Tuesday, March 18, 2014

Legacy Giving Through the CP

By: Barry G. Allen- President & CEO

Since the inception of the Kentucky Baptist Foundation in 1945 there have been those who chose the Cooperative Program as an object of their legacy gifts. For them it was the simplest and most efficient way to express their love for Christ and his mission in this world through the various missionary, educational and benevolent ministries of the Kentucky Baptist Convention and the Southern Baptist Convention.

Today, the earnings from the combined endowments for which the CP is a beneficiary represents the second largest source of CP giving through the KBC. Only one church gives more. The difference is CP endowment giving is perpetual.

Traditionally, the CP is supported primarily by the collective giving of the churches. However, there are ways individuals, not just churches, can support the CP directly through the Kentucky Baptist Foundation. Let me encourage you to consider prayerfully one or more of those ways. Cooperative Program Sunday is April 13, which provides a timely occasion for you to begin your consideration.

If your goal is to make a gift at death, then consider a bequest in your will or a beneficiary designation of life insurance or retirement assets. If your goal is to avoid capital gains on the transfer of real estate, then consider a real estate gift. If your goal is to avoid the potential double taxation at death of your retirement assets, then consider gifting those assets at death. If you goal is to make a simple gift now, then consider an outright gift of cash or appreciated securities. If your goal is to make a gift larger than you ever dreamed possible, consider a life insurance gift. If you desire flexibility in timing the decision as to what charities will benefit from your gifts versus the tax advantaged timing of your gifts, consider a donor advised fund. If your goal is to make a gift now, but receive in return a fixed income for life, consider a charitable gift annuity. If your goal is to make a gift now and create a hedge against inflation over the long term, then consider a charitable remainder unitrust. If your goal is to reduce the cost of passing assets to your heirs, then consider a charitable lead trust.

A legacy gift to the KBF for the perpetual benefit of the CP is an investment with eternal implications that will be working literally 24/7 to connect people all over the world to Jesus Christ. Please call us toll free to assist 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.

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