Ways to give
At WoodsEdge, we want to provide opportunities to invest in Kingdom growth, leveraging the maximum effectiveness for your donations. Below are a few ways to stretch your contributions while meeting your financial goals.
Donating Appreciated Securities – Rather than liquidating securities and donating proceeds (and paying out taxes on the proceeds), there is a much more effective way to give to WoodsEdge by donating appreciated securities directly. You can deduct the fair market value of any securities given to the church. This strategy enables you to enhance your donation to the church by the amount of the taxes that would have been due had you sold the securities in the first place.
Qualified Charitable Donation (QCD) – For those donors who are 70 ½ or older, there is an opportunity to make a direct transfer from your IRA (401k transfers are not eligible) up to $100,000 annually. This method also makes it possible to make more impact as a donor since it will not contribute to your Adjusted Gross Income (AGI). As an additional incentive, QCDs contribute towards satisfying your required minimum distribution.
Donor Advised Fund (DAF) – A DAF is a charitable savings account where you can contribute to the account as often as you want and then make donations from the account whenever you are ready. You get a tax deduction when you contribute to the account, not when you make a distribution to the church. You can also donate appreciated securities to the account and realize the same benefit discussed above. Since the standard deduction under the new tax law has increased to $12,000 for singles and $24,800 for marrieds, accumulating donations to a DAF in a single year may allow you to realize the benefit of a charitable tax deduction whereas you may not otherwise qualify.
Please consult with a tax advisor to ensure your individual financial strategy works best for you. Should you have any questions about charitable giving, please contact us at .