His Heart…Hands…Voice

By: Barry G. Allen- President & CEO

As Christ followers we are called individually to be part of the solution to fulfilling the Great Commission (Matthew 28:18-20).

Our churches, as the gathered people of God, also have the missions mandate to extend their witness and ministry beyond their own fellowships.

Acts 1:8 sets forth the scope of our mission task. Jesus said, “But you will receive power when the Holy Spirit comes on you; and you will be my witnesses in Jerusalem, and in all Judea and Samaria, and to the ends of the earth.” This assignment was not intended to be sequential except for the first-century New Testament church and apostles. Today, this Acts 1:8 assignment of our Lord is intended to be carried out constantly and simultaneously. And that’s exactly what we Kentucky Baptists collectively are doing through our local churches and associations, our Kentucky Baptist Convention and the Southern Baptist Convention. Cooperation is still the most effective means to fulfill the Great Commission of our Lord and to carry out His mission assignment.

Throughout the year we are called upon to focus prayerfully and financially on the different aspects of the Acts 1:8 missions task. The annual Christmas season focus is on international missions (to the ends of the earth) and the Lottie Moon Offering. The Apostle Paul reminded us in Romans 1:14 that we are debtors; because we know the Gospel we “owe” it to those who do not know. Even though sharing the Gospel with the whole world seems at first an intimidating thought, we have been commissioned by our Lord to do it.

How fortunate we Southern Baptists are to have 4,887 persons under appointment with the International Mission Board engaged to the ends of the earth with 763 people groups. How staggering it is to realize there are 3,629 unreached people groups not yet engaged. These are people beyond where most of us can ever go or see, but they are God’s children in need of what we have to offer.

So, extend His heart, hands and voice through your prayers and unprecedented current and deferred giving through the Lottie Moon Offering.

Simplify…Multiply…Dignify

By: Barry G. Allen- President & CEO

With all of life’s complexities with which we are bombarded daily, the idea of simplifying anything sounds refreshing, does it not? Even though we Christians know the reason for the season we still seem to get caught up in the complexities of shopping, cooking, entertaining and traveling and miss the full blessings of giving.

So, why not simplify your life, avoid some of the complexities of the holidays, do more for Christ and make sure your giving reflects the true spirit of Christmas.

And while you are at it, why not multiply your giving to make your gifts go further? If you are about to write checks to your church and other charitable organizations let me suggest you consider instead gifting appreciated stocks or mutual fund shares, if that is an option for you. By gifting appreciated assets you avoid the capital gains tax, and therefore, lower the cost of your gifts or multiply the value of what you give versus cash gifts.

In addition, why not consider establishing with the KBF a donor advised fund to which you can make cash gifts and appreciated stock gifts to take advantage of the tax deduction in 2011 but defer the distributions to your church and other charitable organizations to 2012 or later? This is another practical way to multiply your giving. Call Laurie Valentine or me toll-free for more information on this simple, but effective tax-advantaged giving option.

Finally, why not dignify your giving by considering a legacy gift that pays tribute to someone you love, or one that would perpetuate your own Christian witness beyond your life time? A legacy gift to the KBF to establish a permanent endowment for the perpetual benefit of your church and other charitable organizations near and dear to your heart would be a wonderful way to dignify your 2011 giving. You could start with a modest gift and make additional gifts in the future, including a bequest or beneficiary designation in your estate plan. Laurie and I are just a toll-free phone call away to assist you.

Tis the season to simplify, multiply and dignify.

Window of Opportunity Closing (Again)

By: Laurie Valentine- COO & Trust Counsel

Included in federal tax law changes enacted in December 2010 (the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act [“Act”]) was an extension of the Charitable IRA Rollover provisions first enacted in 2006. Those provisions allow certain IRA owners to use taxable IRA funds to make charitable gifts without negative tax consequences. The 2010 extension expires December 31, 2011.

Generally, IRA owners must report distributions out of their IRA as income. A donation of an IRA distribution to charity is a charitable contribution for income tax deduction purposes (if you itemize); however, the increase in income and restrictions on the amount of charitable gifts that may be deducted in a given year could result in the IRA withdrawal followed by charitable gift not being a “wash” for federal income tax purposes.

The Charitable IRA Rollover provisions permit a person who is 70 ½ or older to make tax-free gifts in any amount up to a total of $100,000 from a traditional or Roth IRA to qualified charities (“qualified charitable distributions”). The IRA owner is not entitled to a charitable income tax deduction for the qualified charitable distributions, but such distributions are not included in the IRA owner’s income.

The distributions must be made directly from your IRA to the qualified charitable organization. A distribution to the IRA owner/donor, followed by a gift to charity, does not receive the special treatment provided by the Act.

Distributions from 401(k), 403(b) or other types of retirement accounts are not eligible for this special treatment.

Your church and our KBC and SBC agencies and institutions are “qualified charitable organizations”. Private foundations and donor advised funds are not.

While qualified charitable IRA distributions are not included in the donor’s income for income tax purposes, they are treated as part of the donor’s required minimum distributions. Therefore, those 70 ½ and older who must take required minimum distributions from an IRA and plan to make contributions to charity should strongly consider taking advantage of the ability to use their IRA as the source of making those charitable gifts this year.

For those age 70 ½ with IRA assets, make sure you take a look out this “window of opportunity” before it closes on December 31, 2011.

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.

Refuge…Love…Hope…Healing

By: Barry G. Allen- President & CEO

   

Regretfully, there are thousands of children across the Commonwealth of Kentucky who are abused and neglected on a daily basis. They suffer 24/7 from physical, sexual and emotional abuse. We wish these tragic circumstances would go away, but they do not. In fact, they are escalating. There is evidence the Commonwealth leads the nation in the number of deaths directly related to abuse and neglect.

Fortunately, we Kentucky Baptists have a solution which includes providing these children a safe place to stay ( a refuge), in the care of people who love them and give them hope, which in turn results in healing and the opportunity to mature and live fulfilled lives as adults toward a brighter future.

Sunrise Children’s Services is the oldest Southern Baptist related children’s ministry dating back to its beginning in 1869 when the women of Louisville’s Walnut Street Baptist Church stepped out to do “more for Christ” and opened up a shelter for children left orphaned by the Civil War.

So many things have changed in the generations since then, including the kind of care most children need today. The days of orphanages are past, and we now face challenges best met through foster homes and residential programs. What hasn’t changed is the mandate for us Kentucky Baptists to provide solutions to children who continue to suffer from abuse and neglect. This is no easy task, and it can be accomplished best by cooperation. Indeed, we can do “more for Christ” together than we can alone.

How can you plug into being a part of this Christ-honoring solution? First, include President Bill Smithwick, the staff and the volunteer board members who give leadership to this vital ministry in your prayers. Second, be sure make a generous contribution through your church or directly to the Thanksgiving Offering which benefits this ministry. Third, call 855.334.2273 for information about becoming a foster parent. Finally, call Laurie Valentine or me about making Sunrise a part of your estate stewardship plan.

