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:
- 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.
- 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.