For many people, the end of the year is a time for making gifts – not only to family and friends but also to valued organizations such as St. Mark’s December is also your last chance to obtain charitable deductions you can claim next April!
As you plan your year-end giving, keep in mind that contributing cash is just one way to support St. Mark’s. Consider as well the following tax-smart techniques.

Give appreciated securities

Recent years have generally been good ones for stocks in particular. Although many people have seen their investments grow significantly, selling appreciated shares triggers taxation that can exceed 20 percent of the capital gain. By transferring them instead directly to St. Mark’s you avoid tax on the gain and receive a tax deduction for the full value of the stock. Thus, the value of your gift to us may far exceed its net cost to you.

Note: If you want to provide support for St. Mark’s using securities worth less than you paid for them, you should sell them and contribute some or all of the cash proceeds. You can then use the loss on the sale to offset other income.

Help St. Mark’s — and yourself

You may hesitate to give an asset you depend on for income. Through a “life income gift” such as a charitable remainder trust, you can donate the asset and still receive payments, perhaps even increasing your cash flow. In return, you’ll obtain a current tax deduction. In addition, if you give appreciated property, you’ll reduce or delay capital gains taxation. And when the arrangement terminates, what remains from your gift benefits St. Mark’s.

Consider an “Charitable Rollover” Gift from Your IRA

If you are over age 70½ and have a traditional IRA, you can authorize the administrator to make a direct transfer of funds to St. Mark’s. While you will not receive a tax deduction, any amount transferred (up to a total of $100,000) will not be added to your taxable income, as it would if you made a withdrawal. The gift amount can even count against your required minimum distribution, to the extent you have not already taken it for this year.

Start planning now

As always, your own advisors are in the best position to help you determine what would be most appropriate, whether now or in the new year. Remember, too: St. Mark’s is available to work with you and your advisors at no cost whenever there may be a need to explore options or gather additional information.