In Matthew 25, Jesus shares “The Parable of the Talents.” Jesus describes that there were three servants entrusted with the master’s money while he went away. We learn that upon the master’s return, two of the servants doubled the master’s money! How did they accomplish this? In Matthew 25:16, Jesus said, “The man who had received five talents went at once and put his money to work….” They made informed and prudent decisions that yielded a return for their master. This parable challenges us to do likewise with the talents our heavenly Master has entrusted to each of us. To that end, in May, Trinity Christian School sponsored a seminar called “Giving Wisely,” focused on how individuals and businesses can plan for the future while also giving to the charities of choice in the most tax advantaged ways.
At Trinity, our heart is to help equip believers with knowledge and options, allowing them to be wise financial stewards for the kingdom. This is why we offered our first “Giving Wisely” Seminar in May 2023. Partnering with three community experts: Chris Inman (Inman Law), Matt Peterson (Precision Tax and Accounting Services), and Al Anderson (Yavapai Financial Planning), a group of 16 individuals came to hear an hour-long presentation on topics including;
Will & Estate Planning
IRA / 401K Distributions
Charitable Gift Annuities
Donor Advised Funds
One of the giving examples shared during the seminar involved how to donate from IRA or 401K required minimum distributions. Once an individual reaches 72 years of age, the IRS requires a minimum distribution from tax-deferred retirement plans. It was shared by our speakers that many individuals receive this distribution then write a check to their church or favorite charities and are consequently taxed on the entire amount of the distribution. Alternatively, if the individual directs their recordkeeper or financial advisor that all or a portion of the distribution is given directly to the non-profit organization, there are no taxes withheld on the donated amount. This means the individual benefits from reduced taxes and may choose to expand their giving.
Other speakers shared that there are ways to give assets like land or homes in ways that can create benefits for both the giver, their heirs and the non-profit recipient. Feedback from participants about the seminar was very positive.
We believe God asks us each to be wise stewards of the gifts entrusted to us. As such, we plan to hold future “Giving Wisely” Seminars in the future to share this helpful information. If you have questions about the seminar, please feel free to contact me. Otherwise, please keep an eye out for information on our next event.
Mark Timm, Advancement Director