Give to the Endowment
There are several different ways to contribute to the TVUUC Endowment Fund. All donations are eligible for a tax deduction, but you may wish to consult your attorney or accountant on this point and on the more complex gift instruments listed here.
PLEASE NOTE: We ask that all gifts be accompanied by the Donor Information & Instructions Form. This will help us process your gift according to your wishes.
Direct Cash Gift
1. Donate via credit card at https://onrealm.org/tvuuc/-/give/now. Next to the amount, in the “Fund” space, use the drop-down arrow and the slide bar to select “Endowment Fund.” After making the payment, please download and fill out the Donor Information & Instructions Form and then email it to us.
2. Write a check to TVUUC with “Endowment” in the memo line. Mail the check to the church office along with the Donor Information & Instructions Form so we know how to treat your donation.
3. Make your donation through a Qualified Charitable Distribution. If you have a traditional IRA, and if you have reached age 70-1/2, you are required to withdraw a certain percentage of your holdings each year. This is the Required Minimum Distribution (RMD). You can have the custodian of your IRA (e.g. TD AmeriTrade or Vanguard) pay a portion of your RMD to the church. This is called a Qualified Charitable Distribution (QCD).
Ask the custodian to make the check payable to TVUUC and have them mail the check to you. Write “Endowment Fund” in the memo line and convey the check to the church along with the Donor Information & Instructions Form.
Example: By IRS formula, Blake this year is required to withdraw $5,000 from his IRA and include that amount in his gross income. However, he wants to donate $250 to the TVUUC Endowment Fund. He directs the custodian of his IRA to issue a $250 check to TVUUC. Because TVUUC is a 501-c-3 tax-exempt organization, he does not have to pay tax on that amount. This reduces his taxable RMD for the year to $4,750, thereby reducing his taxable income.
Direct Gift of Stock or Real Estate
Some donors may find it advantageous to contribute to the Endowment Fund by gifting a long-term capital asset such as stock or real property. Please consult the Endowment Fund Committee and your attorney or accountant before proceeding with this option.
A bequest is a way for someone to give assets — such as cash, stocks, bonds, and personal property — through their will. Any potential donor who has a will or living trust, regardless of age, the size of their estate, or the amount of their gift, can make a charitable bequest. Consult your attorney when you write or amend your will or trust.
Qualified Asset Beneficiary Designation
When a potential donor names another person as the beneficiary of an IRA or other qualified retirement investment, the asset will be exposed to income taxes when the beneficiary receives the proceeds. Instead of naming another person as the individual beneficiary, a donor can name the Endowment Fund of the church, which is not required to pay taxes. Consult your attorney or accountant before proceeding.
Charitable Life Insurance
To utilize a life insurance policy to donate to the Endowment Fund, you can:
- Transfer ownership of an existing life insurance policy to the Fund.
- Cash out a current policy and give the proceeds to the Endowment Fund.
- Purchase a new life insurance policy and name the Fund as the owner and beneficiary.
- Designate the Endowment Fund as the beneficiary of a life insurance policy you continue to own.
Consult your attorney or accountant before proceeding.
Retained Life Estate
In this arrangement, donors deed an interest in their primary residence, vacation home or farm to the Endowment to begin after their deaths. This arrangement allows them to maintain ownership of the property and continue living there for the rest of their lives. After the donors die, the property belongs to the Endowment without the need for a probate proceeding. Tax benefits include income tax deductions, gift tax deductions, and estate tax deductions. Drafting a deed to achieve maximum tax benefits can be complex. Consult an attorney or accountant before proceeding.