All Gifts Help Meet the Challenge
There are several ways of giving through THE MASTER’S PLANCampaign. You are encouraged to talk with a qualified professional (i.e., attorney, C.P.A., estate planner) about which ways may be best for you. Once you understand that your gift is prompted by your response to God’s love, it seems appropriate to find other ways of giving which will enable you to give far more than you would be able to give out of your regular income.
CASH GIFTS
This is the most common form of giving.
GIFTS OF STOCKS, BONDS, MUTUAL FUNDS, REAL PROPERTY, AND TANGIBLE PERSONAL PROPERTY
These can be given directly to the church for re-sale. You will be credited with a nontaxable gift equal to the full current market value of the gift. At the same time, you will avoid most, if not all, appreciation taxes, even though the gift may have increased in value since it first came into your possession.
GIFTS OF PROPERTY AND ASSETS AT BARGAIN PRICES
You may not be able to give a property or an asset in its entirety, but you may be able to give a portion of a property or an asset. In this case, consider selling a property or an asset to the church at a bargain price. You will be credited with a non-taxable gift equal to the difference between the bargain price and the current market value. At the same time, you will avoid most, if not all, appreciation taxes even though the gift may have increased in value since it came into your possession. The church can then sell the property or asset at the current market value.
CHARITABLE TRUSTS
Various types of trusts may be established to pay you (or those you designate) an income for a term period or until your death (or the death of those you designate). Afterward, the amount you have designated as a gift to the church will become the property of the church.
YOUR TAX ADVANTAGE
When you make a gift to the church and you itemize your deductions, you will not have to pay income tax on the amount of your gift. This means, for example, if your gift is $10,000 and you are in the 28 percent tax bracket, you will save $2,800 in income tax for the year. This being the case, you might want to consider giving your tax saving of $2,800 along with your gift of $10,000.
GIFTS THROUGH YOUR CORPORATION
Some persons can give more when they give either in part or entirely through their corporation rather than from their personal income.
GIFTS OF LIFE INSURANCE
You may name your church as the beneficiary of a life insurance policy which you feel is no longer needed for the protection of your family. This kind of gift offers some meaningful tax advantages.
BEQUESTS
While you may give to your church while living, you may also want to designate a portion of your estate to the church in your will. This way of giving may enable you to give far more generously than otherwise you are able to do while living.
