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What is an Endowment?
An endowment is an investment that provides endless
support to charitable causes. It’s an investment in the future … the
future of the community. It’s a gift … a promise without end, made by
you to your children and grandchildren in support of your community.
Endowments are made possible by you … those who have lived and embraced
all that our region has had, will have and can have.
Endowments are permanent. They are funds with the
requirement that the principal is never spent. The balance in these funds
is invested, earning income that is then spent to support charitable works
in perpetuity.
A Designated Endowment is a gift
that provides a permanent source of support to a nonprofit organization
selected by the donor. Is there a nonprofit organization whose
charitable work is your passion? You can endow your favorite nonprofit
organization through a designated endowment.
An Endowment is a
Gift of Hope.
Endowments are a source of permanent support for causes
that make our community an extraordinary place to live, work and play. To
learn how you can invest in The Prosperity Christian Resource and
Community Housing Development, Inc.'s future, contact Gwendolyn Y. Foster
at (336) 342-5514 to set up an appointment.
Did You Know…
- That making a gift of stock to "The Prosperity Center" that is
valued at $10,000 qualifies you for an income tax deduction of
$10,000! and...If you purchased the stock more than 1 year ago for
$5,000, you pay no capital gains tax on the $5,000 appreciation!
- That giving us a paid-up, no longer needed
insurance policy will merit an income tax charitable deduction!
- That there are ways to make a gift to our
organization, qualify for a charitable tax deduction, bypass capital
gains taxes and receive income in return!
- That you can give your home to receive a
tax deduction and continue to live in your home!
- That gifts made to "The Prosperity Center" in your will or living
trust are estate tax free!
- That transferring the assets in your
qualified retirement plan to family members other than your spouse may
be subject to taxes as high as 85%! but...Making "The Prosperity
Center" the successor
beneficiary of you and your spouse insures that any remaining assets
will have full value for our programs!
Ways to Give
These gifts not only provide benefits to The Prosperity
Christian Resource and Community Housing Development Center, Inc., but to
you as well. In many instances you not only have the satisfaction
of supporting the services of "The Prosperity Center", but you also qualify
for tax benefits.
Cash/Check
Your gift enables "The Prosperity Center" to continue its work in our
community. It is fully deductible for income tax purposes.
Life Insurance
Make "The Prosperity Center" the owner and beneficiary of your old policy
or a new one. If annual premiums are due, make gifts to "The Prosperity
Center" in the amount of the premium and qualify for an income tax
deduction.
Charitable Trusts
Income to You:
Making a gift to a Charitable Remainder Trust or a Pooled Income Fund
returns income to you in addition to income and estate tax benefits and
bypasses capital gains taxation. The income you receive can be for your
lifetime or for a period of years. In some instances, you may choose the
amount of income you will receive.
Income to Charity:
Transferring assets to family members is subject to gift and estate
taxes, perhaps as much as 55%. Through a Charitable Lead Trust you can
reduce, even eliminate those taxes. In this vehicle you select an annual
amount to be distributed to The Prosperity Center. You also choose the
number of years for the distributions. After the selected term, the assets
in the trust pass to your family at substantially reduced taxes.
Retained Life Estate
A significant part of most North Carolinians’ estate is their home.
You can surrender ownership of your home to "The Prosperity
Center",
continue to enjoy all the benefits of staying in your present surroundings
for your lifetime, and receive tax benefits.
Stock
Giving appreciated stock returns several benefits to a donor. The gift
amount is the value of the stock on the date it is given, not the purchase
amount. Additionally, no tax is due on the capital gains
Real Estate
Similar to gifts of appreciated stock, the gift value of contributions
of real estate is the fair market value of the property at the time of the
gift—not the original purchase price - and no taxes will be due on the
appreciated value of the property.
Qualified Retirement Assets
Transferring remaining assets in qualified retirement plans to any
family member other than one’s spouse results in taxes that may exceed
80 percent. Naming "The Prosperity Center" as the successor beneficiary of
your spouse allows you both to have use of the assets in your lifetimes
and transfers the full value of any remaining assets to support programs
at The Prosperity Center.
Gifts by Will or Trust Agreement
A donor can make a gift of cash or property by naming the charity as a
beneficiary in his or her will or trust. This technique is often used to
reduce estate tax on death.
Here is some sample language for a bequest by Will to a public charity.
Please consult with your attorney and tax advisor before incorporating this language into
your Will. For language designating a specific program, please contact The
Prosperity Center at the telephone number listed below.
__________________________________________________________________________________________________________________
Sample Language For a Bequest By Will to a Public
Charity
"I give, devise, and bequeath to The Prosperity Christian Resource
and Community Housing Development Center, Inc., located in Reidsville,
North Carolina, tax identification number 86-1127329, for its general
purposes [(1) all of the rest, residue, and remainder of my estate or (2)
state fraction or percentage of the rest, residue, and remainder of my
estate]. To the extent possible, gifts to charitable organizations shall
be made with assets subject to income in respect of a decedent.”
- OR -
“I give, devise, and bequeath to The Prosperity Christian Resource
and Community Housing Development Center, Inc., located in Reidsville,
north Carolina, tax identification number 86-1127329, the sum of
$_____________ to be used of the general purposes of The Prosperity
Center. To the extent possible, gifts to charitable organizations shall be
made with assets subject to income in respect of a decedent.”
Note: Please contact your attorney and tax advisor before making any gift
transfers of property. |
