Our life and mission here on earth is the Great Commission itself—and doing what we can to see the Gospel of Jesus Christ shared with every person who needs to hear it.
Understanding current tax laws can open a whole new world of generosity for you and compound gifts for the ministries you care about, like Lutheran Hour Ministries. You just need the right tools. Smart giving tools make it easy to reduce your tax burden and support a favorite nonprofit like LHM as the end of the year approaches.
The following strategies are a few ways that can provide you with tax savings and allow you to make a significant gift to support our work this year.
Outright gifts of appreciated assets
Gifts of appreciated assets such as securities or real estate are an excellent way to help support LHM's mission and provide you with numerous benefits:
- Receive an income tax deduction, based typically on the asset's fair market value
- Avoid federal and state capital gains taxes
- Avoid the Affordable Care Act Medicare tax
Life insurance gifts
Making a gift to LHM of your old, unneeded, or obsolete life insurance policy can provide you with the following benefits:
- Receive a charitable income tax deduction
- Reduce your taxable estate
- Preserve your cash and savings
Charitable life income plans
If you own low-yielding assets and are seeking a higher income, a charitable life income gift such as a charitable gift annuity or charitable remainder trust may be worth exploring. In exchange for your charitable gift of cash or appreciated securities, you reap multiple benefits:
- Receive payments for your lifetime(s)
- Generate a current income tax deduction
- Bypass all or a portion of the capital gains on appreciated assets
- Enjoy increased financial security
Charitable life estates
If your estate plans include leaving your residence (home, farm, vacation home) to charity, you may wish to create a charitable life estate arrangement. You can make a gift to LHM of your property today and receive the following benefits:
- Current income tax deduction
- Life use and enjoyment of the property
- A lasting legacy to further LHM's mission
Qualified Charitable Distributions from an IRA
For years, you have been able to direct your IRA administrator to send money to your favorite nonprofit, like LHM, as a qualified charitable distribution (QCD). You now have four choices for your qualified charitable distribution:
- Fund a charitable gift annuity and receive payments for life
- Fund a charitable remainder annuity trust and choose fixed payments in an amount you choose for life
- Fund a charitable remainder unitrust and receive payments for life
- Make an outright gift to our organization
Have you already included LHM in your will and have not shared this decision? Let us know! You are a member of The Hoffmann Society, a faithful group of more than 2,000 individuals who have professed that they want to support the cause of sharing Christ's Name during their life and after they go on to their eternal glory.
When you match your will to your personal values of faith, love, and family, you'll experience peace knowing your affairs are in order and that they reflect your heart. Visit lhm.org/christianwill today to find your place on the legacy journey.
For more information, contact LHM's gift planning staff online at lhm.org/giftplan, by email at lhm-gift@lhm.org, or over the phone at 1-877-333-1963.