Church

 

GET INVOLVED: DONATE

Beneficiary Designations

To make us a beneficiary of your estate, IRA, 401(K), annuity or life insurance policy, you can contact your plan administrator for plan specific details. Please e-mail Sr. Stephanie at olamission@gmail.com to let us know that you most generously took this step and/or if you have questions.

To help you in this process, here is some information you would need for your estate plan.

Legal name: Mission of Our Lady of the Angels
Address: 3808 W. Iowa St., Chicago, IL 60651
Our tax identification number is 20-3436272

 

Donating stocks is easy and is a great way to maximize your charity contribution tax benefit. Please contact Sr. Stephanie at olamission@gmail.com or 773-486-8431 to talk about your donation. To preserve the tax advantages of donating stock, you must transfer the shares directly to us. Do not sell the stock.

Donors aged 70½ or older who transfer up to $100,000 from their IRAs directly to Mission of Our Lady of the Angels (and other qualified charities) will not have to pay income tax on the money.
Funds must transfer directly from your IRA custodian to the “Mission of Our Lady of the Angels, 3808 W. Iowa St., Chicago, IL 60651” in order to avoid a taxable event.

A recap of the IRA charitable rollover rules: 

  • If you are 70½ or older, you can give up to $100,000 directly from your IRA to charities such as Mission of Our Lady of the Angels.
  • This opportunity applies to both Traditional and Roth IRAs but not to other types of retirement plans.
  • You pay no income tax on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your tax deductions.
  • The gift can satisfy all or part of the required minimum distribution for the year.
  • The transfer may be made in addition to any other charitable giving you have planned.
  • You must distribute the gift amount directly from your IRA. It is important that you do not withdraw the funds prior to making your gift.

Please let Sr. Stephanie know at olamission@gmail.com / 773-486-8431 if you plan on making a gift in this way! Thanks!