Securities gifts are an advantageous way of making a charitable contribution that may positively affect financial, tax, and estate plans. If you wish to make a gift of stock, please share the following account information with your broker:
Charles Schwab Account DTC 0164
St. Paul Academy and Summit School Account #47578630
Please be sure to notify the school of any transfers you make, as it is nearly impossible for us to know where transfers have originated once we have received them. Most importantly, we need to know which stock you have donated. Then we can properly credit you and thank you for your gift. To learn more about making a security or stock gift to St. Paul Academy and Summit School, please contact Dorothy Goldie at 651-696-1422 or by email.
Individuals who are age 70½ or older can make gifts of up to $100,000 directly from an IRA to qualified charities, such as St. Paul Academy and Summit School, without paying federal income tax on the distribution. Because such a gift is excluded from adjusted gross income, this gift option provides tax savings to donors even if they do not itemize deductions.
Here are the specifics:
Donors must be age 70½ or older at the time the gift is made.
It is important to use your IRA trustee's forms to designate your distribution. Do not withdraw the funds before making a gift. The time it takes for the IRA trustee to transfer funds may vary.
An individual’s total qualified charitable distributions cannot exceed $100,000 per year.
Gifts can be used to satisfy the donor’s required minimum distribution.
Instead of taking a charitable income tax deduction for the gift, donors exclude the distribution from their income.
Qualified charitable distributions can only be made from a traditional (non-Roth) IRA, not 401(k)s or other retirement accounts.
Donors cannot receive goods or services, or a personal benefit in return for an IRA charitable distribution.
St. Paul Academy and Summit School does not provide legal or tax advice. Donors should consult their own professional tax advisor before making a gift.
Some donors prefer to pledge a gift to be paid off in regular increments over a specific period of time. Pledges may be set up by contacting firstname.lastname@example.org or by calling 651-696-1302. With your pledge confirmed, you will be sent a reminder according to the schedule or time of year you choose to make payment.
Additional support to the Annual Fund is provided every year through the generosity of corporate matching gift programs that make it possible for employees to increase the value of their gifts. The company match will be credited to you, and you will receive donor recognition for the total amount. Many corporate matching gift programs will match not only gifts of current employees, but also retirees, directors and spouses.
To find out if you are eligible, visit our searchable database for up-to-date information on companies that match gifts. Call (651) 696-1302 for more information.
We are available to talk with you about including SPA in your long-term estate or financial plans. Planned gifts can include bequests, real estate, personal property, life income gifts or other types of appreciated property.
Learn more about planned gifts to SPA by contacting Dorothy Goldie, Director of Institutional Advancement, at 651-696-1422.
A gift in honor of your Reunion is a wonderful way to celebrate your time at the school. Reunion gifts can pay tribute to a classmate, a teacher, or a particular program or activity by giving to one of four areas of need: financial aid and scholarships; student programs; academic support; or the school's area of greatest need.
To make a Reunion gift, contact Alyse Simondet, Director of Annual Giving, by email or at 651-696-1302 to find out how your class is celebrating Reunion with gifts to the school.