If your New Year’s resolution was about becoming a better you in 2019, what better way to work towards that than by giving back to your church or favorite organization. Below are eight ways to support your favorite ministry through planned giving.
1. Give gifts of stock — Stock given through the Foundation avoid capital gains taxes and generate a great tax deduction for the donor. The church or organization will receive the value of the stock, with no commission charges from the Foundation.
2. Give gifts of cash
3. Give your Required Minimum Distributions (RMDs) through your retirement directly to the organization of your choice and save taxes — If you are over 70 and a ½, RMD’s from various pension programs can be designated specifically for a church or ministry. When these funds go directly to the charity, they do not count as part of your income, which can be beneficial for your tax rates.
4. Give through your will — A will is a wonderful way to give back to your church and make a meaningful contribution. Gifts may be a specified amount, part of an estate, or the excess of a will given at the time of death.
5. Give through donor-directed funds
6. Give through charitable trusts
7. Give through gift annuities — A charitable gift annuity is an agreement between you and the Foundation. It can provide you with a secure source of fixed payments for life in exchange for transferred assets. You can also receive a charitable income tax deduction for the gift portion of the annuity. The church or organization of your choice will receive a portion of the initial gift at the end of life.
8. Give gifts of real estate — Donating appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch, or commercial property can make a great gift to the ministries you love. Some benefits of gifts of real estate are the avoidance of capital gains tax on the sale, the receiving of a charitable income tax deduction based on the value of the gift, and the leaving of a legacy to the church or charity group.
Check out https://iumf.giftlegacy.com for more planned giving information to help you figure out the best way to support the groups you love.