What are Thrivent Choice Dollars?


Quick Answer

Thrivent Choice Dollars are grants donated to nonprofit organizations or churches on behalf of qualifying Thrivent Financial chapters. The leader of each chapter nominates organizations to receive grants, and the amount of grant money is determined by the premiums and contract value of policies held by the chapter.

Continue Reading

Full Answer

While chapter leaders nominate organizations to receive funds, Thrivent Financial holds final authority over which charities or churches receive Thrivent Choice Dollars. A chapter directing funds to a particular charity is not a guarantee that this charity will receive a grant.

Participating in the program is voluntary, and members do not pay extra for the opportunity to nominate charities. Thrivent Choice Dollars come out of a fixed budget and are not paid for by members. This budget is paid for by Thrivent's insurance products and annuities; because these products are tax exempt, Thrivent donates the amount it would have been taxed as Thrivent Choice Dollars.

Owning mutual funds or credit union products does not count toward qualifying to direct Thrivent Choice Dollars. These for-profit products are not tax exempt and do not generate funds for the charitable grants.

Thrivent Choice Dollars are not tax deductible. Because these grants are not paid for by members, they do not count as charitable donations for individual tax purposes.

Learn more about Business & Finance

Related Questions