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December 23, 2020As the calendar year nears its end, please fulfill your 2020 stewardship commitment to Nativity of Our Lord and/or consider a special year-end gift.
It is a great time to make gifts of appreciated stock!
If you would like to give the gift of stock or IRA distributions, please call Parish Business Administrator Laura Barr at (651) 696-5423, or Joyce Kotta, parish accounting, at (651) 696-5436 for assistance.
Simple, Smart Giving: Consider these ideas to help support our parish
Here are three other strategic — yet simple — ways to give to our parish:- From your IRA: Required Minimum Distributions (RMDs) are not required in 2020 due to the CARES Act (***this is a correction from the 12/27/2020 parish bulletin and an earlier post here***) but you can still make charitable distributions from your IRA and — due to COVID — charities need help now more than ever.
- Those aged 70.5 or older you can ask their IRA administrator to send up to $100,000 per year from their IRA to the charities of their choice.
- Those between the ages of 59.5-70.5 can take distributions from their IRA and make charitable contributions which are tax-deductible. (Confirm with your tax advisor for your own situation).
- Appreciated securities can be one of the quickest and most tax-efficient charitable gifts and, because of very favorable markets, many people own stocks that have large, imbedded tax liability. This is a very timely gifting strategy.
- The donor receives a deduction equal to the fair market value of the stock.
- The appreciation is not taxed to the donor, nor the charity.
- It’s easy for the parish to accept and quickly liquidate.
- Donor advised funds (DAF) are flexible and agile, allowing donors to receive a tax deduction in the year of gifting, then distribute gifts in subsequent years.
- Although stocks are the most common asset contributed, donors can contribute many different forms of assets to a DAF.
- The DAF liquidates the asset tax-free, making liquid cash available to grant to virtually any charity of the donor’s choice.
Deadlines for Gifting
The last regular Sunday offertory collection of the year will be December 26-27, 2020. To take advantage of a tax deduction for your 2020 contributions, all financial contributions must be received by the parish office or, if mailed, postmarked on or before December 31, 2020. Anything received (or postmarked) after December 31, 2020 will be recorded as a 2021 donation.
Contact Us
If you would like help with any form of donations, or would simply like more information on how to help Nativity of Our Lord financially, please call Parish Business Administrator Laura Barr at (651) 696-5423, or Joyce Kotta, parish accounting, at (651) 696-5436 for assistance.
Remember, it is only with the help of generous individuals and families that our parish can continue our Catholic ministries and charitable works here and beyond.
Thank you for your generosity! - From your IRA: Required Minimum Distributions (RMDs) are not required in 2020 due to the CARES Act (***this is a correction from the 12/27/2020 parish bulletin and an earlier post here***) but you can still make charitable distributions from your IRA and — due to COVID — charities need help now more than ever.