Besides the traditional charitable giving from your checking or savings account, RIMI can also receive gifts from other sources.
- We are able to receive gifts of stocks directly without having to sell them first. The benefit to this is that you normally don’t have to pay any taxes on appreciated stocks since you didn’t receive any income from them.
- We can help you setup charitable gift annuities and donor advised funds which can help you reduce income taxes, avoiding capital gains or estate taxes, and be a source of income to you, all while helping us fulfill our mission.
- We can work with you to create an endowment. Depending on the setup, income and/or principal from the endowment can be used to support the ministry. The right combination can generate income for the ministry for many years with little to no reduction in principal.
- We can also accept gifts of personal property, life insurance policies, retirement plans (such as IRAs), and real estate. Done properly, these gifts can be made with the donor paying little to no taxes.
As always, please check with your local tax adviser for full legal counsel regarding tax liabilities.
If you are interested, please call the office for more details.