Other Charitable Giving Opportunities
Thoughtful planning can help you achieve your charitable and financial goals while providing vital support for the work of the Minnesota Family Council and Minnesota Family Institute . Would you consider a generous gift? We will put it to work for you!
- Gifts to Minnesota Family Council are not tax-deductible. They allow us to influence legislation and build a grassroots network.
- Gifts to Minnesota Family Institute are tax-deductible. These dollars are used for education and research.
GIFTS OF APPRECIATED SECURITIES
(This information is of a general nature only. For specific legal advice and assistance, you should contact your own attorney or financial advisor.)
This is perhaps one of the wisest methods of giving, particularly if the securities have appreciated in value. Due to the historic rise in the stock market over the last several years, many stock holdings have a tremendous level of unrealized gain.
The good news is that the stock you purchased months or years ago is now worth far more than it was originally. The bad news is that if you sell the appreciated stock, at least 20% of the gain will be lost to taxation. The best news yet is that there is a way to avoid paying the tax on all of the gain – altogether!
By giving your appreciated securities to MFC/MFI, you are relieved from paying any capital gains tax on the growth of your stock.
How?
- If you want double tax benefits you may give your appreciated securities to the Minnesota Family Institute. By giving to the Minnesota Family Institute, you receive not only relief from the tax on the capital gains, but also a charitable contribution income tax deduction for the full fair market value of the gift!
- Your gift to the Minnesota Family Council gives you the tax benefit of relief from paying all capital gains tax. You do not receive the additional benefit of an income tax deduction because your gift allows us to influence legislation.
Life Insurance
(This information is of a general nature only. For specific legal advice and assistance, you should contact your own attorney or financial advisor.)
Are you looking for a way to support the pro-family cause? Do you wonder if you have the available funds?
There is a way for you to provide a gift to help further the work of the MFC/MFI.
Giving a life insurance policy may be the answer you've been seeking.
A gift of life insurance can be the easy method of making a substantial contribution. It allows flexibility while providing significant tax benefits.
More important, you receive the satisfaction of knowing that your gift will enable us to work toward preservation of traditional Judeo-Christian values.
These are a Few Tax Benefits:
- Income Tax - If MFI is made the owner of the policy, you are allowed to take deductions on your income tax return. In the first year, a charitable contribution can be deducted for the present value of the policy. In succeeding years, the premiums may be deducted. Generally, the deductions are limited to 50% of your adjusted gross income.
- Gift Tax - Your gifts to MFI are deductible in full for federal gift tax purposes. The amount of the gift tax deduction has no percentage limitation.
- Estate Tax - The proceeds of an insurance policy paid to MFI are not subject to federal estate tax.
Planned Gifts
It also is possible to make a permanent gift to the MFC/MFI through a gift in your WILL, through a LIFE INSURANCE GIFT, or even through a gift that first pays you INCOME FOR LIFE.
- A will assures that your wishes will be carried out. Through a will, you can provide for your loved ones as well as for the charitable organizations in which you believe.
- If you have a life insurance policy that has served its original purpose, you may choose to give it to a charitable organization. The gift may decrease your income and estate taxes.
- A Gift Annuity provides a regular return on your gift to MFC/MFI. A number of tax benefits may result.
- A memorial gift, while expressing honor for a loved one, becomes a meaningful way to offer a gift of lasting worth. You may give any type of gift in memory of another person. Trusts, wills, annuities, and other charitable giving plans can also be used to further your gift.
- Giving property while retaining a "life estate" enables you to take a charitable deduction now, while continuing to live in the property for the rest of your life.
How to Take Action
As you preview these gift opportunities and needs of MFC/MFI, please consider, at any time, contacting us at 612-789-8811 x226. All inquiries are confidential.
Thank you for thoughtfully considering a generous gift. Your gift will help us to continue to expand and broaden our activities on behalf of Minnesota families.