Diocese of San Diego and Imperial County
Stock Donations and IRA Required Minimum Distributions Reminder

Stock Donations Reminder:

A gift of your securities, including stocks or mutual funds, is an easy way to make a gift. By making a gift of your appreciated securities, you can avoid paying capital gains tax that would otherwise be due if you sold these assets. Contributions are deductible for tax purposes. There are no transaction fees or other costs and the full value of the sold securities benefits the parish, school or other Catholic charity you select.

More importantly, the question you may want to consider is this: Have I been blessed with many gifts and am I inspired by Gospel teaching and my Catholic values that charitable giving is a profound and joy- inspiring expression of love and gratitude? How can I live out my Catholic values and put them into action for the greater good of the community? Your stock contribution will help you live out your Catholic values and benefit your parish or school at the same time.

For more information on making a gift please visit our diocesan website at www.sdcatholic.org and click on Giving – Stock Donations at the top of the website. Or, you may contact the Office for Stewardship, Manny Aguilar, at 858-490-8294 or call Daniel Pritchard at Merrill Lynch, the Diocese’s broker, at 760- 930-3122.

IRA Required Minimum Distributions Reminder:

As scripture reads, “Jesus said, Give and it will be given to you…For the measure you give will be in turn, the measure that you get back.” After years of contributing to tax-deferred IRAs and 401(k)s, income tax is due on that money when a person withdraws it in retirement. Annual withdraws from traditional retirement accounts are required after age 70 ½. But, IRA owners that are 70 ½ or older may make charitable contributions of up to $100,000 per year directly to an eligible charity (e.g., Catholic Parish, School, Foundation, etc.) without paying income tax on the transaction. If you file a joint return, your spouse may also make a charitable contribution of up to $100,000, meaning couples can exclude up to

$200,000 of their retirement savings from income tax if they donate it to a charity. Qualified charitable contributions must be made by December 31st each year in order to exclude that amount from income.

Charitable contributions can only be made from IRAs, not 401(k)s or similar types of retirement accounts. Donors might need to roll funds over from a 401(k) to an IRA if they want to make tax-free charitable contributions part of their retirement plan. A donor doesn’t need to itemize their taxes in order to make an IRA charitable distribution. Donors should consult with their personal tax advisors on the donations and the tax implications. Donors may make these donations directly to the parish, school or ministry of their choice or they may make it through the Diocese of San Diego at no additional cost. Please contact Manny Aguilar. Director, Office for Stewardship at maguilar@sdcatholic.org or at (619) 672-5872.