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Planned Giving

Planned Giving

%PM, %16 %811 %2012 %18:%Aug Written by 
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Did you know Concordia's very existence is the result of a planned gift of land made in 1881? Planned gifts offer you the opportunity to:

  • Create a personal legacy at Concordia
  • Earn income and lower taxes
  • Reduce estate taxes for your heirs

When considering a planned gift, please consult your financial and legal advisors for specific estate and income tax benefits you may receive. We welcome the opportunity to work with you, your family and advisors to develop a plan that is mutually beneficial to you and Concordia.

Here are some examples of Planned Giving options at Concordia.

Wills/Bequests
Concordia has been the beneficiary in many estate plans over the past 130+ years. This is the most commonly used method of making a planned charitable gift. A bequest is private, inexpensive, able to be changed anytime and does not deprive you of any asset or income you might need during your life.  

For your convenience, you can click here to download samples of bequest language.

Charitable Gift Annuity
A charitable gift annuity (CGA) is a vehicle by which a donor can support the work of Concordia Lutheran Ministries and receive in return monthly or quarterly annuity payments for the rest of his/her life. An annuity can also be established with two people listed as beneficiaries of the periodic payments.

Annuity rates are dependent on the age(s) of the donor(s). Concordia follows the annuity rates established by the American Council on Gift Annuities. There can be federal income tax advantages in establishing a charitable gift annuity. Charitable gift annuities are very flexible in that they can be funded with cash, appreciated stocks, bonds, mutual fund shares, property and more. In fact, a portion of potential capital gains tax can be avoided when appreciated assets are donated to Concordia for the purpose of establishing a charitable gift annuity.

Charitable Remainder Trust
A trust can provide income for you, your family and Concordia Lutheran Ministries while you continue to receive income from the trust during your life. Your beneficiaries receive income and Concordia receives the principal after a specified period of time. You may avoid some or all capital gains tax on donated appreciated assets, and receive an income tax deduction.   In addition, the asset(s) is removed from your estate, reducing subsequent estate taxes.

A Charitable Remainder Unitrust can be created now, but then funded at the time of death with assets that would have become highly taxable to your heirs, such as IRAs, 401(k)s, 403(b)s and retirement accounts. The trust pays a stream of income for specified period of time to your heirs and then Concordia Lutheran Ministries receives the balance of the trust.

Life Insurance Policies
If you have an existing life insurance policy that is no longer needed to protect your children, your spouse or your business interest, you can name Concordia Lutheran Ministries as the policy's beneficiary.   Because the beneficiary designation is a revocable gift, you are not entitled to a current income tax deduction; however, the value of the policy can be deductible from your taxable estate.

This type of gift is easy to make and can be done at no cost. Simply obtain a designated beneficiary form from your insurance company and name Concordia Lutheran Ministries as one of your beneficiaries.

Gift of Real Estate
Gifting a piece of real estate* that you no longer need is an excellent way of receiving a charitable deduction by reducing potential capital gains.
*Real Estate subject to Concordia Lutheran Ministries Gift Acceptance Policy

If you would like to further discuss any of these giving opportunities, please contact the CLM Foundation office at 724-352-1571, ext. 8363.  

Concordia Lutheran Ministries is a qualified charity listed under section 501(c)(3) of the Internal Revenue Code. Donations to Concordia qualify for the charitable contribution deduction on federal income tax returns, subject to limits as established by the Internal Revenue Service.

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