 |
70 Queendale Center |
Living Memorials, Cash, Life Insurance, Real Estate, Securities
Living Memorials
Throughout your life you meet special persons whom
you admire, respect and love. Your relationship with such a person is
invaluable, and making a charitable gift in the name of the person is
a special way to celebrate his or her life. By giving in memory of others,
you further the mission and ministry of Jesus Christ.
Gifts can be for the general operation of Red Bird
Mission or for a specific ministry area. Your imagination is the only
limit to the ways in which you can honor a special person.
Cash
You can make a gift of cash or of a cash equivalent, such as a certificate of deposit. A bequest of cash may be included in your will.
Life Insurance
The need for life insurance may decrease as your
financial goals are accomplished. Children become self-sufficient and
investments may provide income and security.
To share the benefits of your stewardship, you can
name a charitable beneficiary such as Red Bird Mission to receive all
or a portion of the proceeds of an insurance policy.
Another method of making a charitable gift of insurance
is to take out a new policy with ownership and beneficiary rights assigned
to Red Bird mission. Many donors find this a convenient way to make
a special gift on the installment plan. Life insurance is an excellent
way to make a large gift at a low cost and may allow you a tax advantage.
Securities
Making the gift of securities that have increased
in value and have been held more than a year entitles you to a federal
income tax deduction based on the full fair market value of the security.
Since this is a gift, and not a sale, you do not have to pay capital
gains tax on any increase in the value of the stock.
Securities may be given outright to Red Bird Mission
or sold to the charity as a bargain sale for less than their face value.
The difference between the value of the security and what you receive
for it is then deductible as a charitable gift.
Real Estate
For many people, a significant portion of their net
worth is invested in real property. You can make a gift of your home
today, but enjoy the security of knowing you may live there for life.
You maintain the property, pay the taxes and receive a charitable tax
deduction based on a percentage of its value. Because you have made
a gift of the property by deed, it is not included in your probate estate,
possibly saving unnecessary expenses and taxes. When giving real estate,
it is necessary to obtain an appraisal acceptable to the government
for tax purposes. The three ways you can give real estate as a charitable
gift are as follows:
• Give the property today, outright. (Property
can be a home, farm investments, etc.)
• Deed the property over to the charitable organization,
but keep full use of it for as long as you live.
• Give all, or a percentage, of the property
in exchange for a life income.
There is more than one way to give to the mission and ministry of Jesus Christ. All gifts should be carefully analyzed and discussed with competent financial advisors. No gift is too small. Consider Red Bird Mission as a part of your long-range financial and charitable giving plan.
Please contact your legal or financial advisor before
making a decision about any planned gift. The information here is only
intended as an educational tool.
Mission Advancement Email
P (606) 598.3155