Guilty of what?!

By: Barry G. Allen- President & CEO

Why is it so few Christians typically include covetousness or greed as evil and harmful desires for which we need to confess and repent in the same way we include adultery or lust? Does not the Bible teach covetousness and greed are manifestations of sin?

In the parable of the fool in Luke 12:13-21 Jesus seized the opportunity to warn us of the dangers of covetousness and greed, which literally means the desire to have more - the constant craving for more. Covetousness and greed are dangerous things, and Jesus teaches us in this parable the reasons why. In verse 15 Jesus said “…Watch out! Be on your guard against all kinds of greed; a man’s life does not consist in the abundance of his possessions.” So, covetousness and greed blind us to the reality that there is more to life than things.

In the remainder of that parable Jesus tells the story of a rich farmer who spent his life accumulating things and made no preparation for eternity. The farmer’s philosophy was stated in verse 19, “…Take life easy; eat, drink and be merry.” Jesus called this person a fool. Verses 20-21 state, “But God said to him, ‘You fool! This very night your life will be demanded from you. Then who will get what you have prepared for yourself?’ This is how it will be with anyone who stores up things for himself but is not rich toward God.” Someone has said “greed is like drinking saltwater, the more you drink the thirstier you become.” So, covetousness and greed blind us to the truth about eternal things.

Jesus continued teaching his disciples in Luke 12:22-34 not to worry about tomorrow, “But seek his kingdom and these things will be given to you as well.” So, covetousness and greed make us anxious about life, rob us of the peace that comes from trusting God and blind us to the priority of our lives, which is to advance the Kingdom, not acquire wealth.

Therefore, let us confess and repent, and let us learn to exchange what we cannot keep for what we cannot lose. Amen?

Which “Gifts” to Charity Are Deductible?

By: Laurie W. Valentine- COO and Trust Counsel

Here is a quick review of the basic rules regarding the deductibility of gifts made to charity.

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 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. Even if the charity’s governing documents state the charity’s governing body will decide how all contributions will be used, a deduction will be denied if it is determined the charity lacked full control over a particular gift.

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”.

More for Christ Via Your Will

By: Barry G. Allen- President & CEO

Traditionally the month of January has been set aside by churches as “make your will” month. Since 60% of the population dies without a will, and it is estimated that 70% of the 40% who have a will do not have a currently updated will, the “make your will” month emphasis is a worthy one indeed.

Since the scriptures clearly reveal everything we possess, regardless of how much, is from God, and He has entrusted it to us to use wisely and for His purposes; and since how we plan our estates likely will be the single most significant act of stewardship we shall ever perform, it is, vitally important to use the best resources available to you in this process. The Kentucky Baptist Foundation is one of those resources, and specifically our estate stewardship consultation service. I encourage you to set aside some time between now and January prayerfully to consider a “more for Christ” provision in your estate plan. Perhaps you should consider a tithe or more of your estate to advance Christ’s Kingdom in the future through your church and other Christian ministries in which you are involved. Offering plate gifts alone will not be sufficient. A “more for Christ” provision in your estate plan offers you the opportunity to make a lasting difference for the cause of Christ beyond your lifetime. A “more for Christ” provision could be in the form of a bequest provision in your will or trust, or a beneficiary designation of retirement plan assets or a life insurance policy. You may be in a circumstance where it would be more desirable beneficial to you to go ahead now and make a “more for Christ” legacy gift rather than defer it through a provision at death. We stand ready to provide you information about all of the “more for Christ” giving ideas and their benefits.

Also, I encourage pastors and stewardship leaders to use January 2012 as “make your will month.” Let us assist you with ideas for bulletin inserts, websites and newsletter as well as our stewardship education seminars.

Give What You've Got: The Wootons

If a couple ever understood the truth of Jesus’ miracle in feeding the four thousand (Mark 8:1-13), it was Shirley and Bob Wooton. Furthermore, they didn’t just talk about what they would give to God if they had a million dollars because they knew God is not interested in what someone “would give if.” He’s interested in what a person or couple is giving right now with “what they’ve got,” modest as it may seem to some. The Kentucky Baptist Foundation is honored to have played a part in facilitating Bob and Shirley’s stewardship and understanding that Jesus will multiply what they gave. He calls us to do what we can, and then He’ll do what we can’t.

Shirley, who passed away in 2010, was born in Louisville and reared on her parents’ farm in Shepherdsville. Her dad also worked for the L&N Railroad, and her mother was a homemaker. Bob was born and reared in Hyden; his father was a schoolteacher and a coal miner, his mother was a homemaker. During high school, Bob’s algebra teacher advised him to become an engineer. So, in the spirit of the mountain culture Bob’s parents moved to Louisville so he could attend U of L’s Speed Scientific School, which he did following his graduation from Louisville’s Southern High School. Shirley’s parents moved to the same neighborhood, and she also graduated from Southern High. It was their mothers who introduced them, and after two years of dating they were married September 18, 1959 at Little Flock Baptist Church, Shirley’s home church. According to Bob, “it was an arranged marriage.”

Following Bob’s graduation from U of L’s Speed Scientific School, the couple moved to Dayton, Ohio, where Bob utilized his engineering skills in the military division of NCR. In 1971 his division transferred to St. Petersburg, Florida. In 1974 Bob joined IBM in Lexington, and they moved to Versailles. Versailles Baptist pastor Henry Johns became their pastor and dear friend. After retiring in 1991, they returned to Louisville. Cedar Creek Baptist Church is their church home.

During the Ohio years, Shirley was housewife and mother to their three children, who are now: Shirley Jo Trimble of Cullman, Alabama, John in Lexington, and Jennifer Krajewski of Indianapolis. Their two grandchildren are Robbie Trimble and Kaitlyn Wooton. Once back in Louisville, Shirley became a perpetual temporary assistant for the KBC Mission Board, the Western Recorder and the Foundation. She became part-time in the KBC Music Department from which she retired.

Before Shirley’s death the Wooton’s called upon Laurie Valentine, KBF trust counsel, and KBF CEO Barry Allen to assist them in carrying out the stewardship plan they had concluded the Lord had lain upon their hearts. Years before, Shirley’s parents had donated a parcel of their farm for use as a volunteer fire station, because their community needed a fire department. In the conveyance of title there was a provision that the property would be returned to their family if and when it ceased to be used as a fire station. That day came, and the property reverted to Shirley and her brother.

There was no question in Shirley and Bob’s minds they needed to tithe the value of her interest in the property. They had always been faithful in their giving, and realizing the reversion of this property was a special gift from God, they wanted the tithe of it to be used from something really special and enduring in the accomplishment of Christ’s mission. Over the years, the Wootons had faced some very serious medical challenges in their lives and the lives of their children. God never failed to provide what they needed to meet those challenges. By their own testimony, they are just plain, simple, modest people who have received countless blessings from the Lord, and wanted to demonstrate through this experience their love for Him and for those in need of Him.

