Monday, December 30, 2013

12 Things to do in 2013-Properly Report Your Charitable Gifts

12 Things to do in 2013-Laurie Valentine #12

The federal government encourages charitable giving by allowing you to deduct gifts made to your church and other qualified charities on your income tax return if you itemize. However, you must follow the IRS’s reporting rules to assure your charitable deduction.

If you make gifts of stock, bonds, mutual fund shares, life insurance or real estate with a value of more than $500, you must file Form 8283 (Noncash Charitable Contributions).

If the value of your noncash gift is more than $5,000, you must have what you give appraised. The appraisal cannot be dated more than 60 days prior to the date you complete your gift and must be prepared by a “qualified” appraiser (someone who holds themselves out to the public as an appraiser and who has state credentials showing he or she is qualified to do the appraisal). The appraiser may not be related to you, work for you or the charity on a regular basis, or be a party to the transaction by which you acquired the property. The appraiser’s fee cannot be based on a percentage of the property’s value.

You do not have to have an appraisal for gifts of publicly-traded stocks, bonds or mutual fund shares, even if their total value exceeds $5,000.

To deduct any single gift (cash or noncash) of $250 or more, you must have a written receipt from the charity describing (but not valuing) the gift by the time you file your return. If the charity gave you any thing or service in exchange for your gift, the receipt must describe them and give you a good faith estimate of their value. If no goods or services were provided, the receipt must say that. If the only thing you received for your gift of $250 or more was an “intangible religious benefit” the receipt must say that.

Following the rules is key to assuring the deductibility of your charitable gifts!

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.

Monday, December 23, 2013

Giving That Provides Perpetual Support

By: Laurie Valentine- COO & Trust Counsel 

You do not have to be wealthy to provide financial resources that will change peoples’ lives in the Lord’s name.

Providing support that will continue until the Lord returns for your church; state, national and/or international missions; ministries to hurting children and their families; disaster relief; and/or other causes important to you can be accomplished through the creation of a new endowment fund or by making gifts to an existing endowment fund.

An endowment fund is a permanent, perpetual fund managed either by the cause benefited by your gift or another entity such as the Kentucky Baptist Foundation. Only the earnings from the endowment fund are distributed for use by the cause(s) you have designated; the original value of what you give is never spent.

A large gift is not required to establish an endowment fund with the Kentucky Baptist Foundation. It can be started with any amount and you can add to it from time to time over your lifetime. This permits even those of modest means to do much more than they ever dreamed possible. As the endowment fund grows, more lives will be touched and blessed through the support provided.

Endowment fund giving does not have to be an all or nothing proposition. You may want to use a life income gift to fund an endowment fund. Life income gifts allow you to make a gift now that will provide an income stream to you and/or others for life with the endowment fund funded with the remainder of your life income gift at your death.

Establishing (or adding to) an endowment fund during your lifetime may provide income tax savings if you itemize deductions and capital gains tax savings if you use appreciated assets to fund your gift.

All with which we have been blessed comes from God. Establishing an endowment fund, whether through a single large gift or a lifetime of more modest levels of giving, permits you to demonstrate your gratitude for God’s blessings and your desire to be involved in touching lives in His name.

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, December 19, 2013

12 Things to do in 2013-Unequal Shares in Your Will

12 Things to do in 2013-Barry Allen #12

Typically parents leave their children equal shares of their estates. However, there are reasons a parent might leave unequal shares. These include different needs of the children, financial success of one child, a benefit previously given to a child that will be balanced in the estate distribution, estrangement from a child or a blended family.

The KBF encourages every parent to consider prayerfully the circumstances of their children as they plan their estates - and - also encourages parents to consider including "a child called charity," such as their church and other Christian causes they supported during their lifetimes.

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, December 17, 2013

Giving is the Best Part

By: Barry G. Allen-President & CEO

The results of a recent study conducted by U.S. Trust, a subsidiary of Bank of America, were published by “The Chronicle of Philanthropy.” Although the study focused on wealthy Americans, I found the results to be encouraging, relevant and worthy of sharing with you, my brothers and sisters in Christ as we approach this special season of giving.

At least half of those surveyed stated giving money to good causes was “the most satisfying part of life.” In fact, giving money away ranked highest among a majority of the participants than the possessions and lifestyle that come from their wealth. One unexpected finding was 70% of those between the ages of 18 and 32 cited philanthropy as the best part of having wealth. Only 35% of those over age 68 felt that way.

Not surprising was the fact that 76% said supporting charities had a positive influence on society and 80% said the same thing about volunteering.

The number 1 reason for giving cited by the participants was “creating a positive impact on issues or causes while still alive.” Having a positive impact and changing peoples’ lives has always been the number 1 reason for giving in all of the studies.

Another important reason for giving, according to the study, was “setting an example for family members.” More than half the participants listed that as a top reason for giving. This study also confirmed what other studies over the years have shown, namely, tax considerations are very low on the list of reasons people give. That, too, was an encouraging finding and consistent with biblical stewardship truths.

And, the finding I found most compelling was more than a third said they learned charitable values from their parents and other family members. So, parents, what kind of example are you being to your children, whether minor or adult children, in conveying Christian values and principles in your giving?

To the extent we in the KBF can be of assistance in applying those values and principles and setting the example in your estate plan, please give us that privilege. 

