Ways to Give to the Foundation
A Legacy of Generosity
Ways to Give
A Legacy of Generosity
Your Gift Makes A Difference
A gift to St. Paul’s UMC Foundation is an opportunity to act on your faith and provide support in perpetuity for the church’s mission. When you include the Foundation in your financial plans, you can direct your gift to the ministries that matter most to you. There is no minimum amount required. St. Paul’s members and friends often make annual or occasional gifts in honor or memory of a friend or loved one.
Choices to Consider
Our Executive Director is happy to work with you to develop a Gift Agreement that reflects your intentions for the use of your gift. These details will be captured in the agreement and do not need to be included in your will or other legal documents.
Consider whether you want your gift to go to the Church or to the Foundation. If you name the Foundation as a beneficiary, your gifts will be placed in a permanent endowment fund unless you direct otherwise. If you name the Church as your beneficiary, your gifts will be used according to church policies in effect when the gifts are received unless you include restrictions.
Communication is Key
It’s important to let us know when you have named St. Paul’s Foundation in your estate planning. It will help us use your gift according to your wishes and allow us to thank you for your generosity. If you have already made a provision for St. Paul’s in your estate plans, please contact the Executive Director. The tax ID number for the Foundation is 75-3093308.
Including your name in recognition of your gift can encourage others to leave a legacy gift as well. If you prefer to remain anonymous, however, your gift will be kept completely confidential.
Flexible Options
There are a variety of ways to structure your gift, allowing you to choose a funding option that best fits your investment and planning strategy.
Gifts Through Your Estate/Bequests
There are several generally accepted ways to make a bequest through your will. Learn more about bequests.
Gifts of Securities
St. Paul’s members and friends often find that making a gift of securities to the Foundation is beneficial due to the associated tax benefits. The current long-term capital gains tax is 15% for most filers. This rate makes giving securities a good alternative to a cash gift of the same value. Learn more about gifts of securities.
Gifts of Mutual Funds
Mutual funds require special handling. For information on how to make a gift of mutual funds, contact your broker and the Foundation’s Executive Director. Please note that it is the policy of St. Paul’s Foundation to sell gifts of publicly traded securities as soon as they are received.
Gifts of Cash
Gifts of cash are always welcome. Make checks payable to St. Paul’s UMC Foundation and note on the memo how you wish the gift to be used.
IRA Rollovers
Distributions from your IRA may provide you with tax benefits by excluding the distribution from income. Be sure to check with your broker and the Foundation’s Executive Director about the specific requirements for this type of gift.
Distributions from an IRA must be directed to St. Paul’s UMC in order to be a Qualified Charitable Distribution. Although a gift may be given for the church, if all or part of your gift is for an endowment with the Foundation, mark your gift with the notation “to be kept in perpetuity,” and the church will transfer that portion of your gift to the Foundation.
Retirement Plan Designation
You may designate St. Paul’s Foundation as primary or contingent beneficiary of a retirement plan pursuant to your plan’s appropriate designation procedure (i.e., specific forms). This simple process is handled by your plan representative.
Life Insurance
There are various methods by which a life insurance policy may be contributed to St. Paul’s:
- You may assign a paid-up policy.
- You may assign a life insurance policy on which premiums remain to be paid and agree to continue paying the premiums. The premium payment to St. Paul’s is a tax deduction for you.
- You may name St. Paul’s Foundation as primary or successor beneficiary of any policy you own.
Federal Reserve Items
US savings bonds, series E, EE, H, or HH, may be given to St. Paul’s Foundation during a donor’s life, and the donor may claim a charitable contribution deduction for their fair market value. However, sale of the bonds is a taxable event and therefore makes savings bonds generally unattractive for giving during the life of the donors. Such bonds may be transferred on a testamentary basis without recognition of income by the decedent or the charity.
Charitable Gift Annuity
A charitable gift annuity is a contract between a charity and the donor. The charity agrees to pay the donor (or other person(s) named by the donor) a lifetime income in return for a gift of cash, securities, or other property. The payment may continue for the life of a second individual, such as a spouse or child. The annual payment is a fixed sum, the amount of which is based on the size of the gift and the number and ages of the beneficiaries. The payments may begin at a later time (i.e., deferred gift annuity).
If you are interested in learning more about gifts with income, contact the Foundation’s Executive Director.
The Iowa United Methodist Foundation is St. Paul’s partner for charitable gift annuities.
Charitable Remainder Trust
The charitable remainder trust is a separately administered trust established by the donor. It provides for payments to the donor and/or other named beneficiary(ies) either for life or a term of years (not exceeding 20), whereupon the remaining trust assets are distributed to one or more charities. These trusts may be established during life (“inter vivos”) or at death (“testamentary”). Though the Foundation does not serve as trustee of such trusts, it accepts the role of remainderman and is available to help donors and their advisors explore and establish such trusts.
Life Estate
An individual may transfer title (i.e., remainder interest) to St. Paul’s to a personal residence, farm, or other real estate, and the donor or other persons named by the donor may retain the use of the property for a term of years or the life of the donor/other persons (i.e., life estate). Obligations for upkeep are determined before the gift, and the donor receives a tax deduction.
Giving through the Greater Cedar Rapids Community Foundation
St. Paul’s UMC Foundation works closely with the Greater Cedar Rapids Community Foundation (GCRCF) to help St. Paul’s members and friends take advantage of the Endow Iowa tax credits when one contributes to the GCRCF for one of the endowment funds listed below.
The Endow Iowa tax credit program is available only through authorized Iowa community foundations. The program is administered by the Iowa Department of Economic Development to encourage Iowans to leave a legacy in Iowa. Donors receive a 25% credit on their Iowa income tax. Normal Federal tax deduction rules apply.
Donations may be given to the GCRCF for any of the following funds which have been established with St. Paul’s UMC as the beneficiary:
- St. Paul’s United Methodist Church Foundation Friends Fund
- David and Sherri Justice Fund for Youth
- Wes and Nancy Nygren Fund (for congregational care and technology)
- Gary and Susan Speicher Fund for Youth
- Pearl A. and Rodney W. Speicher Fund for Music
- Russell W. and Ruth E. Landis Fund (for church budget)