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Planned Giving Options

PLANNED GIVING – Fulfilling Your Wishes, Ensuring a Legacy

IRA Rollover - Congress and President Obama Extend the Charitable Giving Option through 2013

Included in legislation passed by Congress on January 1, 2013, is an extension of the IRA Rollover provision for 2012 and 2013. This provision gives individuals 70½ and older the option to give to charities like The JESUS Film Project and Campus Crusade for Christ directly from their traditional IRA up to $100,000 without the normal tax consequences on withdrawals. An IRA Rollover gift meets the minimum distribution requirements* and many people can benefit. For those whose charitable giving exceeds their annual adjusted gross income limits, a gift of this kind is especially helpful. Consult your tax advisor. Gifts must be transferred by January 31, 2013, for crediting in 2012 and by December 31, 2013, for the 2013 tax year. For assistance, call toll free at 1-888-278-7233, option #1, then option #2, and ask for Ben Grames, Debbie Williams or Cathy Emmans. Or if you prefer, you can email them at stock@jesusfilm.org. 

*Restrictions apply; contact your tax advisor or IRA custodian. 

What does tax reform mean to you in 2013?

The tax legislation passed by Congress on January 1, 2013, will impact Americans in several areas including charitable IRAs, income tax rates, capital gains and estate taxes, and itemized charitable deductions. To read a summary of the changes that could affect you, please click here. 

Key Elements of the New Legislation:

• No dollar cap on deductions
• No 28 percent limitation for high-income earners
• For those earning $250,000+ (single)/$300,000+ (married/joint), value of deductions reduced by 3 percent of income above that threshold, not to exceed 80 percent of total deductions

What is planned giving?

The term refers to charitable giving that is planned ahead of time. These gifts can be advantageous to the donor by providing significant tax benefits and/or income for life, and at the same time providing a gift for a well-loved cause: The JESUS Film Project. A variety of methods used to make these gifts range from simple bequests made in wills to setting up charitable trusts.

Benefits of planned gifts:

• Avoid capital gains tax
• Avoid estate taxes
• Reduce the donor's income tax
• Increase current income for the donor or others
• Make a significant gift to The JESUS Film Project or other ministries that God lays on your heart
• Pass assets to your family at a reduced tax cost

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For further information or answers to your questions, please feel free to call our Gift and Estate Planning Team toll free at 1-800-449-5454. Our team of professionals can provide you with additional information on a variety of planning tools and strategies that can help guide you, in consultation with your advisors, to the best solutions for you. The ministry also offers an Estate Design Service, from which a number of friends have benefited; perhaps you can as well... click here to learn more. There is no obligation and the call is toll free, so call us today. You can send an email to: info@gcfccc.org.

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