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, December 3, 2013

12 Things to do in 2013-Window of Opportunity Closing!

12 Things to do in 2013-Laurie Valentine #11 

The federal tax bill enacted near the end of 2012 extended the Charitable IRA Rollover provisions through December 31, 2013. There is a good chance this “window of charitable giving opportunity” may close and not be extended after that deadline.

The Charitable IRA Rollover provisions permit a person who is 70 ½ or older to make tax-free outright gifts in any amount up to a total of $100,000 from a traditional or Roth IRA directly to qualified charities. Your church and our KBC and SBC agencies and institutions are “qualified charities”. Private foundations and donor advised funds are not.

You are not entitled to a charitable income tax deduction for your IRA Charitable Rollover distributions. They do, however, count as required minimum distributions.

Act now to avoid missing this valuable opportunity to provide current support to charitable causes important to you.

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, November 21, 2013

12 Things to do in 2013- Year End Giving

12 Things to do in 2013-Barry Allen #11

As we approach the end of the year, here are some reminders about charitable giving to your church, another Baptist ministry or to the KBF for the benefit of your church and/or favorite Baptist ministry(s): (1) to claim a deduction you must itemize on Form 1040, Schedule A of your federal tax return; (2) only donations to qualified charitable organizations are deductible; (3) for 2013, an IRA owner age 70 1/2 or older can make a direct transfer of up to $100,000 to an eligible charity, tax free, as a part of the required minimum distribution; (4) the deadline for 2013 "deductible" contributions is December 31, 2013; if your gift is by check it must be written and mailed by December 31 even though it will not be cashed by the charity until after December 31; the same is true with a gift by credit card. For gifts of appreciated assets, and any other assistance you may need, please call Laurie Valentine toll free 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, November 19, 2013

Development and Trust Agency for Churches

By: Barry G. Allen- President & CEO
           
Your Kentucky Baptist Foundation has been serving Kentucky Baptist churches for more than 68 years by providing stewardship related services, which have included administering endowment and trust funds that benefit churches and other Christian causes, educating individuals and couples about the importance of having a Christian estate plan that includes a benefit for their church and equipping churches in how to be more proactive in cultivating and securing estate gifts for their benefit.

Since its inception in 1945 the KBF has been identified as the “trust agency” of the Kentucky Baptist Convention. Today, I am delighted and excited to announce to you the messengers to the annual meeting of the Kentucky Baptist Convention meeting in Paducah on November 12 approved a recommendation that now adds to the KBF’s identity the designation of “development agency” for cooperating affiliated Kentucky Baptist Convention churches, including but not limited to, promoting legacy gifts to and administering funds of those churches.

This new designation is a result of the review process conducted this past year by the agencies and institutions advisory committee and KBC executive director Paul Chitwood. This new designation recognizes the reality that Kentucky Baptist churches are the most overlooked charities in the realm of estate stewardship, and for our churches to be successful in reaching their communities and the world for Christ, they must be equipped to cultivate and secure legacy gifts from their members.

So, as together we look forward to what lies ahead, the KBF desires an even closer relationship than it’s ever had to you and your churches. How you as a Christian plan your estate likely will be the single most significant stewardship decision you will ever make.

Call upon the KBF to become your and your church’s development and trust agency. Your KBF staff stands ready to assist; we are just a toll free call away. Go ahead and make an appointment with us now, even if the appointment date will be in early 2014. We look forward to your call.

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, November 5, 2013

Small Trusts

By: Barry G. Allen-President & CEO

Many banks, especially the large banks, no longer desire to serve as the trustee of “small trusts.” These banks have different definitions of “small trusts.” Sometimes a larger bank becomes the trustee of a “small trust” as a result of a merger or acquisition of a smaller bank. The primary reason a bank may no longer desire to serve as trustee of a “small trust” is it no longer is cost effective for the bank or the beneficiary of the trust. As a result, it is in the best interests both of the bank and the beneficiary to find a successor trustee that can manage it cost effectively. The successor trustee must be approved by the district court.

The KBF is available to serve as the successor trustee of such “small trusts” if the beneficiary is a Baptist organization or a charitable organization with Christian purposes as determined by the KBF board.

There have been several instances in the past, and we expect in the future, where the bank trustee and the beneficiary(s) have petitioned the district court to name the KBF as the successor trustee, and the KBF has accepted gladly this fiduciary responsibility. In addition to our positive investment performance, the KBF applies a Christian-based social screening policy to all individually-owned securities, and our costs are below the market.

If your church or other charitable organization with which you are affiliated is the beneficiary of a trust for which the costs are consuming a disproportionate amount of the distributable earnings, please give us a call. It is possible the trustee would be happy to know there is an alternative like the KBF.

If your church or other charitable organization is contacted by a bank to inform you of its intent to resign as the trustee due to the “small” size of the trust for which the organization is the beneficiary, please make sure the bank knows about the KBF as an alternative to be the successor trustee.

Every dollar the KBF can save in trustee expenses is a dollar more for kingdom advancement. So, keep your eyes and ears open for opportunities for the KBF to be the successor trustee of “small trusts,” and let me know when you discover one. Grace and peace!

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, October 29, 2013

Church Investments

By: Barry G. Allen- President & CEO 

I continue to be amazed and frustrated by the number of Kentucky Baptist churches unaware of the KBF’s church investment service, and therefore, have limited themselves to certificates of the deposit and money market accounts as the only investment options available to them. The same is true for church cemetery funds.

