Securities & Assets - St. Bernard's

Securities & Assets

Gifts of stocks, securities, retirement accounts, and other assets can make an impact on St. Bernard’s both during and after your lifetime. We encourage you to consult with your legal and financial advisor to choose a gift that works best for you and your interests. It is important that you inform us of any gifts, now or set for the future, so that we can ensure proper usage and stewardship of your gift!

Wire Transfer

To make a wire transfer to St. Bernard’s we will need the following information:

Name of Donor (as you would like it acknowledged)

Gift Amount

Designation of Gift

Contact Phone Number

This information can be sent via email or phone to the Director of Development. They can also provide you with the account number for the wire transfer.

Outright Gift of Appreciated Securities

Making a gift of securities or mutual funds to St. Bernard’s offers you the chance to support our work while securing tax benefits for yourself

When you transfer appreciated securities or mutual funds you have held for more than one year to us, you can reduce capital gains taxes and may also qualify for charitable tax deductions (based on the fair market value of the securities at the time of the transfer). Securities can be gifted outright or in a transfer on death (TOD) account. An outright gift allows you to donate securities to St. Bernard’s- 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 Placing a TOD designation on your investment account ensures that the account will be paid over to St. Bernard’s after your lifetime.

Securities can also be gifted in your will or used to fund an endowed gift, charitable gift annuity, charitable remainder trust, or charitable lead trust.

IRA and Retirement Plan Giving

Giving through your IRA, known as a qualified charitable distribution (QCD), is a great way to provide for St. Bernard’s and also save on your taxes. After age 70.5, you can give up to a maximum of $100,000 per year from your IRA directly to St. Bernard’s or other charities; and you pay no taxes on the gift. After you turn 72, any gifts from your IRA can also satisfy some or all of your RMD (required minimum deduction). Additionally, the gift can reduce your annual income level. You can also name St. Bernard’s as the beneficiary of your IRA, however, if you give from your IRA during your lifetime, St. Bernard’s can immediately start using the money, allowing you to see the impact of your gift at work.

Those between the ages of 59.5 and 70.5 may want to consider taking a distribution and then making a gift from your IRA, which can be itemized in your tax deductions. Those of any age can name St. Bernard’s as the beneficiary of any percentage of your IRA.

IRAs are the only type of retirement plans that allow direct gifts to a qualified charity. However, if you have other types of plans such as a pension, thrift savings plan (TSP), 401(k), or 403(b), you may be able to make a transfer from this plan into an IRA and then make the transfer from the IRA directly to St. Bernard’s. Your plan administrator will be able to discuss this option with you.

Gift of Life Insurance

Life insurance policies are usually established to serve a purpose- such as educating your children or providing financial security for a spouse. Once that purpose has been served, the life insurance policy can become a unique way to support St. Bernard’s.

You can name us as a primary or contingent beneficiary of the policy, either for a percentage or a specific dollar amount. This can be done by updating the beneficiary form through you insurance policy holder.

You can name us as the owner of an existing policy. You will qualify for an income tax deduction both when you gift the policy and also in any year when you pay premiums on the policy.

You can name us the owner of a new policy. When you take out a new policy, you can name St. Bernard’s as the owner and beneficiary of this policy. Any further payment you make to the policy will be tax deductible.

Gift of Property

Gifting real estate, such as a personal or vacation home, commercial property, or land provides a valuable asset to St. Bernard’s that will last for years. It also prevents you from having to dip into your cash assets, minimizes capital gains taxes, qualifies as a charitable deduction, and allows you to avoid having to sell the real estate, as the deed can be transferred directly to St. Bernard’s now or through your will.

Valuable property, such as antiques, collections, artwork, cars, and other personal property have the potential to offer you tax benefits, depending on the use of the gift. Gifts of property can also be a special way to make a memorial or tribute to a loved one.

Next Steps

Seek the advice of your financial/legal advisor and contact the Director of Development- we look forward to hearing from you!

Legal Name: St. Bernard’s School of Theology and Ministry

Federal Tax ID Number: 16-07431490928

Address: 120 French Road Rochester, NY 14618