In the Fall of 1997 Shirley and Bob established with the Kentucky Baptist Foundation the Robert M. and Shirley Wooton Endowment Fund for the perpetual benefit of the KBC’s Missionary Assistance Program, which provides salary and benefit supplements to directors of missions and mission pastors in Kentucky. Until Shirley began her work at the KBC, they knew very little about state missions work, but had an awareness of the needs of small churches from their small church pastor son-in-law, Dennis Trimble. Never before had they been in a position to contribute materially in such a way, but the Lord had provided, and their sense of stewardship said “we need to tithe its value.”

So, the fire station property has been given twice. Instead of focusing on what they did not have, and using what they did have, Shirley and Bob made a lasting difference in the lives of the multitudes who will touched by the Kentucky Baptist missionaries who will benefit from their generosity. It is also a wonderful memorial tribute to the life of Shirley. The question for the rest of us is, “will we give what we’ve got?”

God’s Economy

By: Barry G. Allen- President & CEO

         

With so much in the news every minute of the day about the global economy and the anxieties felt around the world as a result of the negative economic headwinds, I’ve been thinking about God’s economy. In fact, my current daily devotional plan includes prayerfully pondering God’s truth found in selective Old and New Testament passages which speak to the matter of God’s economy.

I believe the principles of God’s economy involve blessing, burden and balance. By burden I mean the sense of duty and responsibility not the sense of a heavy load to bear.

The book of Numbers recorded God’s distribution plan for the Promised Land when he told Moses to divide it according to the size and needs of the various tribes. This was in contrast to other kingdoms of that day near Canaan in which the distribution pattern was the concentration of land among the royal and aristocratic elites which resulted in the majority living in poverty. In the book of Acts there is the example of how the equitable distribution of resources became a defining characteristic of the early church.

Since we have been blessed by God, we are to be a blessing to others, which in turn brings additional blessings back to us. The apostle Paul described it this way in 2 Corinthians 9:11: “You will be made rich in every way so that you can be generous on every occasion, and through us your generosity will result in thanksgiving to God.” In God’s economy He equips – that is – He burdens some with more so they can bless others who have less.

Furthermore, in God’s economy giving does not in any way encourage or incentive luxury or laziness. On the contrary, there should be wisdom and a sense of balance in giving and receiving resources. Regardless of one’s financial station in life he or she has the proportionate burden – that is – the duty and responsibility to give and to share. Today we may have abundance; tomorrow we may be in want. Today we may have the privilege of giving; tomorrow we have the equal privilege of receiving.

Lord, help us apply daily in our lives the principles of God’s economy.

Give An Income Stream

By: Laurie Valentine-COO & Trust Counsel

Is your church in a building program? Would you like to fund your annual giving for missions, childcare ministries or other charitable causes for the next few years in a new and creative way?

If you answered “yes” to either of those questions and you would like to coordinate your charitable giving with a tax-saving way to transfer assets to your family, a charitable lead annuity trust is a giving vehicle to consider.

A charitable lead annuity trust (“CLAT”) is a giving plan that provides a fixed income stream to one or more charitable causes for a designated period of years. At the end of the trust term the trust remainder can either be returned to you (this is a “grantor lead trust”) or be distributed to your children and/or other family members (a “non-grantor lead trust”).

While a lifetime gift to a “non-grantor” CLAT does not entitle you to a charitable income tax deduction, it does provide a way to pass assets to your children or others at reduced gift and estate tax cost. Gift tax savings come from the fact the tax value of the future gift to your family is the present value of the remainder interest in the trust, not the full value of your gift to the trust. With careful coordination of the fixed amount being paid to the charitable beneficiaries and the trust term you can reduce the present value of the remainder gift significantly. Estate tax savings result from the removal of the asset, any subsequent appreciation and the future income it generates from your estate.

Example: John and Martha Brown set up a 7-year 6% CLAT funded with $100,000 of stock. The $6,000 per year income stream (6% x $100,000 gifted to the trust) will be divided equally between the building program at the Browns’ church, their Baptist college alma mater and international missions. Over the 7-year term the charities will receive a total of $42,000 ($14,000 to each). Assuming the trust assets earn an average annual return of 6.5%, there will be approximately $104,000 left to pass to their children at the end of the 7 years and, if the gift tax value of the future gift to their children is only $60,000, $44,000 of that value passes tax-free to the children.

Like A River

By; Barry G. Allen- President & CEO

The KBF is like a river that flows and grows as it connects with other streams, feeding and giving life to everything in its path. Inherent in its mission is to be a facilitator of life-changing legacies for Kingdom advancement. Regardless of how large or small your gift might be, we can help you maximize the impact and multiply the benefits to you, your family and to the Kingdom causes that are near and dear to your heart.

Just imagine for a moment the impact on Kingdom advancement that has resulted from the distributions of the investment earnings from the accounts established with the KBF by the faithful and generous gifts of hundreds of Kentucky Baptists across the past 66 years of the KBF’s existence. Most of these accounts are perpetual, and therefore, will continue to advance the Kingdom until Jesus comes again.

Since 1945 the KBF has distributed $142M for Kingdom advancement through the various causes specified by the donors. These funds are over and above offering plate giving. Interestingly enough, $86M were distributed in the last decade (2011), $41M in the decade ended 2001, $10M in the decade ended 1991, $3M in the decade ended 1981, $2M in the decade ended 1971 and $.5M in the decade ended 1961.  Wow! Hallelujah!

These funds have been used to connect people to Jesus Christ in your communities, throughout the Commonwealth of Kentucky, North America and to the ends of the earth. The ministries to and through which these funds have flowed like a river include local churches, associations, Campbellsville University, University of the Cumberlands, Georgetown College, Clear Creek Baptist Bible College, Oneida Baptist Institute, Mid-Continent University, Sunrise Children’s Services, Baptist Healthcare, Kentucky Baptist Assemblies, Kentucky WMU, Western Recorder, Kentucky Baptist Foundation, KBC Mission Board, Kentucky Ethics League, International Mission Board, North American Mission Board, Southern Seminary and numerous other Great Commission service ministries.

Call Laurie Valentine or me toll-free to discuss how we can help you to multiply the benefits of wise giving.

(502) 489-3533 or 1-866-489-3533 (Toll-free, Kentucky only)

Sending Capacity

By: Barry G. Allen- President & CEO 

I was struck by Saddleback pastor Rick Warren’s observation and challenge at this year’s Southern Baptist Pastor’s Conference about the way we Southern Baptists keep score on churches. He observed for the past 30 years “we have rewarded attendance.” However, in order to reach the world’s 3,800 remaining unengaged people groups with the gospel in the next decade, he contended we needed to reward “not attendance but reproduction, not size but sending capacity.” So his plea and challenge was for church planting. His method was for churches to plant and parent churches in the U.S. and among the unreached people groups. His conviction with which I wholeheartedly agree was “God blesses the unselfish church.” And, I would add God blesses the unselfish Christian.