I am gratified for the many churches that take advantage of our service as a solution to their investment needs. Through September those churches using a blend of 60% Equity and 40% Fixed received a 13.1% return for the one year period; for the prior periods the annualized returns were: three year 8.6%; five year 7.4%; ten year 6.3%; and twenty year 8.0%.

Of course, past performance does not guarantee future results, but I encourage those churches with investment needs not using the KBF currently to please give us the opportunity to make a presentation to your finance committee, trustees or whatever is the appropriate leadership group. A church may select whatever allocation between the Equity Fund and the Fixed Fund that meets its objective. Also, a church may have as many different accounts as it needs.

Just last week I received a call from a church treasurer who had just learned of our service from Don Spencer, who is the church financial benefits consultant with the KBC Mission Board. This happens from time to time as Don is meeting with churches about their employees’ compensation and benefits and discovers they are looking for investment alternatives to low interest paying certificates of deposit and savings accounts. We appreciate Don’s assisting us in assisting churches. In this case, the church treasurer was so appreciative and relieved to learn of the KBF service. I shall be making a presentation to the church’s finance committee about the details of this service and answer any questions they may have.

Among the hallmarks of our service are: above market returns, below market costs and Christian-based social screening consistent with the moral standards as taught and implied in the Scriptures.

For more information, please call me toll free, or go to our website www.kybaptistfoundation.org and click on “Churches/Other Organizations,” then “Investments.”

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, October 24, 2013

Will Your Gift be Deductible?

By: Laurie W. Valentine-COO & Trust Counsel 

Do you know which gifts you make are “charitable contributions” deductible on your income tax return if you itemize your deductions?

First, to be deductible the transfer must be a gift to charity. At a minimum, the IRS requires what you give have a value that exceeds any benefit you receive from the charity in return. If you receive some thing or benefit when you make your gift your deduction is limited to the difference between the value of what you give and the value of what you receive.

If you receive or expect to receive a bargained-for benefit, you are not entitled to a charitable income tax deduction, no matter how the transaction is styled.

The gift must be to charity. A gift to charity earmarked by the giver for a particular individual is not deductible, if the giver’s primary intention was to benefit a particular individual, rather than advance the mission of the charity. The test for deductibility is whether the charity has full control and discretion over the gifted funds and their use.

Gifts must be completed by December 31 to be deductible in that tax year.

Cash gifts are completed if the check is dated December 31 or earlier and delivered to the charity, or placed in the mail with appropriate postage, by December 31. Gifts of securities are completed when properly endorsed stock or bond certificates are delivered to the charity (or placed in the mail with appropriate postage), or when the securities are received into the charity’s brokerage account, or when the security is retitled on the books of the issuing company, whichever occurs first. Real estate gifts are completed when a properly executed deed is delivered to the charity.

There are percentage limitations on the amount of charitable gifts you can deduct in a single year. If the amount of your charitable gifts in one tax year exceeds the percentage limits, you are permitted to carry the unused portion of the deduction forward and use the balance over the next 5 tax years.

Contributions of services to charity and allowing a charity to use your property rent-free are not deductible “gifts”.

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, October 22, 2013

12 Things to do in 2013- Need More Retirement Income?

12 Things to do in 2013- Laurie Valentine #10

Have you determined you may need more income when you retire than will be provided by social security, IRA’s and your investments? A deferred payment charitable gift annuity may be the answer.

A charitable gift annuity is a gift arrangement whereby you make an irrevocable gift to a charity of your choice and retain the right for you (or you and one other person) to receive fixed, never-changing payments for the rest of your lives. At your death, whatever is left is paid to the charity. The future gift to charity is a charitable contribution for which an income tax deduction may be available.

A deferred payment gift annuity is set up and funded now, but the lifetime payments to you don’t start until a future date chosen by you.

The size of the payment you will receive is determined by the amount of your gift, your age at the time of the gift and how long your payments are deferred. Generally, the more time between the gift date and the first payment date the higher the payments to you will be.

You cannot outlive your payments, and the payment amount will not change regardless of changes in interest rates or the economy.

You can fund a deferred payment gift annuity with cash, stocks, bonds or other securities.

If you are 60 and plan to retire at age 70, your deferred payout rate is 7.0%. For every $10,000 you give now, you will receive $700 each year beginning at age 70, and the value of your charitable gift for income tax deduction purposes is 45% of the value of what you give.

For comparison, the immediate gift annuity rate for a 60 year old is 4.4%, the annual payment for every $10,000 given would be $440, and only 29% of the value of what you give is a “charitable gift” for deduction purposes.

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, October 15, 2013

A Unique Treasure

By: Barry G. Allen- President & CEO

Located near the Cumberland River, Cumberland Falls and the Cumberland Gap, nestled in the Kentucky mountains and located on four hills in the city of Williamsburg is the University of the Cumberlands. The green, manicured campus is spacious and pastoral. The buildings are a blend of Antebellum, Edwardian and historic Williamsburg architecture. It is unsurpassed with steeples sweeping up to the glory of God.

In its 125th year, and under the leadership of James Taylor in his 34th year as president, the university remains true to its founding purpose: “To provide a first class education at rates that are compatible with the means of mountain people.” 

