Rewards

To realize full tax benefits from your gift, keep the following IRS guidelines in mind:

· Donate long-term appreciated property. For short-term assets (owned one year or less), only the amount you originally paid is deductible.

· Watch the ceiling. The gift deduction for long-term capital gain property is limited to 30 percent of your adjusted gross income in the year of your gift, but the excess is deductible over the next five years.

How to Make a Gift of Stock

If you have the physical securities:

  • Hand-deliver them to us; or
  • Mail us the stocks and stock power in separate envelopes for your protection.

If you don’t have possession of the physical securities:

  • Instruct your broker to electronically transfer your intended shares; and
  • Ask your broker to notify us once the transfer is complete.

A Tax-Saving Way to Help Franciscan Missionaries of Our Lady University

See Your Generosity in Action

If you are 70½ years old or older, you can take advantage of a simple way to benefit Franciscan Missionaries of Our Lady University and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money.

This law no longer has an expiration date so you are free to make annual gifts to our organization this year and well into the future.

Why Consider This Gift?

  • Your gift will be put to use today, allowing you to see the difference your donation is making.
  • 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.
  • If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.

FAQ

I've already named Franciscan Missionaries of Our Lady University as the beneficiary of my IRA. What are the benefits if I make a gift now instead of after my lifetime?

By making a gift this year of up to $100,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $100,000 or less for the year.

I'm turning age 70½ in a few months. Can I make this gift now?

No. The legislation requires you to reach age 70½ by the date you make the gift.

I have several retirement accounts—some are pensions and some are IRAs. 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, however, 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 Franciscan Missionaries of Our Lady University. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.

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, the IRA charitable rollover gift can satisfy all or part of that requirement. Contact your IRA custodian to complete the gift.

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

No. You can give any amount under this provision, as long as it is $100,000 or less this year. If your IRA is valued at more than $100,000, you can transfer a portion of it to fund a charitable gift.

I have two charities I want to support. Can I give $100,000 from my IRA to each?

No. Under the law, you can give a maximum of $100,000. For example, you can give each organization $50,000 this year or any other combination that totals $100,000 or less. Any amount of more than $100,000 in one year must be reported as taxable income.

My spouse and I would like to give more than $100,000. How can we do that?

If you have a spouse (as defined by the IRS) who is 70½ or older and has an IRA, he or she can also give up to $100,000 from his or her IRA.

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Please note some giving areas require a minimum gift amount.