Dedicated teachers, small classes, study and internship opportunities abroad, plus exciting extracurricular activities and a beautiful seaside campus in New England– all of this depends on the generous support of the St. George’s School community.
The excellence of the St. George’s experience is a result of the generous support of current and past parents, alumni, faculty, staff and friends. We work diligently to give our students the individual attention, academic resources and community support they need to grow and thrive. Your gifts make doing so a possibility.
- Credit Cards
- Automatic Debit
- Personal Property
- Planned Gifts
- Qualified Charitable Distributions (QCD)
If you hold securities which would result in a long-term capital gain if sold, you can make an outright gift to St. George’s and realize substantial savings on capital gains tax on the appreciation. Thus, the actual cost to you as a donor is often far less than the value of your gift to the school. It is recommended that you consult with your tax advisor to discuss the latest IRS rules and regulations.
It is very important to inform the school if you are making a gift of securities. Contact Helen Cassels in the Advancement Office at 401-842-6756 or 1-888-ICALLSG (422-5574).
To make a gift of stock, instruct your broker to transfer the securities to the account of St. George’s School at Merrill Lynch, Mail code: RI1-537-06-04, One Financial Plaza, 6th Floor, Providence, RI, 02903.
Depository Trust Company (DTC) #8862, Account #6QV-02149. For help at Merrill Lynch, you may call Howard Merriman or Wendy Johnson at 877-343-1992 / 401-278-7018.
Once the stock is in the St. George’s account, you will receive a letter from St. George’s valuing your gift by the mean value per share on the date it arrived in the School’s account.
For information about Planned Gifts, such as Charitable Gift Annuities, trusts and bequests, see our Planned Giving page, or call the Advancement Office at 1-888-ICALLSG (422-5574) for further information.
What is a QCD and how can it support the St. George’s Fund?
A Qualified Charitable Distribution (QCD) is a withdrawal from an Individual Retirement Account (IRA) that is sent directly to a charity (i.e. The St. George’s Fund). In other words, the funds don’t pass through your hands. You instruct your IRA custodian to send the funds straight to St. George’s.
Are you sure I am eligible to do this?
Are you 70 1⁄2 or older (at the time of the donation)? If you answered yes we are in luck!
What’s in it for me?
While you will be supporting St. George’s you will also be reducing your taxes. Once you reach 70 1⁄2 you are required to withdraw funds annually from your IRA and report the distributions as income on your tax returns. So, if you’re required to withdraw $10,000 from your IRA in 2018, that may increase your income this year by $10,000. Who wants to see their taxes get raised? Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.
How much can I contribute to St. George’s via a QCD?
You can transfer as much as $100,000 a year from your IRA to any combination of qualified charities, and none of that money would be taxed. And the limit is $100,000 a year per person - not per IRA.
When do I need to start working on this for my 2018 donation?
For a QCD to count towards your current year’s Required Minimum Distributions (RMD), the funds must come out of your IRA by your RMD deadline, generally Dec. 31. Don’t wait until Dec. 29 to get started! Recommendations are to reach out to your IRA adviser now.
You can learn more about QCDs on the IRS website. For wiring instructions or any questions, please reach out to Director of the SG Fund Jennifer Breslin at 401-842-6741 or email@example.com.