Although historically it has served students primarily from the mountain regions of the nine states described as Appalachia, its impact can be seen in the achievements of its graduates who have assumed leadership roles throughout the region, the nation and the world. Cumberland has produced two governors, five military generals, an admiral, five college and university presidents, a congressman, ministers, missionaries, legislators, judges, teachers, doctors, attorneys and the list goes on and on.

In the belief that freedom is the result of respect for truth and concern for humanity, the university, through its traditional liberal arts program, attempts to foster in its students a heightened awareness to the search for truth and a deepened responsibility toward mankind. It seeks to graduate men and women with Christian values derived from spiritual and intellectual experiences within the university community, as well as from the academic disciplines. It offers 40 different majors, minors and pre-professional programs, as well as a leadership/community service program. The staff/faculty ratio is 16:1, and 70 percent of its experienced faculty have earned the highest degree in their fields. 

Kentucky Baptist Foundation is honored to serve as the fiduciary of endowment and trust funds, which have been given by people who believe in the mission of this unique treasure. The earnings from these funds will provide financial sustenance in perpetuity to ensure the future of its mission.

You also can impact the world for Christ by investing in the future of this university with a legacy gift. Call Laurie Valentine or me about some options worthy of your consideration.

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, October 3, 2013

12 Things to Do in 2013- Bargain Sale

12 Things to do in 2013- Barry Allen #10

Ron and Peggy sold their property to a church, which owned adjacent land. This was done through a bargain sale. The property was valued by an appraisal at $625,000. They sold it to the church for $425,000. They received a charitable income tax deduction of $200,000 to offset the capital gain on the remaining portion. Such a transaction is considered part gift and part sale. Contact Laurie Valentine for the details of a bargain sale to determine if such a strategy would work for you.

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, October 1, 2013

Master of Multiplication

By: Barry G. Allen- President & CEO

The great truth of Jesus’ miracle recorded in Mark 8:1-9a is: Jesus in the “great satisfier” and the “great multiplier.” Through this feeding of the four thousand we discover the “master of multiplication.”

As the crowd gathered around Jesus had compassion for them and expressed to his disciples a concern for all the people in the crowd. He did not want to send them away hungry. How did the disciples respond? The same way you and I would have responded, and too often do respond today when faced with challenges beyond our human comprehension. They responded with a sense of helplessness and hopelessness. They responded “where in this remote place can anyone get bread enough to feed them?”

But what did Jesus do? He asked the disciples how much food was available. They replied, seven loaves of bread. Then Jesus told the crowd to sit down; he blessed the loaves and fed all the people. There also were a few fish, which he blessed and the disciples distributed among the people. Then Mark’s gospel recorded this: “The people ate and were satisfied.” And, there were seven basketfuls left over. So, the lesson for us is when we focus on Jesus, he satisfies our hunger and multiplies our potential. He takes what we give him and multiplies it to impact people in need and who need what Jesus has to offer. He truly can multiply our little into a lot. He is the master of multiplication.

Like the disciples, we too often focus on what we do not have, what we cannot do and why we cannot help. Remember this: when the disciples put the little they had into the hands of Jesus, he multiplied it to become a lot. As Dr. Paul Powell observed in his stewardship book some years ago, “Jesus takes our insufficiency and makes it sufficient; he takes our inadequacy and multiplies it into an abundance.”

As you prayerfully ponder what Jesus would have you to do in the use of the resources entrusted to you, remember the master of multiplication can take your little and make it to become a lot. And, in the process you will be blessed with contentment and satisfaction.

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, September 25, 2013

12 Things To Do In 2013- Estate Planning Myths

12 Things to do in 2013- #9 -Laurie Valentine

Don't believe these estate planning myths: 

-You don’t need a Will if you and your spouse own everything in joint names.

-It is best to leave everything to your children, rather than make provision for both your children and  
 grandchildren in your estate plan.

-Creating an estate plan that “avoids” probate will avoid death taxes.

-Only wealthy people include gifts to charitable organizations in their estate plan.

-Your spouse has authority to deal with all of your jointly-owned assets if you become incapacitated.

To dispel these myths and learn how to create an estate plan that protects your family and allows you to be a wise steward of all with which God has blessed you go to www.kentuckybaptistfoundation.org/pg

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, September 17, 2013

Back to Basics

By: Barry G. Allen- President & CEO

September is the beginning of the fiscal year of the KBF. It’s also the beginning of the church year for many churches and the beginning of the school year for many schools. So, it’s a normal time to get back to the basics and start a new process with a new focus and with renewed energy and enthusiasm.

The first basics upon which the KBF board and staff has focused in this new fiscal year are the Great Commission found in Matthew 28:18-20 and the Acts 1:8 challenge. A few days after our Lord gave His disciples the Great Commission, and as He was about to depart from them and to return to the Father, He left to His disciples then, and to us His disciples today, the challenge to be His witnesses not only at home but also to the ends of the earth.

I like how GuideStone Financial Resources president O.S. Hawkins summed up the Lord’s explicit commission to us His disciples. We are “to make” new disciples by leading people to Jesus Christ; we are “to mark” these new disciples through baptism; and we are “to mature” them by “teaching them to observe” all those things Christ commanded.

Inherent in the mission of the KBF is discipleship, and specifically, “to mature” Jesus’ disciples. And, at the heart of discipleship is financial stewardship. And, that aspect of financial stewardship to which the KBF is committed to facilitate the maturation process is estate stewardship. Since we believe for most Christians estate planning is the single most important act of stewardship one will ever perform, our mission is “to mature” Kentucky Baptists, who are disciples of Jesus Christ, in the Christian discipline of estate stewardship.

