Stocks and Mutual Funds

Appreciated stocks and mutual funds are a great way to maximize your giving because you receive an immediate income tax deduction for the full fair market value of securities you transfer that you’ve held for at least one year. In addition, you pay no capital gains tax on the difference between your cost and the fair market value. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.

• Please call Bob Combs at 386.624.5267 or email bcombs@cornerstonechurch.co to set up a transfer of stocks or mutual funds.

IRA Charitable Distributions

If you are over 70-1/2 years old, then you may distribute directly from your IRA to Cornerstone Christian Church up to $100,000 and exclude the contributed amount from your gross income for tax purposes. This amount can be counted toward the IRA’s annual required minimum distribution. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.

Estate Planning

You may designate Cornerstone Christian Church to receive all or a portion of your estate after your lifetime. This type of giving may be accomplished through:

• Bequests: You can name Cornerstone Christian Church in your will or revocable living trust as a beneficiary, and your estate will receive an income tax deduction for the value of your bequest. A bequest written in a will or revocable living trust can be made for either a percentage or an amount.

• Life Insurance: You can simply name Cornerstone Christian Church as beneficiary of part or all of your life insurance policy. You can also choose to make Cornerstone the owner of a life insurance policy that is no longer needed. When Cornerstone is made owner, you may receive a tax deduction for the amount of premiums you continue paying each year. If the policy is whole life, you may receive an immediate tax deduction for the cash value amount. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.

• Retirement Accounts: You can name Cornerstone Christian Church as a beneficiary of your IRA, 401(k), or other qualified retirement plans. Any amounts remaining in your plan, free of income and estate tax, will transfer to Cornerstone Christian Church. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.

If you are interested in any of these ways to give, please call Bob Combs at 386.624.5267 or email bcombs@cornerstonechurch.co.