by Jerry Webb
Jerry’s reflections on and analysis of current economic topics, with insights into wise stewardship and strategies for creative giving to produce meaningful change. Jerry is known for combining Christian values and financial acumen with inspiration and humor.
Jerry’s Tips for Giving Strategies
Did you know that you could stop writing checks to your church and favorite charities!
If you give away more than $5,000 a year, you should have a donor advised fund (DAF).
- You can begin to accumulate funds in your DAF and invest it so you earn income tax free as your investments grow. There may be a time in the future when you, a child, or grandchild wants to do volunteer work, or take a mission trip. You can take funds from your DAF for most any type of mission work you want to do.
For example, Alive and Well is funded by our DAF, so we can continue to do ministry and support the causes we want to in retirement. We funded the book Bank On It with funds from our DAF. It puts together all the verses in the Bible that deal with money and issues related to dealing with money.
- If you had a DAF, you could have all your donations coming from the same place, manage them online, and save a lot of time gathering your records at tax time. You could save thousands of dollars a year in taxes by gifting appreciated stock to your DAF.
- If you have investments that have grown in value or stock certificates tucked away in a safe deposit box, you can gift them into your DAF tax free. Do you have an old cash value life insurance policy that you don’t want to surrender because you’d pay tax on it? You can gift that to your DAF, get an income tax deduction, sell it in your DAF, and pay no income taxes on the sale.
There are rumblings that the government is looking at restricting income tax deductions for charitable giving. So, why not make gifts now, get the deduction, and then give from your DAF funds in the future?
For more information about donor advised funds, contact Jerry through firstname.lastname@example.org.