The most effective way to mature Kentucky Baptists is to equip Kentucky Baptist churches in how to encourage, educate, enable and engage their adult members in estate stewardship. So, as we enter this new year together, let’s get back to the basics of discipleship, which includes stewarding from one’s estate a portion of that which the Lord has entrusted to us. And, please give your KBF the privilege of assisting you and your church.

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, September 10, 2013

12 Things To Do In 2013- A Child Called Charity

12 Things To Do In 2013 #8- Barry Allen

When you are asked the question "who are your dependents?" you typically think first of your children. But what about your church and other charitable organizations that depend upon your financial support as well? Are they not your dependents, as well? I would answer "yes" they are. 

Therefore, as you prayerfully consider the disposition of the estate the Lord has entrusted to you, include a provision for "your child called charity," which would be your church and the other charitable causes near and dear to your heart. If you have 3 children, instead of dividing your estate among the 3, divide it among the 4, your 3 plus your "child called charity." The portion directed to "your child called charity" should be divided among the charitable interests which have been dependent upon your support during your lifetime. 

Call Laurie Valentine or me toll free for more information about "a child called charity."

(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.

Friday, September 6, 2013

KBF Travel and Seminars

The Kentucky Baptist Foundation has a busy Fall ahead! Barry Allen and Laurie Valentine will be traveling throughout the state presenting seminars and talks about how churches and individuals can benefit from Christian Estate Planning and philanthropy. Here is a list of locations and dates. If you would like to schedule a seminar at your Kentucky Baptist church or Association, call us!

Sep 15- Estate Planning Mistakes & Solutions Seminar 
Latonia Baptist Church, Latonia- following morning worship service w/lunch provided

Sep 17 Barry Allen speaks at Enterprise Association annual meeting 
Paintsville First Baptist Church, Paintsville- 6:30PM ET

Sep 22 Estate Planning Mistakes & Solutions Seminar 
Plum Creek Baptist Church, Taylorsville- 7PM ET

Oct 12 Fore Talk Conference (end of life issues) 
Walnut Street Baptist Church, Louisville- 8AM ET

Oct 14 Barry Allen speaks at the Lincoln Co Association annual meeting
Mt Salem Baptist Church, Hustonville- 7:00PM ET

Oct 17 Remembering Your Church in Your Estate Plan Seminar
Calvary Baptist Church, Lexington- 6:30PM ET


Oct 20 Ways To Make Gifts Seminar 
Latonia Baptist Church, Latonia-following morning worship service w/lunch provided 

Oct 20 Barry Allen speaks at the Knox Association annual meeting
Calvary Baptist Church, Corbin- 7:00PM ET 

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, September 3, 2013

I Have a Dream Too

By: Barry G. Allen- President & CEO

August 28 was the 50th anniversary of the late Martin Luther King’s “I Have a Dream” speech. I read the text of that speech every year on the anniversary date and reflect upon the power of its message for all generations. As I was reading and reflecting this year, it occurred to me I have a dream as well. Here’s what I would include in my “I have a dream” speech.

I have a dream that every adult Kentucky Baptist would have a greater propensity to become a more Kingdom-minded steward. As such, we would acknowledge with all our hearts that God is the owner of all things, and we are His stewards in the use of that which He has entrusted us. We would shift our priorities to let God, not money or anything else, be first in our lives so God would work more effectively in our lives. We would demonstrate our dependence upon and dedication to God through our giving. And, we would give generously, thoughtfully, thankfully and cheerfully. By connecting the dots between what we claim we believe the Bible teaches and applying those truths in our lives, we would learn to exchange what we cannot keep for what we cannot lose. We would recognize we do not have to be financially wealthy to make a worthy gift to our Lord. We could enjoy the resources He has entrusted to us, we would share them to help others and we would make eternal investments that touch peoples’ lives and connect them to Jesus Christ.

I have a dream that every Kentucky Baptist church would take more seriously its discipleship duty to challenge its older generation to leave a legacy gift of their love for Christ and His mission in this world, to sensitize and teach its younger generation how to live according to biblical principles of financial stewardship and to incorporate legacy giving into its on-going stewardship education and expectations.

I have a dream that more and more Kentucky Baptist individuals and churches will call upon the KBF to assist in educating, encouraging and enabling Kingdom-minded stewardship. We await your call.

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, August 27, 2013

Advancing the Kingdom Through the Kentucky Baptist Foundation

By: Laurie Valentine-COO & Trust Counsel 

Using the Kentucky Baptist Foundation to accomplish your legacy giving objectives can benefit both you and the Baptist causes you wish to support.

As the trust agency of the Kentucky Baptist Convention, the Kentucky Baptist Foundation receives legacy gifts 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 trust or endowment 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.

Setting up the Kentucky Baptist Foundation as 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.

The board and staff of the Kentucky Baptist Foundation have a sincere desire to help each Kentucky Baptist determine how they can advance the Kingdom and practice their Christian financial stewardship at a deeper level. This desire is reflected in the variety of legacy gift plans offered and the ability of the Foundation to accept gifts of any size. 

