St. Paul Capital Campaign

Normally, a distribution from your IRA is taxed as ordinary income, but a special IRS provision allows those who are 70½ or older, to make a direct gift from your IRA to any qualifying charity, federal tax free. Your gift counts toward your required minimum distribution (RMD). You can make a gift in any amount up to $100,000 per year without paying federal income tax on the distribution.

This is an especially smart way to give to charity if you take the standard deduction rather than itemizing deductions, since gifts made this way can reduce your adjusted gross income (AGI) this can also reduce taxes on your Social Security benefits. Consult your tax advisor, financial advisor or IRA custodian about your unique situation and how to set up a current gift.

Generally your financial provider will want the following information:

Tax ID Number: 48-0692555

Address:

St. Paul Catholic Church
21650 W. 115th Ter.
Olathe, KS 66061

Please also instruct them to write on the memo of the check a note that says "Capital Campaign". Alternatively, they can address the check to "St. Paul Capital Campaign".

For more information about how you and the Church can benefit from an IRA charitable rollover, contact Amy Moritz at amoritz@spcatholic.org or 913.764.0323 x107.

These helpful tips are only for your information on this change in the IRA tax law and are not to be considered as legal, tax or financial advice. You should consult with your legal, tax and financial advisors to implement the benefits of the IRA charitable rollover law and related matters.

When you make a charitable gift of cash, you get an income tax charitable deduction only. When you make a charitable gift of the same value with appreciated stock, you get the same income tax charitable deduction and you avoid capital gains tax on all of your capital gain. The more highly appreciated your security, the more capital gains tax you will avoid.

Helpful tip: If you still want to own the shares you are donating you can use the cash you were going to donate to repurchase the same number of shares. Now your new basis will be the higher purchase price without the embedded taxable gain.

Appreciated Stock

With stock that has appreciated in value, the donor must give the stock directly to the charity to realize these benefits. If the donor sells the stock and subsequently gives the proceeds to the charity, he or she will be responsible for paying a capital gains tax on the profit.

Depreciated Stock

With stock that has depreciated in value (i.e., stock whose value is less than its original cost to the donor), the optimal charitable gift process is reversed. The donor should sell the stock first and then donate the proceeds. This way, the donor can derive the income tax benefit of the capital loss.

The actual donation process is usually quite simple: The donor instructs his or her own investment advisor or broker to transfer the desired shares of stock to the Archdiocesan brokerage account and designates the particular Archdiocesan parish, school or agency that is to be the beneficiary of the gift. The Archdiocese will provide the donor or the donor’s advisor with the relevant information concerning its brokerage account. Upon receipt of the stock, the Archdiocese will credit the gift to the account of the Archdiocesan beneficiary.

For more information about giving stock, contact Amy Moritz at amoritz@spcatholic.org or 913.764.0323 x107.

Many area employers (or their charitable foundations) match gifts made by their employees to charitable organizations. These companies match payments (not pledges).

Steps to set up a Matching Donation:

1. Inquire in the personnel department of your employer regarding the availability of matching funds for St. Paul. Please note that some Matching Programs disallow donating to a Religious Organization.

2. Obtain a matching gift form from your company. Follow the directions on the form to request the matching gift. For some, you should send the form with the donation to St. Paul. For others, they will request a giving statement after the gift is received.

If you have questions about the Matching Gift process, please contact Amy Moritz at amoritz@spcatholic.org or 913.764.0323 x107.