Gift Options:
Cash:
A gift of cash is one way to realize your charitable objectives. Cash gifts qualify as a charitable deduction for federal income tax purposes and are fully deductible up to 50% of your adjusted gross income in the year that the gift is made. Deduction amounts exceeding this limit may be carried forward up to five additional years.
Securities:
Gifts of appreciated securities (stocks, bonds and stock in closely-held companies) can also be given to the Ascension Lutheran Church Endowment Fund. You can completely bypass capital gains tax and deduct the full current fair market value of the gift of securities, equaling up to 30% of your adjusted gross income in the year of the gift. Excess can be carried up to five additional years.
Bequests:
Through your will, you can perpetuate your legacy with a living memorial. The Ascension Lutheran Church Endowment Fund can be beneficiary of all or a portion of your estate, the recipient of a specified gift or contingent bequest, or the ultimate beneficiary of a charitable remainder trust. Bequests are deductible for federal estate tax purposes.
Life Insurance:
There are several ways to give life insurance. You can give a life insurance policy that you already own, give a new contract, or name the Ascension Lutheran Church Endowment Fund as a beneficiary. In addition to estate tax benefits, the donor may also gain an income tax deduction.
Real Estate:
A gift of property held for more than one year can provide the same federal tax advantages as a gift of securities. You can also choose to retain the right to live in a donated residence after your gift has been made.
Gifts Providing a Stream of Income:
A number of plans allow you to make a gift to the Ascension Lutheran Church Endowment Fund, and in return receive an income for you, a spouse, children or others. Options include gift annuities, charitable remainder trusts (including unitrusts, annuity trusts and testamentary trusts), and charitable lead trusts.