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, August 20, 2013

Adapt, Change or Die

By: Barry G. Allen- President & CEO 

Alvin Toffler’s book, “Future Shock,” was the first to sensitize me in the mid 1970’s as a denominational leader to the absolute necessity of identifying and adapting to the megatrends of the future over which I would have no control. Renowned gerontologist, Ken Dychtwald, in his book, “Age Wave,” got my attention in the early 1990’s concerning demographic trends, and particularly the impact the baby boomer generation, of which I am one of 76 million, would continue to have on society in general and the church in particular.

Immediately upon becoming KBF president in 1996, after 25 years with the KBC Executive Board (now Mission Board), I began to alert Kentucky Baptists about the major trends in giving that would impact significantly the financial future of our churches, associations, the KBC and all the related entities. Today, 17 and a half years later, I still am trying to alert Kentucky Baptist church and denominational leaders of the perils of ignoring these trends and the vital importance of adapting to them in order to have a viable future in Kingdom advancement. Also, I am still urging them to recognize the vital importance of the KBF’s mission as part of the solution in resourcing Kingdom advancement, given the trends already impacting traditional giving, not the least of which are the demographic trends.

Emmett Carson, a community foundation president in California, stated it this way: “Charities that don’t recognize demographic trends are going to shrink and ultimately go out of business. The populations in the past that have supported them spectacularly will not have the base to support them going forward. This is adapt, change or die.”

Consider how these demographic shifts will impact your church or ministry. By 2045 people of color will outnumber whites. Already 40 percent of women with children under 18 are the primary breadwinners of which 37% are married and earn more than their husbands. Young adults are more demanding than others and seek concrete results from their gifts and show little allegiance to the organizations the way their grandparents did. They are more likely to give their time than their money. Roughly one in five Americans claims no religious affiliation, and this number is rising especially among those in their 20’s and early 30’s.

Don’t wait! Call us for assistance in your personal stewardship as well as your church’s.

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, August 13, 2013

12 Things To Do in 2013-Retirement Income

12 Things To Do In 2013 #7-Barry Allen


 Will your income from social security, your IRA or 401k plan and your investments be sufficient for your retirement years? Will market fluctuations and low interest rates impact your retirement income. One way to bring some stability and perhaps increase your retirement income is a charitable gift annuity. If you are 78 years old, your gift annuity rate is 6.4%. If you funded a gift annuity with $100,000 in cash or appreciated securities, your annual income would be $6,400, and only a portion of it would be subject to income tax. And, that income amount won't shrink and you can't outlive it, regardless of what happens to your underlying gift. Also, you would be eligible for a charitable income tax deduction on a portion of the $100,000. The older you are the higher the payment rate up to 9%. Also, you can create a joint life gift annuity for 2 people. Call Laurie Valentine or me toll-free for more information about how a charitable gift annuity of $5,000 or more can provide you a lifetime of dependable income while advancing Christ's mission through your church and other Christian causes.

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, August 6, 2013

Remember the Crystal Cathedral

By: Barry G. Allen- President & CEO 

Even if you never have visited the site of Robert Schuller’s Crystal Cathedral, you likely have an image of that ministry and its facilities. The 13-story majestic Tower of Hope, which was dedicated to God’s glory in 1968, now stands idle along with the thousands of dirty glass panes in the cathedral itself. This ministry is in Chapter 11 bankruptcy proceedings. It is likely thousands of other churches and ministries will be in bankruptcy within the next decade or two.

There are numerous factors that will contribute to this, but among the most significant is the passing away of the older contributors who have been and continue to be the sustaining members of evangelical churches and ministries around the world.
 
Those who are coming behind them, children and grandchildren, have not demonstrated anything like the level of commitment to share and to support their churches and ministries. Some futurists have projected a 70 percent decline in giving over the next decade or two if giving trends do not change dramatically. One writer has described it as “a silent tsunami that has already broken—unnoticed and miles off the coast.” Regretfully, most churches and ministries are unprepared.

Did you know people over age 75 give four times as much of their income as 25 to 44 year olds, according to “The State of Church Giving Through 2009?” Each younger generation gives significantly less of its income to ministry. 

Although older members account for only 19 percent of the membership of churches in the USA, they give 46 percent of the donations, according to a Barna Survey. Can your church sustain a 46 percent drop in donations?

These older, more generous core members are the ones whose funerals are being held every day across this country. Collectively they will be passing 41 trillion dollars of wealth to their children, grandchildren, other heirs—and to the government in taxes. It is highly unlikely your church is receiving even a tithe of this largest generational transfer of wealth in history? Why? Because pastors and other church and denominational leaders are not allocating the resources necessary to educate, encourage and enable these faithful members to consider their church and other ministries in their estate plans.

The Kentucky Baptist Foundation exists for that very purpose. Please give us the privilege of assisting you and your church, and other ministries.

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, August 1, 2013

Giving That Benefits Family & Charity

By: Laurie Valentine- COO & Trust Counsel


Legacy giving not only offers a variety of ways to provide valuable support to charitable causes important to you, it can also help you solve personal financial challenges.

One such giving plan is a charitable remainder annuity trust (“CRAT”). A CRAT is an irrevocable trust that pays a fixed, never-changing income stream to the giver and/or others for life or a term of years and the remainder to one or more charities.

