You may designate The Summit Church to receive all or a portion of your estate after your lifetime. This type of giving may be accomplished through:

• Will or Trust: You can name The Summit Church in your will or revocable living trust as a beneficiary, and your estate will receive an income tax deduction for the value of your bequest. Learn more at one of our upcoming Estate Planning Seminars.
• Retirement Accounts: You can name The Summit Church as a beneficiary of your IRA, 401(k), or other qualified retirement plans. Any amounts remaining in your plan, free of income and estate tax, will transfer to the Summit. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.
• Life Insurance: You can simply name The Summit Church as beneficiary of part or all of your life insurance policy. You can also choose to make the Summit the owner of a life insurance policy that is no longer needed. When the Summit is made owner, you may receive a tax deduction for the amount of premiums you continue paying each year. If the policy is whole life, you may receive an immediate tax deduction for the cash value amount. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.

If you are interested in any of these ways to give, please contact our Pastor of Stewardship and Generosity, Blair Graham, at bgraham@summitrdu.com or (919) 354-5952.

Giving appreciated stocks and mutual funds is a great way to maximize your giving because you receive an immediate income tax deduction for the full fair market value of securities you transfer that you’ve held for at least one year. In addition, you pay no capital gains tax on the difference between your cost and the fair market value. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.

How to Give

• To improve efficiency, the Summit has partnered with the National Christian Foundation (NCF) to process gifts of marketable securities, such as stocks, mutual funds, or bonds, directly.
• If you’d like to give a stock, mutual fund, or bond gift, please follow these instructions.
• If you would like to give a marketable security to the Summit, please email Madison Hoell at mhoell@ncfgiving.com or call (919) 438-0350. You will be required to provide the following information:
1. Where the shares are held
2. Name(s) of contributor(s)
3. Exact number of share(s) and ticker symbol(s)
4. Mailing address for receipt purposes
• If you are interested in giving restricted securities, stock options, or matching gifts from your employer, please contact Madison Hoell at mhoell@ncfgiving.com or call (919) 438-0350.

IRA Qualified Charitable Distributions

If you are over 70-1/2 years old, then you may distribute directly from your IRA to The Summit Church up to $100,000 and exclude the contributed amount from your gross income for tax purposes. This amount can be counted towards the IRA’s annual required minimum distribution. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.

Here are a few articles that explain the process:

• NCF: Qualified Charitable Distributions: Tax-wise Planning so You Can Give More
• MarketWatch: Beat the System With Charitable Donations From Your IRA

Many banks offer their customers the ability to setup a recurring bank draft from your account mailed directly to a recipient (such as the Summit). If interested in this low-cost giving option, please contact your bank to set up a recurring gift to The Summit Church as a new payee.

If you’d like to discuss a possible gift of real estate, a trust or retirement account, credit card rewards points or airline miles, or another unique gift, please contact our pastor of stewardship and generosity, Blair Graham, at bgraham@summitrdu.com or (919) 383-7100.