Year-End Tax Saving Strategies
As the end of the year approaches, it may be advantageous for you to consider these tax-saving strategies for your philanthropic giving:
- Gifts of Cash
- Gifts of Securities
- IRA Charitable Rollovers
- Matching Gifts
Please note: St. Joseph's Preparatory School is an educational institution and does not provide tax, legal, or financial advice. Any document or information shared by our staff is intended to be educational. We strongly encourage donors to seek counsel from their own legal and financial advisors. Please be aware that any information or documents shared by our staff cannot be used to avoid tax-related penalties.
Gifts of cash are tax deductible in the year the gift is made. You can give gifts of cash either by credit card or personal check. Please see below for more information.
- Credit Card
If you prefer, you can make a credit card gift through the mail. To do so, please send your credit card number, expiration date, CSV, daytime telephone number, and instructions regarding your gift designation to:
St. Joseph’s Prep
1733 W. Girard Avenue
Philadelphia, PA 19130
Note: if you chose to mail your credit card gift, please do so by December 15 to ensure it gets processed before the end of the calendar year.
To make a credit card gift by phone, call Will Dennis '01, Manager of the Prep Fund, at 215-978-1004. Please have your credit card number, expiration date, and CSV number ready.
- Personal Check
Please make checks payable to St. Joseph’s Prep and mail, along with instructions regarding your gift designation, to the address listed above. All mailed checks must be postmarked by December 31, 2017.
*Please note that U.S. stock markets will be closed on December 26, 2017 in observance of Christmas. US stock markets will also be closed on December 31, 2017 which is a Saturday.
Thank you for considering a gift of securities in support of St. Joseph’s Prep. Gifts of securities often confer significant tax benefits on a donor. For example, contributions of appreciated securities held for over a year are generally deductible at market value, regardless of what the donor paid for them; moreover, the capital gains tax is avoided through such a gift.
To Make a Gift of Securities
To notify the Prep of a gift of securities, please contact Linda Rooney, Director of Development Operations, at 215-978-1016 or firstname.lastname@example.org with complete donor information, the name and type of securities to be gifted (public, private, restricted, mutual fund, etc.), the number of shares, and the date you intend to make the gift.
DTC Transfer of Stock
To transfer securities to St. Joseph’s Preparatory School via DTC, please contact our broker:
Boenning & Scattergood
Contact: Patti Dalina
Prep account #4362-2576
It is very important to us that we appropriately acknowledge the generosity of our benefactors in a timely and accurate manner. It can be difficult to identify the donor after a gift of securities is processed, particularly in the case of an electronic transfer. Therefore, please ask your broker to include your name and address in the DTC transfer instructions, and also please inform Linda Rooney, Director of Development Operations, of your gift by email, phone, or letter (see contact information above).
Gift Valuation Date
1. Physical Securities
The gift valuation date for physical securities is determined by the postmark on the envelope used to mail the securities. For hand delivery of securities, the gift valuation date is the date the securities are turned over to Prep representatives.
2. Electronic Transfers
The gift valuation date for securities sent to us via DTC is the date the securities are deposited into our Boenning & Scattergood account.
The value of a stock gift is calculated by averaging the high and low quoted selling prices for the stock as of the gift valuation date.
Acknowledgment of Gift
As soon as a securities gift is received and matched to a donor, the Development Office sends an acknowledgment letter stating the nature of the gift, the gift valuation date, and the gift valuation amount.
If you are 70 ½ or older and have a traditional Individual Retirement Account (IRA), you can use your required minimum distribution to support St. Joseph’s Prep through an IRA Charitable Rollover gift. To make an IRA Charitable Rollover gift to the Prep, contact your IRA custodian and ask that your distribution be a charitable rollover to St. Joseph’s Prep and include your name and address in the transfer.
Click here for more information.
A corporate matching gift is an excellent way to increase the impact of your personal contribution to the Prep. By taking advantage of your employer’s matching gift program, you can arrange for an additional gift that can potentially double or triple the impact of your contribution.
Matching Gift Procedure
- Obtain a matching gift form (or web address) from your HR department.
- Complete matching gift form and mail to the Prep with your donation.
- Your company will send the matching gift after the Prep verifies your request.
St. Joseph’s Prep's Tax ID number is 23-1352675
Please mail completed matching forms to:
St. Joseph’s Prep
Development Office – Matching Gifts
1733 W. Girard Avenue
Phila., PA 19130
Prep Fund Manager
Will Dennis ’01