Most people are familiar with giving gifts to charity in their lifetime. Do you know that your gift to the IPC Foundation may outlive you, continuing ministry efforts into the future? There are a variety of ways you can support the IPC Foundation. Choose the planned giving option that is right for you. By investing a legacy gift, donors will help perpetuate kingdom growth all over the country, by way of new churches, new ministers, or leaders to serve beside them.
A donor can make a big difference with just a little effort. Don’t overlook beneficiary designations. Retirement plans, IRAs, and life insurance are not controlled by the terms of your will, but instead use separate beneficiary forms to determine who receives them. Beneficiary forms are an effective and easy way to leave a legacy.
For more information about the Foundation or how to give a legacy gift, please contact the Executive Director, Suellen Warren, at swarren@ipcmemphis.org.
If you would like to leave a gift after your lifetime, consider a tax-wise gift from your retirement plan or IRA. Many people do not use all their retirement assets during their lifetime, and those unused assets can be used to make a gift to the IPC Foundation. Ask your plan administrator to provide you with the appropriate forms. Name the IPC Foundation as a beneficiary on your plan’s beneficiary designation form. Because charities do not pay income taxes on the donations they receive, distributions to charities will avoid being taxed as income. Be sure to inform us of your plans so that your gift is used according to your wishes.
You can name a charity such as the IPC Foundation as a beneficiary of your life insurance policy. If you have a life insurance policy that you no longer need, why not use the insurance policy to support future ministries? You can designate the IPC Foundation as the beneficiary for any percentage of your life insurance policy’s death benefit. Simply contact your life insurance company or agent to request a beneficiary designation form. By making the IPCF aware of your plans, we can direct the proceeds based on your ministry goals.
You may be able to make your ministry dollars go further by donating appreciated securities, such as publicly traded stock, bonds, or mutual fund shares. Appreciated securities are investments that have increased in value from the time they were purchased. Some individuals and households may be able to take advantage of IRS tax provisions to claim a charitable tax deduction for the full, fair market value of the securities, and you may avoid paying capital gains tax on the transfer.
A gift of stock made before December 31 of a calendar year may reduce your tax burden for the year you give. Your financial advisor can explain the possible tax benefits depending on whether the stock has appreciated or lost value since the time you acquired it.
Oftentimes, wills are put in place early in life especially when children arrive but then go untouched and not updated as children age and your estate changes. Professionals advise that wills and estate planning be reviewed about every five years. A change in circumstances or a review of your will can give you the opportunity to include the IPC Foundation in your estate planning. If you have certain ministry causes that are important to you, make us aware, so that we can channel your gift as you would like for it to be used.
Your outright gift of cash or check helps the IPC Foundation and may provide you with a tax deduction. Cash contributions include donations made by cash, check, electronic funds transfer, online payment services, debit cards, credit cards, or payroll deduction that can be redeemed for cash.
If you have other assets such as real estate or personal property that you would like for the IPC Foundation to consider as a donation, let us know. We are happy to talk with you about your wishes and ministry goals and how they could impact our mission.
You can contact the Executive Director, Suellen Warren, at swarren@ipcmemphis.org.
Always consult your tax advisor for confirmation of your specific gifting desires.