Planned Giving
A planned or legacy gift is a donation that is designated for an organization at a future date, often at the time of death through a will. This gift is made through a formal financial or estate plan.
legal name:
tax ID:
Court Street Christian Church of Salem
93-0446514
Bequest
What it is:
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A gift given after your passing
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How to set it up:
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In your will or trust, you add specific wording to make a gift of cash or a share of your estate after your passing. Talk to an attorney specializing in estate planning. Court Street hosts periodic Estate Planning workshops through Financial Planning Ministries; freewill.com is another resource for creating a will.
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The Benefit to you:
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You defer a gift until after your passing and that gift is tax-exempt from federal estate taxes.
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Donor Advised Funds
What it is:
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A Donor Advised Fund is an investment account with the purpose of contributing to a specific charity.
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How to set it up: ​
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You choose an organization to manage your account. (The options below are just a few of many available – check with your financial advisor or investment company for other recommendations.) Then you contribute cash or other assets to that account. Your contribution grows, just like any other investment. When you’re ready, you let the organization know that you want to grant the money to a specific charity.
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The Benefit:
You receive an immediate tax deduction.
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Employer Matching Programs
What it is:
Many employers have programs in which they match any employee donation to charities.
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How to set it up: ​
Talk to your employer to see if this program exists at your company. Benevity.com is a common site that employers use to set up a program.
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The Benefit:
Your gift is doubled!
Qualified Charitable Distributions (QCDs)
What it is:
QCDs are transfers from an IRA to a charity, up to $100,000 each year. QCDs can be made by anyone over the age of 70 ½.
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How to set it up: ​
Contact the trustee or custodian for your IRA - QCDs must be made directly from the IRA to a charity.
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The Benefit:
While distributions from a traditional IRA are normally taxable, QCDs are excluded from gross income, which can lower your tax burden. They also can count toward your annual required minimum distribution (RMD) after age 73.