Managing God’s Creation Through
Your Gifts
An Educational Presentation By
The
- Purpose
- God is the
Owner of all creation, but He entrusted us to manage this creation wisely
for His purposes. Deep down inside, each of us wants to leave something
behind.
·
We want to leave a legacy.
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We want it to be significant.
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We want an epitaph with substance.
God
put this desire in us because it is one of our purposes in life.
·
The
Immanuel Lutheran Church Foundation was established to provide us with the opportunity,
as donors, to support the mission and ministry of Christ in our lifetime, and
beyond, by receiving, managing and distributing funds according to our wishes.
·
By
donating to the Foundation, we can take one step in helping to wisely manage
God’s creation for His purposes.
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The
Foundation helps you in managing God’s creation by furthering the programs of
·
The
Foundation will not accept donations nor make any investment or expenditure
that is contrary to the moral and spiritual standards of
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History
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The
Immanuel Lutheran Church Foundation was established by Immanuel Lutheran Church
of Seymour and incorporated as a not-for-profit corporation in the State of
·
As
a Foundation, it provides its members and other donors with significant
tax advantages available for charitable contributions and estate gifts.
It also empowers donors to choose the purposes for which the gift
is to be used and whether or not the principle is to be spent or preserved.
·
The
Foundation provides an outstanding investment value for the
donor, since operating expenses are .0025 for every dollar received (one
quarter of one percent). This means that donations received, and the earnings
on funds invested, go to the purpose you designate, not for overhead costs.
Other Foundations have operating costs that can be as high as 70%.
·
The
Foundation’s Board manages a balanced portfolio that is designed to
preserve and grow principle while also earning substantial
returns to support the ministries that are the beneficiaries of the
funds.
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Foundation
funds are not used to support the general operations of
·
Donors
may wish to contribute to the Immanuel Lutheran Church Endowment Fund, proceeds
of which may be used for the general purposes of Immanuel congregation.
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Foundation Receipts and Disbursements
·
Over
the past 33 years, since its inception in 1975, the Foundation has grown to
over $1,700,000 in assets that are being used to carry on the programs of the
Foundation, as specified by the donors.
·
The
Foundation’s assets have grown to this level from its inception on
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How are Contributions Received?
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Gifts of any amount (even a $1.00) may be made to the
Foundation.
Cash, stocks, IRA direct transfers, mutual funds, property, life insurance
policies, or other assets may be gifted directly to avoid unnecessary tax
burdens.
·
Such
gifts may be added to an existing fund; to the undesignated fund managed by the
Board, or may be used to establish a named fund.
·
Donors
may wish, over time or through a one-time gift, to establish a fund in their
name of $10,000 or more. This minimum amount is established so that the
earnings generated by the fund are sufficient to provide meaningful support for
the programs being named.
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Some
of the existing funds managed by the Foundation are:
·
·
Capital
Improvement Fund
·
·
Special
Ministry Projects Fund
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Music/Organ
Fund
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Christian
Education Fund
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Student
Aid for Teachers Fund
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Student
Aid for Pastors Fund
·
·
Human
Care and Relief Fund
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Cemetery
Endowment Fund
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Media
(Television, Radio, etc.)
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For
the creation of new funds, a Pastor or Foundation Board Member may be consulted
to clarify needs and to prepare a letter of instruction for the Foundation’s
Board
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What is the Need?
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Until
Christ returns, we are to be about “making disciples of all nations, baptizing
and teaching” and also to “Love one another as I have loved you.”
·
Training
pastors and teachers
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Helping
those in need
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Reaching
out to the community
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Doing
mission work
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Providing
for the beautification and expansion of the Church and School
These are important needs we seek to
fulfill until Christ returns.
·
The
Foundation provides a real and lasting way to work toward
accomplishing these objectives beyond what is done in the regular church
budget.
·
The
Foundation also provides a way to perpetuate the memory and the work of a
Christian. The name of the giver, or of a loved one, can be linked for
generations with the ongoing work of Christ.
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How Can You Preserve Your Assets and Help Manage God’s
Creation?
·
There
are many ways you can make a gift to the Foundation. We cannot provide any
legal or tax advice relating to any of these gift options; therefore, we
request that you contact your legal representative or tax advisor with any
specific questions that you may have.
·
The
following gifting options are only a partial list of the many ways for you to
make charitable gifts.
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Outright Gifts:
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Write
a check or give cash to the Foundation and take an itemized tax deduction. To
receive a tax deduction, you will need a receipt from the Foundation for gifts
made by check of $250 or more. For cash donations, a receipt is required no
matter what the amount.
