Designating where your money will go when your life is over is a very personal decision, but an important one. Thoughtful gift planning can create a legacy that lives beyond your lifetime, impacting the lives of future generations.
World Concern has been blessed with donors who have chosen to invest in our work long-term through a planned gift. These gifts are tangible expressions of faith that are crucial to the ongoing success and growth of our ministry. We invite you to consider partnering with World Concern as you prayerfully plan your legacy.
These gifts provide immediate resources to World Concern while utilizing tax-wise giving strategies. Thoughtfully selecting what to donate can maximize the impact of your gift. Please consult with your professional advisor to determine the tax
implications of your gift.
These gifts take effect at the end of your life, allowing you to have your assets available for as long as you need them. Your deferred gift helps ensure that World Concern will be able to reach future generations with life-changing help.
Some gifts actually provide financial resources for you and World Concern by combining a charitable gift with payments to you and/or others you choose for life. A life income gift may enable you to make a more generous gift than you might
otherwise while providing for your personal financial needs or those of your loved ones.
Publicly traded stocks, real estate and even closely-held stock all provide an extra tax benefit if you have owned the asset for more than a year. In addition to receiving a federal income tax deduction, you may also avoid tax on your capital gains.
If you are interested in donating part of the proceeds from the sale of a property, a bargain sale might more effectively accomplish your goals. In a bargain sale, World Concern purchases your piece of property at a substantially reduced price. Ultimately you will receive some cash from the sale portion, be able to claim an income tax deduction from the gift portion of the transaction and avoid some or all taxes on your capital gains.
A charitable lead trust (CLT) helps you provide resources for your favorite ministry and receive tax benefits without giving up assets that you want your family to receive some day. A CLT may be funded with cash, stocks or property. When the trust is established you chose a set period of years or the lifetime(s) of close family members during which the trust makes payments to the ministry you have designated. At the conclusion of the term, the assets in the trust are passed to you, a family member or other beneficiary you’ve selected.
Naming World Concern as a beneficiary is a flexible way to provide future resources after you no longer need them. The designation is easy to change and can be split between multiple beneficiaries, including your heirs. Since non-profits are exempt from the income taxes that would be owed by your heirs, some assets are better to donate from a tax standpoint. A beneficiary designation can be made in connection with:
Bequests can be tailored to meet your goals by taking one of many forms, including a specific dollar amount, a specific asset or a percentage of your residuary estate. Your gift may also be designated to specific ministry or even to establish an endowment. Sample language may look like:
“I give the sum of $______ to World Concern of Seattle, WA or its successor.”
“I give _____ shares of stock to World Concern, of Seattle, WA or its successor.”
“I give ____ percentage of my residual estate to World Concern of Seattle, WA or its successor to establish the John and Sue Smith Endowment.
A retained life estate may be the right way for you to give if you want to donate your residence, vacation home or farm to your favorite ministry but keep the right to occupy or otherwise use your property for the rest of your life. Your gift will provide you with a charitable tax deduction for the appraised value of your home minus the present value of your right to continue to live there and possibly provide additional tax savings by removing the property from your estate.
A charitable gift annuity is the oldest, simplest, and most popular life income gift. It provides you or someone else you designate with fixed annual payments for the rest of your or their lives. Your gift annuity will provide some benefit for World Concern over the life of annuity, and when the gift annuity ends the entire remaining balance of your contribution will go to support World Concern’s work and mission. In addition to guaranteeing you a reliable stream of payments that are favorably taxed for many years, a charitable gift annuity also provides a charitable tax deduction.
With a charitable remainder trust, you (or others you designate) can receive annual income from the asset you give to the trust, either for life or for a set numbers of years. At the time the trust is funded, you will receive an immediate charitable tax deduction and avoid possible capital gains taxes. When the trust terminates, the remainder of the trust will be used to continue the work of World Concern while avoiding possible estate taxes.