How to Give

Giving to our cause can be done either directly or through a gift model that can provide tax benefits and even income. Click on a gift model below to learn more.

Bequest

You designate our organization as the beneficiary of your asset by will, trust or beneficiary designation form.

What is a Charitable Bequest?

A charitable bequest is one of the easiest and most flexible ways that you can leave a gift to Mississippi United Methodist Foundation that will make a lasting impact.

Benefits of a bequest
  • Receive an estate tax charitable deduction
  • Reduce the burden of taxes on your family
  • Leave a lasting legacy to charity
How a bequest works

A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or Mississippi United Methodist Foundation as part of your estate plan, or you can make a bequest using a beneficiary designation form.

Here are some of the ways to leave a bequest to Mississippi United Methodist Foundation
  • Include a bequest to Mississippi United Methodist Foundation in your will or revocable trust
  • Designate Mississippi United Methodist Foundation as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
  • Name Mississippi United Methodist Foundation as a beneficiary of your life insurance policy
A bequest may be made in several ways
  • Percentage bequest – make a gift of a percentage of your estate
  • Specific bequest – make a gift of a specific dollar amount or a specific asset
  • Residual bequest – make a gift from the balance or residue of your estate

Contact Us

If you have any questions about leaving a bequest to us, please contact us. We would be happy to assist you. If you have been so generous as to include a bequest to Methodist Foundation of Mississippi as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.

IRA Rollover

Congress recently enacted a permanent extension of the IRA Charitable Rollover. As a result, you can make an IRA rollover gift in 2015, 2016 and beyond.

Benefits of an IRA charitable rollover
  • Avoid taxes on transfers of up to $100,000
  • Make a gift that is not subject to the deduction limits on charitable gifts
  • Help further the work and mission of the United Methodist Church
How an IRA charitable rollover gift works
  1. Contact your IRA plan administrator to make a gift from your IRA to us to benefit UM ministry.
  2. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
  3. Please contact us if you wish for your gift to be used for a specific purpose.

Contact Us

If you have any questions about leaving a IRA Rollover to us, please contact us. We would be happy to assist you. If you have been so generous as to include a bequest to Methodist Foundation of Mississippi as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.

Beneficiary Designation Gifts

You can designate us as a beneficiary of a retirement, investment or bank account or your life insurance policy.

What are Beneficiary Designation Gifts?

A beneficiary designation gift is a simple and affordable way to make a gift to support a United Methodist ministry in Mississippi. You can designate us as a beneficiary of a retirement, investment or bank account or your life insurance policy.

Benefits of a beneficiary designation gift
  • Support the causes that you care about
  • Continue to use your account as long as you need to
  • Simplify your planning and avoid expensive legal fees
  • Reduce the burden of taxes on your family
  • Receive an estate tax charitable deduction
How a beneficiary designation gift works
  1. To make your gift, contact the person who helps you with your account or insurance policy, such as your broker, banker or insurance agent.
  2. Ask them to send you a new beneficiary designation form.
  3. Complete the form, sign it and mail it back to your broker, banker or agent.
  4. When you pass away, your account or insurance policy will be paid or transferred to Mississippi United Methodist Foundation for UM ministry, consistent with the beneficiary designation.
Important considerations for your future

If you are interested in making a gift but are also concerned about your future needs, keep in mind that beneficiary designation gifts are among the most flexible of all charitable gifts. Even after you complete the beneficiary designation form, you can take distributions or withdrawals from your retirement, investment or bank account and continue to freely use your account. You can also change your mind at any time in the future for any reason, including if you have a loved one who needs your financial help.

Contact Us

If you have any questions about leaving a beneficiary designation gift to us, please contact us. We would be happy to assist you.

If you have already designated us as a beneficiary of an asset or as part of your estate plan, please let us know. We would like to recognize you and your family for your gift.

Charitable Remainder Unitrust

You transfer your cash or appreciated property to fund a charitable remainder unitrust. The trust sells your property tax free and provides you with income for life or a term of years.

What is a Charitable Remainder Unitrust?

You may be concerned about the high cost of capital gains tax with the sale of an appreciated asset. Perhaps you recently sold property and are looking for a way to save on taxes this year and plan for retirement. A charitable remainder unitrust might offer the solutions you need!

