Giving is an expression of our gratitude for God's grace and generosity in our lives. There are many ways in which we give: of our time, of our energy, of our skills, and of our finances, and we often find that through giving, we receive.
The goal of this article is to explain some of the common ways you can give to your Moravian Church or favorite Moravian agency, and provide you with valuable tax and income benefits. If after reading this information you have questions, please give us a call; we are happy to provide you with a personalized illustration of any of the gift options described and explain the benefits to you.
Current Gift: A current gift is a gift you make today with immediate benefits. Here are four types:
1. Cash: A cash gift is usually the easiest and most convenient way to make a gift to Moravian ministry. The church/agency can make use of the gift right away and you receive a valuable income tax charitable deduction to offset your taxes on this year's return.
2. Securities: A gift of stocks or bonds may provide you with an even greater tax benefit. If you have owned securities for more than one year and the value has increased, you can avoid capital gains tax and receive a charitable income tax deduction equal to the fair market value of your gift. The Moravian Ministries Foundation assists Moravian churches and agencies with gifts of stocks; visit Lee's blog post to learn more about the process.
3. Real estate: A gift of your real estate that has been held for more than a year also has the advantage of providing you with a charitable tax deduction based on the current value of the property, as well as enabling you to avoid capital gains tax on the sale of your property.
4. Personal property: Selected artwork, books and antiques are examples of personal property that may also make nice gifts to a Moravian ministry. To ensure that your gift of personal property qualifies for a favorable tax deduction, please contact us.
Gifts That Generate Income For You:
1. Charitable gift annuity: A charitable gift annuity is a great example of how a gift can generate income for you. You transfer cash or property to us, designate the final beneficiary of your gift, and we promise to make a fixed payment to you for life at a rate based on your age. In addition to the security of fixed income, you receive a charitable income tax deduction and a portion of each of your annuity payments may be tax free. The deferred payment gift annuity in which annuity payments are delayed for more than one year offers rates that make it an attractive supplement to your retirement income.
2. Charitable remainder trust: The most versatile charitable giving tool, the charitable remainder trust (CRT), can help you avoid capital gains tax on the sale of your appreciated assets, generate regular increased income for you, provide you with a charitable income tax deduction, and fulfill your philanthropic goals. Your CRT will be invested income to produce and take advantage of investment growth opportunities.
3. Charitable bequests: Next to writing a check, perhaps the best known vehicle for giving is the bequest. A bequest is a gift that is made through your will or trust and can establish your wishes today without relinquishing needed assets during your lifetime. For more information on bequest giving options, visit our bequest article. We can also provide you with a free Guide to Planning Your Will, which is a helpful process to complete before meeting with an estate planning attorney.
How can we help you Invest Where You Believe? Please call (888.722.7923 or 336.725.2589) or email (email@example.com) us today so we can provide additional information or schedule a time to come visit you to learn more about your interests and goals. The conversation is free, confidential, and without obligation.