Cash gifts are commonly
seen as the only way to financially assist your favorite
ministry. During a period when many stocks are experiencing
high returns, stock giving may be an effective addition
or alternative to cash giving. If you own any appreciated
property, like stocks, mutual funds, bonds, or real estate,
there are three major advantages to giving the asset versus
giving cash:
- Ability to make a potentially larger gift.
For many of us, the desire to give exceeds the amount
of cash we have available to give. If you have access
to investments that can be transferred to fund a gift,
without taking from cash flow used to meet your budgetary
needs, your giving is not limited to cash available.
- Increase in cash flow. Cash flow often presents
a challenge for many individuals. Even an individual
with substantial net worth may have difficulty meeting
current financial obligations. Highly appreciated property
may not produce substantial cash flow. Many times, stocks
and bonds produce cash flow, in the form of dividends,
of only one to two percent of their net worth. A gift
of these types of properties may result in an immediate
tax deduction, which increases cash flow. A tax deduction
can offset long-term cash flow loss for a number of
years.
- Avoidance of capital gains tax. If you sell
appreciated property and make a gift of the proceeds,
you will be taxed on the appreciation. This is called
a capital gains tax. But that tax is avoided when you
give appreciated property directly to Growthtrac or
to the 501(c)(3) charity of your choice. And your charitable
deduction will be for the full fair market value of
the property at the time of the transfer. For more information
about non-cash giving, contact (email) If you would
like to discuss your gift or need more information contact
Estate Planing and longer term options for donating
to the Ministry For appreciated assets giving, estate
planing, and other longer term donation options.
Appreciated Assets Would you like to support
the ministry of Growthtrac but thought it could only be
done with cash? You can give almost any kind of non-cash
personal property and do it in a number of ways. Tax benefits
are greatest if the asset you give is worth more than you
paid for it.
Read Estate Another way to give to our ministry
without giving cash is by donating real estate. This is
a tremendous way to avoid paying any tax on the increase
in the value of the property.
Life Insurance Do you have a policy that is
no longer needed for its original purpose? This may be an
ideal asset to transfer to Growthtrac. Your wishes will
be carried out promptly, and your gift will not be delayed
by settlement of your estate nor diminished by probate costs.
In addition, you may receive valuable benefits in the form
of income tax deductions.
Memorial Gifts A memorial gift is a meaningful
way to express honor and tribute to a loved one by giving
a gift of lasting worth. You may give any type of gift in
memory of another person. Trusts, Wills, Annuities, and
other charitable giving plans can also be used to further
your gift.
Deferred Gifts
Deferred gifts are gifts that you establish now for a future
date. The actual gift may be made after your lifetime or
in a term of years. In some cases, you can receive income
and tax benefits during your life. For more information
about the most common types of deferred gifts, select from
the choices below:
Retirement Assets Perhaps you
have found that after setting aside assets for when your
income declines at retirement, God has blessed you with
more funds than you will use (reduced expenses? greater
income than anticipated?) The result is an excess of assets
that are available for distribution at death. Even at
death, however, these assets are subject to income tax
unless they are distributed to charity.
In cases of larger estates (subject to estate tax), the
combined income and estate tax may exceed 75%. Some may
find that rather than losing the benefits of the majority
of their retirement assets, these make an ideal gift to
support Growthtrac’s 501(c)(3) non-profit ministry. By
making Growthtrac the beneficiary of all or a portion
of your retirement assets, you can be assured that there
will be ZERO taxes paid on these assets.
Wills Only about 4 out of 10 Americans have
planned for their family and heirs by executing a will.
A will directs how a person wants his or her property
distributed at death. It is also used for other purposes,
such as naming a guardian for minor children, tax and
estate planning, and providing for charitable causes.
When a person dies, the will is filed with the court to
be probated. Probate is simply the procedure for passing
property to the rightful heirs, under court supervision.
The probate court relies on a person's will to determine
who are the rightful heirs.
If someone dies without a will, the court does not have
guidelines to determine the rightful heirs. So your state,
in effect, "creates" a will for those who do not do their
own planning.
