We would love to assist you as you plan for future giving to maximize your impact in the city of Denver!
Give through your retirement plan
Your IRA, 401(k), or 403(b) can be useful assets as you consider giving to ODM in the future. When you turn 70 1/2 years old, you are required to start making withdrawals from tax-deferred retirement accounts. You can transfer up to $100,000 every year from tax-deferred retirement accounts to qualified charities such as ODM and you won't have to pay income tax on the money.
give through your will
A simple and flexible way to give to Open Door in years to come is to include ODM in your will or living trust through a charitable bequest. You can fund your bequest with cash, real estate, closely-held stock, and appreciated securities. When you choose to give through your will your are able to retain control over your assets while living, prevent your heirs from paying high income or estate taxes on assets given, and retain flexibility of changing your will as your family and circumstances change.
Give through donor advised funds
Do you have appreciated stock, real estate, or bonds/mutual funds that you’d like to avoid capital gains but would love to benefit ODM? Consider a Donor Advised Fund. It allows you to get an up front tax deduction, the ability to give in that year and future years, and your giving money also has a chance to grow and appreciate so you can give more. You decide who gets the funds and you avoid unnecessary taxes.
give through life insurance
If you have taken out life insurance policies in the past that are no longer needed, you may be able to name Open Door Ministries as a beneficiary. You can receive an immediate charitable deduction for gift value and insurance premiums and can leverage small annual premiums or one-time cash outlay.
give & receive through a charitable gift annuity
You can convert assets to ongoing fixed income payments to make a future charitable gift to Open Door Ministries or convert assets to ongoing income payments that vary based on investment value to make a future gift. By doing this, you can receive a generous rate for ongoing income, receive an immediate charitable deduction, and more. With a charitable gift annuity, you or a loved one can receive fixed income for life.