Giving

Planned Giving

Ensuring the Future of The Mount

Planned giving provides multiple opportunities for donors to support Mount Saint Joseph while also receiving tax breaks and other financial benefits. There are many options that provide the donor with income payments and also a charitable deduction. We recommend consulting a financial professional prior to making any decisions regarding planned giving. All of the ways of giving listed below help to ensure a secure future for The Mount.

List of 4 items.

Bequests (Br. Nilus Cullen, C.F.X. Legacy Society)

Bequests are a simple way to support Mount Saint Joseph and to help provide for its future. Bequests to The Mount may be unrestricted or designated for a particular purpose. View the list of current members.
Read More
Gifts of Real Estate
A gift of real estate to Mount Saint Joseph is a unique way to support the school while also achieving a possible avoidance of capital gains tax and receiving a charitable income tax deduction. Also, the value of the real estate is taken out of your taxable estate. Real estate can be given to The Mount through different means including bequeathing the property, giving the property outright, transferring the property into a charitable remainder trust, or establishing a retained life estate. A retained life estate is established when you give your residence or vacation property to Mount Saint Joseph but reserve the use of the property for your life and/or the life of another beneficiary.

Benefits to the donor:
- Donation will result in receiving a charitable income tax deduction
- Value of real estate taken out of taxable estate
- Many options in making a donation of real estate
Life Insurance Gifts
Gifts of life insurance are a good way to make a gift to The Mount without incurring a large expense. You can donate either a paid-up policy or a policy where you are still making the premium payments. In both cases you may qualify for a charitable deduction.

Benefits to the donor:
- Support Mount Saint Joseph without incurring a large personal expense
- Qualify for a charitable deduction
Retirement Plan Gifts

Retirement plan gifts are another easy way to support Mount Saint Joseph and they are a great asset to give to a charity. Retirement plan assets are often taxed at extremely high rates, upwards of 50%. Therefore, it makes more sense to pass assets along to heirs that are taxed at lower rates and donate retirement plan assets to The Mount. Simply name Mount Saint Joseph as the beneficiary of your 401(k), 403(b) or IRA.

List of 3 items.

Make Your IRA Work for You and MSJ
If you’re over 70½, consider a Qualified Charitable Distribution (QCD):
- Direct up to $105,000 (income tax-free!) from your IRA to support Mount Saint Joseph, whether you itemize deductions or not.
- For donors aged 73 and older, QCDs can also satisfy your Required Minimum Distribution (RMD) while reducing taxable income in future years.
Why a QCD?
- It’s not taxed as income, so you won’t receive a charitable deduction, but it’s a powerful tax-efficient giving method.
- Even if you’re not yet required to take RMDs, a QCD is a meaningful way to invest in your legacy and ours.
Smart Giving with Gifts of Stock
1. Appreciated Stock: Maximize your tax benefits by donating appreciated stock directly to Mount Saint Joseph.
  - Receive a charitable deduction based on the stock’s fair market value at the time of transfer.
  - Avoid capital gains tax entirely.
  - Tip: Don’t sell the stock first! Direct transfers provide the full tax advantage. We’ll help you or your broker handle the transfer smoothly.
2. Depreciated Stock: Turn a loss into a tax-saving opportunity by selling depreciated stock to realize a tax loss.
  - Donate the proceeds to support Mount Saint Joseph, which may help offset capital gains or other taxable income.
  - Discuss this strategy with your financial advisor to maximize benefits.
Leverage Your Donor-Advised Fund (DAF)
Already using a DAF for charitable giving?
- Make a year-end recommendation to support Mount Saint Joseph today. Your generosity ensures we can continue our mission in 2024 and beyond. (Remember, DAFs do not provide additional tax deductions when grants are made.)