What is Gift Planning?
Gift planning is charitable giving coordinated with your charitable, financial, tax and estate goals. Good planning with tax-wise gifting strategies enables you to make significant charitable gifts during life and after you pass away.
Scripture teaches that wise giving engages the whole person. "For as he thinketh in his heart, so is he" (Proverbs 23:7, KJV). Biblical stewardship brings together understanding, affection, and faithful action.
The Mind -We give with discernment, knowing "it is required in stewards, that a man be found faithful" (1 Corinthians 4:2). Supporting ICR means investing in a work committed to proclaiming God's truth from the very beginning, strengthening faith, and equipping future generations.
The Heart - God directs our giving toward what we love. "Where your treasure is, there will your heart be also" (Matthew 6:21). When the glory of Christ and the authority of His Word matter deeply, generosity follows naturally.
The Means - Faithful giving honors God while caring wisely for those entrusted to us. "The plans of the diligent lead surely to plenty" (Proverbs 21:5). Thoughtful gift planning allows believers to support God's work today while providing responsibly for family tomorrow.
At ICR, your generosity becomes more than a gift. It becomes an act of worship, a testimony of faith, and a legacy pointing hearts to the Creator. "Thanks be unto God for his unspeakable gift" (2 Corinthians 9:15).
Such gifts often require deliberation, planning and counsel. These gifts may be current or deferred through a person's estate. They often involve the gifting of assets (versus outright cash gifts) such as appreciated securities, real estate, business interests, retirement plans, life insurance, collectibles and so forth. The strategies can also involve blended giving, which means outright gifts combined with future gifts to make a person's giving go further.
There are many advantages for people who employ gift planning in their estate planning. First, gift planning enables donors to make larger gifts than they ever thought possible for a greater impact in the current work of their favorite nonprofit(s) and/or in the future through their estate. Besides making a significant gift, the donor is entitled to a charitable income deduction, estate tax savings and the ability to avoid capital gains taxes. Some gift plans provide the donor with a lifetime stream of income. Others provide income to the nonprofit and principal to the donor's heirs.
There are several types of gift plans:
- Outright asset gifts
- Qualified charitable distributions (QCDs)
- Bequests via will or trust
- Beneficiary designations
- Charitable life income plans
- Charitable lead trusts
- Donor advised funds (DAFs)
- Charitable life estates
- Zero-tax gift and sales
Which gift plans are appropriate for you greatly depends on your personal situation and planning goals for you and your family.
Contact us today to learn more about gift planning. We would welcome the opportunity to serve you.
