Securities & Retirement Accounts for Giving
Gifts of Securities
Gifts of securities — shares of stock or a mutual fund, bonds, etc. — are often overlooked in helping support our sisters. It’s unfortunate, because the advantages of making a gift in this way are substantial.
Suppose you purchased stock in XYZ Corporation many years ago. Its value has fluctuated over the years, but it’s now valued at three times what you paid for it.
If you were to donate those shares, you’d be allowed a charitable deduction for the full fair market value of that stock. In this case, you also avoid the capital gains tax which you would have paid had you sold the stock yourself. This provision in the tax code allows you to make a significant gift to the sisters at a nominal cost.
Keep in mind that if your stock has depreciated in value, it most likely makes more sense for you to sell the stock on your own. Doing so will allow you to claim a capital loss on your tax return. You can then take the proceeds of the sale and send the cash along.
The brokerage account for the Sisters of St. Benedict of Ferdinand, Indiana, Inc. is held at Charles Schwab & Co, Inc.
If you hold the stock certificate, please call our office for details on how to make a gift in this way.
Gifts from a Retirement Account / QCDs
IRA owners age 70½ or over can transfer up to $108,000 to the Sisters without reporting that gift as income. Known as qualified charitable distributions or QCDs, these transfers are an easy way to support the Sisters. And if you’re at least 73 years old, QCDs count toward your required minimum distribution (RMD) for the year.
Normally, distributions from a traditional IRA are taxable when you receive them. But with a QCD, they’re tax-free as long as they’re paid directly from the IRA to an eligible charitable organization like the Sisters of St. Benedict.
QCDs must be made directly to the Sisters by the custodian of your IRA. (Any IRA distribution made directly to you as the IRA owner cannot count as a QCD.) If you’re age 70½ or over when the distribution is made, you can exclude from gross income up to $111,000 per person for 2026 of these QCDs every year. For a married couple who are both age 70½ or over and have IRAs, each spouse can exclude up to $111,000 for a total of up to $222,000.
And remember, you can always make the Sisters a beneficiary of your IRA, so that any balance remaining when you pass goes to support our work and ministries. For other charitable gift opportunities, visit our Planned Giving or Legacy Giving page.
For more information or to get started, please contact Lydia Bolton at 812-367-1411, ext. 2678 or at lbolton@thedome.org.
The above information is not intended as specific legal advice. Consult your attorney when considering any legal matter. State laws which govern wills and contracts vary and are subject to change. The Sisters of St. Benedict of Ferdinand, Indiana is an exempt organization as described in Section 501(c)(3) of the Internal Revenue Code, EIN 35-0953517.