Naming Time of Grace in your will (a Bequest)
Wilbert and Gertrude lived full lives, but Gertrude was called to heaven nine years before Wilbert. He watched Time of Grace whenever he couldn’t get a ride to church. Wilbert was able to manage his own investments until his death at age 96, and he used his will to make a simple bequest to several churches, schools, charities, and to Time of Grace upon his death. Wilbert made a percentage (%) bequest to the ministry, which is the simplest and most used mechanism to give a gift to charity. With part of Wilbert’s bequest, Time of Grace established an Outreach Fund to support long-term ministry opportunities.
Using a Beneficiary Designation to make a charitable gift
Ralph grew up and lived his entire life in West Bend, Wisconsin. He spent his working career at the West Bend Company. In the last few years of his life, he watched Time of Grace every Sunday. Ralph had set up an annuity through his Thrivent representative and declared Time of Grace a partial beneficiary of his annuity, to be paid upon his death. When Ralph died in 2015, the share was transferred to Time of Grace. Time of Grace used part of this gift to set up an Outreach Fund to support long-term ministry opportunities.
Giving a Qualified Charitable Distribution from an IRA
Arvid and Judy are over age 70½. They are able to make a Qualified Charitable Distribution (QCD) from their IRA. This transfers money from their IRA directly to Time of Grace. It serves as their minimum required distribution (RMD) from their IRA. In this way, Arvid and Judy are able to satisfy the federally required annual withdrawal from their IRA and provide for Time of Grace’s ongoing ministry. They can avoid taxes on transfers of up to $100,000 from their IRA to Time of Grace and make a gift that is not subject to the 50% deduction limits on charitable gifts.
Establishing a Donor Advised Fund
Tim and Polly established a Family Legacy Fund as one of the ways to support their philanthropic goals. The fund was established as a donor advised fund through a foundation (these are sometimes referred to as charitable funds).
They can make gifts to the fund at the time of their choosing; the typical gift is appreciated stock. Upon transferring the asset to the fund, they receive a charitable tax deduction. Then they can request grants from the fund to support their favorite charities. It is a simple, flexible, and convenient way to meet some of their goals.
One of the other benefits for Tim and Polly is the opportunity to get their two daughters, along with their sons-in-law, involved in the process. It is a way of showing them how to use the blessings God has poured out on them to help others. In 2015 their Family Legacy Fund made a lead gift to start Grace Talks.
Establishing a Charitable Remainder Trust (CRT)
Dave and Cath regularly donate to Time of Grace but had a need to shelter some stock gains from taxation.
Dave: Time of Grace is the most outstanding, relevant presentation of the gospel we’ve ever seen.
Cath: It’s timely and gets into the matters of real life.
Dave: Pastor Jeske [first Time of Grace lead speaker] helps us realize we are not solo; we are together in this fight against sin.
Giving a Gift of Real Estate
When Nathanael Lutheran Church sold its sanctuary, members sought a way to forward the cause of the good news of Jesus. They turned to Time of Grace and gave a $100,000 gift from the sale of their property. That gift helped to launch Time of Grace into the digital age, helping to usher in the short video format that is now Grace Talks and spearheading ministry advances into social media. Closing a deal on real estate spurred Time of Grace’s digital transformation.