Ways to Give
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?
Outright Gifts
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:
Cash Gifts
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.”
Appreciated Marketable Securities
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.
Real Estate
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.
Tangible Personal Property
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
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.
Charitable Remainder Trust
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.
Charitable Lead Trust
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.
Retirement Plans
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.
Real Estate Remainders
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.
Life Insurance
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.
Will and Revocable Trust
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.