A will ensures that what you desire to give to your loved
ones and to Christian causes will be given. We would hope
that you would consider Growthtrac as a ministry that
you would like to support from your estate.
You can name the Growthtrac as a beneficiary, giving you
many choices:
 |
Give
us a bequest of a fixed dollar amount. o Give us
a percentage of the estate. This allows you to keep
the division of the estate residue in desired proportions,
regardless of its size |
 |
Make
us a contingent gift. That is, the funds would go
to a certain individual if that person survives
you. If not, they would be paid to us. o Create
a trust to pay you an income for life, with the
remaining principal to be given to us thereafter. |
 |
Give
us a gift without restrictions. This allows us to
apply the funds to our most pressing needs and is
the best way to give to us to help us achieve our
mission. |
Your attorney should, of course, be involved in planning
your will. If your plans include a deferred gift or bequest
to us, we would also like to be included in the discussion
and recognize your generous commitment during your lifetime.
Revocable Living Trusts A Revocable Living
Trust does the work of a will and more. It not only provides
for the distribution of your resources at the time of
death, but allows you to prepare for your living needs
(e.g., you become incapacitated and unable to manage them,
or you prefer not to). Assets in a Revocable Living through
probate, saving both time and money.
Charitable Remainder Trusts The Charitable
Remainder Trust is a way for you to receive a lifetime
income from assets that you ultimately want to go to the
Lord’s work. It is an excellent way to convert appreciated
assets and receive income without capital gains tax, all
the while ultimately supporting Growthtrac and receiving
a current tax deduction.
Deferred Giving
Deferred gifts are gifts that you establish now for a future date. The actual
gift may be made after your lifetime or in a term of years. In some cases, you
can receive income and tax benefits during your life. For more information about
the most common types of deferred gifts, select from the choices below:
Retirement Assets Perhaps you have found that after setting
aside assets for when your income declines at retirement, God has blessed you
with more funds than you will use (reduced expenses? greater income than anticipated?).
The result is an excess of assets that are available for distribution at death.
Even at death, however, these assets are subject to income tax unless they are
distributed to charity.
In cases of larger estates (subject to estate tax), the combined income and
estate tax may exceed 75%. Some may find that rather than losing the benefits
of the majority of their retirement assets, these make an ideal gift to support
Growthtrac Ministries 501(c)(3) non-profit ministry. By making Growthtrac Ministries
the beneficiary of all or a portion of your retirement assets, you can be assured
that there will be ZERO taxes paid on these assets that are given to the Lords
work.
Wills Only about 4 out of 10 Americans have planned for their
family and heirs by executing a will. A will directs how a person wants his
or her property distributed at death. It is also used for other purposes, such
as naming a guardian for minor children, tax and estate planning, and providing
for charitable causes. When a person dies, the will is filed with the court
to be probated.
Probate is simply the procedure for passing property to the rightful heirs,
under court supervision. The probate court relies on a person's will to determine
who are the rightful heirs.
You Have Numerous Options: The Choice Is Yours.
You can name Growthtrac Ministries as a beneficiary, giving you many choices:
- Give us a bequest of a fixed dollar amount.
- Give us a percentage of the estate. This allows you to keep the division
of the estate residue in desired proportions, regardless of its size.
- Make us a contingent gift. That is, the funds would go to a certain individual
if that person survives you. If not, they would be paid to us.
- Create a trust to pay you an income for life, with the remaining principal
to be given to us thereafter.
- Give us a gift without restrictions. This allows us to apply the funds to
our most pressing needs and is the best way to give to us to help us achieve
our mission
Your attorney should, of course, be involved in planning
your will. If your plans include a deferred gift or bequest
to us, we would also like to be included in the discussion
and recognize your generous commitment during your lifetime.
Please contact us.
.
How To Leave A Lasting Legacy
In a Will The following is the correct language to use if it
is your intent that your bequest benefit Growthtrac Ministries in your will.
"I give, devise, and bequeath to Growthtrac Ministries with its web
site at growthtrac.com the sum of __________ dollars." (Or designate the
percentage of the estate or otherwise describe the gift.)
If you include us in your will please send us a copy of it or the portion
which mentions us.
