Spring 2024 newsletter

finance@goharness.com (Laurie Jellison) — Sun, 25 Aug 2024 20:37:09 GMT

Why to consider legacy giving

finance@goharness.com (Laurie Jellison) — Sun, 25 Aug 2024 20:23:33 GMT

By: Kim Barnes

There are many reasons for you to consider designating a worthy non-profit as a beneficiary in your Tax Plan, Will or Estate Plan. Whether those reasons are personal or financial, Legacy Giving is a win for you AND the non-profits you support.

During your lifetime, you can support the causes you care about by donating cash, securities, and even IRA Required Minimum Distributions (RMD). You can receive tax benefits from such donations; just be sure to work with your tax advisor to ensure you handle the gift properly. In most cases, your IRA custodian must distribute your RMD directly to the non-profit in order for you to gain the tax benefit. Some donations qualify for additional tax benefits, such as donations to SERVE’s Food pantry, which qualify for food pantry tax credits, and sometimes Neighborhood Assistance Program tax credits. Check with your non-profit of choice to confirm they are able to receive the kind of donation you wish to give (securities, RMDs) or to see if tax credits are available.

I’ve seen Legacy Gifts make a huge impact. Whether your dollars pay off a mortgage or provide funds for food, you’ll feel good knowing you’re making a difference. When I designated SERVE, Inc. as my beneficiary, I felt immense satisfaction in knowing I’m doing my small part to help SERVE continue its good work, even after I’m gone.

Once you’ve made the decision to make a Legacy Gift, I urge you to be thoughtful about which non-profits you choose to designate as beneficiaries. Examine their history and timeline; do they have a proven track record? Do they have good governance, such as a stable Board of Directors, clean audits, and grant compliance? Is their mission one that is critical to the community, and have they adapted over the years? Is their reputation sound? SERVE has a track record spanning over 50 years of service to Callaway County, and I fully expect SERVE and their mission to be active and viable for many more years.

You can earmark your gift for a specific purpose, like facility improvements, retirement of debt, program delivery, or administration. You may also direct your gift to the general fund, which would help the organization in any way needed. Use caution when earmarking gifts- some may go unused if the earmark is too specific or doesn’t allow flexibility, should the programs change with time. I chose to direct my Legacy Gift to the general fund, because I trust the future board members of SERVE to put the funds to best use.

The bottom line is this- no gift is too small to make a difference, and the time to act is NOW. Think about it, consult your advisors, and put your decision into action. You won’t regret it!

Mission garden 2024

finance@goharness.com (Laurie Jellison) — Fri, 23 Aug 2024 13:23:36 GMT

Did you know that SERVE, Inc has its own Mission Garden that provides fresh picked produce for

our food pantry? While the pantry often gets donations of produce from local grocery stores, this is a

way to ensure that the freshest, in-season vegetables make it to the tables of our neighbors in need.

The 2023 Mission Garden produced 1,744.21 pounds of produce! The garden produced a wide variety of fruits and vegetables, from cantaloupe and watermelon to tomatoes, lettuce, zucchini, okra, radishes and more! We feel so lucky to have a

little bit of space on our property to be able to help us in our mission to provide healthy foods to those who need it.

Our goal for this year is to raise a full 2,000 pounds of produce, but we need some help planting, weeding and harvesting this year. It doesn’t require a great deal of time, and the hours are flexible. If you are interested in volunteering to help with our Mission Garden, please call us at 573-642-6388 or email us at oneserve@serveinc.net.

serve-inc

Spring 2024 newsletter

Why to consider legacy giving

By: Kim Barnes

Mission garden 2024