LEGACY IMPACT GIVING
GIFTS THAT HELP NOW
GIFTS THAT HELP PRODUCE INCOME
GIFTS THAT HELP LATER
Gifts That Help Now
Assets that can be given immediately
Outright Gift of Non-Cash Assets
You may consider making a direct gift of a non-cash asset, such as real estate, business holdings, appreciated securities, or valuable personal property. In many cases, these gifts qualify for an immediate tax deduction, eliminate capital gains tax, and remove the asset from your estate—potentially lowering estate taxes.
Giving from Your IRA
There are two primary ways to donate through your Individual Retirement Account (IRA). First, if you are age 70½ or older, you can contribute up to $100,000 per year directly to the church using a Qualified Charitable Distribution (QCD), which counts toward your Required Minimum Distribution. Second, if you are at least 72, you may choose to direct your Required Minimum Distribution (RMD) to the church. While this option doesn’t provide a tax deduction, it exempts you from paying ordinary income tax on the distribution.
Donor Funds & Endowments
A Donor Fund is maintained by the church for the benefit of a designated ministry and is guided by a donor agreement specifying its intended use. This type of fund functions similarly to an endowment, where the principal gift is retained and disbursed gradually. Donor Funds can be established using cash or appreciated assets. Contributions are typically tax-deductible and may also help you avoid capital gains tax.
Donor Advised Funds
A Donor Advised Fund operates like a charitable investment account dedicated to supporting the nonprofit causes you care about. You can recommend grants from the fund to various charities. When you contribute cash or non-cash assets to the fund through a sponsoring public charity, you’re usually eligible for an immediate tax deduction. Additionally, the assets in the fund can grow tax-free over time.
Gifts That Produce Impact
Assets that you can give AND receive income on which to live
Split Interest Gifts
With a split interest gift, you contribute an asset while retaining the right to receive income from it. In return, you receive a current charitable income tax deduction based on the portion that will ultimately go to the nonprofit. This type of gift may help you avoid capital gains tax on the donated asset and could reduce estate taxes on the remaining value distributed to the charitable organization.
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Charitable Remainder Unitrust (CRT)
A CRT provides variable annual income—based on a fixed percentage of the trust’s value—to you or your chosen beneficiaries for life or for a term of up to 20 years. This structure allows you to receive income while also supporting charitable causes. If you fund the trust with appreciated assets, the CRT can help avoid immediate capital gains tax. After the income term ends, the remaining trust assets are distributed to the charitable organization(s) you selected. Additionally, CRTs are tax-exempt and do not pay taxes on earnings within the trust.
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Charitable Gift Annuity (CGA)
A CGA is a simple contract between you and a charitable organization. You transfer cash or assets to the church, and in return, receive fixed annual payments for life. Part of each payment may be considered a tax-free return of principal. You also receive a current income tax deduction for a portion of your gift. When the annuity term ends—typically upon your death—the remaining balance goes to the church.
Gifts That Help Later
Assets that can be given at death that will perpetuate the ministry you care about and personify your legacy
Making a Bequest by Will or by Trust (Revocable)
You can name the church in your will or trust in one of the following ways:
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Allocating an exact amount of funds
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Allocating a percentage of the total estate
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Assigning an heir or charity as the beneficiary
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Allocating the remainder of funds, after all other bequests are distributed
The Estate will receive a federal tax deduction for all charitable bequests.
A Gift from an IRA or Retirement Plan
This may include an outright gift from an IRA during one’s lifetime (age 70.5 and older). (See above for details.) If you choose to designate the church as a beneficiary of an IRA or retirement plan, you can indicate a specific amount or a percentage of the assets, or name the church as a contingent beneficiary, second in line to inherit the assets.
A Gift from Life Insurance
You may designate the church as the beneficiary of all or a portion of the death benefit of a life insurance policy. Alternatively, you may name the church as the irrevocable owner and beneficiary of a life insurance policy. If the policy is given to the non-profit during the giver’s lifetime, the giver may deduct the cash value of the contributed policy. If the death benefit is designated to the non-profit, the contribution may qualify for an estate tax deduction.
Generosity
When we give through tithes and offerings from the blessings God has provided, it displays our worship, gratitude, and devotion to Him. Thank you for sowing into all that God is doing at Visalia First.
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