Giving Options

by | Nov 14, 2018 | Giving

Making an IRA Rollover Gift

  • If you are 70½ or older, you can use your individual retirement account (IRA) to support your church. Making a qualified charitable distribution from your IRA will lower your income and avoid taxes, plus it can go to meet your required minimum distribution (RMD).
  • Contact your IRA administrator. With the popularity of the IRA rollover, most administrators provide forms and a procedure to help you make a rollover gift.
  • You can direct a transfer of up to $100,000 to be made this year from your IRA to a qualified charity.
  • You will pay no income taxes on the amount transferred.
  • Note: Because you are not claiming the transferred amount as income, you will not receive an income tax deduction for your gift.

Gifts of Appreciated Securities

  • Stock gifts may be made directly to your church, if they have a brokerage account.
  • If your church does not have a brokerage account, the Foundation will handle the transaction for you at cost.
  • You do receive a charitable contribution deduction and avoid capital gains tax.

Gifting Every Other Year

  • If you do not reach the minimum for itemized deductions with your annual gift to the church, you may wish to give for two years every other year.
  • You will be able to itemize deductions.
  • You will need to ensure that your treasurer knows that the payment is for two years.

#Giving Tuesday

  • Tuesday, November 27, 2018
  • Giving Tuesday is a global day created to balance the spending on Black Friday.
  • You may give to The Advance of the United Methodist Church, your congregation, or the Foundation for scholarships.

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