There's More Ways to Make a Difference
You've worked hard to build your financial assets, but how can you use those assets to their fullest potential in your community?
Wise financial budgeting and planning means that you are building your savings, investments, and financial assets. However, while our American culture teaches us to accumulate wealth for self-fulfillment, our faith teaches us that building wealth is not for self-serving purposes, but for the purpose of serving others and joining in with God's work in the world. As Paul writes in 2 Corinthians 9:6-9:
"Remember this: Whoever sows sparingly will also reap sparingly,
and whoever sows generously will also reap generously.
Each of you should give what you have decided in your heart to give,
not reluctantly or under compulsion, for God loves a cheerful giver.
And God is able to bless you abundantly, so that in all things at all times,
having all that you need, you will abound in every good work.
As it is written:
'They have freely scattered their gifts to the poor;
their righteousness endures forever.' "
When a charity asks their supporters for a donation, most people immediately think about writing a check or pulling out their cash or debit card. While those are certainly great ways to give, there are many more ways that you can leave an impactful gift in your community. In particular, investment accounts and other financial assets can be great ways to give back to your community. Giving through the following ways can mean not just a higher impact for organizations like COM, but may also carry extra benefits for you and your family as well.
Consider These Ways to Give
STOCKS & INVESTMENTS:
Donate appreciated securities directly to COM and potentially avoid recognizing capital gain on the appreciation while making a charitable gift to COM.
DONOR ADVISED FUNDS (DAFs):
A DAF is a charitable investment account that allows donors to contribute cash, stocks, or other assets into the account and receive an immediate tax deduction. The donor can then recommend grants to COM or other charities over time as the funds grow tax-free.
IRA / QUALIFIED CHARITABLE DONATIONS (QCD):
If you are 70½ or older, a qualified charitable distribution from an eligible IRA can be sent directly to COM and may even provide you with tax benefits. This can lower your taxable income, meet your minimum distribution requirements, better protect your social security and Medicare benefits, and allow you to receive better charitable tax benefits than cash giving alone.
LEAVE A LEGACY WITH YOUR WILL: Leaving a gift to COM in your will or estate is a great way to leave a legacy in your community. If you don't currently have an attorney, tools like Freewill.com allow you to create a will for free and identify COM and others as beneficiaries. If you are interested in this, please give us a call beforehand so we can discuss with you the most sustainable and beneficial ways in which part of your estate can help our mission.
CRYPTOCURRENCY: You can donate cryptocurrency to COM. COM partners with Crypto For Charity to facilitate crypto transactions. Just visit www.cryptoforcharity.io, select "Community Outreach Ministries" as your nonprofit of choice, select your currency and amount, and donate. It's that simple. Crypto for Charity handles all the complicated pieces and then forwards your donation to COM.
For any of these giving options, it is recommended you speak with your financial advisor to understand both the tax implications & benefits as well as the impact on your personal finances prior to giving. If you do not have a current financial advisor, COM can provide you with the names of local individuals and firms we have worked with in the past to help you in your search. If you need assistance in this manner, please contact us at 417-326-2769 or at info@bolivarcom.org.