A donor advised fund: one-stop giving
WELS member and attorney Mr. David Nommensen and his wife, Bonnie, knew that setting up a donor advised fund was an ideal and tax-wise way to support ministry at their home congregation, First Lutheran in Elkhorn, Wis.
David likes the fact that their donor advised fund provides predictable, ongoing support to ministry at First, helping fund programs that spread the gospel both inside and outside the church and school. He also likes the tax benefits of the donor advised fund. “It was just part of good stewardship,” says David. “Bonnie and I could look at the taxes that we had saved and do a little soul-searching and perhaps give a little more.”
Donor advised funds are very popular since a donor can give a gift now and recommend the ministries that benefit later. The gift can be divided among the ministries the donor cares about, and a single receipt will be provided for income tax purposes.
In addition to ongoing support for their church and school, the Nommensens know that their family donor advised fund is a wonderful way to involve their kids and grandkids in the joy of giving since they can be included in the decision-making process for the grant recommendations. It’s another way to pass along Christian values to the next generation of believers.
“Our prayer is that the donor advised fund is around a lot longer than Bonnie and I are,” says David. “And it’s a nice opportunity for us to have these conversations with our children about the needs of our favorite church organization. I’m really hoping that someday my grandchildren and great-grandchildren will be donating to this fund and having those same conversations.”
Learn more about donor advised funds by contacting your local WELS Christian giving counselor at 800-827-5482 or [email protected]
This article is reprinted from the April 2022 Grace of Giving newsletter. Read additional articles from Grace of Giving on the ministry newsletters page.