Ways To Give PLANNED GIVING
More and more, people are realizing their dream of making a significant gift for the cause of Christ. How? By understanding that writing a check is not the only way to make a gift. You may want to consider one of the opportunities listed below that is best suited for you. Or, you may need income for life – so an annuity of trust may be right for you.
Securities: Gifts of long-term, appreciated securities (bonds, stocks, and mutual funds) are easy to make and can be made by friends of St. John’s. There are many advantages to this method of giving: contributors receive a full charitable deduction for the fair market value of the securities; they avoid capital gains taxes; and there is no commission for the transfer! St. John’s uses the United Methodist Foundation for each transfer.
Life Insurance: Life insurance plays an important role in providing financial protection for emergencies, asset protection for estates, and security for families with children. As family situations and needs change, however, the need for life insurance may also change. Life insurance offers an opportunity for a family to give significantly. The policy may be paid up or it may be a whole life policy with significant cash value with payments that will need to be paid. St. John’s can evaluate your policy to assist you with a decision.
Perhaps you have a policy you wish to keep, but you would like to make St. John’s the beneficiary of the policy. The cash value would still be available in the case of an emergency, but the proceeds would be distributed to the church upon your demise.
Will and Bequests:
This is one way everyone can give. You may bequest a gift of any kind or amount and make St. John’s the beneficiary. After prayer and talking with those closest to you, consider one of these possibilities:
A Bequest to St. John’s in the form of:
- A specific amount of money
- A specific piece of personal property
- A specific percentage, like 10%
Conditional bequests based upon certain conditions that must be met.
Residuary bequests – the “rest, remainder, and residue” of your estate after all other specific bequests, expenses, and taxes have been paid.
Retirement Plan Assets: By simply making St. John’s the last beneficiary of an IRA or other type of retirement plan, you can pass on remaining assets in these plans free of income and estate taxes after your demise.
What if I need “Income for Life” and a Tax Deduction?
Gift Annuities: A charitable gift annuity gives you a lifetime income with immediate tax benefits. Annuity rates are much higher than rates on certificates of deposit, with part of the income received being tax-free. Upon your demise, the annuity balance benefits the ministry of the church.
Charitable Trusts: Various types of trusts can be established – such as a charitable remainder trust – that will benefit you and the church. A charitable trust can provide income for life. You can benefit from savings in capital gains, income, inheritance and estate taxes. Upon maturity, the balance in the trust benefits the church.
Electronic Funds Transfer: (EFT) is both a convenient and reliable way to fulfill your financial commitment to the church. EFT is also the most cost-efficient method of giving to the church since it reduces administrative costs and helps maintain a predictable cash flow. To choose EFT, simply contact the church Financial Secretary, Lou Lescas, at 215-828-5528.
What do I do next?
You can contact any member of the Endowment Committee for assistance:
Ira Hoffman, 215-485-1103, email@example.com
Lou Lescas, 215-828-5528, firstname.lastname@example.org
As always, seek assistance from your financial advisor for suitability of gifts and tax benefits.