Other Ways to Give
You can get creative with your charitable giving!
While most people think of simply making a donation using a check or credit card, there are a variety of ways you can support the ministry of City Union Mission!
Here are some creative ways you can make a gift to the Mission – and make a huge impact in the lives of local men, women and children in need of help.
Gifts of Real Estate Property
Some donors generously donate gifts of real estate property to City Union Mission. These have been a great resource for us to help minister to the poor or homeless. To donate real estate property to City Union Mission, please contact Stacey Winkelbauer, Vice President and Institutional Services Consultant with Commerce Bank , at (816) 234-2529, or via email at Stacey.Winkelbauer@Commercebank.com.
Gifts of Stocks and Other Securities
Gifts of stocks and other securities (bonds, mutual funds, etc.) allow you to give without depleting your liquid cash reserves. Our bank, Commerce Trust Company, handles the receipt of securities transfers. To donate securities, please contact Stacey Winkelbauer, Vice President and Institutional Services Consultant with Commerce Bank, at (816) 234-2529, or via email at Stacey.Winkelbauer@Commercebank.com.
Giving Appreciated Property
If you possess non-cash property, such as stocks and mutual funds, that has grown in value and has been held for longer than one year, you can generally expect greater tax savings from giving such property than from giving an equivalent amount of cash – gifts of appreciated property let you bypass capital gains taxes that may be due if you sell the asset. Also, you are entitled to a charitable deduction based on the property’s current value, including the “paper profits” you have earned since you have owned it. This is an excellent way to make a generous gift to City Union Mission.
Giving Depreciated Property
If you possess stock or other property that has decreased in value, you will normally save more in taxes by selling them and donating the proceeds. In such cases, you may then be able to claim a capital loss on your tax return. You also can deduct the cash proceeds you give as a charitable gift, and enjoy tax deductions that amount to more than the current value of the asset.
Making the Gift
Please consult your tax advisor to decide if a gift of stock, bonds, or mutual funds is a good strategy for you. If your broker is handling the giving process, please direct them to Stacey Winkelbauer, Vice President and Institutional Services Consultant with Commerce Bank , at (816) 234-2529, or via email at Stacey.Winkelbauer@Commercebank.com, and please provide her with all the relevant information.
City Union Mission is humbled every single day by the gracious gifts we receive. If you have questions or would like to receive more information before giving, please call our Accounting Department at (816) 329-1471.
Charitable Gift Annuities
Maximizing Income while serving the Poor or Homeless
Why Gift Annuities?
• Guarantees the participant income for life.
• Gives significant support to the participants’ charity of choice.
• Provides some tax advantages and deductions.
• Safe and financially stable.
Understanding Gift Annuities
There are three different types of CGA’s: Single – Life Gift Annuities, Two – Life Gift Annuities, and Deferred Annuities. Although there are three different types of annuities, all three have the same foundational benefit of a guaranteed income for life.
Single-Life Annuity
• Only pays to one participant
• Payments terminate at the death of the participant
Two-Life Annuity
• Payments made to first participant initially
• Payments made to second participant at the point of death of the first participant
Deferred Annuity
• Payment is allowed to be delayed until specified date made by participant
• Higher annuity payments
• May be Single-Life or Two-Life Annuity
Illustration
Mark and Katherine were both 75 years old, retired, and troubled by the drop in their income as a result of lower interest rates on their fixed-income investments (CDs, bonds, and money market funds). Still, they wanted to support charities through financial giving and planned to do so through their will.
Then they learned about a CGA with City Union Mission. They started a CGA by funding it with a $25,000 check. They received an immediate tax deduction for a portion of that gift, and based on their age and life expectancy, they received fixed periodic payments of $1,250 per year for life (5.0% of $25,000). About 80% of each payment was tax-free.
Even better, their CGA worked in tandem with their Giving Fund (donor-advised fund) with us. Money from the CGA went into their Giving Fund, from which they could recommend gifts to their church and favorite charities – even after their death.
• They received $1,250 per year in fixed, periodic payments – partially tax-free – for the rest of their lives.
• During Mark and Katherine’s life and even upon their death, money from the CGA went to their church and favorite charities.
If you have questions or would like more information, please contact Dr. Terry Megli at terry.megli@cityunionmission.org.
Employer Gift Matching
Use the Employer Search Bar below to see if your employer participates.
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