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Will or Trust Bequests:
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Create
a bequest to the Foundation by including a charitable gift provision in your
will or trust document. Your estate could receive a charitable deduction for
the value of the bequest.
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Beneficiary Designation Gifts:
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Name
the Foundation as the beneficiary of your life insurance, annuity, trust or
IRA. Your estate could receive a charitable deduction for the value of your
assets transferred to the Foundation.
·
Life Insurance Gifts:
·
Purchase
and gift a new contract to the Foundation, or gift an existing contract. The
contract’s value and premiums might qualify you for an income tax deduction.
Upon your death, the insurance proceeds go to the Foundation.
·
Investment Gifts:
·
Transfer
your ownership of an investment (for example, land, a mutual fund, or stock) to
the Foundation. If you itemize tax deductions, you could receive a deduction
for the gift you’ve made. You may be able to reduce or eliminate capital gains
and estate taxation through this type of gift as well.
·
Gift Annuity:
·
Transfer
money or property to the Foundation in exchange for a fixed income for you
and/or a survivor’s lifetime. Generally, you can receive an income tax
deduction for the difference between the market value of the gift and the value
of the retained annuity.
·
Traditional IRA Gifts:
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Funds
in a traditional IRA can be given to the Foundation through your IRA
beneficiary designation. The IRA funds pass to the Foundation after death,
escaping the income taxes due on the remaining funds. Your estate may receive
an estate tax deduction as well.
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Direct Transfers from an IRA:
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In
2008 and 2009, individuals that are the age of 70 ½ and older may distribute up
to $100,000 tax free annually from their IRA to a qualified charity (the
Foundation qualifies) without including the distribution in gross income or
taking an itemized deduction. To qualify, the distribution must be made
directly from the IRA trustee to the Foundation.
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Zero Estate Tax Gifts:
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Your
will or trust can be designed to pass along the maximum amount of estate assets
to your children after death, estate tax free, through a family testamentary
bequest. The remaining assets then are transferred to the Foundation through a
bequest, also estate tax free. This plan may result in a zero estate tax due on
your estate.
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Charitable Remainder Trusts:
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Give
money or property to an irrevocable charitable remainder trust in exchange for an
income during your life and/or the life of your survivor. After death, any
remainder value in the trust passes to the Foundation.
·
You
could defer, reduce or eliminate capital gains tax otherwise due on sale of the
assets. You also may receive an immediate charitable income tax deduction on
the remainder interest of the property that passes to the Foundation. Finally,
the assets in the charitable remainder trust may escape some estate tax after
your death as well.
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Wealth Replacement:
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Life
insurance can be used to replace the value of the gift to the Foundation. You
purchase life insurance on your life equal to the value of property you plan to
gift. At death, the insurance proceeds pass to your heirs
income tax free. If a family member or an irrevocable life insurance trust
purchases the insurance, then the proceeds may be estate tax free as well.
·
Wealth Replacement Trust:
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Also
called an irrevocable life insurance trust (ILIT). This living trust is created
outside the donor’s estate and is set up to own life insurance on the donor.
The amount of life insurance the trust owns usually is less than or equal to
the amount of property you plan to give to the Foundation. Upon your death,
your heirs, who usually are the trust beneficiaries, can receive the insurance
proceeds from the trust both income and estate tax free.
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Ways to Designate How Your Gift is Used
·
You
can instruct the Foundation on how the Gift you make is to be used. Your Gift
can be set up using one of the following means:
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Unrestricted Bequest
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The
Foundation Board reviews requests and approves expenditures. Since we may not
now know the most pressing needs in the next 15-20 years, this provides flexibility and is a preferred method of
receiving Gifts.
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Restricted
Bequest
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All
of the Gift may be used for Foundation’s programs as you specify
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Endowed
Bequest
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Principle
is not used, but income earned is used as you, or the Foundation, determine
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Memorials
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Gifts
in Memory of someone you designate is used as you, or the Foundation, determine
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Whom May I Contact If I Have Questions?
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The
Immanuel Lutheran Church Foundation of Seymour Indiana, Inc. is ready to serve
you. If you have questions or would like additional information, please click and remit this form or
contact those below:
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Reverend
Ralph Blomenberg or Beckie
Anderson(812) 522-3118
·
The
·
Visit
our website:
Letters of
instruction are available for your use to designate a gift to the Foundation
fund of your choice.
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