While generosity is the common denominator for donors Chuck and Barb, their equation has changed in the decades since they first started partnering with Thrivent Charitable.

When recalling their original strategy, Chuck says, “We had established a donor-advised fund for our annual giving. Then our financial advisor recommended adding a life insurance policy to continue making gifts after we’re gone. I had not been a proponent of life insurance, but this made a lot of sense for us.”

The couple created a charitable gift annuity with a gift of appreciated stock to Thrivent Charitable, and income from the annuity is used to pay premiums for the life insurance, which will benefit their fund when they both have passed away.

Fast forward 15 years when their Financial Consultant Alex Gonzalez explained to Chuck and Barb about using qualified charitable distributions (QCDs) to accomplish their annual giving goals rather than designating gifts from their donor-advised fund.

“We aren’t taxed on required minimum distributions from our IRA if they are given directly to charities as a QCD,” Chuck says. “Our financial advisor knows we want to maximize our charitable giving, and when he explained the benefits, we changed our strategy. Now we will use money accumulating in our donor-advised fund for legacy planning.”

Barb says, “Our kids and grandkids don’t ‘need’ our support, so we take a broader view of how we can use our resources. That’s why you have a financial advisor to take care of these things, and when he recommends Thrivent Charitable, it just reinforces our relationship with him.”

There are three ways to makes a significant charitable gift with life insurance:

• Give a new contract making Thrivent Charitable owner and beneficiary. You may be able to take a charitable deduction for ongoing premium payments as you make them. 
• Give an existing contract. You can change the owner and beneficiary of existing life insurance you no longer need to Thrivent Charitable. 
• Name Thrivent Charitable as beneficiary. You designate all or a portion of the proceeds to your donor-advised fund at Thrivent Charitable.  

While cash donations are the most common way to support the immediate needs of organizations you cherish, there are several ways to increase the impact of your gifts. Thrivent Charitable accepts a wide range of noncash asset donations, including:

• Life insurance.  
• Real estate. 
• Farmland/crops/livestock/equipment. 
• Cryptocurrency. 
• Publicly traded stocks and mutual funds. 
• Privately held stock/family businesses. 

Your financial advisor can help you be more strategic with your donations and find tax-advantaged ways to carry out your giving goals in collaboration with Thrivent Charitable. Talk to your Thrivent financial advisor or contact Thrivent Charitable today.

You can learn more about giving noncash assets for charitable purposes at thriventcharitable.com/noncashassets.