There are benefits to making a stock donation or a direct transfer to the church.
If you make a direct transfer from your IRA to Saint Matthew’s, you get to count that money toward your required minimum distribution – but because it’s not actually distributed to you, it won’t increase your adjusted gross income. This option is particularly beneficial if you don’t itemize deductions on your tax return.
Gifts of stock can provide you with DOUBLE TAX BENEFITS. First, you may be able to claim a charitable contribution donation in the amount of the current market value of the stock (original cost plus any increase in value). Second, you avoid paying taxes on the appreciated value of the donated stock.
Please call the parish office and talk with John Riehle if you need help.