INSTRUCTIONS FOR CONTRIBUTING STOCK TO ST. JOSEPH CATHOLIC COMMUNITY
Consider giving shares of stock, mutual funds or other investments directly to St. Joseph Catholic Community. Gifting eligible assets this way not only helps the donor avoid paying capital gains tax on the increase of value (gain) of these securities but the donation should still qualify for a full fair market value deduction. Also, per IRS rules, at age 72 you must take a ‘Required Minimum Distribution’ (RMD) out of your retirement accounts. The IRS allows you to gift up to $100,000 of your RMD directly to St. Josephs, to avoid paying ordinary income taxes on the portion of your RMD gifted to St. Josephs.
Under IRS regulations, proceeds from the sale of stock need to be either delivered to the church or postmarked by December 31 in order to be considered a donation for the prior year.
Our registered name is Church of St. Joseph. Our Federal EIN number is 41-6058565.
IF USING A BROKER
Have your broker contact one of our brokers:
Michael Pasqua
952-475-4385
[email protected]
or
Keri Burton
952-475-4393
[email protected]
or Michael’s and Keri’s assistant:
Bethany Ganser
952-475-4371
* You will need to provide a letter to your broker stating that you are gifting the stock to the church.
IF YOU HAVE THE STOCK CERTIFICATE AND YOU ARE NOT USING A BROKER
Please call our Parish Director. We will need the signed certificate and a letter to the church stating that you wish to gift the stock to the church.