Tax Benefits and Ways to Give
In addition to the deep personal satisfaction you gain from your gift to the endowment fund, you may receive certain tax benefits, as well.
Your legal or tax advisor can explain the many income, estate, and inheritance tax benefits of charitable giving. Gifts of retirement plan assets or appreciated securities or real estate may be particularly advantageous.
During your lifetime, you can make gifts in the form of cash or the direct transfer of investments such as stocks, bonds, or real estate.
You can also plan for gifts that would occur upon your death. The most common is naming the Huff’s Church Endowment Fund, Inc. as a beneficiary under your Last Will and Testament. This can be for a fixed amount, called a “specific bequest” or as a percentage of the “residue” of your estate.
Other popular ways include naming the Endowment Fund as a primary or contingent beneficiary of all or a portion of your life insurance policy, annuity or retirement account. For gifts that will occur upon your death, make sure to use the correct wording. All such gifts should be directed to “The Huff’s Church Endowment Fund, Inc., to be used for their charitable purposes.”