Planned Giving

Planned Giving

Continue Your Legacy By Funding Our Mission

One of the major benefits of planned gifts is that they promise future funding for Friends in Action and a continuing legacy for you! There are many ways to give a planned gift. Explore some of the options below to see which ones might be right for you!

 

Charitable Gift Annuity

Many seniors make a substantial gift to FIA that provides a generous fixed annuity for life that also comes with helpful tax benefits! Using appreciated stock for this gift also avoids the impact of capital gains tax. You may make a gift of $10,000 or more with cash or appreciated stocks—part of which is tax-deductible—and receive fixed annuity payments for life or for an agreed term. The remainder of your gift goes to support the work of FIA at the end of the annuitant(s) lifetime or at the end of the agreed term. Payment rates will vary depending on the number of annuitants, the age of the annuitants, the gift date, and the date when payments begin. You may receive payments on an annual, semi-annual, quarterly, or monthly basis.

Charitable Trust

Give to FIA through a remainder trust, in which FIA receives all remaining assets after a specified length of time. Or set up a lead trust, in which FIA receives an income stream for a set number of years, after which the remainder goes to other designated beneficiaries. Setting up a charitable trust is a simple, straightforward way to donate assets to FIA while retaining many of the benefits you gain by holding those assets during your lifetime. You can provide income for a set time period (typically a max of 20 years while the remaining assets automatically go to FIA). This removes assets from your estate to reduce your tax liabilities while diversifying your portfolio and helping you to avoid capital gains taxes.

Endowments
Donors interested in providing lasting support and stability should consider giving toward an endowment to benefit FIA.

Endowments are funds that FIA sets aside in investments where they accrue value to ensure the long-term financial stability of the organization. An organization with an endowment to rely on is better prepared to weather economic, social, and political shifts. This way operational and developmental initiatives are supported not just for one year or even one generation, but are provided for indefinitely through annual distributions to undergird core processes and expanding impacts. Choose where you’d like your investment to be applied: operational costs, research and development of new fields, or specific project giving. Investing in an FIA endowment ensures the long-term success of our ministries and creates a lasting legacy that speaks of your heart and values.

IRA Beneficiaries
If a donor dies, their heirs pay income taxes on monies they withdraw from any IRA they have inherited. But if FIA inherits the IRA instead, then all withdrawals are tax-free (which means more money reaches the projects and people the donor supports!)
IRA Conversions

Donors possessing traditional Individual Retirement Accounts (IRS) may wish to convert them to Roth IRAs, which offer significant tax benefits. Conversions come with tax liabilities which can be offset through an itemized charitable deduction to FIA!

IRA Required Minimum Distribution
If a donor is older than 70-1/2, you can donate up to $100,000 a year from a traditional IRA to FIA (excluding donor-advised funds) and thus reduce your taxable income. Starting this year, donors can also make a one-time $50,000 donation to a charitable remainder trust or charitable gift annuity.
Make A Will
Making a will allows you to make decisions for the benefit of your family and to follow the Lord’s leading with all He has entrusted to you. A will can leave a lasting legacy for those you love and inspire future impacts. An up-to-date will can offer peace of mind as you put in place a plan for blessing your family and the ministries you love. Perhaps the largest gift you’ll ever give can be prepared thoughtfully and managed efficiently. And it’s easier than you think. You can name FIA as the beneficiary in your will just as you can name people beneficiaries. Because you can name more than one beneficiary, you can divide the proceeds among your loved ones and FIA. The percentage of the payout FIA receives is up to you.
Portfolio Rebalancing
“Rebalancing” means diversifying a portfolio by selling off high-performing assets to buy others so there’s a greater mix—and thus less exposure to market fluctuations. Using a part-gift, part-sale strategy, you can reduce the tax impact of rebalancing while blessing FIA!
Retirement Account
A withdrawal from a standard, non-Roth tax-deferred account usually incurs some tax liability. If you are over 59-1/2 years old, an itemized charitable gift to FIA can offset this liability.
Tax-Loss Harvesting
Make the most of your losses! Let God bring redemption in your midst through tax-loss harvesting. If the value of non-cash assets has dropped below their purchase price—as many stocks have this past year—the holder can sell those securities at a loss, then use those losses to offset capital gains on other assets and/or up to $3,000 of ordinary income. The donor can then claim a charitable deduction for having donated the cash from the sale.

The content found on this site is general in nature and intended to be used for informational purposes only. It should not be relied upon as legal, tax, accounting, or other professional advice. To determine how a gift or estate planning decision might affect your particular circumstances, it is expressly recommended that you consult an attorney, financial advisor, or another qualified professional. Friends in Action makes no representations or warranties as to the accuracy or timeliness of the information contained herein.

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