Gift Guide Chart
“Give to the Most High as He has given to you, generously, according to your means.” -Sirach 35:7-10
The chart below may help you find a way to give generously, but within your means.
| If you would like to: | Consider: | Other ways it may be a benefit: |
|---|---|---|
| Make a gift now | Donating cash | + Eligible for a charitable deduction, if your tax situation allows |
| Make a gift now without depleting cash reserves | Making an IRA Qualified Charitable Distribution | + Excluded from taxable income |
| Make a gift now without depleting cash reserves | Donating appreciated: Securities Real property |
+ Avoid capital gains + Eligible for a charitable deduction, if your tax situation allows |
| Make a gift now without depleting cash reserves | Donating grain or livestock | + Value is excluded from income and self-employment tax + Eligible for a charitable deduction, if your tax situation allows + Deductible production expenses |
| Make a gift now and in the future: use accumulated assets to grow a fund for giving | Creating a Donor Advised Fund | + Avoid up-front capital gains for appreciated assets + Eligible for a charitable deduction, if your tax situation allows + Avoid taxes on the fund’s growth |
| Make a gift that can be cashed now or will be a significant gift in the future for a modest cost | Naming a charitable owner and beneficiary for a paid up life insurance policy | + Eligible for a charitable deduction, if your tax situation allows |
| Make a significant gift in the future and still support yourself and your family | Making a bequest in a will or trust | + Retain control of your assets during your lifetime + Reduce potential estate taxes for your heirs |
| Make a significant gift in the future while continuing to make withdrawals | Naming a charitable beneficiary for your Retirement Plan Assets | + Reduce income taxes and potential estate tax for heirs + Pass other more favorably taxed property to your heirs |
| Make a significant gift in the future, while receiving lifetime income | Charitable Gift Annuity | + Avoid up-front capital gains tax on appreciated assets + Eligible for a charitable deduction, if your tax situation allows + Partially tax-free income + Could improve the return on your assets |
Implications of the 2018 tax law
2018 Tax Law and Charitable Gifts
Please consult with your own attorney and other professional advisors regarding your personal tax and financial situation.
