Outright Gifts of Assets:
Many donors find giving appreciated assets to be a particularly attractive way to make a gift to Bible Prayer Fellowship because they are supporting us at a lower cost than when making a cash gift.

If you have appreciated assets that you have owned for more than one year - perhaps stock shares - a direct gift of the asset to Bible Prayer Fellowship would be of greater benefit to you than selling the asset and donating the proceeds.

As a direct gift you would be able to avoid capital gain tax on the appreciated portion of the asset and you would have a deduction on your income tax of the asset's full fair market value at the date of transfer, up to 50% of your adjusted gross income. The remainder may be deducted over the next five years. You would have saved the amount of the capital gain tax.

Using depreciated assets could also benefit you. In this case, it would probably be more to your advantage to sell the asset and donate the cash rather than donating the depreciated asset. You can deduct the capital loss to offset any realized capital gain from other assets and claim a charitable deduction for the cash.

Tangible Personal Property:
Everyone has tangible personal property of some value. Perhaps you own works of art, antiques, jewelry, rare books, or other collections such as stamps, coins or cars. To get a charitable deduction for your gift to Bible Prayer Fellowship, you must have owned them for more than one year. There are two types of tangible personal property - items related to Bible Prayer Fellowship's purpose and items not related to our purpose.

If you make a gift of a related-use item you receive an income-tax charitable deduction of the appraised value of the gift and a tax deduction of up to 30% of your adjusted gross income, with the five-year carry-over provision. Gifts of unrelated items allow you a deduction of the item's cost basis.

Stock or Mutual Fund Shares:
For securities you have owned more than one year, you will receive an income tax deduction for the full fair-market value and you will completely avoid capital gain tax.

Real Estate:
Bible Prayer Fellowship accepts gifts of approved residential and commercial properties. You will generally receive an income tax deduction for the full fair-market value of a property you have owned more than one year and completely avoid capital gain tax.More on real estate (click here)

Retained Life Estates:
You can donate your residence, vacation home, or farm to Bible Prayer Fellowship, even as you retain full lifetime use of the property. You will receive an immediate income tax deduction for a portion of the fair-market value of your property. You will continue to be responsible for insuring and maintaining the property and for paying property taxes... More on Retained Life Estates (click here)

Cumulative gifts to Bible Prayer Fellowship and other public charities of appreciated securities and real estate are deductible up to 30% of your adjusted gross income, with a 5-year carry-over for any excess.

For more information about how to make an outright gift of assets or a gift with a retained life income, or to establish a retained life estate, please contact a PhilanthroCorp Estate Specialist. Call 800-876-7958 ext 2127 or email (click here)

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