Oklahoma United Methodist Foundation insights -- Year End Gifts

10/21/2011

The year is quickly coming to an end, and 2012 will be here before we know it. Many times we get caught up in the holiday season and planning for the next year, and we forget about making year-end gifts to our churches and beloved United Methodist ministries.

These gifts, large and small, are important to ministry. They can be as simple as giving an additional amount to your church’s permanent endowment fund or missions fund, or supplementing special projects or programs your church is already doing.

Thoughtfully addressing your charitable giving plans between now and Dec. 31 can help assure maximum benefits for both you and your church or favorite ministry. Carefully considering what to give, and when to give it, can increase the impact of your gifts and help meet personal goals as well.

There are a number of ways to make year-end gifts that provide you with valuable benefits and help further the work of your favorite United Methodist cause.

Make a deductible gift of cash

While all gifts mailed or hand-delivered by Dec. 31 qualify for the charitable deduction, gifts of cash are the most common and the easiest way to give. If you itemize your tax deductions, gifts of cash are deductible up to 50 percent of your adjusted gross income (AGI).

Make a deductible gift of securities

Making gifts of stocks, bonds, and/or mutual funds directly to the Oklahoma United Methodist Foundation for the benefit of your church can bring extra tax savings. If you have held such assets longer than one year, the gift can be deductible at full fair-market value, not just the original cost. Giving this way enables you to bypass capital gains tax. Gifts of securities are deductible up to 30 percent of AGI.

Make a deductible gift of real estate and avoid taxes

If you own appreciated real estate that you no longer need, consider gifting this property to the Foundation for the benefit of your cherished United Methodist cause. The Foundation will sell your property tax-free, and you will receive a charitable tax deduction for the fair-market value of the property and avoid paying capital gains tax.

Charitable gift annuity and charitable remainder trusts

If you are looking for ways to make a tax-deductible gift this year and increase your income for retirement or the future, you might consider a charitable gift annuity or charitable remainder trust.

With a gift annuity, you make a gift of cash or appreciated property to the Foundation and we pay you fixed income for life (with rates based on your age). You receive a charitable deduction for the value of your gift and a portion of your payment could be tax-free.

If your gift is made to fund a charitable remainder trust, you can receive income monthly, quarterly, or annually. With growth in the trust, your income stream may also grow over time. You receive a charitable deduction for your gift this year and avoid paying capital gains tax on the sale of your appreciated assets. (The trust sells these for you tax-free.)

Contact the Foundation at 800-259-6863 for more information on year-end gifts.

We also have complimentary, customizable, year-end giving brochures available for churches and ministries. Call Kristin at the Foundation to request your year-end giving brochures.


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