From the beginning, Christian Educational Ministries established helping others as a cornerstone of our foundational philosophy. Chances are, helping others is important to you as well. You probably already share your blessings with others by volunteering your time, talents, and by making financial gifts. Protecting your families while assisting those organizations that mean the most to you is important. We at CEM want to help you make the most of your giving.
CEM provides individual receipts for all donations of $5 or greater, along with a receipt for annual donations that exceed $300. For your convenience, we accept American Express, Discover, Visa, and MasterCard as well as gifts through PayPal.
Many of you have a desire to give more, yet are limited by your means. There may be a way available for you to give more without taxing your budget. Many employers will match your contribution to a charitable organization. We suggest that you check with your employer to see if they have a “matching funds” program. This is an easy way to double your contributions to CEM with no cost to you.
If you are like most people, you make charitable gifts to further the work and support the mission of a particular organization you believe in. You can gain the peace of mind and joy that come from making well planned gifts that significantly help others. In many cases you gain additional valuable tax advantages. These tax advantages can help you retain more of your personal assets as they provide more financial security for you and your loved ones.
Many options are available to amplify your charitable gifts. Some strategies are simple; other require assistance of a professional such as an attorney or tax advisor.
You don’t have to be wealthy or take a hefty bite out of your current income or assets to make substantial, tax-favored gifts. Planning and knowledge go a long way. As a part of your team, CEM can help you make charitable gifts that may provide these benefits and perhaps more. The following are some of the options for giving to the charity of your choice:
- Outright gifts – Give a check or cash to an exempt charitable organization. If you itemize deductions on your income tax return, you can receive a tax deduction.
- Will or trust bequests – Create a bequest by including a charitable gift provision in your will or trust document. Upon your death, your estate may receive an estate tax charitable deduction for the value of the bequest.
- Beneficiary designation gifts – Name an exempt organization as the beneficiary of your life insurance, annuity, trust, IRA or other legal contract. Your estate may receive an estate tax charitable deduction for the value of your assets transferred to the charities after your death. Life insurance gifts – Purchase and gift a new contract to a charity, or gift an existing contract. The contract’s value and premiums, gifted to the charity, may qualify you for an income tax deduction. Upon your death, the insurance proceeds go to the charity.
- Investment gifts – Transfer ownership of an appreciated investment (i.e., land, mutual fund, stock, etc.) to an exempt charity. Generally you receive a charitable income tax deduction of the market value of the gift you made while you were alive, if you itemize deductions on your income tax return. Through this type of gift, capital gains and estate taxation may be reduced or eliminated.
- Traditional IRA gift – Planned funds in a traditional IRA can be given at your death to an exempt charity through your IRA beneficiary designation. IRA funds pass to your designated charity after death and escape income taxes due on the remaining funds. Your estate can generally receive a charitable estate tax deduction as well.
- Zero estate tax gift – Your will or trust can be designed to pass along the maximum amount of estate assets to your children after death, estate tax free, through a family testamentary bequest. Typically the amount is equal to the current applicable estate tax exclusion amount. The remaining estate assets then are transferred, estate tax free, to a recognized charity through a charitable bequest. This plan may result in a zero estate tax due on your estate.
These are but a few of the many options available to magnify your giving to help both you and your chosen charity. Always consult with legal and tax experts for advice before putting a plan into action or making a significant charitable gift. Lack of proper advice could lead to adverse consequences such as losing beneficial tax advantages. In the meantime, if you have any questions, please call 1-888-BIBLE-44 or get in touch with us via the contact page.
Thank you for your continued support.