The ministry of Gateway City Church and all its subsidiary ministries (Pastor J Ministries, Arete Community Development Corporation, and Gateway International) are far reaching with a local strategy, and a global mission. Not only does Gateway serve as a local church, but is fully engaged in community development, youth and family services, active military services, and global gospel outreach. How we accomplish the ministry and ensure its success for generations to come takes the part of every person and no gift or contribution is too small as it serves such a great cause. There are many ways one can give and participate financially in the Kingdom work administered through Gateway. Take a moment and review the creative and non-traditional methods that you can give and even establish a generational legacy through your generosity to the ministry of Gateway. We need the support and generosity of all our family and partners to see this year’s goals of reaching, teaching and releasing thousands into their life’s purpose in Christ.
Endowment Fund
Establish an endowment fund to make an expression of your faith that will provide a perpetual stream of support for your church ministry or vision today, tomorrow and well into the future.
A permanent endowment fund is created through an irrevocable gift of $25,000 or more to the Foundation. The Foundation holds and professionally manages the fund and pays income from the fund in perpetuity to the church or ministry you select as the endowment’s beneficiary.
Wills & Bequests
Wills and bequests are essential components of estate planning – the process of managing your accumulated assets and determining what legacy you will leave through them, including your legacy of faith. Your will and other estate planning documents provide an ideal opportunity to make a statement of your faith and to give resources that will support your church or favorite mission for years to come. Charitable bequests, for example, can be written into your will. The bequest can be a stated amount, a percentage of your estate or a residual amount after other expenses have been deducted, left to your church or any charitable beneficiary you identify.
Non-traditional Assets
Donating appreciated, non-liquid assets - such as real estate, business interests and artwork- is a tax-smart and innovative way to give. Gateway City Church and any of our incorporated mission arms can receive, manage and liquidate these types of assets for you or your chosen beneficiary. You have several choices for the net proceeds, including direct gifts or permanent endowment funds. Innovative gifts using nontraditional assets usually provide you with a far greater tax deduction than if you were to sell the asset yourself and then donate the proceeds to charity. You can plan a gift during your lifetime or make plans for after your death.
The church can accept most any type of asset, including:
Direct Donations from an IRA
At the close of 2015, lawmakers approved the Protecting Americans from Tax Hikes (PATH) Act. A provision of this Act made permanent Qualified Charitable Distributions (QCDs) from individual retirement accounts. This is superb news for individuals of faith looking to support their favorite missions and congregations in a tax-advantaged way.
Requirements
Benefits
End of the Year Gift
It’s a season that is full of wonder and often reflection. It is a time that you may be grateful for the blessings that God has bestowed upon you. This gratitude may lead you to make a charitable contribution to your church.
Each person’s financial situation is different and you will want to consider the type of assets and the gift plan that will be most effective for your situation. The following is a brief overview of your options. You are encouraged to speak to your financial advisor for your particular situation.
Types of assets for your gift:
Cash – This is the most common charitable gifts in the form of checks and electronic transfers. When you itemize your tax deductions, gifts of cash may be used to eliminate federal income tax on up to half of your adjusted gross income – you may also be eligible for state income tax savings.
Appreciated Securities – Using appreciated securities, such as stocks, bonds, mutual funds, for your charitable giving, can provide you with additional tax savings since you do not realize long-term capital gains and the current value, rather than your cost, may be reported as an itemized deduction.
Retirement Plans - Charitable donations from IRAs are now permanent.
Donors over 70 ½ years can make charitable gifts directly from their IRA funds under a tax law provision made permanent in December of 2015. Please call your financial advisor for more details.
Endowment Fund
Establish an endowment fund to make an expression of your faith that will provide a perpetual stream of support for your church ministry or vision today, tomorrow and well into the future.
A permanent endowment fund is created through an irrevocable gift of $25,000 or more to the Foundation. The Foundation holds and professionally manages the fund and pays income from the fund in perpetuity to the church or ministry you select as the endowment’s beneficiary.
Wills & Bequests
Wills and bequests are essential components of estate planning – the process of managing your accumulated assets and determining what legacy you will leave through them, including your legacy of faith. Your will and other estate planning documents provide an ideal opportunity to make a statement of your faith and to give resources that will support your church or favorite mission for years to come. Charitable bequests, for example, can be written into your will. The bequest can be a stated amount, a percentage of your estate or a residual amount after other expenses have been deducted, left to your church or any charitable beneficiary you identify.
Non-traditional Assets
Donating appreciated, non-liquid assets - such as real estate, business interests and artwork- is a tax-smart and innovative way to give. Gateway City Church and any of our incorporated mission arms can receive, manage and liquidate these types of assets for you or your chosen beneficiary. You have several choices for the net proceeds, including direct gifts or permanent endowment funds. Innovative gifts using nontraditional assets usually provide you with a far greater tax deduction than if you were to sell the asset yourself and then donate the proceeds to charity. You can plan a gift during your lifetime or make plans for after your death.
The church can accept most any type of asset, including:
- Real Estate - includes land, personal residence or vacation homes, farmland or other properties.
- Business interests - includes ownership in closely-held businesses, Limited Partnerships, Limited Liability Companies, or Sub-chapter S corporations.
- Restricted securities - includes publicly traded securities that may have sale restrictions. Life insurance policies - includes policies such as term, whole, universal or variable.
- Personal property - includes royalties, copyrights, artwork or precious metals.
Direct Donations from an IRA
At the close of 2015, lawmakers approved the Protecting Americans from Tax Hikes (PATH) Act. A provision of this Act made permanent Qualified Charitable Distributions (QCDs) from individual retirement accounts. This is superb news for individuals of faith looking to support their favorite missions and congregations in a tax-advantaged way.
Requirements
- Donor must be 70½ or older at the time the distribution is made
- QCDs are made from IRAs or Roth IRAs
- Distributions must be made directly to an organization eligible to receive tax deductible contributions (certain exclusions apply)
- $100,000 annual limit
- Charity receiving gift must provide donor proper substantiation of the gift
Benefits
- Can satisfy required minimum distribution (RMD) requirements in year QCD is made
- QCD amount is not included in the donor’s adjusted gross income, helping to potentially avoid increased taxes on SSI, higher Medicare premiums, and the loss of deductions/exemptions
- Provides donors that use the standard deduction a tax break for the contribution
End of the Year Gift
It’s a season that is full of wonder and often reflection. It is a time that you may be grateful for the blessings that God has bestowed upon you. This gratitude may lead you to make a charitable contribution to your church.
Each person’s financial situation is different and you will want to consider the type of assets and the gift plan that will be most effective for your situation. The following is a brief overview of your options. You are encouraged to speak to your financial advisor for your particular situation.
Types of assets for your gift:
Cash – This is the most common charitable gifts in the form of checks and electronic transfers. When you itemize your tax deductions, gifts of cash may be used to eliminate federal income tax on up to half of your adjusted gross income – you may also be eligible for state income tax savings.
Appreciated Securities – Using appreciated securities, such as stocks, bonds, mutual funds, for your charitable giving, can provide you with additional tax savings since you do not realize long-term capital gains and the current value, rather than your cost, may be reported as an itemized deduction.
Retirement Plans - Charitable donations from IRAs are now permanent.
Donors over 70 ½ years can make charitable gifts directly from their IRA funds under a tax law provision made permanent in December of 2015. Please call your financial advisor for more details.