Ways to Give That Continue to Give
There are many ways to make a gift to Zephyr Point Presbyterian Conference Center that can have significant tax advantages.
To support Zephyr’s current program with a gift, you may consider a permanent endowment fund, a donor-advised fund or a charitable lead trust.
A gift that will benefit Zephyr in the future can be made through a charitable gift annuity, a charitable remainder trust, by a bequest in your will or trust, or by naming Zephyr as the beneficiary of a retirement account, insurance policy or other type of assets.
You may make a gift using assets such as cash, securities, or property. The Presbyterian Foundation can assist you and your financial advisor in selecting a type of gift that works best for you. The Foundation’s goal is to bring people and mission together to further the mission of the Presbyterian Church on a local, national and global basis.
Remember a Gift from your IRA or ROTH-IRA defers taxes
Through 2008, at age 70 1/2 you can donate, tax free, up to $100,000 to a qualifying charity in other words, you can ask your IRA or ROTH-IRA trustee to give to Zephyr Point a distribution and not pay the taxes!
Permanent Endowment Fund
What is a permanent endowment fund?
A permanent endowment fund is created through an irrevocable gift to the Presbyterian Foundation. The Foundation will professionally hold and manage the fund and pay income from the fund to the Zephyr Point Presbyterian Conference Center in perpetuity. A permanent endowment fund creates a lasting legacy of faith and generosity.
What does it take to establish a fund?
A permanent endowment fund can be established with a gift to the Foundation of $5,000 or more by an individual or an organization. A fund is often established to celebrate an event, such as a birthday or anniversary, to honor a loved one, or to create a lasting legacy.
Can I make additional gifts to a fund?
Additions to the fund are accepted from you or anyone wishing to contribute to the growth of the fund. Simply complete the additional gift form and submit it with your gift to the Presbyterian Foundation.
Charitable Lead Trust
A charitable lead trust (CLT) exists for a term of years or a lifetime, during which time the trust makes payments to Zephyr. When the charitable term ends, trust assets are either returned to you (a grantor trust) or released to other persons you name (a non-grantor trust). Transferring assets to a CLT can remove them from your estate and pass them to heirs with little or no tax liability. A gift tax discount arises because of the charitable interest preceding your heir’s interest.
Example: You make a $500,000 gift to a twenty-five year CLT paying $30,000 per year to charity before passing to your children. The gift to your children is valued at only a fraction of $500,000.
A CLT pays either a fixed amount to charity, or a a fixed percentage of the trust’s value determined annually.
By structuring a CLT to return assets to you, you may obtain an income tax deduction for the charitable interest. In the example above, if the assets revert to you after twenty-five years, the charitable interest is a large portion of the $500,000.
For instructions on how to transfer securities to establish a Charitable Lead Trust, visit the Presbyterian Foundation’s web site.
Gift Annuities
A charitable gift annuity allows you to make a gift to support Zephyr and its mission in the future, while you receive a payment for life.
What is a Charitable Gift Annuity?
A charitable gift annuity is a contract between you and the Presbyterian Foundation. In exchange for your gift the Foundation agrees to pay you a fixed payment for life. After your lifetime the gift, less the payment you received, will be used for Zephyr.
How is the Annuity Payment Determined?
The annuity payment is based on the annuitant’s age the day the gift is made and the amount of your gift. The annuity is paid annually, semi-annually, quarterly, or monthly.
Charitable Remainder Trust
A charitable remainder trust is an irrevocable trust that provides payments for a single lifetime, multiple lifetimes, or a set term of years. These payments can be made to you or other income recipients. New Covenant Trust Company manages the trust assets and makes the payments. After the lifetime of the payment recipient(s) or the expiration of the term of years, the remaining trust assets become available for the work of the Zephyr Point Presbyterian Conference Center.
Reasons You May Want to Consider a Charitable Remainder Trust:
- Desire to support the work of Zephyr
- Increase income for yourself or others
- Create charitable contribution deduction
- Capture long-term capital gain without immediate taxation
- Diversify portfolio assets
- Reduce estate size and potential tax
Charitable Bequest
Making a charitable gift to Zephyr is a beautiful way of expressing Christian stewardship. A will can be written to accomplish a variety of needs, such as benefiting family and friends. It can also fulfill your desires to support a particular mission or program through a charitable bequest. Receiving a bequest is a blessing beyond measure and one which can grow over time. Request a copy of Your Guide to A Christian Will through the Presbyterian Foundation.
