What is Planned Giving?
Embracing the opportunity to extend generosity beyond our earthly existence, planned giving stands as a powerful testament to thoughtful stewardship. At the Missouri Baptist Foundation, we have been helping Missouri Baptists give not only in the present but also in leaving a lasting impact for future generations.
Stewardship Planning For Kingdom Impact
Strategic planning in giving allows individuals to align their resources with causes close to their hearts. The result is a Kingdom impact that echoes far beyond one’s lifetime. By crafting a Stewardship Plan, individuals can ensure that their contributions are invested and given based on their values and beliefs, leaving an indelible mark on the ministries they believe.
Tax Efficiency And Potential Income
Missouri Baptist Foundation: A Legacy of Support
At MBF, our mission revolves around assisting individuals in giving more effectively to ministries that align with their values through tax-wise charitable gifts and estate planning. We can help walk you through planned giving strategies such as:
Gifts of Real Estate
Unlock the potential of your land or commercial real estate by exploring the numerous ways you can benefit through charitable planning. Making a gift of real estate not only offers an opportunity to sell property tax-free but also provides a unique avenue for increasing income and securing valuable charitable deductions, contributing to potential tax savings. As gifts of real estate can be complicated and have tax implications, please contact us for guidance.
Benefits of Gifts of Real Estate
Implementation through FLIP Unitrusts
How to Make a Gift of Real Property
IRA Charitable Rollover
By making a charitable gift from your Individual Retirement Account (IRA), you can leverage several advantages while supporting the mission of our organization.
Tax Efficiency
Conventional charitable gifts often face deduction limits, restricting the full extent of your generosity. However, an IRA charitable rollover transcends these limits, enabling you to make a gift that is not subject to deduction constraints. This flexibility empowers you to contribute meaningfully, unencumbered by the usual boundaries.
If you are 70 1/2 or older, you can also potentially avoid taxes on transfers of up to $100,000 for an individual or $200,000 for a married couple from your IRA to an organization. These funds are then channeled directly to the charitable organization, providing critical support for our initiatives. This act can also fulfill your IRA’s required minimum distribution (RMD), and potentially lower your adjusted gross income (AGI) for tax purposes. Cannot go into donor advised fund.
If you have any questions about an IRA charitable rollover gift, please contact us.
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Gifts of Cash
Empowering Immediate Impact
Your generous contribution in the form of cash can be a catalyst for immediate and meaningful change, fostering a direct and positive impact on our mission.
Cash donations provide the flexibility and immediacy needed to address pressing needs and seize timely opportunities within our mission. Your contribution becomes a catalyst for positive change, supporting ongoing initiatives and enabling swift responses to emerging challenges.
Beyond the immediate impact, gifts of cash offer the added advantage of a charitable income tax deduction. You can mail a check on December 31st, and even if it is processed in the following year, the IRS allows you to claim a deduction for the year in which the check was mailed.
How to Make a Gift of Cash
Gifts of Insurance
Your life insurance policy, once a safeguard for your family’s future, can evolve into a powerful tool for charitable impact. If your policy has outlasted its original purpose, such as providing for financially independent children, consider the profound difference it can make when redirected towards your church or ministry.
Reach Out to Our Team
Contact Your Insurance Provider:
Name Your Charitable Beneficiary:
Charitable Remainder Trust
Charitable Remainder Trusts (CRTs) tool involves making gifts, typically in the form of cash, appreciated stock, real estate, or closely held business interests, to establish a trust. In return, donors receive a current tax deduction, and the CRT pays income to the beneficiaries (usually the donors) for a specified period or for life. Upon the conclusion of the trust period, the remaining assets are directed to chosen charitable organizations.
By utilizing a CRT, donors can potentially avoid capital gains tax incurred upon the sale of appreciated property.
Charitable Remainder Annuity Trust
Charitable Gift Annuity
Donor Advised Funds
Are you a generous donor with a heart for making a difference? Using Donor Advised Funds (DAFs) as a giving tool can help.
Your gifts can take the form of cash or stock, you can contribute more than one year of giving to secure a tax deduction yet wish to spread your support over time. Your gifts can take the form of cash or stock.
At the Missouri Baptist Foundation we can handle the entire process for you. Upon receiving your gift, we issue the necessary gift substantiation letter and seek your guidance on which Christian Ministry you wish to support and when. We will also handle all record-keeping and communication with the chosen ministry, freeing you to focus on what matters most – making a positive impact.
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More Info Coming Soon
Bequests
A charitable bequest is one of the simplest and most impactful ways to leave a lasting legacy. By leaving a charitable bequest provision in your will or trust to direct a gift to your chosen church or ministry; you can qualify for an estate tax charitable deduction helping support your church or favorite ministry long after you are gone.
Bequest Options:
- Designate a percentage of your estate to support your chosen cause.
- Specify a particular dollar amount or asset to be gifted.
- Contribute the remaining balance of your estate after other distributions have been made.
- You can also give retirement assets, such as an IRA account.
Gifts of Stocks & Bonds
Giving a gift of stocks and bonds to your church or ministry not only supports your chosen organization but also allows you to bypass capital gains taxes on the appreciated asset.
How to Make a Stock Gift
1. Contact Us for Assistance:
Reach out to us to facilitate the stock gift process. Providing essential details about the stock, including the type and number of shares, as well as specifying the church or ministry you intend to support, allows us to guide you seamlessly through the process.
2. Complete the Gift Letter:
Utilize our sample gift letter to communicate your intentions effectively. In this letter, include details such as the name of the stock or fund, the number of shares, the beneficiary church or ministry’s name and address, and the approximate date of the transfer. The original letter should be mailed after faxing.
Talk to us and we can help and walk you through the process and provide sample process to your broker.
Electronic Transfer:
Contact us for delivery instructions to facilitate a transfer from your brokerage account to benefit your designated ministry.
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Gifts of Retirement Assets
Did you know that 50%-60% of your retirement assets may be taxed if you leave them to your heirs? Another option is to leave your heirs’ assets that receive a step up in basis (such as real estate and stock) and give the retirement assets to a church or Christian ministry.
Most people will end up not using all of their retirement assets during their lifetime. Unlock the potential of your retirement assets by considering a gift to support your church or ministry. This giving approach not only benefits your selected organization but also provides unique advantages related to your retirement accounts. Gifting retirement assets is a powerful way to create a lasting legacy that extends beyond your lifetime.
The Benefits of Retirement Asset Gifts:
By choosing to give a gift from your IRA, 401(k), or 403(b), you can optimize your charitable contributions while potentially minimizing your tax liabilities by potentially avoiding income tax on required minimum distributions (RMDs).
Contact Us for Guidance:
Whether it’s an IRA, 401(k), or 403(b), designate your chosen church or ministry as a beneficiary. Our team can provide assistance and guidance to ensure your retirement asset gift aligns with your philanthropic goals and distributions are made to your church or ministry.
In addition to distributions, you can also consider leaving a percentage of your retirement account to support the organization by designating it as a contingent beneficiary.
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