What is the First Presbyterian Church
Foundation Fund?
On December 27, 1979, Session established The Foundation Fund and its governing committee. The purpose of The Foundation Fund, also known as The Fund for First Presbyterian Church, Sun City, is to maintain and expand the mission of the church.
The Fund committee, comprised of two (2) members of Session and three (3) members at large, promotes this important objective by providing opportunities to make gifts and bequests to The Fund.
What legacy will you leave when you enter the Church Triumphant? Estate Planning gives you an opportunity to make an enduring statement of faith. You may be surprised that even small assets can be turned into a gift.--Presbyterian Foundation
All Fund gifts are gratefully received and the generosity of their givers acknowledged.
This post covers just a few of the choices for you to consider. Your legal and financial advisors should be instrumental in helping you finalize your plans.
What is Planned Giving?
Planned Giving includes current and future gifts, made in addition to annual pledges. Your Planned Gifts help assure mission outreach and the future ministry of First Presbyterian Church.
Current Gifts
Writing a Check: This is the easiest way to support the ministry of First Presbyterian Church and qualify for a charitable tax deduction.
Securities: Giving appreciated stocks and/or bonds may provide two-fold tax savings – no capital gains tax on the increased value plus a tax deduction equal to the fair market value of the security on the date of receipt.
Real Estate: Donating vacation home, acreage, investment property, or a farm owned for many years may be especially tax-advantageous.
An outright gift may avoid a sizable capital gains tax and realize a charitable deduction for the full fair market value of the property.
Life Insurance: By simply naming First Presbyterian Church the owner or beneficiary you may be able to take a charitable deduction equal to the policy’s cash surrender value at the time of the gift.
Life insurance policies can be used in a number of ways to assure the future of the church’s ministry. If an existing or new policy is contributed with premiums due, the premiums paid each year by the donor may be deductible as charitable gifts.
Deferred Gifts
Wills and Bequests: Your will and other estate planning provides the opportunity for you to proclaim your Christian faith and the importance of stewardship.
A Charitable Bequest, when included in your Will, can be designated as a stated amount, a percentage of your estate, or an amount after expenses.
Specific bequests are most common Planned Gifts. You leave a specific amount, such as:
“I bequeath to First Presbyterian Church, Sun City the amount of $15,000…” or a specific asset, or perhaps a specific percentage of your estate, such as, “I/We bequeath 10% to First Presbyterian Church, Sun City.”
Charitable Trust
You may also want to establish a Charitable Remainder Trust or Charitable Gift Annuity during your lifetime or in your will. Both of these gift plans will pay you, or a designated beneficiary, a lifetime income. These options may be appealing if you want the income now and would benefit from a tax deduction.
Charitable Gift Annuities offer many benefits, including the personal satisfaction of good stewardship.
- The annuity income will be paid for your lifetime and never decrease.
- In most cases, part of each annuity payment is income tax-free.
- You may qualify for a federal income tax charitable contribution deduction, further reducing your income tax liability and the cost of your gift.
Example of a Gift Annuity
As a donor, age 80, you give $10,000 for a charitable gift annuity. The annuity rate based on your age is 6.8%. You will receive $680 annually, $573 of which will be tax-free for 9.4 years. In addition, you potentially can claim a charitable deduction of $4,606 for your gift.Here’s what one couple in our church had to say about their gift to the Foundation Fund:
First Presbyterian Church of Sun City is our church family. We believe in its ministry and mission.To find out more about Planned Giving or other gift opportunities, contact the church office at (623)974-3605.
In response to God’s grace and abundance, we have made a legacy gift to the First Presbyterian Church of Sun City Foundation Fund.
We invite you join us.
Our directive divides the proceeds equally among our children and our church family.
This post gives you ideas and information about the many opportunities for making a Legacy Gift.
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