Benefits of a charitable remainder unitrust
  • Receive income for life, for a term of up to 20 years or life plus a term of up to 20 years
  • Avoid capital gains on the sale of your appreciated assets
  • Receive an immediate charitable income tax deduction for the charitable portion of the trust
  • Establish a future legacy gift to our organization
How a charitable remainder unitrust works
  1. You transfer cash or assets to fund a charitable remainder unitrust.
  2. In the case of a trust funded with appreciated assets, the trust will then sell the assets tax-free.
  3. The trust is invested to pay income to you or any other trust beneficiaries you select based on a life, lives, a term of up to 20 years or a life plus a term of up to 20 years.
  4. You receive an income tax deduction in the year you transfer assets to the trust.
  5. Our organization benefits from what remains in the trust after all the trust payments have been made.

Contact Us

If you have any questions about a charitable remainder unitrust, please contact us. We would be happy to assist you and answer any questions you might have.

Charitable Remainder Annuity Trust

You transfer your cash or appreciated property to fund a charitable remainder annuity trust. The trust sells your property tax free and provides you with fixed income for life or a term of years.

What is a Charitable Remainder Annuity Trust?

You may be looking for a way to receive fixed income for life or a number of years. You may be concerned about the high cost of capital gains tax with the sale of an appreciated asset. Perhaps you recently sold property and are looking for a way to save on taxes and plan for retirement. A charitable remainder annuity trust may offer the solutions you need.

Benefits of a charitable remainder annuity trust
  • Receive fixed income for life or a term of up to 20 years
  • Avoid capital gains tax on the sale of your appreciated assets
  • Receive an immediate charitable income tax deduction for the charitable remainder portion of your gift to Mississippi United Methodist Foundation for UM ministry
How a charitable remainder annuity trust works
  1. You transfer cash or assets to fund a charitable remainder annuity trust.
  2. In the case of a trust funded with appreciated assets, the trust will then sell the assets tax-free.
  3. The trust is invested to pay fixed income to you or any other trust beneficiaries you select based on a life, lives or a term of up to 20 years.
  4. You receive an income tax deduction in the year you transfer assets to the trust.
  5. Your specified UM ministry benefits from what remains in the trust after all the trust payments have been made.
More on charitable remainder annuity trusts

If you are tired of the fluctuating stock market and want to receive fixed payments, a charitable remainder annuity trust may provide you with the stability you desire. A charitable remainder annuity trust pays a fixed amount each year based on the value of the property at the time the trust is funded.

Contact Us

If you have any questions about charitable remainder annuity trusts, please contact us. We would be happy to assist you and answer any questions you might have.

Charitable Lead Trust

You fund a trust that makes gifts to us for a number of years. Your family receives the trust remainder at substantial tax savings.

What is a Charitable Lead Trust?

If you are looking for a way to pass on some of your assets to your family while reducing or eliminating gift or estate taxes, a charitable lead trust is an excellent option.

Benefits of a charitable lead trust
  • Receive a gift or estate tax charitable deduction
  • Pass inheritance on to family at a reduced or zero cost
  • Establish a vehicle from which you can make annual gifts to charity
How a charitable lead trust works
  1. You make a contribution of your property to fund a trust that pays income for a UM ministry or mission for a number of years.
  2. You receive a gift or estate tax deduction at the time of your gift.
  3. After a period of time, your family receives the trust assets plus any additional growth in value.

Contact Us

If you have any questions about charitable lead trusts, please contact us. We would be happy to assist you and answer any questions you might have and to provide you with an illustration demonstrating your specific tax benefits.

Sale and Unitrust

You give a portion of your property to us to fund a charitable remainder trust, when the property sells you receive cash and income for life.

What is a Sale and Unitrust?

Are your appreciated assets, such as stock, bonds or real estate, producing little or no income?

If you sell your appreciated assets, you will pay a large capital gains tax. A sale and charitable remainder unitrust may be the solution to avoid capital gains tax.

Benefits of a sale and unitrust
  • Receive cash from the sale. You can use this cash to purchase another residence, to save for retirement, to travel, to meet your daily needs or to meet some other financial goal
  • Receive income from the unitrust for the rest of your life and future retirement
  • Obtain an income tax deduction that may reduce your tax bill this year
  • Further the work of United Methodists in Mississippi with your gift
How a sale and unitrust works
  1. You establish a charitable remainder unitrust and transfer a portion of your assets to the trust.
  2. The assets are then sold. You receive cash from the sale, and the rest of the sale’s proceeds are paid to the charitable unitrust.
  3. The trust will provide you with income for the rest of your life.
  4. You receive a charitable deduction this year to offset your tax on the cash proceeds that you receive from the sale.
More on sale and unitrust

When transferring a portion of your primary residence to fund a unitrust, you may apply your one-time home exclusion to reduce or eliminate capital gains tax that would otherwise be due from the sale. Your tax advisor can assist you to determine if you should utilize this strategy.

