IRA, Stocks, and Wills

We encourage all parishioners to consider remembering St. Bart's in your will.

If you do so, we encourage you to call the rectory (301-229-7933) or email [email protected] to notify us of your actions and where you would like to designate your gift.

If you are 70 ½ or older and are taking required minimum distributions (RMD) from your traditional or Roth IRA, then you can directly make a gift through an IRA-QCD. Contact your plan custodian to complete the IRA transfer and direct the distribution via check to St. Bartholomew Church. If you take the standard deduction on your taxes, the QCD can be a deduction to your reported income which will result in additional tax savings. Even if you itemize your deductions, a reduction in reported income might have tax savings benefits. Please consult your tax advisor how best to implement this strategy for you.

One possibility is to make a list of major donations that you would like to make from your IRA account at the beginning of each year and provide that list to your financial advisor/IRA custodian.  Then you can receive checks made out to St. Bartholomew Church (and other charities) over the course of the year. Alternatively, to avoid the use of checks, your broken can transfer designated funds directly to St. Bart's. This reduces your reported income at tax time.

Some people even have IRA checkbooks provided by their custodian from which they can directly write checks to their church (or other charity).

And, as always, we ask you that you call the rectory (301-229-7933) of email [email protected] to notify us of your actions and where you would like to designate your gift.

Instructions

1. Notify your broker that you wish to make a donation of securities to St. Bartholomew Catholic
    Church. Your broker will need a written authorization from you before making the transfer. Be
    sure to state the name of the stock that you want to transfer, the number of shares and where you
    want the stock to be transferred:
    Charles Schwab & Co., Inc.
    7401 Wisconsin Ave., Suite 100
    Bethesda, MD 20814
    DTC # 0164
    FBO: St. Bartholomew Gifting Account
    Account # 10064076
2. Call, fax or email Ari Strait at Charles Schwab & Co. and tell him of the impending transfer of
    shares.
    301-941-9813 Direct
    800-435-4000 Main
    301-941-9811 Fax
    [email protected]
3. Call or email Elizabeth Litwin ([email protected]) and notify her of the planned
    transfer and where you would like to designate your gift. She will provide you with a letter
    acknowledging the gift for tax purposes after the funds are received. The value of the gift should be as of the date you transfer the shares and should be provided to you by your broker.