Maybe you started a Bible reading plan or a study of the Christian spiritual disciplines this year. There are many modern-day tools that can help facilitate your learning, like YouVersion and iDisciple. But what about the spiritual practice of giving?
What many people don’t realize is a donor-advised fund (we call ours a Giving Fund) is one of the most powerful tools available today for anyone who wants to grow in the grace of giving.
But as you excel in everything – in faith, in speech, in knowledge, in all earnestness, and in our love for you – see that you excel in this act of grace also. – 2 Corinthians 8:7
7 ways a Giving Fund can help you grow in stewardship and generosity
- You can become more intentional – Just by opening a Giving Fund, you’ve taken a concrete step to make giving a habit. You can even automate your contributions to your church or favorite charities, so they become a consistent part of your monthly budget. It’s also easy to set giving goals and track your contributions and grants. Unlike setting aside funds in a regular savings account, resources in your Giving Fund can grow over time, providing even more resources for granting in the future.
- You can be more strategic – If you’ve ever felt pressure to make a gift on the spur of the moment (for example, at year end or due to an urgent request), you know how stressful those decisions can be. But with money set aside in your Giving Fund, you can take time to prayerfully consider where, when, and how much to give and plan a more comprehensive giving strategy. Setting up recurring gifts to your church and favorite charities is easy, and you can even build up a balance for disaster relief or emergency appeals.
- You can probably give more (by giving tax efficiently) – A Giving Fund is the primary way to make tax efficiency part of your charitable strategy, and often results in more resources available for giving. For example, when you donate long-term appreciated assets like stocks, real estate, and business interests through your fund, you typically receive a tax deduction for the fair market value of your gift. The capital gains taxes you may save from giving directly means more goes to charity.
- You can involve your family – With a Giving Fund, you have a tangible way to invite your spouse, your adult children, and even your grandchildren into the giving conversation. By sharing the grantmaking process with your family members, you can lay the foundation for future generations to carry on your legacy of generosity. You can even pre-fund their own donor-advised funds and offer to match their contributions. Read this giver story that shares a real-life example.
- You can become a more cheerful giver – A Giving Fund can make giving fun again and not an administrative chore. You can manage all your giving from one account on your smartphone or laptop and track when, how much, and who you’ve granted to. Imagine needing only one tax receipt at tax time! And you can even grant anonymously when the situation calls for it.
- You can extend your legacy – With a Giving Fund, you can create a succession plan at no cost that will instruct the National Christian Foundation (NCF) about what to do with any remaining balance in your Giving Fund after you’re gone. You can choose successors to receive a fund of their own or charities to receive annual grants. And if you grow to love NCF, you can even choose to support the ministry of the national office or your favorite local NCF team.
- You can become part of a generous community – NCF has 30+ local offices around the country with communities of Christian givers. You can learn more about what some of these generous communities are up to by keeping up with Saturday 7, NCF’s weekly generosity email digest. Sign up or read past editions here.
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