Gifts other than cash
- Transferring ownership of an appreciated investment property held for more than one year such as publicly traded stocks, mutual funds, bonds, real estate, collectibles and other such readily marketable property can have tremendous tax advantages
- Personal property such as automobiles, jewelry and other items can also be given.

Why give gifts other than cash?
- The tax code is very generous toward this form of giving. Giving the asset to St. John’s, then letting St. John’s sell it eliminates potential for capital gains taxes for you and can increase the after-tax proceeds for St. John’s.

How does the tax benefit work?
- Itemized deduction | The individual or business can include 100% of the market value of most such assets as charitable contributions for tax purposes if held for more than one year
- Capital gains | The transfer of property does not generate a capital gains tax for you
- St. John’s, as a tax-exempt entity, will realize the full market value, less transaction costs at the time of sale, without paying a capital gains tax.

What if I sell first then give the cash?

You may be subject to capital gains taxes, thereby reducing the after-tax proceeds:

                                     Sell First              Transfer to St. John’s

Market Value                $20,000                $20,000
Cost Basis                    -$10,000               -$10,000
Gain                              $10,000                $10,000
Tax (Assuming 20%)      $2,000                         $0
St. John’s Receives .      $18,000                $20,000

How do I give gifts other than cash?
For stocks, bonds and mutual fund shares:
1. First, contact the Parish Administrator at 248-546-1255 to obtain referral guidance and transfer instructions
2. When you have completed the transfer, please notify the Parish Administrator so we can ensure proper credit to St. John’s.
For other non-cash gifts or If you have specific or confidential questions, you can contact Beth Taylor at 248-546-1255.

Special tax-free IRA gifts
For those aged 70 ½ or older, it is possible to make tax favored charitable gifts from traditional and ROTH IRA accounts. A total of up to $100,000 can be transferred directly from the IRA to St. John’s free from federal income tax. There may also be some state tax savings. Amounts given in this way count toward required minimum IRA minimum withdrawal amounts for the year of the gift. For such gifts, it’s important not to withdraw funds prior to the gift, but to have the gift amount distributed directly from the IRA to St. John’s.

Note: This information is not intended as legal or tax advice. Please consult you planning professional for advice specific to your circumstances