Your Guide to Year-End Giving
Your generosity makes a real difference in our community and beyond. There are many ways to give that can help the church while also providing you with valuable tax benefits.
Below, we'll walk you through different giving strategies that help support our ministry while offering tax and income benefits for you. Have questions? Reach out to Kathy Walker in our Finance Office at 248-625-1611 or kwalker@clarkstonumc.org. We'd love to help you explore how these options could work for your specific situation.
Current Gifts
These are gifts you make right now that have immediate impact. Choose the method that works best for you.
Cash is the easiest and most convenient way to give. We can put your gift to work right away, and you'll receive a valuable income tax deduction.
Benefits:
- ✓Immediate tax deduction
- ✓Simple and convenient
- ✓Immediate impact on church ministries
Giving stocks or bonds can offer even greater tax benefits. If you've owned securities for more than a year and they've increased in value, you can avoid capital gains tax and receive a tax deduction for the full market value.
Benefits:
- ✓Avoid capital gains tax
- ✓Deduction for fair market value
- ✓Tax benefit for appreciated assets
Donating real estate you've owned for more than a year gives you a tax deduction based on its current value, plus you'll avoid capital gains tax on the sale.
Benefits:
- ✓Charitable tax deduction
- ✓Avoid capital gains tax
- ✓Based on current property value
Everyone's situation is unique, so your specific tax benefits may vary. Contact us to learn how these options apply to you.
Gifts That Generate Income For You
These options let you support our mission while receiving income back—a great way to give generously while maintaining financial security.
Make a tax-deductible gift now to set up your fund, then add to it whenever you'd like. You decide when and where we distribute the funds to support causes you care about.
Benefits:
- ✓Immediate tax deduction
- ✓Flexible giving timeline
- ✓Support multiple charities
- ✓Add contributions anytime
If you're 70½ or older, you can transfer funds from your IRA to Clarkston United Methodist Church tax-free. If you're 73 or older, this also satisfies your required minimum distribution (RMD) without tax. You can even use up to $53,000 (once in your lifetime) to fund a charitable gift annuity and receive payments for life.
Benefits:
- ✓Avoid taxes on IRA transfers
- ✓Satisfy RMD requirements
- ✓Can fund charitable gift annuity
- ✓Up to $53,000 for CGA option
Planned Gifts
Planned gifts let you create a lasting legacy for future generations while still enjoying benefits today.
Here's a win-win option: you transfer cash or property to Clarkston United Methodist Church, and in return, you receive fixed payments for life at a rate based on your age. Plus, you get a charitable tax deduction and part of each payment may be tax-free. After you've received your lifetime payments, any remaining funds go to support the ministries you've chosen.
Benefits:
- ✓Fixed payments for life
- ✓Charitable income tax deduction
- ✓Portion of payments may be tax-free
- ✓Rate based on your age
A bequest is one of the most popular ways to leave a legacy. You can include Clarkston United Methodist Church in your will or trust, establishing your wishes today while keeping your assets available during your lifetime. We're happy to work with you and your advisors to create a plan that reflects your values.
Benefits:
- ✓Establish wishes today
- ✓Retain assets during lifetime
- ✓Support church for generations
- ✓Create lasting impact
Ready to Make a Difference?
Let's talk about how you can maximize your year-end giving. Contact Kathy Walker for a personal consultation about the options that fit your goals.
Please note: This information is educational and not meant to be legal or financial advice. We encourage you to consult with your financial advisor to determine what's best for your situation.
Questions About Giving?
Our Finance Office is here to help you explore these giving options and find the right approach for your situation.
For additional resources on charitable giving, you can also visit the United Methodist Foundation of Michigan