Transfer ownership of stocks, bonds, or mutual fund shares. Marketable Securities are a great way to maximize your giving because you receive an immediate income-tax deduction for the full fair-market-value of your securities. In addition, you pay zero capital gains tax on the difference between your cost and the fair-market-value.
Giving retirement bequests, trusts, etc. as part of your overall personal finance strategy. If you have planned in advance to give a gift as part of your overall personal financial strategy, we recommend that you discuss your decision with your tax and/or financial advisor.
- Life Insurance: You can simply name Victory Lutheran Church as a beneficiary.
- Retirement Assets: You can name Victory Lutheran Church as a beneficiary of your IRA, (401) k or other qualified retirement plan. Any amounts left in your plan will transfer to Victory Lutheran Church free of income and estate tax.
- Bequests: You can name Victory Lutheran Church in your will as a beneficiary and your estate will receive an income tax deduction for the value of your bequest. A bequest written in a will can be made for either a percentage or an amount.
- Charity Gift Annuity: Cash or marketable securities are transferred to a charitable organization in exchange for a current income tax deduction and the organization’s promise to make fixed annual payments to you for life.
- Charity Lead Trust: Cash or marketable securities are transferred to a trust, which makes fixed payments to the charitable organization over a specified period of time, then transfers the remaining assets to your heirs.