What an opportunity we Kentucky Baptists have to expand our individual and collective “sending capacity” in response to the More for Christ emphasis. More for Christ means more of ourselves, more of our families, more for the lost, more for the needs of others and more for the nations. To me, More for Christ is about discipleship and a growing relationship with the living Lord and a declining relationship with the material world. It’s about becoming a more Kingdom-minded steward of whatever it is the Lord has entrusted to you to use for His purposes.

I am convinced we cannot expand out sending capacity sufficiently simply by writing checks and placing them and our currency in the offering plates on Sunday mornings. It requires us to steward both out of our incomes and also out of our non-cash assets – out of our estates. And, for most of us Christians how we plan our estates likely will be the single most important and significant act of financial stewardship we shall ever make.

As you prayerfully ponder how God is leading you to do More for Christ and expand your sending capacity, the KBF stands ready to assist you with private estate stewardship consultation to facilitate your life-changing legacy for Kingdom advancement. Please call Laurie Valentine or me toll-free. There is no charge or obligation for this service because it has been paid in advance by the Cooperative Program.

(502) 489-3533 or 1-866-489-3533 (Toll-free, Kentucky only)

Faithful Couple's Lasting Legacy

In June 1998, a friend of the Foundation connected the KBF to Fred and Eleanor Dorris with whom he had had a long personal relationship. They were his and his parent’s neighbors during his growing-up years, and fellow church members. Over time he became not only a trusted friend but also a trusted advisor.

The Dorrises had come to the place in their lives, age-wise and health-wise, where they needed to update their estate plans to reflect what they understood to be God’s purposes for the things of this world with which He had blessed and entrusted to them for continued use in His mission after they died.

What an inspiration it was to Laurie Valentine, KBF trust counsel, and CEO Barry Allen to meet and to assist them in putting in place what became their final plans. Working with them, their advisor, and their attorney, the necessary documents were executed by them in August 1998.

Eleanor died in 2003, 14 months after Fred; both were in their 90’s. How fortunate it was for them and their beneficiaries that they had completed and documented their plans long before they became incapacitated prior to their deaths.

What a legacy they left! What a difference for the cause of Christ they will continue to make beyond their lifetimes! After distributions to family, friends and various charities, the remainder came to the Foundation to fund the perpetual endowment, which bears their names, for the benefit of the ministries of their local church, a KBC-related institution, and an SBC-related institution. This represented the largest single bequest the Foundation had ever received.

Throughout their lives, they lived well below their means, and they believed financial independence and helping others were more important than displaying high social status. They discovered the truth of Jesus’ teaching about being “rich toward God” and that one’s life does not consist in the abundance of one’s possessions (Luke 12:13-21).

May the Lord add His blessings to the lives of the multitudes who in the unfolding future will be connected to Jesus Christ by this couple’s faithful generosity.

Testamentary Trusts-Good Estate Stewardship

By: Laurie Valentine-COO and Trust Counsel

Leaving an inheritance outright to a young or incapacitated beneficiary is not good estate stewardship.

An outright bequest (or life insurance or other beneficiary designation) to an under age 18 beneficiary will require a guardian to be appointed to manage the young beneficiary’s share of your estate until he/she reaches age 18 (even if there is a surviving natural parent). At 18, the young beneficiary will receive full ownership and control of the inheritance, no matter its size.

A “testamentary trust” may be a better alternative.

A “testamentary trust” is a provision in your Will under which you designate a third party to serve as the trustee/manager of a beneficiary’s share of your estate. A testamentary trust usually includes a direction for the trustee to distribute the trust’s income to or for the benefit of the beneficiary. The trustee can also be authorized to use principal for the beneficiary’s education, health and other needs, if the income from the trust and other resources are not sufficient.

A testamentary trust for a young beneficiary does not have to end at age 18. You designate in the testamentary trust provisions the age when the trust will terminate and the beneficiary will receive full ownership of his/her share. The full trust amount may be distributed at a single age; or you may want to use a “tiered” distribution----one-half at one age and the rest at a later age; or one-third each at three different ages.

Testamentary trusts may also be used to provide for an elderly or incapacitated beneficiary. The trust provision can direct an income stream (and possibly also principal) to or for the beneficiary for the rest of his/her life; with the remainder of the trust then distributed to other beneficiaries you name at the death of the income beneficiary.

Ease young beneficiaries into the management of inherited wealth and eliminate the burdens asset management might place on an elderly beneficiary by including testamentary trust provisions in your estate plan.

“Kingwork”

By: Barry G. Allen- President & CEO

Author Eugene Peterson calls true work “kingwork” to explain how our work is an extension of and participation in God’s work, and therefore, is imbued with significance and dignity. He uses the word to call attention to the essential dignity of true work and to distinguish true work from false work which is spurious, destroys and deceives. He uses the word to emphasize that our work is of a kind with God’s work. All real and genuine work is subsumed under kingwork.

Another author, Ronald Sider, considers work as a way to cooperate in the creativity of the Creator. He suggests work is the way we meet our basic needs and express our basic nature as persons made in the image of God who is Creator. Obviously we cannot create out of nothing, but we are created to use our God-given abilities to cultivate the earth, create new things and expand human possibilities. Jesus’ parable of the talents reminds us of the sharp rebuke of those who fail to use their abilities to multiply their resources.

On this Labor Day 2011 let us be reminded once again of our work as co-creation with the Creator God. Prayerfully ponder the fullness of Christ affirmed in Colossians 1:15-23. The passage includes 15 tremendous assertions referred to as “the great Christology,” but the Apostle Paul also wrote these inspired words for very practical purposes, namely, to instruct a questioning faith and to enrich daily Christian life.

Paul’s theme is the preeminence of Christ (a) in relation to God – “the image of the invisible God;” (b) in relation to the universe – “first-born of all creation…all things were created through him and for him;” (c) in relation to the church – “the head of the body;” and (d) in relation to experience – “he has now reconciled in his body of flesh by death.”

Only in Christ does creation have any meaning. Christ continues His creative work today. A vital aspect of our Christian stewardship responsibility is to participate with Christ in restoring and recreating by means of our daily labor, our “kingwork.”

The Stewardship of Work

By: Barry G. Allen- President and CEO

As we approach Labor Day 2011 let those of us who have jobs be ever more grateful and ever more mindful and helpful to those who do not.

