Planned Giving

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What we do with our assets may be the most eloquent statement of all regarding what we truly believe.

Consider prayerfully the many options you have to give a gift that goes on giving through God's mission.

Outright Gifts
A common choice, the most popular method of making a charitable gift is through an outright transfer. Usually, outright charitable gives are in cash, but any type of property, including stock, bonds, real estate and collectibles may be given.

Real Estate
A Valuable, Often Overlooked, Opportunity for Giving Any type of real estate can be given. In fact, a gift of a personal residence or farm may be made to a charity now, while you continue to live there during your lifetime. A Current income tax deduction may still be available. Outright gifts of other real estate can also qualify for an itemized charitable income tax deduction.

Life Insurance
An Opportunity to Give Beyond Your Means Many individuals name their Church as the owner or beneficiary of a life insurance policy. This gift they might otherwise be able to make.

Some individuals, who want their life insurance proceeds paid to their family, name a church or charity as the contingent beneficiary to receive the proceeds if the family members do not survive the insured. A charity may also be named as the recipient of annual dividends from insurance policies. All of these gifts occur without probate or other administrative delay.

Retirement Funds
An Increasingly Popular Item To Give More and more people are naming their church as a contingent beneficiary of their retirement plans or individual retirement accounts, to succeed other family members. If you and other family members die before receiving all of the funds, the church would receive the remaining property.

Bank Accounts
An Inexpensive, Flexible Gift Opportunity A popular way to make a charitable gift is to open a bank account in trust for a charity. The person who opens the account has the right to make deposits, to make withdrawals, or to close the account at any time. The balance remaining in the account at death automatically becomes the property of the named charity. This occurs without probate or other administrative delay.

Deferred Gifts
Set Up To Provide Income or Life Use to Your Beneficiaries or The Church

There are five primary types of deferred life income gifts.
  1. The Charitable Remainder Unitrust is an irrevocable transfer of property to a trustee, who pays you and/or your chosen beneficiaries an income for life. The income is a fixed percentage of the annual fair market value of the trust. Thereafter, the trust assets become the sole property of the charity.
  2. The Charitable Remainder Annuity Trust is similar to a Charitable Remainder Unitrust, except the annual income paid to the beneficiary is a fixed annual amount.
  3. A Pooled Income Fund provides annual income for your life or the life of your chosen beneficiaries. The amount will be what the charity gets when investing your funds together with the gifts of others who make similar gifts.
  4. A Charitable Gift Annuity provides for a fixed annual payment for the life of the beneficiaries.
  5. A Charitable Lead Trust provides the income to the charity for a period of years, with the remainder coming back to you or going to your chosen beneficiaries.
In each of the above cases, itemized income tax deductions result. Responsibility for investing your gift may also be shifted to the charity. Discuss these advantages with your tax advisor.

Charitable Bequests using Wills or Trusts Can Leave A Charitable Legacy
Outright gifts at death through a Will or Trust are perhaps the most common method of making a bequest at death to a charitable institution. This may be a fixed dollar amount, a percentage of the estate, a distribution as a successor to a deceased beneficiary, or a fit as the final taker if all named beneficiaries are deceased.

(parts reprinted with permission from GBOD; "Giving is an Act of Faith" copyright 1995.)