Establishing Planned Giving Programs in the Local Church Presented by Jason Frame Why should a church develop a Planned Giving Program The largest gifts your.
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Establishing Planned Giving Programs in the Local Church Presented by Jason Frame Why should a church develop a Planned Giving Program The largest gifts your church will EVER receive will come from someone's estate plans. 70% of the people sitting in your congregation every weekend do not even have a basic plan. Among those few who do have a plan, your church is likely to be completely left out of their estate plans! 91% of a person's assets are not part of their regular income sources (property, possessions, investments, retirement accounts, life insurance, etc.) Why should a church develop a Planned Giving Program Millions of dollars could be put to work for Kingdom use, rather than going to the Government In 2001, over $659 million of avoidable capital gain taxes were paid because people cashed out their assets and then donated the resulting funds. Planned Giving Vehicles Gifts of Appreciated Assets Member donates Stocks, Mutual Funds, Bonds, Real Estate or other assets, and generally receives a tax deduction for those assets Gifts of Life Insurance Member of the church buys a policy and names the church as owner and beneficiary. The annual premiums are a tax-deduction to the donor. Case Study Central Christian Church Gifts of Appreciated Assets Caring for Kids Year End Offering Gifts of Real Estate Gifts of Water Rights Gifts of Life Insurance Planned Giving Vehicles Estate Planning Services Many churches have begun helping their members in the area of Estate Planning, either through putting on workshops or bringing in attorneys to talk with individual members. Case Study Lincoln Berean Church Estate Planning Passing the Baton Class Developing the estate plan is done either inhouse by staff member or through attorneys who are church members Use attorneys who are members of the church to generate legal documents Attorneys are asked to generate the documents pro-bono for some church members Case Study Gateway Church Estate Planning Estate Plans are created by an outside estate consultant Ray Lyne, Lifestyle Giving Use attorneys who are members of the church to generate legal documents Church offers to pay to pay attorney fees for legal documents to be created Case Study Central Christian Church Estate Planning Use a ministry partner to facilitate estate planning workshops and to general legal documents Financial Planning Ministry (fpm.org) Use local attorneys for more advanced or special cases Church members get all legal documents generated at no cost if they leave a gift to the church in their estate Planned Giving Vehicles Donor Advised Giving Funds administered by a third party created for the purpose of managing charitable donations on behalf of an organization, family, or individual. A donor-advised fund offers the opportunity to create an easy-to-establish, low cost, flexible alternative to direct giving or creating a private foundation. Case Study Saddleback Church “Saddleback Giving Funds” Partnership with the National Christian Foundation Partnering with the National Christian Foundation 5 ways NCF currently works with churches Establishing a church foundation Providing Charitable Gift Planning Executing Non-liquid Gifts Developing a giving journey ministry within the church Providing discounted generosity resources Helpful Resources Websites Planned Giving Today http://www.liebertpub.com/pgtoday Philanthrocorp http://www.aboutplannedgiving.com Maximum Generosity – Brian Kluth http://www.kluth.org Financial Planning Ministry http://www.fpm.org