And, on this Labor Day 2011 I want to call upon us Christians to enlarge our perspective on the work we do to make a living. Regardless of what we do as work it should be considered as more than just making a living but also making a life. It should be seen as a way to invest our lives. Each one of us is on a mission to live in a redemptive way the time God has given us. In our workplace environments we are stewards of our time as well as stewards of the opportunities to serve the Lord with purpose, love and passion. By finding mission and purpose in our jobs, we are able to endure any circumstance that may arise, and that ability to endure is what gives dignity to the work.

One of my favorite quotes was spoken by Winton Churchill: “We make a living by what we get, but we make a life by what we give.” I encourage you to incorporate that spirit into whatever job you have and from which you make a living.

Also, this Labor Day is a good time to reflect upon the mind boggling extent of creation, the complexity of God’s work and the awesome responsibility which is ours as God’s gift from the perspective of the glorious Davidic hymn of praise in Psalm 8. The Psalm begins with “O Lord, our Lord, how majestic is your name in all the earth!” Then the question is asked “what is man that you are mindful of him, the son of man that you care for him?” And the Psalmist declared “you made him ruler over the works of your hands; you put everything under his feet: all flocks and herds, and the beast of the field, the birds of the air, and the fish of the sea….” Wow, what a stewardship responsibility!

A Mother's Love & Her Son's Heart For Serving Jesus Christ

Flora Dalton, a retired nurse, established with the Kentucky Baptist Foundation the Flora Elizabeth Dalton & Joel Dean Wilson Memorial Fund as a tribute to her late son, who died of cancer July 2005 at age 64. This endowment will serve as a perpetual legacy to Flora’s love for Christ and His mission in this world, to her love for her son and his “heart for serving Jesus Christ.”

According to Flora, who died in February 2009, Joel’s life of service could be summed up with these three Christian service words: student, servant, and steward. Growing up in a suburb of Cincinnati, Ohio Joel walked to church alone because his parents had to work to provide for the family. In response to God’s call at age 15, Joel began his preparation for ministry while still in high school. Later he graduated from Bob Jones University and Arlington Baptist Seminary. He was ordained to the gospel ministry by Grace Baptist Church in 1971.

Throughout his adult life, Joel utilized with a passion the gifts with which God had endowed him in a variety of full-time and bi-vocational ministries, including music, pastoral, Christian education, coaching and church planting. He was involved in starting new churches and Christian schools in Alabama, Florida, Kentucky and South Carolina. His life of service extended beyond churches into the communities where he lived. For 19 years, through Louisville, Kentucky’s Metro Housing Authority’s Iroquois Homes, he sought to improve the living conditions, provide a safe environment, secure job training, start a GED program and continuing education classes and sports leagues for low income residents. He served as a Legislative District Chairman for the Republican Party and a past president of the Optimist Club.

What motivated Joel to a life of self sacrifice in the cause of the gospel were not the many accolades he received but the heavenly treasures he laid up as a firm foundation for the coming age so he could take hold of the life that is truly life.

The KBF is honored to be the fiduciary in perpetuating the Christian legacies of this mother and son through these important ministries: Oneida Baptist Institute (Kentucky), Clear Creek Baptist Bible College (Kentucky), St. Jude’s Children Research Hospital (Tennessee) and Camp Kudzu (Georgia).

Barry Allen first met Flora Dalton of Kennesaw, Georgia by telephone. Her nephew, Jim Cordell, who had retired as the KBC Church Music Department Director, referred her to the KBF to assist in the establishment of an endowment fund to honor the legacy of her son, Joel. Five months later her daughter-in-law, Mary Wilson, a member of Louisville’s Shawnee Baptist Church, brought her to the KBF office for a visit.

During the five months between the phone call and the visit, Laurie Valentine, KBF trust counsel, and President Barry Allen worked with Flora and her financial and estate planning adviser to establish the endowment fund. She was fulfilling a stewardship plan she and Joel had intended to fulfill together before he died. In addition to the gift of appreciated stock, which she used to establish the fund, she made periodic additional gifts during her lifetime and she designated the endowment as the beneficiary of a portion of her estate at her death. She also gave the proceeds from the sale of the car, which would have been her son’s had he lived until his planned retirement date. In the note she sent which accompanied the check, she stated, “I thank God that He has enabled me to do all the things I have done.”

What a joy it is to see how God used this wonderful Christian businesswoman, mother, grandmother and mother-in-law in service to Him.

Chain Reaction

By: Barry G. Allen-President & CEO 

How fortunate we Kentucky Baptists are to be engaged in connecting women, men, girls and boys to Jesus Christ 24/7 in local communities, throughout the state, the United States and around the world through our larger family of Great Commission service ministries. Our Baptist family includes our churches, associations, mission boards, educational institutions, children’s ministries, youth camps, stewardship services, news journals, human need ministries, collegiate ministries, healing ministries and missions support services. Cooperation is still Kentucky Baptists’ way to advance the Kingdom of Jesus Christ at home and beyond.

At different times throughout the year, we give special focus prayerfully and financially to specific aspects of our cooperative missionary, educational and benevolent ministries. Our methodology includes a “week of prayer” and the “collection of a special offering” over and above our on-going giving. We have weeks of prayer and offerings for international missions, North American missions, state missions, associational missions and other selective ministries.

It’s time now to focus on state missions and the collection of the Eliza Broadus Offering. The suggested dates for the “week of prayer and offering” are September 11 – 18. This year’s theme for our focus is “chain reaction,” based upon John 4, Jesus’ encounter with the Samaritan woman at the well, and especially John 4:39a, which records her testimony that resulted in “a chain reaction” among her fellow Samaritans.

I’m praying every pastor and mission leader of every Kentucky Baptist church will contact the Kentucky WMU office now to request the planning guide for use by their churches. Call today toll free 866.489.3534. State missions has taken on a new international dynamic as the whole world has come to Kentucky. As a result, we must adjust accordingly our thinking, planning, praying, going and giving.

Like the Samaritan woman, many Kentuckians are waiting to receive the living water only Jesus can provide. Let’s start a chain reaction where we live by encountering those who are without Christ and telling them where to find the Living Water.

Advancing the Kingdom Through Legacy Giving

By: Laurie Valentine- COO & Trust Counsel

Your church, association and the Kentucky Baptist Convention and its agencies and institutions have a wide variety of important ministries that need financial support. Some may need funding to launch them into reality while others could use the support to continue or expand an existing program or ministry. The methods by which you may support these important causes through legacy giving (giving out of your assets, rather than your income) are also wide-ranging.

An outright gift of cash, appreciated securities or real estate is probably the most common, and simplest, way to make gifts during your lifetime.

Other methods of lifetime giving, such as charitable gift annuities and charitable remainder trusts, allow you to set up a future benefit to one or more Baptist causes while retaining an annual income for your lifetime or a term of years.

There are also a variety of methods you can arrange now to benefit the causes of your choice at your death. The most common is a bequest in your Will or Living Trust. Another possibility is to name a Baptist cause as the beneficiary of some portion of your retirement plan survivor benefit, IRA or a life insurance policy no longer needed for family security.

