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This compelling phrase captures the vision of Living Hope Baptist
Church: to seek to win and disciple more people through the
ever-expanding ministries of Living Hope. As with any vision, it takes
commitment by those who embrace it to make that vision a reality.
This motto also speaks to our opportunity to make this vision a reality
through gifts to the More Hope for More People building and relocation
fund. As the Holy Spirit compels us to embrace this vision, there may
be questions about how we can financially support this challenging
undertaking.
There are traditional and creative ways in which you can financially
support More Hope for More People. The basic questions you must ask
yourself are: What cash and/or property is the Holy Spirit prompting me
to give? Can I only give now or are there ways I can defer my giving?
Most charitable gifts are outright gifts. Your support of More Hope
for More People may be in the form of cash or appreciated property.
Let’s take a look at giving options:
There is a three year capital campaign associated with More Hope for
More People. Donors can choose to pledge an amount to this fund, making
regular contributions towards that pledge. Offering envelopes will be
available from the church for this purpose. Also, donors may give
one-time gifts for “More Hope.”
Living Hope has procedures in place
to accept such gifts and to provide the donor with a charitable
deduction for any appreciated stocks and/or bonds.
Living Hope also has mechanisms in place to receive donated real
estate property. Such gifts of property can have attractive tax
benefits for the donor.
Any personal property that has a reasonable market for resale (i.e.
coin collections, artwork, cars, collectibles) can be given, allowing
the donor a tax deduction based on the asset’s fair market value.
Note: Non-cash gifts valued at $5,000 or more - other than marketable
securities - will require a qualified appraisal by an independent
appraiser. In addition, the donor will need to complete and IRS form
and get certain required signatures on the form.
Deferred gifts are another means of supporting More Hope for More
People. Deferred gifts can take the form of charitable remainder
trusts, gifts of income interest, retirement plan distribution, life
insurance benefits, or charitable bequests.
A charitable remainder trust is an irrevocable trust established
during life or at death, which will pay any beneficiary a designated
income stream for life or for a term of years, with the remainder of
the trust assets to go to Living Hope at the end of the trust term.
A charitable lead trust is an irrevocable trust which provides for
designated income stream to be paid to Living Hope for a term of years.
At the end of the trust term, whatever remains in the trust will be
returned to the donor or the persons/entities the donor chooses.
Naming Living Hope as a designated beneficiary of part or all of a
donor’s tax deferred benefit can allow the donor to escape both the
income and estate taxes that would be payable if other beneficiaries
were designated. Total tax on these funds can be as much as 80% or
more depending on the type of plan one has. Living Hope, as a
charitable entity, is a very tax-favored option.
It is possible for a donor to give a residence to Living Hope while
at the same time retaining lifetime use. Such a gift is executed
through a restricted deed. The donor receives a charitable income tax
deduction for the value of the eventual charitable gift in the year
that the gift is arranged. The property will transfer to Living Hope
upon the death of the donor.
Policies that are no longer needed for family financial security can
be transferred to Living Hope as the sole owner and beneficiary and the
donor may qualify for an initial deduction for income tax purposes
approximately equal to the value of the policy.
A bequest in your will or revocable living trust for Living Hope
provides the donor with the opportunity to share a part of the estate
for the purpose of reaching more people with more hope.” Bequests can
be in the form of a gift of a specific amount, a specific asset or a
specific percentage of the estate. Bequests can be outright or can be
used to establish or increase to an endowment fund.
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