The Right Tools Make all the Difference

As a woodworker, you get to know your tools well. You need to know what they can do, what they can’t do, and how to make sure they are ready when you need them.  Some tools you will use only once or twice a year, some every day. Some have very specific uses and are complicated (like a Rabbet Plane) and some are basic ones that you use in a lot of different projects (like a mallet). Ultimately you need the right tools for the right job.  And that is why the best woodworking advice I have ever received is “The right tool makes all the difference”.

When it comes to supporting the places you love that advice still rings true. So, when it comes to the tools of generosity, instead of heading to my local hardware store, I called Joe.

Joe Sullivan is the ELCA Gift Planner and one of the resources we turn to when churches or families are looking for the right giving tool. Joe assists Lutheran congregations in growing a culture of intentional generosity and financial stewardship to expand the ministries of the ELCA locally, nationally and globally. Joe also provides individual donors with confidential, free consultation on a wide variety of charitable giving options. He serves mostly in western Minnesota and the Metro area.  However, he also makes his way to western Wisconsin often. This makes him a wonderful resource for LWLBC and for people who are looking for tools to help them give to God’s mission at Camp Wapo, Ox Lake, Wilderness Canoe Base.

I was able to reach Joe via Zoom and we had a great discussion about the tools that make giving easier. I thought I would share some of his wisdom here.

 “Planned giving means everything that is more complicated than writing a check or giving cash.” 

Ill bet you have never had the offering plate passed in front of you and caught yourself thinking, “I wonder if I could put 40 acres of farmland in there?” That’s not really what that tool is designed for, it’s designed for you to give checks or cash. But there certainly are ways to give property like land, cabins, vehicles, even grain or livestock.  When people want to give something different than just cash, they need to have a discussion about the tools of planned giving.

“There are different tools depending on when and how you want to give.”

Donors can give gifts of stock. Especially in a very fluid market, this might be a very beneficial way of supporting the camp. Stock can be gifted by simply calling your broker.  At certain ages, your options increase. Those of us who are in our 60s and 70s have options to look at our IRAs. Check with your financial advisor or tax professional about the potential to use a Required Minimum Distribution (RMD), Qualified Charitable Distribution (QCD), or a Donor Advised Fund (DAF) to increase your options and your level of generosity.

One of the more popular ways to give is to give through a Donor Advised Fund. A DAF can be set up using a variety of assets, can have great tax advantages, and may allow you to give larger gifts at certain times. More than 2 million DAFs have been created in just the past 5 years.

“You can be a hero for the camps even after you are gone.”

We all aspire to do good things for the organizations we love. Many people are using bequests to unleash generosity after they pass away. Maybe it’s a set amount of your estate, or maybe a percentage. Most bequests are revocable, which means they can be changed, cancelled, or updated at any time. Giving in this way can be transformational for the camp and for the donor. And their flexibility means that you can customize and rework the plan if your situation changes.

“Your pledge or commitment to the camp is good stewardship practice.  It tells the organization ‘I have set a place aside for you’.”

Charitable Remainer Trusts and Retained Life Trusts are great ways to both give now and later, and depending on the situation, may double as a source of income for you and your family. Even if you don’t share or even know the details of a trust, just sharing your intent to make a gift helps the camp know how important the mission is to you and your family.

Nurturing a culture of generosity in your family and in your faith, community happens when you pair the right tools with the right task. If you would like to know more about what gifts to use, we encourage you to reach out to your financial advisor. You or your congregation should also reach out to Joe Sullivan. He knows a lot about the tools of giving and which tool could be the best for your project.

Thank you for spending time in your toolbox and for all the places and ministry you build with it.

You can email Joe Sullivan, Joe.Sullivan@elca.org, and ask him about what giving tools are best for you.

For simple answers to the sometimes complicated ways of giving to the camps, please visit our website resource page and click on “IRA Qualified Charitable Distribution and Stock Gift Instructions” or just give us a call.

See you at camp!

Joel Abenth
Director of Donor Engagement
JoelA@CampWapo.org