Give
Gifting Options
Gifts of the assets discussed below can be made during your lifetime or at your death if Allen Jackson Ministries (AJM) is designated as a beneficiary on the contract or in your Will.
Cash
An outright gift of cash or check is often the easiest gift to make and may provide a charitable tax deduction for you.
Stock
Rather than selling stocks or bonds and then giving AJM the proceeds, consider gifting the appreciated securities directly to AJM instead. The charitable tax deduction is calculated based on the full, fair market value of the securities and you may be entitled to this deduction. You will not have to pay any capital gains tax on the transfer. To take full advantage of the available tax benefits, give securities you have owned for longer than one year.
Benefits of Gift Stock:
- Avoid income taxes
- Receive a charitable income tax deduction
- Provide funds to further AJM’s mission
Retirement Plans
This could be an IRA, Keogh, 401(k), 403(b), or other account. You can make AJM the sole or a partial beneficiary of your plan which would be distributed to AJM upon your death. If you are more than 70.5 years old, you can direct your annual minimum required distribution (MRD) up to $100,000 to be paid directly to AJM.
Benefits of Gifting MRD to AJM:
- Avoid income taxes
- Satisfy your MRD for the year
- Reduce your taxable income
- Make a gift to further the mission of AJM
Real Estate
If you make a gift of a parcel of real estate to AJM, you may be able to utilize a charitable tax deduction based on the fair market value of the property as determined by an appraisal, no matter what you paid for it. If you sold the property, you would owe capital gains tax on the increase in value over the amount you paid for the property.
Benefits of Gift of Real Estate:
- You may receive a charitable tax deduction for the present value of the remainder interest in your property.
- Avoid capital gains tax on a sale of the property.
Life Insurance
You can make AJM the sole or partial beneficiary of a life insurance policy on your life. You could also make AJM the owner and beneficiary of a life insurance policy on your life and may be entitled to utilize an immediate charitable tax deduction.
Charitable Remainder Trusts
You can transfer cash, appreciated securities or real estate into a trust. The trust pays income to you and/or other beneficiaries that you name, for life or for a term of years up to 20. When the trust terminates, the assets are distributed to AJM to accomplish the purpose you designated when you created the trust. If you fund the trust with appreciated assets, you do not pay any capital gains tax, and you may be entitled to receive a charitable tax deduction.
Benefits of Charitable Remainder Trusts:
- You receive a fixed income for life
- You do not have to pay capital gains tax on the transfer
- You may be entitled to receive a charitable tax deduction for your gift
- Future legacy gift to AJM
Bequests in Your Will
You can include a provision in your Will specifying a gift to be made to AJM as part of your estate plan.
Benefits of Your Bequest:
- Leave a lasting legacy
- Your estate will receive an estate tax charitable deduction
Donor-Advised Funds
A donor-advised fund (DAF) is a type of charitable investment account that provides an immediate tax benefit to you and allows you to recommend grants to charities of your choice over time. You can contribute additional amounts to the fund as often as you desire. This arrangement allows you to plan your gift so that you can take the tax deduction when it makes sense for you.
Please consult your tax advisor for tax advice. If you have questions about any of the information above, please contact us.
Frequently Asked Questions
Once enrolled in scheduled/recurring giving, can I change or cancel the program?
Absolutely. You can change, cancel or restart the program at any point simply by logging into your account and making the appropriate adjustments.
What payment method options are available?
We are able to accept credit/debit cards as well as bank deposits (e-checks) from checking/savings accounts.
If I don’t want to use online giving, do I have other options?
Absolutely. You can give by placing a contribution in the weekend offering, or mail it to the following address:
Allen Jackson Ministries
Business Office
PO Box 330128
Murfreesboro, TN 37133 U.S.A.
Does Allen Jackson Ministries have to pay transaction fees for online giving?
Yes, with all online giving, there are transaction fees associated with each type, although some are less than others. Even with fees, we encourage online giving because it reduces overhead by freeing up resources in other areas. E-checks (ACH/Bank Transfers) have the lowest fee structure and debit/credit cards have slightly higher fees associated with them.
Will I still receive a contribution statement?
Yes, the Allen Jackson Ministries Business Office will mail quarterly contribution statements, including end-of-year statements. In addition, you can request a giving statement from the AJM Business Office at any time. The statements will include your online giving, as well as any other offerings you may have given during the weekends.
How can I give stocks or other assets?
Contact the Business Office or call the office at (615) 896-4515.
Is Online Giving safe?
Yes – we use echurchgiving (Pushpay) and do not store any credit card information on our servers. The security setup we have used is the same as many banks and is Level 1 PCI DSS compliant. For this reason, Pushpay is considered significantly more secure than many current offerings including actually having a credit card physically present.
Who do I talk to if I have more questions?
Contact the Business Office or call the office at (615) 896-4515.