Gifts of non-cash assets and other tax-advantaged giving strategies can maximize your impact on the ELCA ministries you care about while offering significant financial benefits. Here are some options to discuss with your CPA or other allied professionals in the coming weeks:
Appreciated Securities: Donating appreciated securities, especially with markets at an all-time high, can help you avoid capital gains taxes, provide an income tax deduction, and help with rebalancing your investment portfolio – advantages that, in combination, a cash donation cannot offer. Use our calculator to explore your potential savings.
Qualified Charitable Distributions (QCDs): If you’re 70½ or older, you can give directly from your traditional IRA to charity, reducing your taxable income while supporting ministry. A QCD gift may also help reduce your Medicare premiums.
Donor Advised Funds (DAFs): Simplify your giving by contributing to a DAF. You’ll receive an immediate tax deduction while supporting multiple organizations over time. A DAF is also an excellent way to involved family members in your philanthropy and express shared values.
Real Estate: Donating property can be a highly impactful way to give, often eliminating capital gains taxes and providing a substantial charitable deduction.
Beneficiary Designations: Naming an ELCA ministry as a beneficiary of your life insurance policy or retirement plan is an easy way to leave a lasting legacy.
Charitable Remainder Trusts (CRTs): These trusts allow you to receive income during your lifetime while leaving the remainder to the ministries you love.
Align your financial goals with your giving goals while enjoying powerful tax advantages. Your regional gift planner is ready to help you maximize your generosity and create a lasting impact.