You can create a Legacy Gift by creating an endowment that will continue to support the work of NCM in perpetuity. You can leave a lasting legacy of compassion by creating an endowment with a current gift or through your estate plan. In particular, you can give children the gift of a future through a Child Sponsorship Endowment.
One benefit of a Charitable Remainder Trust or Charitable Gift Annuity is that you receive income from the gift. Usually the income received is substantially greater than the income being received before the gift. In the case of the Charitable Gift Annuity, the income payments are guaranteed for life and are based on your age. These agreements can be funded with cash or non-cash gifts such as appreciated stock.
With a Charitable Lead Trust, you transfer assets to a trust that pays income to NCM for a specific number of years determined by you. At the end of the time period, the assets are transferred back to you or to others you designate. Depending on the performance of the trust, future generations may receive more or less the original amount deposited. The income tax effects of this tool are complex and vary based on the conditions of the trust.
Through a Life Estate Agreement, you can give away your home or farm today but continue to live on it and also receive a charitable income tax deduction. You continue to be responsible for maintenance of the property during your lifetime. At your death, the property can then be sold, with benefits going to NCM.
The fastest growing form of charitable giving is the Donor-Advised Fund (DAF). With a DAF you make an initial gift of property or cash and receive a tax deduction for the full value of your gift. Your gift is then held and invested until you recommend distributions to a charity at a future time. You can designate your distributions to Nazarene Compassionate Ministries.
The sale of stocks, bonds, mutual funds, real estate, or business interests that have appreciated in value generate hefty capital gains taxes (U.S. federal and state). Your gift of these properties to NCM would avoid all capital gains taxes, and you would receive a charitable income tax deduction equal to the fair market value of the gift. Appreciated property gifts can be made directly to NCM or can be made in the form of a deferred gift such as a Charitable Remainder Trust or Life Estate Agreement.
Pensions and IRA accounts are the most heavily taxed accounts you own. Your heirs will pay income tax (U.S. federal and state) and potentially estate taxes, too. Naming NCM as the sole beneficiary will avoid all taxes on those funds. You can also name NCM as a partial beneficiary if you wish for a portion of your funds to go to your heirs.
One of the simplest ways to give is a bequest provision in your estate plan documents. Your bequests can be for a specific dollar amount, a percentage of your estate (a 10% tithe, for example), or the remainder of your estate after you have provided for others.
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