You can designate your gift be used for a specific program or ministry of the benefiting organization or you can allow the organization to choose how to use your gift. You may also want to limit the organization to using only the earnings off what you give (this type of arrangement is called an “endowment fund”).

Gifts may be made directly to the benefiting organization or may be given to a third party, such as the Kentucky Baptist Foundation, to manage for the designated beneficiary cause or causes.

Whether you wish to make gifts during your lifetime or at death, there are a variety of ways to by which you can advance the Kingdom by including a legacy gift in your estate plan.

Parents Influence

By: Barry G. Allen- President & CEO

Did you read the article in the July 22-24 edition of “USA Weekend” titled “you don’t have to be rich?” What testimonies billionaire couple Bill and Melinda Gates gave in an interview about how every American can give regardless of one’ financial station in life.

As you most likely know, Bill Gates dedicated his life to revolutionizing technology and became the richest man in the world. Then, he decided to give half his fortune away to improve education and combat poverty and disease. Now, the Microsoft co-founder and his wife have a new mission in life, namely, to encourage others, rich and otherwise, to pitch in, too.

Melinda testified “the more you get engaged and the more you learn about giving back, the more you want to do.” She advised we “take some small step to give something of yourself and see where it leads you.”

What really grabbed me was their testimony about why they do what they do. When asked what motivated them to help on such an astonishing scale, both Bill and Melinda had the same reply: “their parents.” Bill stated “I think the easiest way to develop strong beliefs is when you see your parents not only espousing those beliefs but acting on them…Both of us grew up in families big on giving back.” Melinda said “her family also emphasized service to others…That’s why some find it hard to believe this came so naturally to us to give back…but when you grow up in families like that, of course we’re going to…that’s where we come from.”

I, too, had Christian parents who began teaching me at an early age, and holding me accountable, about the importance and the role of Christian financial stewardship in my relationship to Christ and to other human beings. Most everything I know and practice in the Christian discipline of financial stewardship can be traced to my parents’ example. The Bible was their source, and God’s Holy Spirit was their strength and guide.

Oh, God, give us Christian parents who model biblical stewardship for their children!

Mary Pat Price: A Kingdom-Minded Steward

Mary Pat Price was known to Baptists around the world as a kingdom-minded steward. She demonstrated in a variety of ways with her time, talents and treasures her love for Christ and His mission in this world, and her love for family.

She was born in Shelby County, Kentucky, three miles outside Shelbyville “not in a hospital.” Upon graduation from Bagdad High School, she attended Bethel Junior College and graduated from the University of Kentucky in 1943. Her ministry assignments were as Youth Director at the First Baptist Church Clarksville, Tennessee, and then at First Baptist Church Frankfort, Kentucky.

While attending the 1957 state WMU convention at Jonathan Creek Baptist Assembly, she met J. Brandon Price, a young lawyer who was in attendance on youth night. Actually, a mutual friend prearranged their meeting. They married soon thereafter. She and the late Judge Price had two sons, J. B. and Kent. J. B. is a computer analyst, and Kent is an attorney. She has two grandchildren.

As a long-time resident of Paducah, Kentucky and a long-time member of First Baptist Church, Mary Pat’s service to Christ through her church and community is legendary. The Kentucky Baptist Foundation had the good fortune of having the benefit of her service for two terms on its Board of Directors.

On March 26th, 2010, God welcomed Mary Pat Home. While we will miss her, her lagacy will live forever.

Over the years, Mary Pat utilized all of the services of the Kentucky Baptist Foundation, including our private estate and charitable gift planning consultation service with trust counsel Laurie Valentine. She made regular and on-going cash contributions to endowment funds that provide perpetual support for ministries near and dear to her heart. She purchased life insurance policies on the lives of her two sons the death proceeds of which will fund two perpetual endowments in their names. Each endowment will provide support to five different ministries. And, finally, she and her sister, Jane Kent, each established a charitable remainder trust with the gift of their Shelby County family farmland. In addition to significant tax benefits Mary Pat received an income benefit during her lifetime. At her death the trust assets funded an endowment for her perpetual support of 8 more ministries.

Collectively, Mary Pat set in place a kingdom-minded stewardship plan that will perpetuate her Christian legacy and provide on-going financial support, until Jesus comes again, through 17 ministries from Paducah to the ends of the earth.

The Lord blessed us with the life of Mary Pat Price. May He add His blessings to the multitudes that will benefit from her faithful stewardship and may others emulate her example.

IRS Charitable Deduction Tips

By: Laurie Valentine- COO & Trust Counsel

To assure your charitable gifts are deductible, following these eight tips from the IRS:

1) Give to a qualified organization. IRS Publication 526, Charitable Contributions, tells you what constitutes a “qualified organization”. Contributions earmarked for a specific individual or to a political organization or candidate are not deductible.

2) Itemize your deductions on Schedule A of IRS Form 1040.

3) You may only deduct the amount by which your contribution exceeds the market value of any benefit you receive for making the gift such as merchandise, ball game tickets or other goods and services.

4) Stock and other non-cash property contributions are generally valued at fair market value. Fair market value is the price at which property would change hands between a willing buyer and willing seller, neither having to buy or sell and both having reasonable knowledge of all relevant facts.

5) Clothing and household items must be in good or better condition. Special rules apply to vehicle donations.

6) You must maintain a bank record, payroll deduction records or written communication from the organization containing its name, date of your gift and the amount for all contributions of cash, check or other monetary gifts.

7) If your contribution of cash or property is $250 or more, the organization’s gift acknowledgement must also state whether it provided any goods or services in exchange for your gift and the value of what you received. If your contribution is over $500 complete and attach IRS Form 8283, Noncash Charitable Contributions, to your return.

8) If the property you are giving is valued at more than $5,000 you must get a qualified appraisal and complete Section B of IRS Form 8283.

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.

Here Today, Gone Tomorrow

By: Barry G. Allen- President & CEO

I have discovered over the years most Christians have an honest ambivalence toward money. A proper attitude of money, wealth, possessions, things (call it what you like) is a universal struggle regardless of one’s financial station in life. Author Philip Yancey summed up his ambivalence this way: “I feel pulled in opposite directions over the money issue. I want to sell all I own, join a Christian commune, and live out my days in intentional poverty. At other times, I want to rid myself of guilt and enjoy the fruits of our nation’s prosperity. Mostly, I wish I did not have to think about money at all.”

