New Promise Endowment
What is the New Promise Endowment?
In 2009, New Promise established the Mission Endowment fund to support building up the Body of Christ through support of ministry partners and scholarships in the St. George area, the Grand Canyon Synod, and the ELCA.
- The Dove Center, St. George, Utah
- La Sagrada Familia Mission, Scottsdale, AZ
- ELCA World Hunger
- ELCA Disaster Relief
How to Contribute
Qualified Charitable Distributions
For investors older than 70 1/2 who are taking required minimum distributions from your traditional IRAs and 401Ks, you can steer a portion of your distribution—up to $100,000—directly to the qualified charities. The value of having your IRA administrator cut a check to the charity is that it doesn’t inflate your adjusted gross income.
Donating Appreciated Securities
This strategy can yield three key benefits. First, scaling back large positions by donating them to charity can help reduce a portfolio’s risk level. Donating appreciated securities carries valuable tax savings—namely , the donor won’t owe capital gains taxes on the appreciation in the shares, and he or she can deduct the full market value of the shares at the time of the donation, provided the investor has owned them for up to one year and provided the deduction is less than 30% of adjusted gross income. If the amount of donation exceeds what’s deductible in a given year, any excess can be carried forward and deducted for up to five years in the future.
Life insurance can be used to financially support a ministry that has been dear to you and can be an important component of your life-
Will or Trust
A Trust is an arrangement under which one person, a trustee, manages property for a beneficiary. There are many kinds of trusts, some created during the settler’s lifetime and some at death. Trusts are used for, among other things, avoiding probate court proceedings, saving on estate tax, providing quality management of assets and keeping money out of the hands of improvident beneficiaries. You can also designate assets through a will or trust. To set up a will or trust it is advisable to consult a lawyer in you state.