Types of Campaign Gifts and Commitments
There are several ways of giving through a capital stewardship campaign. Please consider consulting with a qualified professional (e.g., attorney, CPA, estate planner) about which ways may be best for you. Once you understand that you gift is prompted by your response to God’s love, it seems appropriate to find other ways of giving which will enable you to give far more than you would be able to give out of your regular income.
This is the most common form of campaign giving. Cash gifts can be one-time gifts. This often is true for large gifts. Cash gifts most often are given over time on a regular basis, weekly or monthly for three years.
Gifts of Stocks, Bonds, Mutual Funds, Real Property, Paid Up Life Insurance Policies and Tangible Personal Property
Appreciated financial assets can be given directly to the church for liquidation. Donors will receive credit for a charitable deduction equal to the full current market value of the gift. At the same time, they will avoid most, if not all, capital gains taxes, even though the gift increased in value since it first came into your possession.
A charitable lead trust may be established to distribute income to the church for a period of years. After the term of years is satisfied, the remaining trust principle is distributed to the beneficiary of your choosing.
Your Tax Advantage
When you make a gift to the church and you itemize your deductions, you will not have to pay income tax on the amount of your gift. This means, for example, if your gift is $10,000 and you are in the 25 percent tax bracket, you will save $2,500 in income tax for the year. This being so, you might consider giving your tax saving of $2,500 along with your gift of $10,000.
Gifts Through Your Corporation
Some persons can give more when they give either in part or entirely through their corporation rather than from their personal income.
Gifts of Live Insurance
You may name your church as the owner and beneficiary of a life insurance policy that you feel is no longer needed for the protection of your family. This kind of gift offers some meaningful tax advantages.
While you may give to your church while living, you may also want to designate a portion of your estate to the church in your will.