Give to the Endowment
There are several different ways to give 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.
When you contribute, you may wish to:
- Honor or Memorialize Someone
You can specify that your gift is made in honor or memory of someone. With your permission, that person will be listed, along with your name but not the dollar amount, on this page.
- Target Your Gift
You can direct that your gift be invested in one or more of five sub-funds – wherever you want your donation to have the most impact. The five sub-funds are:
- Capital Improvements – for the TVUUC building
- General – all-purpose
- Memorial Garden – care and maintenance
- Religious Education – any part of the RE program
- Social Concerns – projects or programs that address social concerns, including social justice.
Note: Gifts that do not specify a particular sub-fund are invested in the General sub-fund.
Give by Credit Card or Check
- Credit Card: Donate via credit card on this page. Next to the amount, use the drop-down menu to target the correct sub-fund for your donation, and use the memo line if you wish to honor or memorialize someone with your gift.
- Check: Make your check payable to TVUUC and put “Endowment” in the memo line. With the check, please include written instructions if you wish to target a particular sub-fund and/or honor or memorialize someone with your gift.
- QCD: 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. Schwab 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 any further instructions.
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.
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.
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.
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.