Planned Giving

There are various “Planned Giving” strategies available to the donor if one wishes to give to New Life. Each individual strategy offers opportunities for commitments that will have a significant impact for New Life.

Before you make any decisions, please make sure you have read the disclaimer.

 

Wills & Living Trusts

Remembering New Life in your Will or Living Trust allows you to make a significant gift to New Life and at the same time allows you to maintain control over your assets during your life. The terms of your Will or revocable trust are flexible and can be changed throughout your lifetime should you decide to modify your charitable bequests.

Bequest language is simple: “…to New Life Christian Fellowship, located in Jacksonville, Florida”. The charitable bequest can either be a fixed dollar amount, a percentage of the total estate or a percentage of the residual estate. Leaving a charitable bequest to New Life is a special way to leave a legacy for future generations.

 

Endowment Fund

The Endowment Fund is a permanent, self-sustaining fund that operates much like any savings and investment portfolio. The principal is carefully invested and over time, grows. Only the interest from the fund can be spent for the operation of New Life.

Donors may specify a particular purpose for an endowed gift, such as scholarships to be provided in perpetuity or they may give their gift unrestricted—not designated to any particular purpose. Unrestricted gifts offer New Life the greatest flexibility to meet challenges and opportunities now and in the future.

Gifts to the Endowment Fund will help future generations of New Life and ensure the growth and financial stability of the church for years to come.

 

Life Insurance

Donors may use Life Insurance funds to establish a scholarship for students, for the development of buildings or other requests the donor may make to reward students of New Life.

Two forms of life insurance are typically donated: paid-up "whole life" and "universal life." A whole life policy usually has cash value that may be used for the immediate needs of New Life. Universal life policies can usually be structured so that premiums will not need to be paid after a period of years.

If you desire to donate your “whole” or “universal life” insurance policy to New Life, you should name New Life Christian Fellowship as both owner and beneficiary.

 

Gift Annuity (Income for Life)

A Gift Annuity is a contract between the donor and New Life. In exchange for a gift to New Life, the church agrees to pay a fixed annual payment for your life and/or the life of a second beneficiary.

The annuity is a percentage of the gift and is based upon the donor's age. A portion of each annuity payment is a tax-free return of the principal. A gift annuity can be funded with cash or securities.

The tax advantages are a benefit to the donor by way of current deductions, tax free income and capital gains.

 

Charitable Gift Annuity

A Charitable Gift Annuity is a contract between the donor and New Life that provides immediate income or deferred income for specified period of time.  The tax advantages are a benefit to the donor by way of current deductions, tax free income and capital gains.

There are two basic types of Charitable Gift Annuities: The “current” payment gift annuity which begins making payments immediately and is generally most appropriate for people age 60 and older and the “deferred” gift annuity defers the annuity payments for 5-15 years and is generally appropriate for people less than 60 years old and who want to take advantage of a current charitable income tax deduction, but who don’t want or need the payments to begin until they are older.

 

Charitable Remainder Trust

The charitable remainder trust enables you to receive income for life and avoid potential capital gains taxes, and provides you with a current charitable income tax deduction. Real estate, cash, marketable securities and closely held stock can all be transferred into the charitable remainder trust in exchange for a lifetime income.

Since the trust is tax-exempt, when the trustee sells the assets there are no tax consequences. After the trust asset has been sold, the proceeds are subsequently invested in a diversified portfolio to provide you with lifetime income and a residual charitable gift to the charitable beneficiaries.

The principal advantages of a Charitable Remainder Trust include: Lifetime income stream, Avoidance of potential capital gains taxes on appreciated assets, Charitable income tax deduction, Tax-free growth of trust assets, Diversification of assets, and a Significant investment in New Life.

 

Disclaimer

Please consult a licensed professional on the implications of gifting strategies in your estate. Your Will and/or Trust should be prepared by a licensed professional.  This person should advise you on your entire estate plan, including beneficiary designations on assets that may avoid probate. The information provided above is for informational purposes only and is not intended to be legal advice.

 

 

Want to give online?

You can give online easily and securely. Please note that the login information for giving is separate from your my.nlcf.org account. Your online giving is secured to prevent anyone from intercepting your information.

 

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