Generosity During the Pandemic

Planned Giving

A generous person will prosper; whoever refreshes others will be refreshed.
Proverbs 11:25

During this time of national and worldwide crisis and pandemic, we are thankful to be able to share a positive message. Generosity levels have increased significantly during this period, as people are using their resources to help others locally, nationally, and around the world.

Fueled by the COVID-19 outbreak, social issues, and the rapid increase in unemployment, giving levels in the US have set new records. And in an effort to encourage charitable giving, as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress, the amount of cash contributions that could be taken as a tax deduction was expanded.

Following those same trends, AG Foundation has also witnessed donors giving at a rate that is nearly doubled compared to this same time period in 2019. Unlike traditional foundations to which donors give money directly to support a specific cause, AG Foundation uses a unique conduit structure whereby donors are able to direct their giving through the foundation to the ministries or charities of their choosing.

One of the more popular giving tools that can be used to make gifts is a Donor Advised Fund (DAF), often referred to as a “giving fund.” This giving fund gives the donor freedom to make a gift to their DAF and receive an immediate charitable tax deduction and then the donor can request grants to be made to a charity at any time in the future. Funding can be made with cash, as well as appreciated assets such as stock and real estate. A DAF, as well as some of our other products such as Charitable Gift Annuities (CGA) and Charitable Remainder Trusts (CRT), can be customized to meet the specific needs and desires of the donor. These products provide the donor not only with tax deductions, but in some cases, the avoidance of capital gains on gifts of appreciated assets, and, based on the type of product used (CGA or CRT), fixed payments for life. Additionally, these products provide the donor the ability to select which ministries and charities they want to support such as food banks, elder care, missions, local churches, disaster relief, and many more both at the local and national level.

To learn more about charitable giving and how you can help build the Kingdom while receiving benefits for yourself, click here.

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