A Guide to Giving For The Future
Most people, given the opportunity, would like to feel that they have made a lasting contribution toward a better world, that their lives have touched others – perhaps for many generations to come.
That small touch of immortality – the quiet satisfaction of helping perpetuate something meaningful – is the rich reward enjoyed by many who have made legacy gifts for the church’s future. These gifts, made during the donor’s life or through one’s estate, strengthen the ability of the church to provide for future generations of members.
You can make a difference. We encourage you to explore various options in order to develop a charitable giving strategy that is most advantageous to you. Some options are outlined on the attached chart.
What is a Legacy (Planned Gift)? It is a contribution that is formally committed to church. It is a gift that generally does not become available to the church until some future date.
How does a Legacy Gift benefit the donor? It may allow the donor to make a significant gift beyond what he/she can give annually. It may minimize capital gains taxes. It may serve as a charitable income tax deduction. It may reduce estate taxes. It may provide income for life to the donor or other beneficiaries.
How does a Legacy Gift benefit the church? It allows the church to increase its assets. It helps assure the future viability of the church by building an endowment. It encourages other individuals to consider making such a gift. It enhances the commitment of the donors to the church.
Where do I start? Consult a professional financial advisor or an attorney, CPA or other advisor. Due to the complexities of rules relating to tax deductions for charitable giving, we recommend that you consult your advisor when considering a planned gift. Review simple estate planning strategies. Decide what type of gift is right for you. As you are preparing your will, please consider how you can also do something for the future of Zion Baptist Church. Supporting the Zion Baptist Church through a planned gift is an excellent way to receive significant benefits while securing the future of Zion Baptist Church.
Legacy Giving Options: Find a Plan That is Right for You.
- Bequest in Will
A gift you make by naming Zion Baptist Church in your will.
Is there a minimum contribution amount?
No minimum required. It can be a percentage or a specific amount.
What are tax benefits?
Estate tax deduction for the value of your bequest to Zion Baptist Church.
What are other benefits to me (the donor)?
Gives flexibility in providing for family needs first.
- Life Insurance Gift
A gift with an old or new policy with Zion Baptist Church named as beneficiary and owner.
Is there a minimum contribution amount?
No minimum required.
What are tax benefits?
Immediate income tax deduction for gift’s value, plus possible estate tax savings.
What are other benefits to me (the donor)?
Provides a way to make a significant gift with little expenditure.
- Living Trust
A trust established to take effect during your lifetime with Zion Baptist Church named as beneficiary.
Is there a minimum contribution amount?
No minimum required.
What are tax benefits?
Possible savings in estate taxes if Zion Baptist Church is the beneficiary of the trust reminder.
What are other benefits to me (the donor)?
Allows for terms of the trust to be changed at any time.
- Retirement Plan Gift
A gift made by naming Zion Baptist Church as remainder beneficiary after your death.
Is there a minimum contribution amount?
No minimum required.
What are tax benefits?
Avoids tax on “income in respect of a decedent” as well as estate tax on the plan.
What are other benefits to me (the donor)?
Preserves plan’s value and allows you to leave your heirs less costly bequests.
- Real Estate Gift
A donation of real estate to Zion Baptist Church either in full or with a retained life estate.
Is there a minimum contribution amount?
$10,000.00 minimum required. Restrictions may also apply.
What are tax benefits?
Immediate income tax deduction for the charitable value of the gift, plus no capital gains tax due.
What are other benefits to me (the donor)?
May allow you to live in your home and still receive charitable deduction.
- Charitable Remainder Annuity Trust
A trust that pays a set income to you or those you name before Zion Baptist Church receives remainder.
Is there a minimum contribution amount?
$100,000.00 minimum required.
What are tax benefits?
Income tax savings form deduction, no capital gains tax liability, and possible estate tax savings.
What are other benefits to me (the donor)?
Provides guaranteed annual income for you or other beneficiary.
- Charitable Remainder Unitrust
A Trust that pays variable income to you or those you name before Zion Baptist Church receives the remainder.
Is there a minimum contribution amount?
$100,000.00 minimum required.
What are tax benefits?
Income tax savings form deduction, no capital gains tax liability, and possible estate tax savings.
What are other benefits to me (the donor)?
Provides annual income that could increase if trust value increases.
- Charitable Gift Annuity
A contract in which Zion Baptist Church agrees to pay you back a percentage of your gift annually for your lifetime.
Is there a minimum contribution amount?
$100,000.00 minimum required.
What are tax benefits?
Immediate income tax deduction for part of gift’s value, capital gains spread out over life expectancy.
What are other benefits to me (the donor)?
Gives you and/or other beneficiary a set income for life.
- Charitable Lead Trust
A trust that pays Zion Baptist Church an income for a period of years before you or your heirs receives the trust remainder.
Is there a minimum contribution amount?
$100,000.00 minimum required.
What are tax benefits?
Gift or estate tax savings for value of payments made to church.
What are other benefits to me (the donor)?
Allows you to pass assets to heirs intact at reduced cost.
- Outright Gift to Endowment
A donation of cash, securities or personal property to Zion Baptist Church’s endowment fund.
Is there a minimum contribution amount?
$10,000.00 minimum required.
What are tax benefits?
Income tax deduction for the value of the gift, plus no capital gains tax due on appreciated property.
What are other benefits to me (the donor)?
Provides flexibility in allowing you to tailor your gifts to Zion Baptist Church’s immediate needs.