Stock Transfers & IRA Charitable Distributions

Stock Transfer

Consider transferring any stock you own rather than selling the stock and donating the proceeds of the sale. Stock sales can be taxed at over 37 percent of the value. However, if you donate stocks that have been held at least a year, there are no taxes on the process. The entire stock is transferred at its valued price to JFS.

For more information or to transfer stock to JFS, contact Development Director Kristen Cullen.

IRA Charitable Distribution

IRA holders 72 years or older may use all or part of their Required Minimum Distribution to donate up to $100,000 directly to JFS, fulfilling their required distribution. Any amount you donate this way counts toward your Required Minimum Distribution and reduces the taxable amount of your IRA distribution. This lowers your taxable income even if you take the standard deduction, resulting in a lower overall tax liability.

Important Information to Note:

  • The deadline for an annual gift is December 31.
  • The gift must transfer directly from your IRA custodian to Jewish Family Service of St. Paul (JFS).
  • The IRA donation may fulfill an existing pledge, be a new gift, contribute to an endowment fund or a donation to other areas at JFS.
  • Make sure your IRA custodian and tax preparer know you are doing this.
  • Please ask your IRA custodian to include with the donation: the purpose, your name and that it is from an IRA.