Your lifetime gift of cash, securities or real estate to a CRAT entitles you to a charitable income tax deduction equal to the present value of the charity’s remainder interest. And, a CRAT can provide beneficial ways to solve a variety of financial challenges such as:

Help with College Expenses: Your grandson will be heading to college in the fall and you want to provide him with funds for tuition and other expenses. A gift of $50,000 to a 10% five-year CRAT will provide your grandson $5,000 per year for 5 years (a total of $25,000) and entitle you to a charitable income tax deduction of $25,900. If the trust assets earn an average annual total return of 7.0% over the five year trust term there will be almost $42,000 left to distribute to the charitable causes you name in the trust agreement.

Financial Assistance to a Sibling: You have been providing $210 per month ($2,500 per year) to your 80-year-old brother for the past few years. While at age 78 you currently have no health problems, you want to make sure that support would continue for your brother no matter what your future circumstances. A gift of $50,000 to a two-life 5.0% CRAT allows you to set up a plan that would pay your brother $2,500 per year for the rest of his life and then that same amount would be paid to you for the rest of your life. Your gift to the CRAT entitles you to a charitable income tax deduction of approximately $21,750. And, this giving plan will provide a significant future gift to the charitable remainder beneficiaries.

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, July 30, 2013

P P P P P Givers

By: Barry G. Allen- President & CEO 

I am one of those fortunate individuals whose parents began teaching me and holding me accountable at an early age about the importance and the role of financial stewardship in my relationship to Christ and to other human beings.

My late father’s favorite scripture was Malachi 3:10: “Bring the whole tithe into the storehouse … Test me … says the Lord Almighty, and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it.” He more than tithed out of his income and the profits from his business. My late mother tithed out of the allowance my father provided her to run the household. So, all of my life I have been a proportionate giver with the tithe as the floor, not the ceiling, of my giving. I like what the late R. G. Lee said to those who claimed tithing was an Old, not a New, Testament requirement. He said: “to give less under grace than we give under law is a disgrace.”

I was taught also to be a priority giver, which means to give “first” regardless of the proportion, then save and spend. Too many Christians spend first, and too often there’s nothing left to give or to save. The Apostle Paul advises in 1 Corinthians 16:2 to set aside on the “first day of the week” a proportionate sum to give.

To be a progressing giver was another part of my parents’ teaching. That meant to be ever growing the proportion of my giving. The example of Zaccheus in Luke 19:8, who gave one-half of his possessions, is not out of the question for many.

And, I was taught to be a pleasurable giver, not reluctantly or under compulsion, “…for God loves a cheerful giver” (2 Cor 9:7).

Finally, I have been taught to be a perpetual giver, leaving a lasting legacy beyond my lifetime to advance Christ’s kingdom (Proverbs 3:9; Hebrews 11:4).

Over the years I have proven both the reasons and the promises the Lord has made to His people about giving; I urge you to do the same thing. Let us know how we can help.

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.

Friday, July 19, 2013

12 Things To Do In 2013-Is Your Estate Distribution Plan "Coordinated"?

12 Things to do in 2013- #7 -Laurie Valentine


Of the 40% of Americans who actually have a written plan for how they want their assets to pass at their death, only 30% of those plans are up-to-date. And, I would suspect, some of the “up-to-date” plans are no longer completely “coordinated”.

A “coordinated” estate plan is one that coordinates the provisions in your “written plan” for who is to inherit what when you die (your Will or Will and Revocable Living Trust) with how your assets are titled and who are named as beneficiaries of life insurance policies, IRA’s and other contractual death benefits.

Here’s an example of what can happen if you don’t have a “coordinated” plan: Your Will sets up a trust fund for your son to be held until he is 26 and your IRA beneficiary designation directs your son’s share of the IRA be added to the trust created under your Will. However, the beneficiary designation for your life insurance policy names your son as the outright beneficiary. At your death, assuming your son is under age 26, your probate assets and your IRA will be held in the trust for your son, but the life insurance will be paid outright to him. If your intention was for your son to not have complete ownership and control of anything he inherits from you until he is 26, your “uncoordinated” plan defeats your objective.

To assure you have (and keep) a “coordinated” estate plan, check asset titling and all beneficiary designations when you make a Will or Revocable Living Trust or make changes to those documents.


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, July 16, 2013

Stubborn and Stuck

By: Barry G. Allen- President & CEO

Charitable giving from all sources in America in 2012, the latest records available from “Giving USA” was $316 billion. That represented a 3.5 percent increase over 2011. Giving by individuals was $229 billion, a 3.9 percent increase, and represented 72 percent of all giving. As usual, religious organizations received the largest proportion of giving at 32 percent. Educational organizations received the next largest proportion at 13 percent. The $229 billion given by individuals was the second highest in history. The $233 billion given in 2007 was the all-time high.

What is really astounding and disappointing is we Americans are giving about the same proportion of our disposable incomes as we were 40 years ago. In fact, we are giving less proportionately. In 1972 the proportion was 2.2 percent; in 2012 it was 1.9 percent. Despite the significant growth in disposable personal income over the past 40 years and the growth in the intensity of appeals for funds from the ever growing number of charitable causes, we have been stubborn and decided not to give a larger share of our incomes. Instead, on average we continue to be stuck at about 2 percent and continue to give ourselves and our families top priority in the use of more than 98 percent.

I was struck by what one charitable giving consultant observed about this 2 percent phenomenon. He stated he was convinced the key factor in driving increased giving for most people was to teach them “when” to give. He cited two reasons. First, the habit of most is to give out of what is left after all the bills are paid instead of giving first before the bills are paid. Second, in the Christian tradition those who have been taught to give the “first fruits” tend to give more proportionately than those who are simple told to give because it’s their Christian duty.

