Making a list and checking it twice? Consider these gift ideas
Are you looking for just the right Christmas gift for a loved one or friend? Is Baptist Children’s Homes (BCH) on your gift list?
Honor or Memorial gifts:
As you look for just the right gift, here is a great idea. Remember friends, employees, business associates, customers, or co-workers this Christmas by sending BCH a gift in their honor. What better gift to give someone than to honor them with a gift that will truly make a difference in the life of a child for years to come? BCH will notify the honoree with a card and acknowledge receipt of the gift to you.
Remember those who have passed and those who will be missing their loved ones this Christmas by sending a memorial gift. BCH will send a card to the one whose loved one has passed and acknowledge receipt of the gift to you.
As you consider your year-end gift opportunities, please include Baptist Children’s Homes. Here are some of your best opportunities.
A gift of cash is an easy way to secure a charitable deduction for 2015. Your donation can help to reduce your income tax and help the children and families we serve across the State. Example: If you make a $1,000 gift by December 31st, you can save $280 in taxes if you are in the 28% tax bracket. If you make a $10,000 gift by December 31, you can save $3,300 in taxes if you are in the 33% tax bracket. If your tax bracket is higher the more money you will save with a charitable gift. If you itemize your deductions, your outright gifts of cash are fully deductible up to a maximum of 50% of your adjusted gross income.
Another opportunity is a gift of stock. Gifts of long term appreciated securities will provide you with both a charitable income tax deduction and an avoidance of any capital gains tax on the growth that would otherwise be due if the securities were sold. Example: You purchased $1,000 worth of stock several years ago. Today the stock is worth $10,000. An outright gift of the stock would result in a charitable deduction of $10,000. In addition, you avoid paying capital gains tax on the $9,000 of appreciation. Gifts of appreciated stock are fully deductible – up to a maximum of 30% of your adjusted gross income. Any excess can be carried forward as a tax deduction for as many as five additional tax years if necessary.
As you consider your year-end gifts you may need to consider a gift that can produce income. If this option interests you, consider a charitable gift annuity or charitable remainder unitrust.
A charitable gift annuity or charitable remainder unitrust can provide you with increased income, a charitable deduction, and avoidance of capital gains tax if the gift is in the form of appreciated stock.
A gift of real estate provides the three-fold advantage of allowing the donor to: experience the joy of giving, receive a tax deduction, and offer a major financial gift to BCH. In recent years, BCH has received a vacation home, a primary residence, and undeveloped land. A person giving their primary residence or farm may reserve the right to occupy the home or farm the property for the remainder of their life. This would entitle you to a current income tax deduction for a portion of the fair market value.
Do you own a life insurance policy that is no longer needed? It would be a perfect gift for BCH.
Are you thinking about purchasing a new vehicle? Your old vehicle would be a great gift to BCH. By arranging to give assets such as cars, boats, jewelry, art work, etc., you may receive significant income tax savings and enjoy the satisfaction of giving during your lifetime.
Important: This information is not intended as legal advice. Check with your accountant, tax advisor or attorney to see what the best strategy will be for your particular situation.
Our mission is “sharing hope…changing lives.” The ability to meet the physical, emotional and spiritual needs of the children is directly related to the financial investment you and other friends of children make in the lives of the boys and girls who seek hope and peace. Last year, you made it possible for BCH to reach out to more than 15,690 children and families.
Thank you in advance for your investment and for your willingness to make a difference. Your gift will have a lasting impact on the children and families we serve. Thank you for offering the spirit of Christmas to “our” children 365 days a year! Remember every gift you give this year will be matched up to $250,000.
For details on any of these gift options that can benefit you and Baptist Children’s Homes of North Carolina, please call 1-800-476-3669 or 336-474-1200, and ask for Brenda Gray.