Planned giving enables you to support ministries important to you in a way that meets your planning needs and financial goals. Such gifts are usually completed after much thought and prayer on the part of the donor. Many times these gifts are completed now to benefit the EFCA well into the future.
Learn more about the most common types of EFCA Foundation planned gifts:
A bequest in your will and naming the Evangelical Free Church of America or your local EFCA church in your living trust are the easiest and most popular gift plan used by our ministry friends. Donors may name their chosen ministry as a percentage beneficiary, for a specific dollar amount or specific assets, or as a residual or contingent recipient. Your assets can be used to support the Lord's Work in ways you may have documented.
IRAs and other retirement accounts make excellent gifts to give to charities, such as the EFCA or your local church. Naming the EFCA as a beneficiary of your IRA, 401(k), 403(b) or other retirement fund account can make a meaningful difference in support of the EFCA. Such gifts can reduce your estate's exposure to estate and income taxes. Simply request a "change of beneficiary form" from your plan's administrator and indicate the amount or percentage of assets you wish to leave to the Lord's work. It is simple to set up and may be changed if your needs or wishes change.
To learn more, please email [email protected] or call toll free (800) 995-8578.
Special "life-income" or "term-of-years" trusts can be arranged now to enhance your retirement income and save taxes. By transferring cash, appreciated securities, or real estate, the trust is arranged to provide you with payments to you or your beneficiaries. You will have the added benefit of knowing that you will ultimately provide a significant gift to the EFCA and possibly other ministries with the remaining funds after the trust matures. Various charitable trusts are available to meet your individual needs. Working through the EFCA Foundation, you will need to involve an attorney to ensure the trust is designed to fit your overall estate plan. ($100,000 minimum)
A gift annuity is a simple, contractual agreement between one or two donors and the EFCA Foundation. The donor simply transfers assets in exchange for a lifetime annuity. Donors receive an immediate charitable income tax deduction, and the rates are based on the age of the annuitant(s) at establishment. Donors may designate the specific ministry or ministries to ultimately benefit from the remaining funds at the donor's death. ($5,000 minimum)
A donor advised fund is a charitable giving program that allows you to make a gift, gain an immediate deduction, invest the value, and support the EFCA ministries and most other charities most important to you. You can recommend immediately or over the years grant distributions from this charitable account to the causes most important to you. It is a great way to simplify and organize your gift giving. The EFCA Foundation takes responsibility to invest the funds, mail the checks, keep the records straight, and help you meet your charitable and stewardship aims. ($5,000 minimum)
Designated funds have been created to provide ongoing sustaining funds to the ministry or ministries most important to you. You make a contribution, either at life or via your estate planning documents, and the funds are invested and distributed to the EFCA, your church, your district, on the schedule you identify. For example, you fund a plan with $100,000, designate an annual payout rate of 5% to your local EFCA church each year, and the EFCA will honor your charitable intent. This is a great way to make an irrevocable major gift, secure an immediate deduction, and support the cause over many years into the future. You may choose to create your own fund or contribute to an existing fund.
Real Estate can be donated to the EFCA Foundation as a current outright gift or through and estate plan. It may also be used to finance a deferred gift such as a charitable remainder trust. Some options allow you to continue to use the property for your lifetime or secure lifetime income. Gifts of farms, residences, undeveloped land, vacation cabins, or some commercial property should be discussed with a gift planner at the EFCA Foundation.