Thursday, March 26, 2015

Giving without “Strings”

By Laurie Valentine-Acting President, CFO & Trust Counsel

If making a simple gift now without keeping for yourself any rights or interest in what you give sounds like something you want to do, an outright legacy gift to your church or other charitable cause is the type of charitable gift that will accomplish that objective.

An outright legacy gift is a gift of an asset to charity during your lifetime. The charity becomes the full owner of what you give it and you have no further right to income or anything else from the asset you give.

Any type of asset may be used---cash; stocks; bonds; mutual fund shares; real estate; cash value life insurance policies; and interests in business.

Using appreciated assets to make an outright legacy gift can provide several benefits including a charitable income tax deduction based on the current market value of the gifted asset (if you’ve owned it for at least a year) and avoidance of the capital gains tax that would be incurred if you sold the asset.

Make a lasting difference for the cause of Christ in this world through an outright, “no strings attached” legacy gift to your church or other Christian cause.

For more information, please call us at (502) 489-3533 or toll free in KY at 1(866) 489-3533.

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

Tuesday, March 24, 2015

A Christ-centered Will

By: Barry G. Allen

New Testament professor R.E.O. White taught the permanent value of Paul’s letter to the Colossians is its value both as a theological feast and a spiritual tonic. Paul’s purpose in writing was both to instruct a questioning faith and to enrich daily Christian life. Both the fullness of Christ and the Christ-filled life are affirmed by Paul. His fullness is affirmed in relation to God, the universe, the church and experience.

As disciples of Jesus Christ, we strive daily to reflect a Christ-filled life. In Colossians 1:16, Paul acknowledged “all things were created by Him and for Him” to fulfill His purposes and to promote His glory. How we plan our estates very likely will be the single most important act of financial stewardship we will ever make. Therefore, it is vitally important we acknowledge and affirm His Lordship in our lives with a last will and testament that is Christ-centered. Through faithful estate stewardship we impact the world for Jesus Christ, we advance His Kingdom and we acknowledge His Lordship. Furthermore, obedience in this realm and writing a Christ-centered will enriches our daily lives as we find contentment in knowing the financial resources He entrusted to us in life will be used in fulfilling His purposes and promoting His glory beyond our lives on this earth.

A bequest in a will or revocable living trust for the benefit of your church and other Christian causes is the simplest and most popular way to have a Christ-centered will. The bequest can be a specific sum, percentage or asset; it can be undesignated or designated; it can be outright or for perpetual support through an endowment fund. The reason a bequest is so popular is it allows one to retain complete control and use of the financial resources until death when they are no longer needed.

In 1 Timothy 6:7 Paul reminds us financial resources are temporal; they provide for our basic needs, but we must put godliness above everything else: “For we brought nothing into this world and we can take nothing out of it.” When you and I gain that truth, we gain something lasting.

For more information, please call the KBF at (502) 489-3533 or toll free in KY at 1(866) 489-3533.

Barry Allen is the retired President and CEO of the KBF and currently serves as a consultant to the interim management team. This article published in this week's Western Recorder also appeared in a previous edition of the paper. The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.




Thursday, March 19, 2015

12 Creative Giving Ideas for 2015- #2

By: Laurie Valentine-Acting President, CFO & Trust Counsel 

If your goal is to make a simple “no strings attached” gift now, an outright legacy gift to your church or other charitable cause is the type of legacy gift to make.

An outright legacy gift is a gift of one or more assets during your lifetime. The charity becomes the full owner of what you give it.

Any type of asset may be used---principal cash; stocks, bonds, mutual fund shares; real estate; cash value life insurance policies; retirement accounts; and interests in business.

Using appreciated assets to make an outright legacy gift can provide several benefits---a charitable income tax deduction based on the current market value of the asset (if you’ve owned it for at least a year) and avoidance of all or a portion of the capital gains tax that would be incurred if you sold the asset.

For more information, please call us at (502) 489-3533 or toll free in KY at 1(866) 489-3533.

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

Wednesday, March 11, 2015

This Sacred Trust

By: Barry G. Allen

Oliver Wendell Holmes advised this: “Put not your trust in money; rather put your money in trust.” What better trust than one that honors Christ and provides a perpetual benefit for the advancement of His Kingdom through the mission of one or more of your favorite Baptist organizations, including your church?

Your Kentucky Baptist Foundation is Kentucky Baptists’ one and only “trust agency.” It is a “sacred trust” in that it is set apart and dedicated to receiving and administering endowment and trust funds for the perpetual benefit of Kingdom advance through the support of the missionary, educational and benevolent ministries of your larger Baptist family in Kentucky and to the ends of the earth, which include churches, associations, KBC related institutions, agencies, auxiliary and partnering organizations, the KBC Mission Board and SBC related entities. In the realms of estate stewardship consultation and perpetual funds management, everyone needs someone they can trust to provide solutions to the philanthropic goals the Lord has laid upon their hearts. For 70 years, your Kentucky Baptist Foundation has remained worthy of the trust of its Baptist family.

It’s trustworthy because it brings the very highest business and ethical standards in fulfilling its mission as a “sacred trust.” It is trustworthy in the fact it does not exist for itself but for the rest of its Baptist family. It is trustworthy because of the proven quality, integrity and prudence in the management and methods by which it is led and governed. It is trustworthy because of the hundreds of Kentucky Baptists who have utilized it to accomplish the Christian stewardship purposes they understood God was calling them to accomplish with the financial resources He entrusted to them.

We want to extend to you the services of this “sacred trust,” called the Kentucky Baptist Foundation, to facilitate the stewardship of that which the Lord has entrusted to you to use for His purposes. Laurie Valentine, our trust counsel, is awaiting your toll-free call.

For more information, please call us at (502) 489-3533 or toll free in KY at 1(866) 489-3533.