In Psalm 49 the psalmist reflected upon the wealth of the world and provides the answer to the question of how we should regard wealth regardless of the level of it God has entrusted to us. Notice the psalmist addresses himself to “all peoples,” ordinary folks, blue bloods, rich and destitute alike. He reminds us wealth so often can be here today and gone tomorrow, thus, a slippery foothold. After making the point that death is inevitable and the wealth of the world is of temporal value, he states in verse 15 his conviction that what he cannot do for himself, what the world’s wealth cannot buy, God will do for him. Only God can provide us with security; therefore, our confidence is placed best in Him not wealth. What a testimony! Then in verse 16 he advises us about priorities: “Do not be overawed when a man grows rich, when the splendor of his house increases; for he will take nothing with him when he dies….” And then he states this chilling declaration in verse 20: “A man who has riches without understanding is like the beasts that perish.”

Let us, like the psalmist, advocate the proper attitude toward wealth. It is not to be despised, and it cannot be ignored; and it is both foolish and dangerous to put one’s trust in it. Jesus reiterated this truth repeatedly and with greater clarity (Lk 12:13-21).

Love is Something You Do- Barbara and Donnie Jett

The Kentucky Baptist Foundation was priveledged to work with Barbara and Donnie Jett of Paducah, Kentucky in putting into place a plan that would perpetuate their legacy of love through their church and Sunrise Children’s Services until Jesus comes again. Barbara is now deceased, but that plan will forever remind others of all the ways across the years she and Donnie have demonstrated their love for Christ, their children and grandchildren, their church, the children in the care of Sunrise Children’s Services, and their community.

Barbara and Donnie met through the youth and choir ministries of their McCracken County, Kentucky church. They were married July 6, 1951. The ceremony took place at her house so her father could be present; he was incapacitated by a stroke. Donnie retired from TVA after 28 years, but he also has been a farmer for most of his adult life. They have two married sons: Ronnie and wife, Pam, Larry and wife, Connie, and three grandchildren.

The Jetts are renowned in their community, church and the Kentucky Baptist Convention. Barbara was a leader in Paducah’s Red Cross and the Western Baptist Hospital Auxiliary. Donnie has provided leadership through the PTA and the volunteer fire department. They both taught a Sunday School class at Lone Oak FBC for more than 30 years. Barbara was a leader in the Woman’s Missionary Union and the prayer ministry; Donnie has served through the choir, Royal Ambassador leader, deacon, moderator, treasurer, and made numerous international mission trips.

Their deep love for children manifested itself in a life-long involvement with Sunrise Children’s Services, formerly Kentucky Baptist Homes for Children. Sunrise President Bill Smithwick stated, “Barbara and Donnie have not only supported this ministry to at-risk children with their financial resources, they have invested their lives in children."

They accomplished their giving objectives by donating two separate parcels of appreciated real estate into two charitable trusts for which the Foundation is the trustee. One trust is a charitable remainder unitrust (CRUT) from which they received an income stream jointly while both were living, and from which Donnie will receive an income stream for the rest of his life. At Donnie’s death, the remainder of the CRUT will be used to establish an endowment that will provide a perpetual stream of income to their church for missions, facilities and children’s ministry. The other trust is a term of years charitable remainder annuity trust (CRAT), that is provideing financial assistance for their grandchildren’s education. At the end of the CRAT term, a portion of the remainder will be added to an existing scholarship fund at their church, and a portion will be used to establish an endowment for the perpetual benefit of the mission of Sunrise Children’s Services.

In addition to experiencing the joy of knowing they will be making a lasting difference in this world through these ministries, the Jetts also received the following current benefits : a charitable income tax deduction , no capital gains tax liability when the trusts sold the real estate and their real estate was converted into income producing streams for themselves and their grandchildren.

Donnie stated, “we realized we were only stewards of what God had blessed us with, and we wanted to share it with our family, church and Sunrise Children’s Services. The Foundation was very thorough in assisting us in accomplishing our wishes.”

Thank God for the life of Barbara and may the Lord continue to bless Donnie as he continues to show the rest of us that “love is something you do.” And, may we emulate their example.

Biblical Giving Pattern

By: Barry G. Allen- President & CEO

I am indebted first to my parents then to my childhood pastor, church training leaders and Sunday school teachers for most of what I know and practice in financial stewardship. But it was my parents primarily who modeled financial stewardship for me. Here’s the biblical pattern they taught me.

First, be a priority giver. “Bring the best of the firstfruits” (Ex. 34:26). Second, be a proportionate giver with the tithe as the floor, not the ceiling, of my giving. “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” (Malachi 3:10). “The gift is acceptable according to what one has” (2 Cor 8:12). Third, be a premeditated giver. “Each man should give what he has decided in his heart to give” (2 Cor 9:7). Be a periodic giver. “On the first day of the week, each one of you should set aside a sum of money” (1 Cor 16:2). Fourth, be a progressing giver. “But Zacchaeus stood up and said … Look, Lord! Here and now I give half of my possessions to the poor ….” (Lk 19:8). Fifth, be a pleasurable giver. “…for God loves a cheerful giver” (2 Cor 9:7). Sixth, be a perpetual giver. “By faith Abel offered God a better sacrifice than Cain did. By faith he was commended as a righteous man, when God spoke well of his offerings. And by faith he still speaks, even though he is dead” (Hebrews 11:4).

Across the years I have proven both the reasons and the promises Malachi, Jesus and Paul made to the people of God about giving. I urge you to do the same. To the extent we in the Kentucky Baptist Foundation can be of assistance in facilitating your perpetual giving, please give us that privilege.

Maximize Your Legacy Giving

By: Laurie Valentine- COO and 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 causes 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 http://www.give.org/ (Better Business Bureau’s database on charities that solicit nationally with links to local BBB sites); www2.guidestar.org; and http://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 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 causes will benefit from your gift until later years.

* Increasing your gifts to charity in years in which you will have the most income---the amount of income tax savings depends on your tax bracket; the higher your tax bracket, the more tax savings from charitable gifts if you can itemize deductions.

*Maximize your income by:

* Setting up a “life income” gift such as a charitable gift annuity or charitable remainder trust. Life 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.

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.

Best Kept Secret

By: Barry G. Allen- President & CEO

     At the May 10 session of the KBC Mission Board meeting Convention President Floyd Paris observed “the Kentucky Baptist Foundation is probably Kentucky Baptists’ best kept secret.” He continued by bearing testimony and giving examples of how the KBF had facilitated the estate stewardship of some of his church members. Then he encouraged all of the Mission Board members, in the spirit of the More for Christ emphasis, to utilize the KBF services, especially the stewardship education seminars we conduct in churches and with senior adult groups, and the private estate planning consultation service for them and their fellow church members. What a joy it was to get that kind of affirmation and encouragement from our Convention President, and, in the presence of that important leadership group! Needless to say, I was sincerely gratified.

     Since 1945 your Kentucky Baptist Foundation has remained steadfast and solid for Kingdom advancement. What distinguishes the KBF from other foundations is the emphasis on Kingdom advancement. We seek always to bring the highest business and Christian standards and methods as a fiduciary of funds and as a facilitator of life-changing legacies for Kingdom advancement.

