Planned gifts often include ways for you to receive tax benefits, tax deductions, or simply cash back from your gifts. Planned giving allows you to receive financial benefits while giving to the Lord’s work.
Provide a stream of steady income to yourself or your relatives: Learn about charitable gift annuities or trusts or life insurance policies. If you’re interested in learning more about gift planning, please contact us.
In 2 Corinthians 8, the Apostle Paul used the generous demonstration of giving by the Macedonian believers to encourage the Corinthian believers to follow through on a commitment for giving that they had made months earlier.
It was God who gave grace (enablement) to those poor believers to give beyond their ability. So Paul’s exhortation to the Corinthians was to “grow in this grace also.” They needed to experience the enablement of God as well. We all do. Giving is contrary to our selfish nature. That’s why we need the encouragement from time to time.
Maranatha has been the recipient of many gifts given by friends of the university that were matched by the employers of these friends. Many major corporations have “Matching Gift” programs for their employees. The gift is made and sent to the university along with a matching gift form from the employer. We fill out the form and submit it to the corporation.
Does your employer have this kind of program? The following is a list of companies who have matched gifts given by their employees to Maranatha:
- Abbott Laboratories, Inc.
- Agilent Technologies
- Johnson & Johnson
- Lucent Technologies Foundation
- Marathon Ashland Petroleum, LLC
- Materials Research Corporation
- Pioneer Hi-Bred International, Inc.
- Procter & Gamble
- Quaker Oats Company
- State Farm Insurance Company
- Teledyne Technologies
- Times Mirror Foundation
- UPS Foundation
Would you check with your employer to see whether they have a matching gift program? And then, would you pray about sending a gift to Maranatha?
Your generous giving will be a great encouragement to us as we train young people to serve in their local churches, fulfilling the Great Commission to take the Gospel of Jesus Christ to all the world.
Save on taxes – give stock!
There are many ways to give to Maranatha, but giving stocks can benefit both you and the college. Consider this example to help you understand the concept of giving stock:
Margie and Mindy both purchase $2,000 worth of stock in 1995. Over the course of the next 12 years, their stock appreciates and grows to $15,000. In 2008, both ladies are financially secure and each decide to give a large gift to Maranatha, but they do it in two different ways.
Margie tells her broker to sell the stock:
- The stock sells for $15,000 and is subject to the capital gains tax rate of 20% on the net profit of $13,000.
- She pays $2,600 to the IRS and donates the balance to the university. We are grateful for the $12,400 gift, and Mindy gets to deduct $12,400 from her taxes for the year. Her income level as a retiree puts her in the 15% tax bracket, so the gift reduces her yearly taxes by $1,860.
- In the end Margie gave a gift of $12,400 to Maranatha and $740 ($2,600 capital gains minus the $1,860 deduction) to Uncle Sam.
Mindy took a simpler route:
- She simply donated all of her stock to the university and received a tax deduction for the full amount.
- Since Mindy paid no capital gains tax, the entire $15,000 went to the university and reduced Mindy’s taxes by $1,950.
Mindy was able to give a larger gift to her chosen non-profit organization, and she received a greater tax deduction ($1,210 more!) simply by donating the stock instead of making a cash gift.
A few points to remember: The stock you donate must have grown in value, and you must have held it for more than a year for this donation to be beneficial for you. The final outcome is dependent on your tax bracket.
Do you have stocks or bonds or any other securities that you don’t need and could be put to work in the service of the King?
If you are interested in learning more, don’t hesitate to contact our office and we can talk about whether a gift of stock is right for you!
Does Your Will Work?
Some wills won’t.
A will that is out-of-step with your other estate planning documents may not work. Let’s say your will dictates that your entire estate is to pass to your spouse—yet your life insurance policy indicates a different beneficiary. Will your will supercede your policy and redirect the insurance proceeds to your spouse? Probably not.
An out-of-date will that fails to take full advantage of current estate tax laws may not work either. It could cost thousands in added taxes. Nor can you feel confident in a will that has not been updated to reflect major changes in your family life or financial affairs.
Does your will accomplish everything you want? Is it up-to-date? Do you even have a will?
We at Maranatha want you to have the peace of mind that comes from knowing you have a valid estate plan. We want you to have a will that works for you, and frankly, one that works for us.
When you name Maranatha in your will (or living trust) to receive a specific amount or a percentage of your estate, you make one final crowning gift to an institution you have supported during your life.
If you want to talk about your will and other plans for how Maranatha can be part of your financial future please contact us.