planned-giving

“Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you.”  - Luke 6:38

As a recipient and steward of God’s bountiful gifts, you have an obligation and opportunity to share and return those gifts, providing support to God’s church and ministries beyond your lifetime.

RETIREMENT ASSETS

A gift of retirement assets (IRA, 401k, 403b assets) may be worth significantly more if you donate it to Sharon Presbyterian Church than if you pass it to your heirs. Consider leaving your loved ones less heavily taxed assets and donating your retirement assets to Sharon Presbyterian Church providing meaningful support for our mission.

When passed to your heirs, qualified retirement assets are subject to federal and, if applicable, state income taxes. An additional tax is levied for taxable estates. By choosing to leave this gift to Sharon Presbyterian Church, the full un-taxed value goes toward our mission. Your generous gift will come directly to Sharon Presbyterian Church outside of your estate.

You can also make an immediate gift of qualified retirement assets to the church if you are at least 59½ years old. You can take a withdrawal from your retirement plan, report the amount as ordinary income (unless the assets are held in a Roth IRA or qualified plan), and make a deductible contribution to the church outright.  If the amounts were withdrawn from a pre-tax account, the resulting tax effect is often a "wash"; if the amounts were withdrawn from a Roth (post-tax) account, the net tax result to you is positive.

 

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Benefits of this type of gift to You:

  • Qualified retirement accounts are subject to income tax when received by your heirs, so they may owe income taxes on the balance of the retirement account. For estates subject to estate tax, federal estate tax can erode the value even further. As a non-profit organization, Sharon Presbyterian Church does not pay any federal income or estate tax on the distribution. The full value is converted into our work.
  • Pass along to your heirs a wide range of other assets that are not subject to income tax.
  • A simple form is all you need (while no attorney needs to be involved, it is practical to touch base with your professional advisors for their counsel).
  • During your lifetime, you continue to use and receive distributions from your retirement accounts.
  • If your circumstances change, you may easily change the beneficiary designations at any time.

NEXT STEPS:

Consult with your professional advisers to make sure a gift of IRA, 401k or 403b assets fits your charitable and estate plan.

Request and complete a beneficiary designation form from your administrator. When listing Sharon Presbyterian Church as beneficiary of a retirement account, please use the following address to ensure your request is honored: 5201 Sharon Road, Charlotte, NC 28210

Please contact us to discuss a gift of retirement assets. See the contact information below for details.

Contact:

Senior Pastor Rob Blumer
Email: robb@sharonpcusa.org
Phone: (704) 553-0869

Associate Pastor Ron Nelson
Email: ron@sharonpcusa.org
Phone: (704) 553-0869

The above gift description is for informational purposes and not intended as legal or tax advice. To ensure that this form of gift is appropriate for your particular circumstances and estate planning, please consult with your professional advisers.

Last Published: September 12, 2017 10:42 AM
Steps to a Gift