     We believe God is the creator and owner of all things, and we are called to be His managers (stewards). How we plan our estates likely will be the single most significant act of financial stewardship we shall ever perform. And, through estate stewardship, each and every one of us, regardless of our financial stations in life, can do “more for Christ.”

     So, now the secret is out! What will be your response? There is no cost or obligation for a private, confidential estate planning consultation session by telephone or in person. Neither is there any cost for us to conduct a seminar in your church or senior adult group. We cover such topics, as estate stewardship and incapacity planning, ways to make charitable gifts other than cash, the truth about probate and living trusts and long term care planning.

     Call us toll free to arrange a visit or visit our website for more information. (502) 489-3533 or 1-866-489-3533 (Toll-free, Kentucky only)

	http://www.kybaptistfoundation.org/

Advance Directive- Memorial Gifts

By: Barry G. Allen- President & CEO

When you die, to what charity(s) do you want your friends and family to send gifts in your memory? Perhaps you are like most people who do not give this any advance thought. As a result, that decision is left to family or other legal representatives, who may not know what your wishes were. Because you did not make your wishes known in advance, those charitable causes near and dear to your heart may not be the ones your family or others choose. What a missed opportunity for you and for those charitable organizations!

Interestingly enough, more people understand the need for advance directives and the right to make informed decisions when it comes to medical care and life prolonging treatment. The most common advance directives are a living will, healthcare surrogate designation, durable power of attorney, mental treatment directive and organ donation. Just as the decision to execute one or more of those types of advance directives is a very important matter, and one of personal choice, so is the decision about directing memorial gifts.

On this Memorial Day week I want to encourage you to consider what charities, including your church, you would want to be the beneficiary of gifts in your memory, and to make those known orally and in writing to the one(s) who will be handling your affairs at death.

Furthermore, I want to encourage you to consider using the KBF to facilitate your desires regarding memorial gifts. One idea is for you to establish now a permanent endowment fund that would provide income in perpetuity to the charities you want to be the beneficiary of memorial gifts. An endowment can be established with a modest gift of cash or appreciated securities or real estate. You and others can continue to make periodic contributions during your lifetime to grow the fund. Then at death, you could have a bequest in your estate plan to add to the fund along with the memorial gifts that will come from family and friends as a result of your advance directive.

Call Laurie Valentine or me at (502) 489-3533 or 1-866-489-3533 (Toll-free, Kentucky only)
for more information about how we can assist you.

The Browns: Scholarship Beneficiaries

Although Karen and Dudley Brown of Frankfort knew they were having triplets, they thought all were boys until Torie followed the birth of her brothers Dustin and J.W. at Lexington’s Central Baptist Hospital. Now the triplets have all graduated from Georgetown College. Torie graduated cum laude; majoring in psychology. Dustin and J.W. were business majors.

Having reared these triplets and two older sons, Mike and Todd, Karen and Dudley never dreamed the triplets would have been able to attend a private, Christian school. They always wanted them to receive a liberal arts education in a Christian setting, but did not think it would be financial feasible until Kojo Poku, Georgetown’s admission’s counselor, enlightened them about the financial aid opportunities from Georgetown and the Kentucky Baptist Foundation. The combination of scholarships and full-time jobs bridged the financial gap for the Browns. For Karen and Dudley, the Kentucky Baptist Foundation scholarships were an answer to prayer. They felt fortunate and blessed to have the triplets educated at Georgetown College, which molded them into well-rounded individuals prepared to go into the world and be successful in all aspects of life.

Georgetown College staffer Kay Blevins had this to say about the Brown triplets: “Kudos to their parents, who simultaneously raised three very caring ambitious people who identify themselves as triplets but are very unique in their own individuality.”

The Kentucky Baptist Foundation is pleased to have made an investment in the Brown triplets upon the recommendation of their pastor, Wallace Kent of Crestwood Baptist Church in Frankfort. We congratulate them on their many accomplishments, recognitions and awards at Georgetown College and wish them well in following God’s call in their lives.

Each year, the Kentucky Baptist Foundation awards approximately $200,000 in scholarships to Kentucky Baptist students who attend Georgetown College, Campbellsville University and the University of the Cumberlands. This is possible because of the generosity of people like the late Francis and Ruth Moore of Lexington, whose love for their Lord and appreciation of a Christian values-based education led them to establish, via a bequest in their Wills, the Francis and Ruth Moore Scholarship Fund.

Georgetown College President Bill Crouch said, “As the first Baptist college west of the Allegheny Mountains, we are extremely grateful for the important role played by Kentucky Baptists and the Kentucky Baptist Foundation in the life and ministry of Georgetown College. We take seriously our responsibility to provide a setting where Torie, J.W., and Dustin, and all of our students will be nurtured, strengthened and challenged as they seek God’s plan and purpose for their lives. The Kentucky Baptist Foundation serves as a living testimony of the importance of Christian stewardship and to the indescribable blessing of investing in tomorrow’s Christian leaders today…”

Call Laurie Valentine or Barry Allen toll-free for assistance in developing a stewardship plan and experiencing the joy of investing in tomorrow’s Christian leaders.

Bill & Kay Mackey Legacy

By: Barry G. Allen- President & CEO

            Bill Mackey is the fourth KBC executive leader with whom I have had the privilege of serving these past 40 years.  And in the spirit of Mordecai’s profession of divine providence about Queen Esther, I can profess each of these godly leaders responded to the call to lead Kentucky Baptists “for such a time as this.”  As Bill retires May 31, having been the KBC executive director since February 1, 1998, the KBF is honored to feature and pay tribute to Bill and Kay in the summer edition of our newsletter, “Living Legacy.” You can access it at www.kentuckybaptistfoundation.blogspot.com.

            I have not known anyone who has demonstrated a greater passion than Bill Mackey for strengthening local churches and expanding their visions of world evangelization – and – their commitments to the Cooperative Program as the best way to connect all people to Jesus Christ.  As a fellow Kentucky Baptist and KBC related entity leader, I say “thank you, Bill, and job well done!”

            Bill and Kay, high school sweethearts from Lancaster County, SC, married in 1963.  Across the years these two Great Commission Christians have said as much, if not more, by their lives as they have said by their lips.  And now, they are leaving a lasting legacy of their love for Christ and His mission in this world and their confidence in the Cooperative Program as the most effective way to facilitate the accomplishment of the Great Commission by establishing with the KBF the Bill and Kay Mackey Endowment Fund for the Cooperative Program.  You can express your appreciation, admiration and affection for Bill and Kay and their leadership by making a contribution in any amount to this endowment fund.  You can send a check payable to the KBF designated for this fund to: P.O. Box 436389, Louisville, KY 40253.  For gifts of appreciated assets, please call Laurie Valentine or me.

            Thank you, Bill and Kay, for your conviction, your confidence and your witness.  May we all emulate your example!