Donera till projektet Nykyrkligt Bibelstudium

Donate Appreciated Stock

Giving appreciated stock or mutual funds that you have held for more than one year is one of the most tax-efficient ways to support New Christian Bible Study. When you donate appreciated securities directly to us, you can claim the full fair market value as a tax-deductible charitable contribution, without having to pay capital gains taxes on the appreciated amount.

The tax benefits of a stock donation can be significant. For example, if you purchased stock years ago for $2,000 and it is now worth $10,000, you would have to pay capital gains taxes of around 15-20% if you sold the stock. However, by donating that same stock directly to NCBS, you can claim a $10,000 deduction and avoid paying taxes on the $8,000 gain.

The process is simple - you just need to instruct your broker to transfer the shares to New Christian Bible Study's brokerage account. We will provide you with a written acknowledgment of the stock donation and its fair market value on the date of transfer for your tax records.

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Donate from your IRA Required Minimum Distribution

If you are 70½ or older, you can make a tax-free charitable donation directly from your Individual Retirement Account (IRA) to NCBS through a qualified charitable distribution (QCD). This allows you to give funds that count toward your required minimum distribution (RMD) for the year, without those funds counting as taxable income.

The benefits of making a QCD include:

- You satisfy all or part of your annual RMD requirement.

- You will not incur income tax on the donated amount.

- You are able to give more from your IRA than you're allowed to deduct as a charitable donation.

To make a qualified charitable distribution, you'll need to instruct your IRA custodian to transfer any amount (up to $100,000 per year) directly from your IRA to New Christian Bible Study. The amount donated counts toward your RMD but is excluded from your taxable income for the year.

While you cannot claim a charitable deduction for the QCD itself, the donation allows you to meet your RMD obligation while excluding it from your adjusted gross income. This can be especially beneficial if you don't itemize deductions or are subject to rules that limit deductions based on income levels.

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Donate a Life Insurance Policy

Another less common but very effective way to support NCBS is by donating a life insurance policy that you no longer need. This can allow you to leverage the policy's death benefit into a significant future gift while also providing you with tax benefits today.

There are a couple of ways you can donate a life insurance policy:

1. Transfer Ownership - If the policy has built up a cash value, you can transfer complete ownership of the policy to New Christian Bible Study. You will be eligible for an immediate income tax deduction equal to the cash surrender value on the date of transfer. Going forward, if you continue to pay premiums on the policy, those payments will also be tax deductible as a charitable donation.

2. Make New Christian Bible Study the Beneficiary - For a policy that hasn't built up cash value, you can simply designate NCBS as the primary beneficiary to receive the death benefit when you pass away. Though this provides no immediate tax benefit to you, it allows you to make a meaningful future gift to NCBS.

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To learn more about any of these options, or to discuss another planned giving strategy, please reach out to our treasurer using the link provided at the bottom of the page.