The solution for being stubborn and stuck in our charitable giving is related directly to the Lordship of Jesus Christ in our lives. And the Holy Scriptures are filled with truths about giving. I strongly urge you to be more intentional in your study and application of those truths, including the advice of the Apostle Paul in 1 Corinthians 16:2 to set aside on the first day of the week a proportionate sum to give.

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.

Friday, July 12, 2013

12 Things To Do in 2013- Estate Planning For Supporting Children and Charity

12 Things to do in 2013- #6 -Barry Allen

Estate planning option for supporting children and charity

Some parents may prefer to provide an income distribution versus an outright distribution from their estates to their heirs. In some cases, the savings generation parents may be concerned their spending generation children will "go through" the parents' life time savings too quickly. An option to consider to protect what took a lifetime to accumulate but provide for children and the charities near and dear to their hearts is a Charitable Remainder Trust.
For information contact Laurie Valentine or me.

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, July 2, 2013

Inheritance: What Kind Are You Bequeathing?

By: Barry G. Allen- President & CEO

The matter of inheritance is exceedingly important and a crucial concern in the dynamics of family life today. Parents consider at length what kind of inheritance they want to pass on to their children. And, children, in turn, when they attain a certain age, ponder what they are going to inherit from their parents. The familiar and favorite parable of the wise father and the prodigal son (Luke 15:11-24) is the finest example I know of the kind of inheritance I would like to give as a parent and receive as a son.

To clarify what this parable teaches us two common misconceptions must be addressed and set aside. The first is an inheritance is something parents leave their children after they have died. However, if you think about it, this is far too limited a concept because parents begin bequeathing an inheritance to their children the moment the child is born in the sense of passing on certain life experiences and values that surely will shape that child’s existence. So, the request of the prodigal was not as brash as it first appeared. Like any young adult leaving home he gathered up whatever inheritance had been shared with him and began transacting with life out of that legacy. As parents it is imperative we not wait until the end of life to consider what kind of inheritance we want to leave.

The second misconception is an inheritance consists only of money or physical property, which also is a far too restricted view, because an inheritance stands for all parents transfer to their children in terms of opportunities, values and a whole vision of life. This is not to imply the economic side is unimportant, because it is very important. But it is not everything, and a child is poor indeed whose parents do not realize this and seek to bequeath only a monetary estate. A child needs more from parents than money bequeathed at death, and this is why the father of the prodigal is so worthy of our attention. And, what makes it doubly important is this father is a reflection of our Father in Heaven.

So, remember, it’s more important what you leave in them that what you leave to them. “Instill your values…before you give them your valuables.” 

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, June 25, 2013

Maximize Your Charitable Giving


By: Laurie Valentine- COO & Trust Counsel 

Maximize your giving impact by:
* Determining if the causes you want to support are qualified charities---the IRS Website (www.irs.gov/charities/index.html) can tell you if they are “qualified” 501(c)(3) organizations (NOTE:  churches are qualified charitable organizations but don’t have to register with the IRS).
* Determining if the charity will be a good steward of your gift---talk to the organization’s leadership; check out website databases that report on the activities and finances of charities such as www.give.org (Better Business Bureau’s database on charities that solicit nationally with links to local BBB sites); www.guidestar.org; and www.charitynavigator.org.
Maximize your tax savings by:
* Giving appreciated assets (stocks, bonds, mutual fund shares, or real estate) rather than cash---the after-tax cost of your charitable gift will be lower than the same size cash gift when you consider both the income tax savings and the capital gains savings you may realize from using the appreciated asset to make your gift.
* Selling depreciated long-term capital gain assets and giving the cash sale proceeds---you’ll get a charitable income tax deduction if you itemize and a deduction for the capital loss.
* Establishing a Donor Advised Fund (DAF).  DAF’s allow you to make your gift in a year when the deduction can save taxes, but defer the decision about what charities will benefit from your gift until later years.
*Maximize your income by:
* Setting up a “life income” gift such as a charitable gift annuity or charitable remainder trustLife income gifts provide an opportunity to set up an irrevocable future gift for charity with the potential to increase current cash flow to you and/or others for life or a term of years.  Not only may your cash flow increase, you’ll have tax savings from the deduction of the value of the charity’s interest in the year you set up the life income gift, if you itemize deductions.

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, June 20, 2013

12 Things to Do In 2013-Review Your Estate Plan


12 Things To Do In 2013 #5- By Laurie Valentine

Review Your Estate Plans  

Advancing The Kingdom Through Estate Planning 

Your church uses worship, relationships and service to draw people into a closer relationship with Jesus.

Ensure your church will have the financial resources to continue its mission and ministry until the Lord returns by incorporating one or more of the following charitable giving ideas into your estate plan:

BEQUEST IN WILL OR TRUST

  • Gift of a specified asset or amount

  • Gift of a designated percentage of your estate

  • Outright bequest allowing use of entire gift or bequest to create (or add to) a perpetual support (endowment) fund

  • Designated for a particular program or ministry or Undesignated allowing your church to decide the use of the gift

BENEFICIARY DESIGNATION

  • Name a your church as primary or contingent beneficiary of a life insurance policy

  • Designate your church as the beneficiary of a designated portion of your IRA or other retirement asset death benefit

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.