Barry Allen is the retired President and CEO of the KBF and currently serves as a consultant to the interim management team. This article published in this week's Western Recorder also appeared in a previous edition of the paper. The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

Thursday, February 26, 2015

The Great Commission and Discipleship

By: Barry G. Allen

Early in Matthew’s Gospel (4:18-20), Jesus called the first two of his disciples, namely, the fishermen brothers, Peter and Andrew. He called them to leave their nets and to follow him to become fishers of men. Matthew’s Gospel closes dramatically and forcefully with the resurrected Jesus giving his eleven disciples the Great Commission.

As critical as the concern for man’s salvation is in the Great Commission, we in the church have been so preoccupied with the lost world we have failed to focus on that aspect of the Great Commission that is the call to be brought under Christ’s discipline and to be taught to obey all that has been commanded by the one to whom all authority had been given. The call to discipleship is the call to submit to the kingly rule of God in our lives (6:33).

Therefore, we in the church must realize a lot of spiritual maturing had to take place between Jesus’ call to Peter and Andrew to become fishers of men and his commission to them and the others to go and make disciples of all nations. The same is true for us today. There’s a huge amount of teaching from Jesus between Matthew 4 and Matthew 28. Before we can effectively go and teach others to be obedient to Jesus and all he commanded, we ourselves must become obedient, and we have not.

I agree with Henry Blackaby’s assessment of where we are as Southern Baptists and where we ought to go from here. He has said, “If Southern Baptists want to see a Great Commission Resurgence, we need to focus on the relationship between disciples and the living Lord Jesus, not launch a new emphasis on evangelism. Southern Baptists have focused on evangelism and missed discipleship. The heart of the Great Commission and discipleship is to teach them to practice everything I have commanded you.”

Finally, at the heart of discipleship is financial stewardship for Kingdom advancement about which Jesus had more to say than any other discipline (6:19-21, 24).

For more information, please call us at (502) 489-3533 or toll free in KY at 1(866) 489-3533.

Barry Allen is the retired President and CEO of the KBF and currently serves as a consultant to the interim management team. This article published in this week's Western Recorder also appeared in a previous edition of the paper. The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

Tuesday, February 24, 2015

Estate Stewardship Through Kentucky Baptist Foundation

By: Laurie Valentine - Interim President, Trust Counsel and COO
Using the Kentucky Baptist Foundation to accomplish your estate stewardship objectives can benefit both you and the Baptist causes you wish to support.

The Kentucky Baptist Foundation is the trust agency of the Kentucky Baptist Convention. It can receive lifetime gifts and/or gifts at death for the support of all Kentucky Baptist and Southern Baptist causes. The Foundation, as a “member of the family”, has a special appreciation and affection for the mission and ministry of the causes that will be supported through your gifts. This connection assures you, as the giver, the Foundation has each cause’s best interests in mind as it manages the gifts made for that cause’s benefit.

Many givers want to benefit more than one cause and realize that dividing their gift may result in lower total support. A single fund can be set up with the Kentucky Baptist Foundation to provide support to more than one Baptist cause. This can result in more consistent levels of support for all----each cause will have the benefit of the same level of competent investment management oversight services and the economies of centralized fund management.

Making the Kentucky Baptist Foundation the manager of your gift assures the causes you want to support are left to do what they were called to do---missions, Christian education, child care, evangelism, disaster relief, etc. You relieve their board, trustees and/or staff from day-to-day investment research, analysis, decision-making, transacting and reporting, and place those responsibilities with the organization whose mission is to provide competent, prudent financial management for the causes designated by its donors.

Let us help you discover how you can practice your financial stewardship at a deeper level.

For more information, please call us at (502) 489-3533 or toll free in KY at 1(866) 489-3533.

The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.

Thursday, February 12, 2015

Wise Foolishness

 By: Barry G. Allen-

            In 1 Corinthians 1:18-25 the Apostle Paul contrasts human and divine wisdom.  To understand his argument one must pay attention to the shifts in the meaning of the word “wisdom.”  When he uses it for human reason apart from God it has a negative connotation, which is “wisdom of the world.”  When he uses it of God it has a positive force, which is something like “God’s wise plan of salvation.”  Since God’s plan of salvation is ultimately revealed in the cross of Christ, the word is personified.  In other words, Christ on the cross is the ultimate wisdom of God.
            Thus, the contrast is between wisdom as human intellectual striving to attain the ultimate and wisdom as revelation, God’s gift.  The cross is the divider which separates those who are on their way toward salvation and those who are perishing.  “For the message of the cross is foolishness to those who are perishing, but to us who are being saved it is the power of God” (v 18).
            In verses 19 -20 Paul establishes the premise that God has rendered worthless all human-centered attempts at salvation: “Has not God made foolish the wisdom of the world?”  Not only did God reject the fruitless striving of human wisdom, but also He chose a means of revelation actually contradictory to that wisdom, namely, the foolish proclamation of a crucified Savior: “but we preach Christ crucified: a stumbling block to Jews and foolishness to Gentiles” (v 23).  But those whom God has called are able in faith to understand Christ is the ultimate wisdom and power of God (v24).

            “For the foolishness of God is wiser than man’s wisdom, and the weakness of God is stronger than man’s strength” (v 25).  Therefore, let us demonstrate in our lives this wise foolishness about which Paul wrote, which is the true wisdom of the cross that reduces to foolishness everything the world values, and let us be faithful in living sacrificial lives as we share the Gospel to a culture to which the Gospel seems foolish.

For more information, please call us at (502) 489-3533 or toll free in KY at 1(866) 489-3533.

Barry Allen is the retired President and CEO of the KBF and currently serves as a consultant to the interim management team. This article published in this week's Western Recorder also appeared in a previous edition of the paper. The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.