Legacy Community
Join Cathedral Square’s Legacy Community by making a planned gift to support our work in perpetuity. In this uncertain funding environment, your planned gift helps ensure Cathedral Square's future as a nonprofit. If you've already included Cathedral Square in your estate plans, or are doing so now, please let us know so we can include you as a founding member of our Legacy Community.
Ways to Make a Legacy Gift to Cathedral Square
- Retirement Assets such as traditional IRAs or Roth IRAs, 401(k)s, life insurance and other qualified plans are the easiest way to make a future gift. As the account holder, you can indicate an amount or percentage that you would like to leave to Cathedral Square on your plan's beneficiary designation form. If you are 70½ or older, you may also make a qualified charitable distribution (QCD) directly from your IRA -- see below for details.
- A Bequest is the most common planned gift and simply requires listing Cathedral Square as a beneficiary in your will. A donor may bequeath either a dollar amount or a percentage of one's estate to Cathedral Square in a Charitable Bequest. Our tax identification number is #03-0264362. Sample Bequest Language: "I bequeath [describe dollar amount, property to be given, percentage, or proportion of your residuary estate] to Cathedral Square Corporation, a non-profit organization located at 412 Farrell Street, South Burlington, VT 05403."
Make the Most of Your IRA: Qualified Charitable Distributions
If you are 70½ or older, you may make a qualified charitable distribution (QCD) from your IRA to Cathedral Square without paying income taxes on your gift amount. After years of short-term authorization, the IRA Charitable Rollover is now permanent. If you qualify, simply authorize the custodian of your IRA or Roth to make a QCD to Cathedral Square (EIN #03-0264362) at 412 Farrell Street, South Burlington, VT 05403.
Benefits:
- You pay no income taxes on the gift. The transfer does not generate taxable income or a tax deduction, so you benefit even if you do not itemize your deductions.
- QCDs can be counted toward satisfying your required minimum distributions for the year.
- Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.
- Your generous support will directly help Cathedral Square support our residents and SASH participants.
To qualify:
- You must be age 70½ or older at the time of the gift.
- Transfers must be made by your plan administrator direct to Cathedral Square by Dec 31 of the tax year.
- The total charitable amount you may distribute in one calendar year is $100,000.
- QCD gifts must be direct from your IRA or Roth IRA to Cathedral Square. Distributions to donor-advised funds or life-income arrangements such as charitable remainder trusts and charitable gift annuities do not qualify.
Gifts of Stock
When you donate stock to Cathedral Square, the full market value of the security is tax-deductible as a charitable contribution, and you avoid any capital gains tax.
To make a gift of stock, you can authorize your financial representative to transfer the certificates to Cathedral Square's account. Please contact info@cathedralsquare.org to obtain our brokerage account information.
Note: It is important that you not sell the securities in your name, as you would then be liable for capital gains taxes.
When making a gift of stock, please let us know so that we can acknowledge your generosity. The value of your gift is determined by the average stock value on the day the securities are transferred from your ownership.