1. Tax Implications
a. Deductions for charitable giving…federal and state – standard vs itemized deductions (Schedule A)
b. Types of income – ordinary and capital gain income (Form 1040 - others that we could go into)
2. Cash (checks, electronic transfers from bank accounts or credit cards, wire transfers, etc.)
3. Appreciated securities (stocks and bonds)
a. This requires the church to have an investment vehicle (account) to accept the stock/bond
b. Specifics of how the gift of appreciated securities works
c. Tax benefits
4. Qualified Charitable Distribution (QCD)
a. From IRA account – payment must be made directly to charity
b. Only available for IRA owner who is over 70.5 years old
c. Limited to $100k per year
d. It can be used to offset individuals' required minimum distribution
5. Donor-advised fund (DAF)
a. Allows accumulation of charitable funds for tax purposes – then pays out funds as desired by account owner
b. DAF sends funds directly to the charity
6. Through estate
a. Pass by will or trust
b. Pass by the beneficiary (IRA, Roth IRA, insurance/annuity)
7. Other strategies to be aware of
a. Charitable “bunching”
b. Sophisticated charitable strategies – charitable trusts, family foundations, etc.
c. Community foundation resources
d. Non-liquid assets – pros, and cons