Aside from annual pledges, members and friends may support Christ Church of the Ascension financially through many different types of gifts.  The wide range of choices can meet the circumstances of most situations.  These include outright gifts of cash or marketable securities which are simple to make and provide an immediate benefit to the church. Other options can be structured in a way which allows the donor to retain some of the income, while benefiting Christ Church of the Ascension over the long term.  Of course, it is advisable to consult with a tax advisor, attorney, and/or a financial planner prior to making any gift. 

OUTRIGHT CASH GIFTS

An outright gift of cash is a simple and preferred way to give to Christ Church of the Ascension.  Gifts may be made all at once or committed over a period of up to five years.  Commitment payments need not be given in equal installments; one may use a period of up to five years to implement a gifting strategy in accordance with one’s financial circumstances.

APPRECIATED MARKETABLE SECURITIES

Favorable tax benefits are generated by contributions of appreciated, long-term, capital-gain securities.  A gift of long-term appreciated securities (owned for more than 12 months) receives a tax deduction for the fair market value at the time of the gift.  Capital gain tax is ordinarily avoided.  Gifts of short-term appreciated securities (owned for 12 months or less) are deductible only in the amount of the cost basis, not the fair market value.  Gifts of restricted securities or stock in a closely held corporation may be possible after review and acceptance by Christ Church of the Ascension.

CORPORATE MATCHING GIFTS

Matching gifts from corporations are a substantial and welcome way for many donors to augment gifts to Christ Church of the Ascension.  Matching gifts, directed for the same purpose as one’s gift, will be credited as an additional contribution over and above the personal gift or commitment.

WILLS AND BEQUESTS

Bequests may include gifts from retirement plans, wills, living trusts, and life insurance policies.  Planned gifts may also include charitable trusts or annuities that provide a future benefit to the church while achieving the donor’s current or near-term personal and family goals.

Reasons for making bequests vary widely.  Many donors want to make a large gift but recognize that they cannot part with their assets during their lifetime.  Some want to reduce their estate taxes because bequests to the church are generally deductible at fair market value.  Others simply want to establish a legacy and demonstrate to others just what Christ Church of the Ascension has meant to them.

Appropriate language can simply be added to a will or trust to make an unrestricted gift or a specific bequest.  One should consult an attorney, tax advisor or financial planner before making any changes to a will or trust.

RETIREMENT PLAN ASSETS

One may wish to leave various retirement plan assets or portions of them to Christ Church of the Ascension.  These types of bequests may be especially important because of the substantial tax burdens on distributions and estate tax implications of many Individual Retirement Accounts (IRAs) and employer sponsored retirement plans.  Therefore, one may wish to designate Christ Church of the Ascension as a beneficiary or contingent beneficiary.  One’s tax advisor or attorney can provide assistance and guidance in making such decisions.

FOUNDATION GIFTS

Many individuals have access to a family foundation through which they may direct support for the church.  While the family foundation is credited with any gift, the individual responsible for the gift may receive "associated credit".  Also, a Donor Advised Fund may be established at minimal cost in support of one’s philanthropic objectives and investment strategy.

OTHER GIFTS OF TANGIBLE PERSONAL PROPERTY

In certain circumstances Christ Church of the Ascension can consider accepting gifts of tangible personal property.  As with gifts of long-term appreciated securities, one is usually entitled to a charitable deduction for market value of works of art, rare books, stamp or coin collections, etc.  Costs of such a donation are generally nominal.

LIFE INCOME GIFTS

A life income gift allows one to make a significant gift to Christ Church of the Ascension while receiving an income for life.  Benefits may include state and federal tax deductions, increased income from low-yield stock, and possible avoidance of the capital gain tax on gifts of long-term appreciated property.  For example, a Charitable Remainder Trust (CRT) offers several advantages to the donor as well as the church.  The donor provides an irrevocable gift which can be funded with a wide range of assets.  Importantly, creation of a CRT during one’s lifetime ensures the realization of specific philanthropic desires later on.

LIFE SPECIAL PROJECTS AND MEMORIAL OPPORTUNITIES

Christ Church of the Ascension has a range of special projects requiring financial support outside the current scope of budgeted resources.  These notable projects are of such significance that the church has agreed to recognize donors who fund them with an opportunity to have their actions recognized through a naming opportunity.