Ways to leave assets to St. Joseph Catholic School
Outright Gift of Appreciated Securities
Receive a Tax Deduction for Using These as Gifts
Securities and mutual funds that have increased in value and been held for more than one year are one of the most popular assets to use when making a gift to SJCS. Making a gift of securities or mutual funds to us offers you the chance to support our work while realizing important benefits for yourself.
When you donate appreciated securities or mutual funds you have held more than one year to us in support of our mission, you can reduce or even eliminate federal capital gains taxes on the transfer. You may also be entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.
Securities are most often used to support our work in the form of:
An outright gift. When you donate securities to SJCS, you receive the same income tax savings that you would if you wrote us a check, but with the added benefit of eliminating capital gains taxes on the transfer, which can be as high as 20 percent.
A transfer on death (TOD) account.* By placing a TOD designation on your brokerage or investment account, that account will be paid over to one or more persons or charities after your lifetime.
Donating Real Estate
One of the advantages to the donor is that the size of the tax deduction is determined by the current market value of the property, as opposed to the cost of the property when it was purchased (Moreover, by donating a property instead of selling it outright, donors may avoid paying brokers' fees.)
In many cases, if one takes into consideration ongoing property taxes, maintenance costs, income taxes--or if the property is sold, the cost of legal fees, brokerage fees, estate taxes, inheritance taxes and capital gains taxes--it is often financially preferable to donate properties to charities. It also saves heirs the trouble of trying to divvy up the gains if the will is potentially contentious or inequitable. Sometimes there are intangible benefits as well.
Real Estate donations can provide you with highly beneficial tax results and allow you to achieve significant and important charitable goals that benefit those in need.
A donation of real estate to St. Joseph Catholic School can reduce your tax burden and provide you with the benefit of savings that comes from the relief of the maintenance of your property. You can also avoid capital gains tax on highly appreciated properties with your charitable donation of real estate.