Required Minimum Distributions (RMDs)

Required Minimum Distributions (RMDs)

by | Dec 9, 2022 | Generosity, RMD

Giving your RMD to causes you care about

… and save on income taxes!

If you are over 72 years old with a traditional IRA or 401(k), you are likely required to take a minimum amount out of your account each year. This is called a Required Minimum Distribution or RMD.

If you transfer your RMD directly to a non-profit organization or a designated Ministry Fund set up with the Ten Talents Foundation, the RMD will not be counted as income and you will not have to pay income tax on the amount! This allows you to give more to causes aligning with the unique passions God has put on your heart.

Unlike a stock transfer, RMDs can not be transferred to a Giving Fund (also known as a Donor Advised Fund). RMDs must be given directly to a non-profit or to a designated Ministry Fund with the Ten Talents Foundation. Ten Talents can simplify the RMD giving process for you and the organization you would like to support.

For more information about how to give your RMD to a cause you love, contact Ten Talents at (559) 387-5534 or info@tentalentsfoundation.org. We can’t wait to help you leverage your generosity.

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Tax-wise way to donate stock

Tax-wise way to donate stock

by | Dec 9, 2022 | Generosity, Giving Funds, Stocks

Tax-wise way to donate stock

A simple, quick process.

The Ten Talents Foundation has a simple process in place to help you transfer your stock into a Giving Fund with a 3-4 business day turnaround!

To begin the process, contact Ten Talents Foundation and we will provide you with transfer instructions that you can give to your financial adviser.

The adviser facilitates the sell of the stock and the money can then be transferred directly into your Giving Fund. Therefore, the funds from the sale are not considered income and you do not have to pay income tax on the amount.

Interested in donating stock to a cause you believe in? Contact the Ten Talents Foundation today and we will help you through the simple process.

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Don’t have time to make thoughtful gifts by the end of the year? Here’s what you can do.

Don’t have time to make thoughtful gifts by the end of the year? Here’s what you can do.

by | Dec 9, 2022 | Generosity, Giving Funds

Contribute to your Giving Fund now. Distribute donations later!

Reduce stress & increase intentionality.

Do you have financial gifts you’d like to make by the end of the year, but you don’t have time to thoughtfully decide where you’d like to donate your gifts?

Having a Giving Fund (also known as a Donor Advised Fund or DAF) through the Ten Talents Foundation, allows you to make one year-end tax-deductible gift to your Fund now and distribute the gift to various causes in the future! 

For example: If you open and contribute to your Giving Fund this December, you will receive a tax-benefit for the year the money was contributed to the Fund (i.e. 2022). You can then make gifts out of your Giving Fund in 2023 and beyond!

This allows you to grow your Giving Fund to meet a ministry’s specific need later, or have more time to pray about your giving rather than rushing into random year-end donations.

Interested in learning more about this process and launching your own Giving Fund? Contact Ten Talents at (559) 387-5534, info@tentalentsfoundation.org, or by clicking the button below today!

Contact Ten Talents