Ways to Give

The many ways to give and the life income plans described below are best understood with specific personalized information. Please contact us to receive a no-obligation illustration of the plan that appears most appropriate for you.

The following charitable ways to give and charitable life income plans are available through and encouraged by the Lutheran Planned Giving Consortium.

BEQUEST: The most common of all deferred giving plans. Please make sure you have a will for the sake of your loved ones. Bequests may be made in your will using a percentage, a specific amount, a specific property, or the residual of your estate. Click here. http://www.elca.org/fo/wills.html

PRE-TAX RETIREMENT PLANS: Qualified Retirement Plans (or QRPs) are great ways to save for retirement. Accumulations build up tax-free until you need them for retirement. But when you go to take the money out – or worse yet, try to pass the accumulated value on to your heirs – your qualified plan can become an “IRA –an Internal Revenue Account.”

Qualified Retirement Plans are great vehicles for making charitable gifts. It’s quite possible that by using your qualified retirement plan to make a significant gift, your favorite ELCA ministry can actually be leaving more of your estate to your heirs and less to estate taxes. You haven’t ever paid taxes on funds in your 401(k) or other tax-deferred retirement plan. This means, any person you leave it to will have to pay taxes on this income (not estate tax – income tax). If you plan to leave a gift for ministries, you can receive the beneficiary designation form from your plan administrator (usually it’s on their website) and leave whatever percent you want to ministries you love, rather than from funds that have already been taxed. This helps your money go further to where you want it to go. Your spouse will need to sign the form, and it should be notarized.

LIFE INSURANCE GIFT: The easiest way for you to make a gift of life insurance is to include a percentage to your favorite ministry choice as part of the primary beneficiary designation. Ask your insurance representative for help.

You can also make substantial gifts to your favorite ministry by purchasing a new policy or transferring ownership of an existing policy that you no longer need. You can transfer the policy to make the Evangelical Lutheran Church in America or an LPGC partner the owner and irrevocable beneficiary. After you have done that, premiums paid by you to continue coverage are tax deductible if you itemize your tax deductions.

GIFTS OF STOCK.: When you give appreciated stock which you have owned for at least 12 months to ministry, you by-pass capital gains tax and receive an income tax deduction if you itemize. When you use the services of the ELCA Foundation to give stock to your congregation or other ELCA ministries, you pay a reduced fee on the stock transfer and sale, thereby maximizing your gift. (For more information about giving stock, click here. http://www.elca.org/fo/stock.html )

CHARITABLE GIFT ANNUITY: You make an irrevocable gift of at least $1,000 cash or marketable securities for a Lutheran Planned Giving ministry of your choice. In return, you receive an agreement that the ELCA will pay income back to you (one life) or you and your spouse (two lives). The older you are when you make the gift, the higher the rate is you receive back. You receive an income tax deduction now if you itemize deductions, and part of the payments you receive are tax-free. You select the charitable beneficiaries to receive the remainder of the annuity at the death of the final individual income beneficiary. (Click here http://www.elca.org/fo/annuity.html  for more information about Charitable Gift Annuities.)

DEFERRED PAYMENT CHARITABLE GIFT ANNUITY: You make a gift of at least $1,000 cash or marketable securities for an LPGC partner of your choice. In return, you receive an agreement that the ELCA will pay income back to you (one life) or you and your spouse (two lives). The payments are deferred to start at a later date, such as retirement. This is an especially good tool for retirement planning, as there is no limit to the amount of the gifts that may be made into this type of plan. You receive a current income tax deduction now to be used if you itemize deductions. You select the charitable beneficiaries that will receive the remainder of the principal at the death of the final income beneficiary.

CHARITABLE REMAINDER TRUST: You make an irrevocable gift of $100,000 or more of cash, real estate, or marketable securities into a charitable remainder trust. Individual income beneficiaries receive a faxed percent of the trust's value each year. This is particularly appropriate for gifts of highly appreciated assets because of the bypass of capital gains. You receive a current income tax deduction now to be used if you itemize deductions. You select the charitable beneficiaries that will receive the remainder of the trust at the death of the final individual income beneficiary. You can make additional gifts. Click here. http://www.elca.org/fo/trust.html

CHARITABLE LIFE ESTATE AGREEMENT: You may irrevocably deed your ownership in your mortgage-free residence to the ELCA. You will receive a charitable income tax deduction for the fair market future value of the home if you itemize deductions. You will be responsible for the upkeep and well-being of the residence while you continue to live there. When you die or no longer wish to live in the residence, the ELCA Foundation will sell the property, and the proceeds will go to the charitable beneficiaries you selected. There is no income generated by this gift.

TESTAMENTARY CHARITABLE REMAINDER TRUST: You can set up a trust during your life and fund it upon your death, thus you don’t receive any tax benefits during your lifetime. You can designate funds (minimum of $100,000) from your estate or qualified retirement plan to set up a testamentary charitable remainder trust for individual income beneficiaries of your choosing, who will receive a guaranteed percentage. This plan can help with your estate taxes. The charitable beneficiaries you select will receive the remainder at the conclusion of the trust period.

PAYABLE ON DEATH: You tell your financial institution where you would like your assets to go (IRA's, CD's, TSA's, TDA's, employee savings plans, etc.) upon your death. You can list a favorite ministry to receive a portion.