Smart Strategies for Year-End Giving

Our guide to year-end giving shines light on diverse ways to maximize your gift this holiday season!

As 2024 draws to a close, it’s the perfect time to reflect on the incredible impact of your generosity. Every thoughtful gift has the power to shape futures, inspire greatness, and create a lasting legacy of education and empowerment for our Edsmen.

GIVE ONLINE

Give Smart With a Gift of Stock

Appreciated Stock: Amplify your impact while maximizing tax savings by donating appreciated stock directly to St. Edward.

• Claim a charitable deduction based on the stock's fair market value at the time of transfer.
• Completely avoid capital gains tax! 
• Pro Tip: Avoid selling the stock first—direct transfers ensure you receive the full tax benefit.

Depreciated Stock: Turn a financial loss into a meaningful contribution with tax advantages.

• Sell depreciated stock to realize a tax loss.
• Donate the proceeds to St. Edward, which may help offset capital gains or reduce other taxable income. 
• Pro Tip: Consult your financial advisor to ensure this strategy aligns with your overall tax and giving goals.

Click here to learn more about gifts of stock and securities.

Make Your IRA Work for You and St. Edward

If you’re 70½ or older, a Qualified Charitable Distribution (QCD) is a smart, tax-efficient way to give:

• Transfer up to $105,000 directly from your IRA to St. Edward—tax-free, even if you don’t itemize deductions.
• For donors 73 and older, a QCD can also satisfy your Required Minimum Distribution (RMD) while reducing your taxable income in future years. 
• Pro Tip: QCDs are excluded from taxable income, offering significant tax savings even though they don't qualify as a charitable deduction.

Leverage Your Donor-Advised Fund (DAF)

Consider making a year-end recommendation to support St. Edward today. While grants from a DAF don’t offer additional tax deductions, they remain a powerful way to amplify your impact.

Maximize Your Impact with Matching Gifts

Many employers match or exceed their employees' charitable contributions. Check with your HR department to see if your company offers a matching gift program and if any paperwork is needed to secure a matching grant for St. Edward. It's a simple way to double—or even triple—the power of your generosity! 

Review Beneficiaries – Build a Lasting Legacy

As the new year approaches, take a moment to review your financial accounts, retirement plans, and insurance policies. Naming St. Edward as a beneficiary is a thoughtful way to ensure your legacy continues to inspire and empower future generations.

IMPORTANT DEADLINES

To qualify for a tax deduction in 2024, make sure your gift is completed on time:

• Appreciated Stock: Complete transfers by Dec. 26, 2024, to allow brokers time to process.
• Credit Card Gifts: Donate online or by phone by 11:59 p.m. on Dec. 31, 2024.
• Checks via USPS: Ensure the envelope is postmarked by Dec. 31, 2024.
• Checks via UPS/FedEx/DHL: Schedule delivery to arrive by Dec. 31, 2024.
• Qualified Charitable Distributions (QCDs): Ensure checks from self-directed IRAs clear by Dec. 31, 2024.
• Wire Transfers: Initiate no later than Dec. 28, 2024, and confirm processing times with your bank.
• Donor-Advised Fund (DAF) Grants: Request early to allow time for year-end processing.

We’re Here to Help!

Before making your gift:

• Confirm Accepted Donations: Verify which types of assets and donations St. Edward can accept to maximize the impact of your gift.
• Notify Us of Your Gift: Inform the Office of Institutional Advancement about any transfers or contributions so we can accurately track and acknowledge your generosity.
• Check Deadlines: Consult your financial institution or advisor to ensure your gift is processed in time to qualify for a 2024 tax deduction.

Thank you for your thoughtful support in advancing our mission! 

Have questions? Contact Vice President of Institutional Advancement Paul Mocho at pmocho@sehs.net or call 216.227.2232.

This information is intended as a general guide. Please consult your financial advisor, CPA, or attorney to determine how these strategies apply to your situation.