Memorial gifts: Creating a legacy - Oklahoma United Methodist Foundation insights

11/22/2013

Make a current gift through an IRA rollover

If you are over age 70½, the federal government permits you to roll over up to $100,000 from your IRA to a charity without increasing your taxable income or paying any additional tax. These tax-free rollover gifts could be $1,000, $10,000, or any amount up to $100,000, and can satisfy your required minimum distribution.  

The IRA rollover gift is a simple and easy way to give to your local United Methodist church or favorite United Methodist ministry while not increasing your taxable income.

To participate in the IRA charitable rollover, contact your IRA custodian and request an amount be transferred to the Oklahoma United Methodist Foundation for benefit of your United Methodist cause. Your church will receive a nice gift; you avoid any additional tax and satisfy your required minimum distribution for the year.

Contact the Foundation at 800-259-6863 for more information.  

There are many ways to make a gift in remembrance of someone special that will have meaningful significance for years to come for your local United Methodist church or favorite United Methodist cause. Here are a few options to consider:

A memorial gift of cash or property

A gift of cash is one of the simplest ways to remember your loved one or a friend. This gift can be made to your church’s permanent endowment fund, to a memorial fund, or to a specific ministry dear to your loved one. When you make your gift, please designate the person you wish to remember.

If you are making a memorial gift of appreciated stock or real estate, your tax deduction may depend on the type of property gifted. Call the Oklahoma United Methodist Foundation for more information on giving appreciated stock or real estate, or visit the planned giving section of our website at www.okumf.org.

Make a deductible gift and receive life income

You may wish to make a memorial gift while providing current life income for yourself. With a memorial gift annuity, you make a gift of your cash or appreciated property in honor of someone and we will pay you fixed income for life (with rates based on your age). You receive a charitable deduction for the value of your gift. After your lifetime, the gift annuity will be used for mission and ministry by funding an endowment for your United Methodist church or favorite ministry. You will create a legacy for your loved one.

Make a bequest

You may consider making a memorial gift in the future. By directing a gift be made in memory of your loved one in your will or trust, you can continue their legacy.

Any of these methods are ways in which you can remember your loved one and create a lasting memory. Contact the Foundation at 800-259-6863 or visit www.okumf.org  for more information on memorial giving.


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