Your gifts fuel our mission by supporting the people and programs that make a Christ-centered Providence education distinct. There are many ways to give and various associated tax advantages. Please consult your financial advisor for more information. If you have questions about one of these avenues or need assistance, please reach out to us at 805-962-3091 or firstname.lastname@example.org
Cash or Credit Card
You can double the impact of your donation to Providence through employer matching. Thousands of companies match their employee’s gifts to charitable organizations.
See if your employer will match your donation. You may need the following information to complete the process with your employer electronically or on paper:
Providence School EIN:
3225 Calle Pinon, Santa Barbara, CA 93105
(805) 962-3091 or email@example.com
By gifting appreciated stock, bonds, or mutual fund shares (that have been owned for at least one year), an individual may avoid paying capital-gains tax on the appreciation. To claim a deduction in the current tax year, the transfer of stock to Providence must occur by December 31st. Below, please find instructions for making a gift of stock:
Broker Name: Capital Wealth
Account Name: Providence SBCS
Providence Tax ID: 95-2105233
Broker Contact Info: Johan Frisell (805) 485-2500
Please authorize your broker to provide us with your name, name of the stock, and number of shares being transferred, so that we can provide a receipt and properly thank you.
An individual avoids paying capital-gains tax on the appreciation (that would otherwise be due upon the sale of the stock) and can receive an income-tax charitable deduction (if they itemize deductions on their tax filing) for the full fair market value of the gifted asset (up to 30% of adjusted gross income). While it is perfectly appropriate to make gifts of cash, donating appreciated stock allows the individual to maximize the size of the gift to Providence.
Qualified Charitable Distribution: A qualified charitable distribution, otherwise known as a “QCD,” allows individuals who are 70 ½ years old or older to donate up to $100,000 (total, per year) to one or more charitable organizations directly from their taxable individual retirement account (IRA). To make a charitable gift using a QCD:
- Contact your IRA custodian to instruct them to make a direct gift (a Qualified Charitable Distribution) from your IRA to Providence School.
- Once you have instructed your IRA custodian, please let our office know to expect your gift as many custodians send a check without other documentation such as your name. Inform Providence at (805) 962-3091 or firstname.lastname@example.org.
- Your IRA custodian will send a check directly to Providence.
- For year-end gifts, requests to your IRA custodian should be made by December 1 to guarantee Providence receives your gift by December 31.
Under current law, every taxable IRA account holder must take a required minimum distribution (RMD) annually beginning at the age of 72. This RMD is treated as ordinary income for tax purposes. Individuals who enact a QCD and distribute money from their taxable IRA directly to Providence can address their RMD requirement, avoid paying income tax on the distribution and potentially avoid being pushed into a higher income tax bracket from having taken their required minimum distribution.
Donor-Advised Fund: Recommend a grant to Providence through a Donor-Advised Fund (DAF).
A Donor-Advised Fund, otherwise known as a “DAF,” is a charitable giving vehicle that allows an individual to create a personal fund and contribute cash or other assets as frequently as they like, at which point they can recommend grants to Providence and other 501(c)(3) charities from this personal fund. The fund is established with a public charity, enabling donors to receive an immediate tax benefit on their contributions.
In addition to utilizing these strategies to support the School, individuals planning for the future may also have the heart to include Providence in their estate planning, leaving a lasting legacy and providing vital support for Providence’s future. Two common ways to make a planned gift to Providence are through a Bequest and a Beneficiary designation.
Bequest: A bequest is a gift from an individual’s will or living trust and is one of the more common ways you can support Providence through your estate. Bequests provide flexibility in that individuals can change their bequest at any time, should their circumstances change.
To leave a legacy gift to Providence, include the following language in your will: “I will give, devise, and bequeath to Providence School, tax identification number 95-2105233, 3225 Calle Pinon, Santa Barbara, CA 93105 (insert amount, percentage, or nature of gift, or remainder of estate) to be used for its educational purposes.”
Beneficiary Designations: Beneficiary designation enables an individual to designate Providence as a beneficiary of a retirement account, life insurance policy, or financial account. Simply include Providence School as a beneficiary by assigning a percentage of the asset to the school.
Beneficiary designations provide flexibility in that an individual can change their beneficiary designation at any time, should their circumstances change. Beneficiary designations for pre-tax 401(k) and IRA accounts can also provide tax efficiency. The assets within such pre-tax retirement accounts can grow tax-deferred over time but have an embedded tax liability that the account owners face when they make a withdrawal (i.e., RMD) or when the account’s beneficiaries distribute the account following the account owner’s passing. However, should an individual choose to designate a 501(c)(3), such as Providence, as a beneficiary of their retirement account, Providence’s inherited portion of the account could be distributed tax-free, allowing the School to realize the full value of the gift.
Thank you for considering Providence for your charitable giving.