Revocable Trusts A Revocable Living Trust does the work of a will
and more. It not only provides for the distribution of your resources at the
time of death, but allows you to prepare for your living needs (e.g., you become
incapacitated and unable to manage them, or you prefer not to). Assets in a
Revocable Living through probate, saving both time and money.
Charitable Remander Trusts The Charitable Remainder Trust is a
way for you to receive a lifetime income from assets that you ultimately want
to go to the Lords work. It is an excellent way to convert appreciated
assets and receive income without capital gains tax, all the while ultimately
supporting Growthtrac Ministries and receiving a current tax deduction.
Today it is not uncommon
for people to have more than one life insurance policy.
Multiple policies are purchased for a number of reasons,
such as to provide financial security for family members,
to pay for estate taxes and other expenses associated with
the settlement of an estate, or as a savings plan.
Life insurance is a versatile financial planning tool;
it can also be a convenient way to give to your favorite
charities.
Benefits of gifting life insurance to charity
- A gift of life insurance is economical and tax deductible in most cases.
- A gift of life insurance is usually easy to make.
- A gift of life insurance is flexible, thus it can meet a variety of charitable
giving goals.
- A gift of life insurance is confidential; life insurance is not a matter
of public record.
- A gift of life insurance is immediate. Proceeds are paid to the beneficiary
in cash quickly after death and are usually not touched by the probate process.
Gifts of Existing Life Insurance Policies
Perhaps you are interested in gifting life insurance to charity. You may first
wish to review the policies you own and ask yourself these questions:
- Do you have a policy on a child who has now achieved financial independence?
- Have you paid off your home's mortgage and no longer need to maintain a
mortgage life insurance policy?
- Do you hold a policy on a business that no longer exists?
- Did you purchase a policy with a beneficiary family member who has predeceased
you?
- Do you own a policy that your parents bought for you as a child?
- Do you have a policy to provide you with retirement income that is no longer
needed?
If you have excess life insurance, you may consider including it in your charitable
giving plans.
Ways to Support Growthtrac Ministries through Life Insurance
- Simply name Growthtrac Ministries as beneficiary (primary, secondary, or
final) of your existing policy.
- Purchase a new policy naming Growthtrac Ministries as owner.
- Donate a paid-up policy by changing the owner to Growthtrac Ministries.
- Give a policy on which you are continuing to pay premiums by naming Growthtrac
Ministries as owner or irrevocable beneficiary.
- If you are uninsurable, it is possible in some cases to purchase a policy
on the life of another person and name Growthtrac Ministries as owner or irrevocable
beneficiary.
- Assign life insurance policy dividends to Growthtrac Ministries to make
a convenient tax deductible gift.
If you own property
and wish to make a charitable gift to ministry, you may
find giving real estate to be a wise way to accomplish your
goal.
Someone who donates real estate that has been held for more
than one year is generally entitled to an income tax deduction
equal to the full fair market value of the contributed property.
Also, the donor can avoid the capital gains tax on the appreciated
portion of the property that would have been taxable if
the property were sold. Saving future potential estate taxes
and probate costs associated with the property are other
possible benefits. Not to mention, giving real estate is
often an effective way to make a substantial gift to the
Kingdom without dramatically impacting your current cash
flow! Whether you are thinking about making a gift of real
estate as part of your estate plan or during your lifetime,
we welcome the opportunity to talk with you about ways to
structure the gift that will enable you to faithfully steward
this important and valuable resource entrusted to you by
God.
Did you know your employer may actually match the dollars you give to Growthtrac
Ministries dollar per dollar? Many businesses from corporate America to
regional upstarts have matching gift programs to encourage employees to
donate money to charities.
Is yours one of them?
As a 501(c)(3) organization, Growthtrac Ministries is eligible for many matching
gift programs. Follow these simple steps to participate:
- Check with your Human Resources department to see if your company has a
matching gift program.
- Click here to provide your company
with a copy of our tax id number and IRS determination
letter.
Fill out an application and send it with your donation to:
Growthtrac Ministries
2413 W. Algonquin Road #213
Algonquin, Illinois 60102-9402