The Benefits of Giving
Charitable giving to St. Lawrence remains a tax-smart way to support the University’s mission.
Laurentian generosity has made a profound difference for our students and the St. Lawrence community. Planning your giving offers you another way to support the University and future generations of students, while making financially prudent charitable contributions.
For 2021, here are four suggestions that offer optimal tax benefits for you and your family:
- Avoid capital gains by transferring appreciated stock that you have owned for at least one year. You receive a tax deduction for the stock’s fair market value and the University receives the stock’s full value.
- Deduct cash donations, if you itemize, by up to 100% of AGI (adjusted gross income) before December 31, 2021. You may blend stock transfers at 30% and cash contributions at 70% to reach 100% of AGI.
- Give up to $100,000 tax free with the IRA Charitable Rollover. This is available to those who are 70½ years or older and either itemize or take the standard deduction. This can also help meet your RMD (required minimum distribution). Your qualified charitable distribution (QCD) to St. Lawrence can also help meet your RMD.
- Reduce your taxable income, if you take the standard deduction, by up to $300 (or $600 for married couples filing jointly) with an “above the line” adjustment for cash donations made before December 31, 2021.
For more information—including charitable gift plans tailored to your needs and circumstances—please contact the St. Lawrence Director of Planned Gifts, Kurt Terrell at (315) 229-5026 or email firstname.lastname@example.org.
You can also find frequently asked questions—and their answers—at plannedgifts.stlawu.edu/2021-Tax-Incentives.