Plan Today, Make a Difference Tomorrow

Creating a Giving Plan
Good stewardship calls each of us to develop a plan for sharing the blessings accumulated during our lives. This requires us to consider how we intend to share those blessings and with whom. There are a number of ways that you can include your parish or St. James School in your gift plan.

Click below for the most common methods:

• Stocks
• Bequest Through A Will
• Insurance/Retirement Plan Beneficiary
• Qualified Charitable Donations and the Tax Benefits

Stocks

There may be tax advantages to you in contributing appreciated stock. Stock donation forms are available here:

 Stock Transfer for St. Brigid and St. James 

Below is the Archdiocesan contact if more information is needed:

Melody Denson, Director of Mission Advancement
Phone: (502) 585-3291 x1117
Fax: (502) 585-2466
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. 

Bequest Through a Will

Kristin Kupper
Phone: 502-584-5565, ext. 17

A bequest is a gift made through a will and can consist of:

•  A specific dollar amount
•  A percentage of the value of the estate or the estate’s residue.
• Real estate or personal property.
• Stocks or securities.

 For more information in making a legacy donation to either St. Brigid or St. James, please contact Kristin Kupper.

Insurance/Retirement Plan Beneficiary

Sharon Hollkamp
Phone: 502-584-5565, ext. 10

A parish, school, or the Archdiocese can be designated as the beneficiary of a life insurance policy or retirement plan such as an IRA, 401k, or 403b plan. 

For more information in making a legacy donation to either St. Brigid or St. James, please contact Sharon Hollkamp.

Qualified Charitable Donations and the Tax Benefits

Because the stock market is at an all time high, most retirement accounts have seen an increase in value.  This is a good time to make donations from your IRA to your favorite charities.  Qualified Charitable Donations are a smart and easy way to do this.

There are several rules that govern QCD’s-

You must be 70 ½ years of age at the time of the donation. 

The maximum you can donate per year is $100,000. 

The donation must come from an IRA.  If your retirement funds are with a 401k plan, you would need to transfer the funds to an IRA for distribution. 

The donation must be made to a charity that has been classified as a tax-exempt organization by the IRS. 

The donation is not recognized as income to you for Federal tax purposes.  Likewise, it does not qualify as a charitable contribution deduction.  For example, if you wish to make a $5000 donation, you do not have to take a $6500 distribution in order to have $5000 left after paying income tax.   You will receive a 1099R reporting the amount of the retirement distribution, but the taxable amount will be reported as zero.

This type of donation qualifies as part of your Required Minimum Distribution.  While RMD’s have been suspended for 2020 due to the pandemic, they will most likely be reinstated next year.

To take advantage of this, call the financial advisor who administers your IRA and request a Qualified Charitable Donation be made.  Provide the name and address of the charity and the amount you wish to contribute.  It’s that simple.  A check will be mailed to the charity in your name.