Retirement funds
Make a Qualified Charitable Distribution from a traditional IRA under certain conditions — the distribution need not be reported as income, which can help with Required Minimum Distributions.
A giving heart includes giving smart
Other Ways to Give
Giving assets rather than cash can have a lasting impact, improve cash flow, provide income, simplify records or reduce taxes.
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01Why give
We give because God first gave to us.
All of our giving is a joyful expression of thanksgiving and gratitude to God for the blessings we have received.
Each person’s situation is unique. Ask an advisor or estate planning attorney which types of planned giving are smart ways to meet your life situation and goals.
02Give now
Assets you can give today
Mount Olive accepts some assets directly; others through the nonprofit Every.org, which converts gifts to cash, sends them to Mount Olive and provides your tax receipts.
Donor-advised funds
Contribute when it is best for you, let gifts grow tax-free, and recommend one-time or recurring gifts — with one set of tax records.
Give from your DAFStock or mutual funds
Give appreciated securities held at least a year and you generally do not pay tax on the capital gains — freeing cash for other purposes.
Donate stockCryptocurrency
Give appreciated cryptocurrency held at least a year and avoid capital gains tax on the appreciation.
Donate cryptoLife insurance
Name Mount Olive as owner and beneficiary of a policy whose original purpose no longer applies for an income-tax charitable deduction.
Cash & recurring gifts
The simplest way to give: online through Vanco, by enrollment form, or in the offering plate.
Donate now03Give later
Leave a legacy
Legacy gifts — bequests and beneficiary designations — benefit Mount Olive at a later time. The Mount Olive Endowment Fund is one way to leave a lasting legacy.
Bequests
A gift made through a will or living trust, usually a percentage of an estate or a set dollar amount. Suggested wording:
“I hereby give, devise and bequeath ___% of the residue of my estate to Mount Olive Lutheran Church, a Minnesota charitable corporation located at 2830 18th Avenue NW, Rochester, MN 55901, Federal Tax ID #41-1461244 to promote Mount Olive’s charitable objectives and mission.”
Suggested bequest language
Beneficiary designations
Bank and securities accounts, retirement accounts, life insurance policies and savings bonds can name Mount Olive as a beneficiary, regardless of the provisions of a will or trust.
04Give, and receive income
Gifts that pay you back
Charitable gift annuities and charitable remainder trusts can provide income during your lifetime. For these gifts we recommend contacting the ELCA Foundation; the ELCA gift planner for southeastern Minnesota is Tharan Leopold.