One Time Gift
Gifts of Cash
A gift of cash is always welcomed. Cash is simple and will allow you to take a charitable tax deduction for the contribution up to 60% of your Adjusted Gross Income.
Choose a Specific Cause
You can choose to designate your gift to a specific cause or fund. Such as: maintaining the fine arts, acquiring excellent curriculum, upgrading our facilities, athletics, the library, or anything you desire.
Undesignated gifts are used for the unexpected. The finance committee uses these funds to cover expenses that run over budget, repairs, replacements, or perhaps, help a family with tuition in an individual time of need.
If you desire to benefit your church or charities close to your heart, like EPCS, there are many creative and strategic ways to give. EPCS has partnered with Ambassador Advisors, a trusted financial and legacy planning firm. Ambassador can help you and your family dream more, plan more and do more with the assets God has provided for you.
Their guidance may help you reduce or eliminate taxes, may help you to choose the right asset to pass on to your children, and bless others and your church. The team of professionals at Ambassador Advisors will help you review and evaluate your giving, help you fully understand the opportunities and threats that exist, provide a thorough analysis, and help you create strategies to most effectively maximize your investments, manage risk, and execute giving tactics.
With a monthly donation, you are able to give a smaller amount over a period of time, which adds up quickly!
Gifts of Appreciated Assets
Donating apprecitated property may give you and the nonprofit the biggest advantage. You eliminate tax on gains and still receive full value for the contribution. EPCS can benefit from larger sums than you may have available in cash to give. Such a gift could include stock, mutual fund shares and real estate. This type of gift allows a tax deduction up to 30% AGI, which carries forward for five additional years.
A benefit of giving a donation via check is that 100% of your donation will go directly to the cause of Christian Education.
A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your IRA custodian, payable to a qualified charity. You can take advantage of a provision in the tax code and redirect your required minimum distributions to EPCS directly, skipping the taxes, and helping protect your Social Security benefits.
For your convenience, we offer the ability to give online.
Gift of Life Insurance Policy
Assigning a current policy on your life to charity creates a tax deduction on the lesser of policy cash value or tax basis. The charity takes control of policy, and any additional premiums are deductible as well.
Common Types of Planned Gifts
Planned giving integrates your personal planning goals with your charitable giving goals. In so doing, you create opportunities for charitable giving in circumstances that may not otherwise enable you to make an impact. Planned giving provides “something for everyone” by offering great flexibility through the many giving options available!
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Many people desire to benefit a charity, but cannot donate property to the charity while still alive. For example, an individual may need certain property to cover their living expenses or rising health care costs. A bequest is a gift to a charity at the time of one’s death. It is the simplest type of planned gift and one of the easiest to implement. Donors can leave property to a charity by including a bequest in their will or trust, or, in the case of property that passes by beneficiary designation, a gift can be made by designating specific charities as beneficiaries.
With a bequest, donors can retain ownership and use of the property during their lifetime and still benefit the charity by leaving the property to them upon their death. The charities benefit by receiving cash or property, the donors’ heirs benefit, because the amount given to charity is not subject to federal estate tax, and the donors benefit through the flexibility of being able to use and control the property while alive.
Gifts of Life Insurance
Life insurance is a common choice of planned gifts. Making a gift of a life insurance policy to one’s favorite charity appeals to a variety of donors, because it is a flexible, cost-effective and, in many cases, tax-advantaged way to make a major gift that will benefit EPCS after the donor dies. Life insurance can also be used as an asset-replacement strategy. Under this strategy, a donor makes a gift of an asset (such as real estate or appreciated securities) to the nonprofit and replaces the value of that asset to benefit his/her heirs with a life insurance policy owned in a way that eliminates estate taxes on the benefit that is paid to the donor’s heirs.
The use of life insurance as a charitable gift doesn’t have to be a boring choice, however. There are many ways to “change it up” to suit the needs of the nonprofit organization and a donor’s planning goals. Most donors and nonprofit organizations think of life insurance only as an asset that produces a future benefit for the nonprofit organization. However, by using the wealth-replacement strategy and/or the life settlement solution the needs of the donor’s family and the nonprofit can be met.
Charitable Remainder Trust (CRT)
A CRT receives cash or property from a donor, makes payments for a lifetime or term of years, and then distributes the rest to charity. This benefits donors who want to turn appreciated property that produces little or no income into a productive asset without paying capital gains tax at the sale of the property. EPCS benefits through the receipt of the cash or property upon the end of the term or the donor’s death.
In a CRT, the appreciated property is sold tax free, with donors receiving payments for life or for a term of years. Not only do they receive a percentage of the CRT’s value, but they also receive a current federal income tax deduction. A CRT especially benefits those with cash or appreciated property with a value of at least $100,000 and who want increased income.
An attorney drafts a CRT, after which the donor transfers cash or appreciated property to it. The CRT is a tax-exempt trust that can sell the appreciated property without paying capital gains tax. It can last for the lifetimes of one or more beneficiaries or for a specific term of years.
Each year, a CRT pays either an annuity amount or unitrust amount to its beneficiaries. A charitable remainder annuity trust (CRAT) pays a fixed dollar amount each year. By contrast, a charitable remainder unitrust (CRUT) pays a percentage of the account value each year.
In a bargain sale, a charity benefits through the purchase of property for less than fair market value or accepts a gift of mortgaged property. This helps those who desire to benefit EPCS, but cannot afford to give an entire property to EPCS, or who may have mortgaged property they are willing to give to EPCS.
When executing a bargain sale, donors receive a cash payment or debt relief, avoid gain on the part of the property that is a gift, and receive a current federal income tax deduction for a part of the property given to charity. Bargain sales especially benefit those who own appreciated property and want to give to a charity, but who need a benefit in return (either cash or debt relief).
A bargain sale works just like any other sale except that the sale price is a bargain (less than the property is worth). The donor gets the cash or debt relief he needs, and the charity gets a valuable property for less than full price. (The difference between the sale price and the appraised value of the property is a gift to the charity.)
Retained Life Estate
Through retained life estate, you transfer ownership of your home to a charity, while retaining the right to live in the property. A partial tax deduction is taken on the fair market value of your gift.
The information presented is provided for informational purposes only. Investors must make their own determination as to the appropriateness of an investment or strategy based on their specific investment objectives, financial status, and risk tolerance. Past performance is not an indication of future results. Investments involve risk and the possible loss of principal.
Ambassador Advisors is a Registered Investment Advisor. Securities offered through American Portfolios Financial Services, Inc. of Holbrook, NY, 631.439.4600 (APFS), member FINRA, SIPC. Investment Advisory Services offered through Ambassador Advisors, LLC. Ambassador Advisors is not owned or operated by APFS.