Contact Us

If you have any questions about a sale and unitrust, please contact us. We would be happy to assist you and answer any questions you might have.

Bargain Sale

We purchase your property for less than fair market value. You receive cash and a charitable deduction for the difference between the market value and purchase price.

What is a Bargain Sale?

Do you have property that you would like to sell? Are you looking for a strategy to reduce your income taxes? A bargain sale might be the right strategy for you.

Benefits of a bargain sale
  • Avoid capital gains tax on your charitable gift
  • Receive a tax deduction that will reduce your tax bill this year
  • Take the cash received from the sale and reinvest it to create future income, save for retirement, buy new property or achieve other financial goals
  • Help Mississippi United Methodist Foundation further our important charitable work
How a bargain sale works
  1. You sell Mississippi United Methodist Foundation your property for a price less than fair market value.
  2. You receive cash from the sale.
  3. You can take a charitable deduction for the value of your gift which is the difference between the fair market value of the property less the sale price.
  4. While you may owe some tax on the sale proceeds you receive from Mississippi United Methodist Foundation, the charitable deduction from your gift could offset some, most or all of your capital gains taxes associated with the sale.
More on bargain sales

A bargain sale may be accomplished even if you have a mortgage on your property. Because relief from indebtedness can have tax implications, please consult with your tax advisor prior to completing a gift of a bargain sale.

Contact Us

If you have any questions about a bargain sale, please contact us. We would be happy to assist you and answer any questions you might have.

Give It Twice Trust

You provide your children with a stream of income while making a gift to charity.

What is Give It Twice Trust?

You may be looking for a way to provide your children with income while making a gift to Mississippi United Methodist Foundation for UM ministry. The “give it twice” trust is a popular option that allows you to transfer your IRA or other asset at death to fund a term of years charitable remainder unitrust. We call this kind of unitrust a give it twice trust because you can use the trust to pay income first to your family for a number of years and then distribute the balance of the trust to charity.

Benefits of a give it twice trust
  • Use the full value of your unused retirement account to provide income to your surviving spouse and to provide income to children or other loved ones for a specified period of time
  • Create an estate tax deduction and savings from the charitable gift
  • Support the important work of Mississippi United Methodists
How a give it twice trust works
  1. We can help you and your attorney with the process of creating a charitable remainder unitrust.
  2. You complete an IRA or other retirement account beneficiary designation form, naming the charitable trust as the beneficiary, and return the form to the account custodian.
  3. When you pass away, the custodian will transfer your retirement account to the charitable trust.
  4. The trust will pay income to your spouse, children or other individual beneficiaries for their life, term of years or life plus term of years.
  5. At the conclusion of the payments, the balance of the trust will be transferred to Mississippi United Methodist Foundation for UM ministry.

Contact Us

If you have any questions about a “give it twice” trust, please contact us. We would be happy to assist you and answer any questions you might have.

Life Estate Reserved

You give your property to our organization but retain the right to use the property during your life.

What is a Life Estate Reserved?

You may desire to leave your home or farm to Mississippi United Methodist Foundation for UM ministry at your death but would also like to receive a current charitable income tax deduction. A life estate reserved might offer the solution you need!

Benefits of a life estate reserved
  • Receive a federal income tax deduction for the value of the remainder interest in your home or farm
  • Preserve your lifetime use and control of your home or farm
  • Create a life estate based on more than one life. This will preserve the use of the property for you and a loved one, such as a spouse or dependent child
How a life estate works
  1. You deed your home or farm to Mississippi United Methodist Foundation. The deed will include a provision that gives you the right to use your home or farm for the rest of your life and that of any other life estate party named in the deed.
  2. You and Mississippi United Methodist Foundation sign a maintenance, insurance and taxes (MIT) agreement to explain that you will do your best to keep the property in good condition and that you will maintain property insurance and pay the property taxes.
  3. When the owners of the life estate have passed away, your home or farm will belong to Mississippi United Methodist Foundation. We will use or sell the property to further local UM ministry.

Contact Us

To learn more about a life estate, please contact us. We would be happy to assist you and answer your questions.