Additional Ways Support Your Church
St. Stephen Legacy Circle
Have you remembered St. Stephen the Martyr Catholic Church in your estate plans? When you include St. Stephen in your charitable estate plans, you leave a legacy of love and faith that provides financial support after your lifetime. Your planned gift today can make a big difference for our parish tomorrow!
Does Your Employer Match Gifts? Many area employers will match charitable contributions made by their employees and retirees, sometimes even on a one-to-one basis. We encourage you to check with your employer to see if you are eligible for a matching gifts program. Please note many employers will match gifts to schools, but not parishes or religious organizations. St. Stephen the Martyr Catholic School is an eligible entity.
Gifts of Appreciated Stock
There are many advantages to donating stocks and mutual funds as a method of giving to St. Stephen. If you have owned publicly traded or closely-held stocks for “more than one year,” they are considered appreciated assets and can be transferred directly to the church. In return, you as the donor receive an income tax deduction for the current fair market value of the stock regardless of what you originally paid for it. In addition, you avoid paying capital gains tax on the gift.
The maximum deduction you may take within a given tax year is 30 percent of your adjusted gross income and if you are unable to take the entire deduction in one year, you may carry the excess deduction forward for five additional years.
To complete the transfer of a gift of stock to St. Stephen the Martyr Catholic Church, the stock must be transferred (not sold) to St. Stephen's brokerage account. To ensure proper posting and crediting of the stock transfer gift, it is very important for donors to contact the church at (402) 896-9675 in advance.
Giving Through Your IRA
The IRA Charitable Transfer is an excellent way to make gifts to St. Stephen. By transferring your donation directly from your IRA you can avoid being taxed on your required withdrawal. Annual withdrawals from traditional retirement accounts are required after age 70 1/2, and the penalty for skipping a required minimum distribution is 50 percent of the amount that should have been withdrawn. Most importantly, by donating through your IRA you avoid the income tax penalty on your distributions.