Guide To Giving
Our heart would be to include generosity in the same conversation with other areas of worship and obedience. We trust that you find the contents of this website consistent to Holy Scripture as well as reflective of the highest level of professional precision.
Outright gifts can be made in a number of ways:
- Real estate
- Real property
The most common way to make an immediate gift is by writing a check. This type of cash gift provides immediate liquidity for charity and generates a charitable income tax deduction for the donor in the year of the gift.
Giving stocks or bonds may provide greater tax benefits. If you have owned securities for more than one year and the fair market value has increased since you purchased them, you can avoid capital gains tax and receive a charitable income tax deduction equal to the fair market value.
A gift of real estate that has been held for more than a year also has the advantage of providing you with a charitable deduction based on the current fair market value, as well as bypassing capital gains tax on the appreciation.
Selected artwork, books and antiques are examples of gifts of personal property that can, in certain situations, be an appropriate gift. To ensure that any tangible personal property qualifies for a favorable charitable tax deduction, make a note of those things as they come to mind and make certain you discuss them with your estate planner.
Certain planned gift instruments can provide tremendous benefits during your lifetime.
There are two compelling motives to consider planned giving:
- Many believers who have tithed their entire lives don’t know they can tithe in their will – thereby supporting their church and other ministry causes they care about.
- Specific Planned Gifts can help you take advantage of United States tax code – directing funds in gifts and thereby potentially reducing significant estate taxes.
The term planned gifts refers to specific strategies that, in most cases, benefit charity at some point in the future while offering immediate benefits to the donor.
The gift of a paid-up life insurance policy is a good example. By designating a qualified charity as owner and beneficiary of such a policy, you will receive a charitable income tax deduction that, in most cases, is equal to your cost basis in the policy.
There are a variety of planned gift options that are written into tax code. In some cases, a planned gift can provide life-time income to you as a donor while providing a benefit to a ministry and/or your family.
Some plans are designed to allow you to plan when the gift is accessible to your family or the charity after your passing. This is particularly helpful if you want to make certain your heirs have reached an age when these gifts can be used effectively.
How do you explore this area of planned giving? We’re here to help.
First, we invite you to read through our site and resources to gain an understanding of the variety of possibilities.
Next, make a list of your assets–those things God has entrusted to you. Or use our “My Estate Planner” section for help.
Begin to pray about God’s purposes for your assets. In fact, we have provided a section on “Achieving God’s Purposes for your Life” which may be a useful guide.
The Southern Baptist Foundation offers a full range of estate planning services to assist Believers in providing for their families and making gifts to Christian organizations either during one’s lifetime or by will. Nothing gives us greater joy than helping individuals and families discern the purposes and goals God has laid on their hearts, than developing a plan to fulfill those goals. Contact the Southern Baptist Foundation today to find out how you can impact the Kingdom.