Growing Physician Champions - Healthcare Experience Foundation
Growing Your Ministry Foundation Basic Questions
-
Upload
williamhigh -
Category
Economy & Finance
-
view
917 -
download
1
description
Transcript of Growing Your Ministry Foundation Basic Questions
Growing Your Ministry Foundation
William HighServant Christian Community
Foundation
Background: Donor Issues
• Assumption: most donors are not planned—60-70% don’t have valid will or trust.
• Most have planners not educated.
• Paying too much income tax.
• Wealth in assets.
Donor Issue(7 Flags)
Handle In House(cash/stock)
SCCF(planning/non cash)
Donor
DueDiligence!
DueDiligence!
AcceptanceAcceptance
Receipt
Understanding: Gift Flow Process
Instruction: Seven Donor Issues
• Income Tax• Estate Issues• Real Estate• Business• Cars/Boats/RVs• Inventory• Gift Annuity (need for income)
Income Tax
• General Principle:Swap taxes for giving
• 10-20% more• High income—50% or reallocate
assets• Questions: Are you paying too
much in taxes? Are you maximizing your charitable deduction?
Current Plan – Mrs. Cash
Case 1: Excess Income
Income $300,000
$0Income Tax
Deduction on $50,000/yr Gifts
Investments$5,000,000
$150,000 Deduction$100,000
$200,000/yr
$150,000 Taxed
Proposed Plan – Mrs. Cash
Benefits:
Case 1: Excess Income
Income $200,000
$165,000+Income Tax Deduction
Investments$5,000,000
Transfer $1,650,000 CharitableTrust
$100,000
Lower TaxesControlMore Income
(During Life)
Income
Mrs. Cash
$100,000
or
Only $100,000 Taxed
Estate Issues
• General Principles: If giving at death, give during life
• Basic Strategy: Beneficiary Designations
• Opportunity: Estate Tax• Questions: Are you giving to charity
through your estate? Would you like a simple way? Are you facing estate taxes?
Real Estate
• If property is highly appreciated, avoid taxes at sale with a gift.
• The gift may be partial.• The gift may produce income for you.• Questions: 1)Is it appreciated? 2)Would
you like to avoid or reduce those taxes? 3)Does it have debt?
Business Interests/Sale
• Highly appreciated/producing high income• Reduce income taxes• Reduce/avoid taxes at sale• Give complete/partial interest• Not lose control• Create income for yourself
Gifts that Create Income
• Usually 60+• Money market/CDs• Sale of business/sale of real estate• Appreciated stock• Diversification• Desire for income
Application
• Immediate: vehicles/RVs/Boats
• Immediate: Inventory
• Bequests: how is your planning?
• CGAs—gifts to create income
• Looking for Real Estate/Business
sale interests