U.S. SAVINGS BONDS AND ANNUITIESU.S. SAVINGS BONDS AND ANNUITIES

You can designate the Foundation as beneficiary of your retirement assets after your death. Assets could include the following: IRA, Tax sheltered annuity, 401(k) and 403(b) plans.

The government restricts the transfer of certain U.S. savings bonds. You may cash in the bonds and receive a charitable deduction for the amount of the cash gift, or bequeath the bonds in your will or living trust.
In most cases, the transfer of commercial annuities (including variable annuities) as a gift during life will result in recognition of income and possible early withdrawal penalties. Consider giving these assets as beneficiary proceeds at death.

One Donor's Story

The Donor

A retired 91-year-old woman in Florida wanted to create a permanent stream of support to both Lutheran and non-Lutheran charities.

Her Gift

  • She made a gift of $52, 000 in highly appreciated mutual funds and the cash proceeds from some savings bonds.
  • Her fund benefits two Pennsylvania churches, her church in Florida, Lutheran World Relief, ELCA World Hunger Appeal and Allegheny Lutheran Social Services in Pennsylvania.
She later added $110,000 to her fund of which $10,000 benefits Habitat for Humanity. When she died, another $135,000 of annuity proceeds came to the fund to benefit these charities.