Whether you choose to make an outright gift or a planned gift, each method of giving has particular advantages.
Some types of gifts will give you an immediate tax benefit while others may help you reduce your taxable estate or provide an annual income for life.
We talk at length about taxes and tax savings, and they are important considerations when making a charitable gift, but the greatest advantage of your gift is the joy and satisfaction you will experience in knowing that your generosity will impact the lives of future generations. You will also know the benefit brought to the Body of Christ by investing in the future of God’s Ministry through CBMC International.
Ways you can give
Gifts of Assets
The simplest way to support CBMC International is through an outright or cash gift. But creative gifts of assets may include such assets as stocks, bonds, real estate and personal property. These gifts can provide you with charitable deductions and in many cases offer additional tax savings. Gifts that may be given not only include cash, but also long-term appreciated stock, mutual fund shares, and most types of real estate. Both cash and non-cash gifts offer certain tax advantages while allowing CBMC International to use the gift immediately. When real estate is given, you may retain a “life estate” and live on the property for the reminder of your lifetime.
Cash is the easiest of all assets to transfer in order to fund an outright or life income gift to CBMC International. Ordinarily, the receipt of your check by CBMC International completes the transaction. Cash may also be used to fund a life-income gift, such as a charitable gift annuity. A charitable gift annuity is likely to provide higher income than either a certificate of deposit or a savings account.
Outright Gifts of Other Assets
You may discover giving appreciated assets to be a particularly attractive way to make a gift because you are supporting CBMC International with a greater gift and at a lower cost than when making a cash gift.
Stock or Mutual Fund Shares
By giving securities that you have owned longer than one year, you will receive an income tax deduction for the full fair-market value and you avoid capital gains tax.
CBMC International accepts gifts of approved residential and commercial properties. Gifted properties are sold and the proceeds are used to support our mission. If you have owned the property for more than one year, you will receive an income tax deduction for the full fair-market value of a property and completely avoid capital gain tax.
Retained Life Estates
You can donate your residence, vacation home, or farm to CBMC International, while reserving the right to continue living in or using the property after making the gift. You will receive an immediate income tax deduction for a portion of the fair-market value of your property. For more on Retained Life Estates please contact our development office for information.
Gifts by Will
Donations made through a will or a revocable trust, bequests to CBMC International offer you a charitable tax deduction for the value of the gift. Best of all, it is the gift of knowing that your generosity will support the Marketplace Ministry of CBMC International for years to come.
Learn More about Wills and Revocable Trusts | Contact Us
Perhaps you desire to support CBMC International, but worry about having enough income for yourself and your family. Life-income gifts, such as gift annuities, charitable remainder trusts, and other estate planning tools can provide a lifetime income stream, significant tax savings, and the satisfaction of giving CBMC International necessary long-term resources. Life Income gifts enable you, your beneficiary, or both, to receive a guaranteed income for life and make a lasting gift to CBMC International.
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Gifts of Life Insurance
You may choose to support CBMC International by naming them as a beneficiary to a life insurance policy. Life Insurance can be a very flexible tool in estate-based philanthropy. As with other giving vehicles, you can help CBMC International while also receiving tax benefits for you and your heirs. Customarily, you name your spouse, children, parents, relatives, or friends as beneficiaries of life insurance. However, it is also possible to name one or more nonprofit institutions. This provides you with an opportunity to make a significant gift with little expenditure.
Learn More about Life Insurance Gifts | Contact Us