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Taxable Income

Are Charitable Donations to Recipients Taxable?

Thrivent Financial does not provide tax advice to recipients of funds from chapter activities. When questioned about taxability of proceeds, refer them to their tax preparer. Generally, funds raised by a Thrivent Financial chapter for an individual recipient would not be considered taxable income to the recipient for federal income tax purposes.

Section 102 of the Internal Revenue Code provides that the value of property acquired by gift is excluded from gross income. There are many rulings on what is and is not a "gift" for income tax purposes. However, a "gift" is generally described as "proceeds from a detached and disinterested generosity out of affection, respect, admiration, charity or like impulses."

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Insurance products issued or offered by Thrivent Financial, the marketing name for Thrivent Financial for Lutherans, Appleton, WI. Not all products are available in all states. Products issued by Thrivent Financial are available to applicants who meet membership, insurability, U.S. citizenship and residency requirements. Securities and investment advisory services are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415, a FINRA and SIPC member and a wholly owned subsidiary of Thrivent. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc. They are also licensed insurance agents/producers of Thrivent. Fee-based investment advisory services are available through qualified investment advisor representatives only.

Trust and investment management accounts and services offered by Thrivent Trust Company are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, nor guaranteed by Thrivent Trust Company or its affiliates, and are subject to investment risk, including possible loss of the principal amount invested.

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