Charitable Remainder Trust |
You can establish a charitable remainder trust with stock or real estate. This special type of trust allows you to receive lifetime income and make a significant gift to your church and its stewardship campaign. There are significant tax advantages to this type of trust and careful planning is needed. For assistance in this type of giving contact Willowbrook Church.
Increase Giving With Increased Fixed Income |
Many retired individuals depend on fixed income investments for their income. In periods of fluctuating interest rates, obtaining a reliable safe income is a challenge. One alternative is a Charitable Gift Annuity, from which a gift can be made to the stewardship campaign of your church.
Charitable Gift Annuities offer generous guaranteed lifetime payments at a level much higher than Certificates of Deposit and other secure investments. In addition, a portion of each payment is tax-free and Charitable Gift Annuities offer charitable income tax deductions as well. At death, the remaining balance in the Charitable Gift Annuity is distributed to the ministries of your choice.
Increase Giving With Increased Income |
Some people receive periodic increases in salary or bonuses from their employers. The temptation for many of us is to increase our lifestyle to fit the higher income. In many instances, families have decided that they will commit the full amount of salary increases.
Commit Unexpected Cash |
Often, people ask God to show them a way they can give beyond what they can presently see or afford. Sometimes, the answers come unexpectedly. A couple in Alabama had been praying for weeks about their commitment to the church stewardship campaign. Much to their surprise, they received an inheritance of several thousand dollars. They gave the entire amount to their church as part of their three-year commitment, along with a commitment from their regular income.
Give From Your Excess |
A young man decided that two collector’s baseball cards worth over $20,000 he had been holding a number of years would be the most appropriate means of touching sacrifice for his family. Some families save money over a period of years for a special project. A couple in Louisiana had saved $80,000 to build a lake cabin. When their church entered a stewardship campaign, they decided the needs of the church were greater than their need for a second home.
Redirect Present Expenditures |
Often, families have significant short-term expenditures for special needs. One example is the large expenditure a family incurs for a child to attend college. A family in Georgia realized that their daughters would be graduating from college during the three years of the stewardship campaign and, as a result, they were able to increase their commitment to the second and third years of the campaign by thousands of dollars by giving what they had been spending on their daughters. Another example would be the cash flow that is freed up when a loan is paid.
Practice Priority Budgeting |
Many families will choose to rearrange their priorities and give up something in order to give more to a stewardship campaign. Priority budgeting may mean postponing a planned expenditure such as a new car, vacation, home remodeling, or other major purchases. Many Christians giving to stewardship campaigns find a way to give through sacrificial commitments made in faith and coupled with priority budgeting.
In reviewing these suggested ways to give please be reminded that as a general rule, a gift of appreciated property (long-term capital gain property) is deductible up to 30% of your adjusted gross income, and a gift of cash is deductible up to 50% of your adjusted gross income, with a five-year carryover for any “excess.” In all cases, please consult your tax advisor regarding the tax, financial, and practical implications.