How It Works
If you wish to make a stock gift to the Ignatian Solidarity Network, stocks may be transferred to the organization’s account at Legacy Strategic Asset Management of Wells Fargo Advisors LLC:
ATTN: Kimberly Ellis Morgan
Fax Number: 330-655-8921
Deliver to DTC Number: #0141
For credit to Account Number: 5068 1236
Account Name: Ignatian Solidarity Network
Tax Identification Number: 34-2000767
Let Us Know
Kindly inform ISN of any stocks you transfer by contacting Networking and Development Director, at 216-397-2082 or email@example.com or writing to:
Ignatian Solidarity Network
1 John Carroll Blvd.
University Heights, OH 44118
For further information, please contact Ms. Chapin, at 216-397-2082 or firstname.lastname@example.org. We appreciate your support.
IRA Charitable Rollover
The IRA Charitable Rollover allows individuals age 70 ½ and over to donate up to $100,000 in individual retirement account (IRA) assets to the Ignatian Solidarity Network. The Charitable IRA Rollover is tax-free and not included in a donor’s adjusted gross income.
How it works
Individuals may make gifts to charity from traditional and Roth IRA accounts without any federal tax liability as long as the gifts are “qualified charitable distributions.” No charitable deduction may be taken by the owner, but distributions will qualify for all or part of an IRA owner’s Required Minimum Distribution.
Requirements for “qualified charitable distributions”
- Gifts are tax-free up to $100,000 per year
- Gifts will qualify for all or part of your Required Minimum Distribution
- IRA holder must be age 70 ½ or older at the time of the gift
- Gifts must be outright gifts to a charitable organization
- Distributions may only be made from traditional IRAs or Roth IRAs
Who benefits from this provision?
- People who normally do not itemize their deductions can avoid taking the IRA distribution as income and send it directly to charity. This may reduce both their federal and state income tax liability.
- Individuals whose IRA distributions increase their income to a level where 85% of their social security is taxed may want to make a qualified charitable distribution to reduce their income.
- Individuals in high-income brackets who have large IRAs may have substantial income tax savings not otherwise available because of charitable deduction limitations. A qualified charitable distribution of up to $100,000 may have the three-fold benefit of reducing their taxable income, reducing the value in their IRA, and meeting their Required Minimum Distribution.
This is an excellent opportunity for individuals to fulfill their charitable goals. Transfers from IRAs can fund ISN’s Companeros Fund, Scholarship Funds, and our Endowment.
To transfer a gift from your IRA, please contact your IRA administrator directly. ISN’s Tax Identification Number is 34-2000767.
For more information on how you may benefit ISN through an IRA Charitable Rollover gift, please contact Lena Chapin, Director of Networking and Development, at 216-397-2082 or email@example.com.
This information is for educational purposes and is not professional tax or legal advice. Consult a financial professional or tax advisor about your specific situation.
Make ISN a Beneficiary
Did you know that the beneficiaries named on a retirement plan or life insurance policy determine who will receive these funds, even if they are designated differently in your will? Did you also know that funds remaining in your IRA may be subject to multiple taxes if left to your estate?
If you are considering including a gift for The Ignatian Solidarity Network in your will, we have a simple solution. Name ISN as a beneficiary or partial beneficiary of your retirement plan and leave other less-taxed assets to your family
IT’S EASY AS 1, 2, 3!
- Request a “change of beneficiary” form from your plan administrator.
- List the Ignatian Solidarity Network as a beneficiary at the following address: 1 John Carroll Blvd, University Heights, OH 44118
- Inform Lena Chapin (firstname.lastname@example.org or 216-397-2082) of your intentions, so we can thank you!