The 2100 Foundation
What is the 2100 Foundation?
The 2100 Foundation is simply a vehicle, here at Woodmont, for receiving planned estate gifts and other donations over and above your normal tithing to the church budget. The 2100 Foundation will receive these gifts and invest them so that they will grow and yield future distributions for the church’s ministries. And if you wish to leave your gift for a specific purpose, we are happy to ensure that your donation goes to that specific purpose! Many of our sister churches already do this, and all of your gifts to the 2100 Foundation qualify as a charitable donation to a 501(c) entity.
IRA or 401k Distributions
Making IRA or 401k distributions directly to the church can be financially advantageous. If you are 70 1⁄2 and older, you may be dealing with your annual required minimum distribution to meet your rmd requirement or you may be receiving a monthly distribution from your IRA to supplement other income. If you are in this situation, you could give to the church directly from your IRA and thereby lower your family’s tax bill. Whether you are giving to the church regularly, want to give to the 2100 Foundation, or want to donate to the soon to be launched Prepare the Way capital campaign, the key factor is to have your financial institution make your IRA distribution directly to Woodmont Baptist Church. By having the payment made directly to Woodmont, instead of you taking an IRA distribution and later making a gift of those monies to the church, it becomes a “Qualified Charitable Donation” that is not taxable income to you or your family! Keep in mind that the minimum age for taking a Required Minimum Distribution was recently raised from 70 1⁄2 to age 72.
We hope this information will prompt you to prayerfully consider how you can plan your giving. Your financial advisor or accountant is likely the best source of advice on these issues, but if you need any additional information or guidance, the 2100 Foundation Committee would be happy to speak with you.
If you have questions on any of these items mentioned, just email Lil Cook at firstname.lastname@example.org or call the church at 615-297-5303.
The 2100 Foundation Committee
Barry Minter (Chairman)
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