Partners for Preservation
Numerous Tax Incentives are possible with a Partners for Preservation Gift
The mission of Partnership For Preservation, is to develop a fund dedicated
to maintaining and preserving the structural integrity of Central United
Methodist Church and Temple House for the purpose of providing a location
for religious, cultural, recreational and community service to the City of
Lansing. The bottom line of this campaign is financing the day to day structure
and infrastructure needs of the facility for the future. Naming the Church
as a beneficiary in your estate plan or the making of an endowment gift can
assure the preservation of our historic church facility.
There are a number of tax incentives available to those who wish to make
charitable gifts to Central United Methodist Church. The tax benefits depend
on the kind of property and the form of the gift. The unrealized growth of
property held for a long period of time can be gifted to CUMC. For example:
a investment purchased for $10,000 may have grown to $30,000 over the years.
Making a gift of the investment to CUMC would entitle the giver to a charitable
deduction for the full market value of the investment as well as not having
to pay capital gains tax. A charitable gift of this nature would translate
into considerable tax savings to the contributor in excess of $10,000. The
amount would be dependent upon tax bracket as well as capital gains
calculation.
A gift of real estate held for the long term may offer the giver several
advantages. The giver can escape capital-gain tax on the appreciated value.
If made through a will a charitable deduction will be allowed the giver's
estate and there will be no capital-gain tax on the appreciated value. You
may even desire to gift your personal residence to CUMC. While you continue
to live in and possess your home as long as you live, you may want to consider
a gift of the remainder interest in your property and you will receive a
current income-tax deduction for present value of the remainder interest.
A life insurance policy is an excellent charitable donation. Depending on
the arrangement of your gift through life insurance you can create a number
of tax benefits to your estate. The proceeds of life insurance are paid promptly
without probate and it can be a substantial gift at low cost paid throughout
the life time of the donor.
Tangible personal property , bequest and charitable remainder trust are also
ways to accomplish the goal of leaving a last legacy to CUMC. Check with
your financial advisor regarding the ways you can apply some of these and
other methods to assure that your assets benefit you, your family and your
church.
Review your options with your financial counselor. Dr. Wayne Barrett of the
West Michigan Conference is available to meet with you and your insurance
counselor regarding this or other financial instruments available to assist
you in pledging assets for preservation of Central United Methodist Church.
Call the church or visit our web site to learn more.
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