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Planned Giving In addition to your will, there are several valuable planning tools you can also use to benefit a favorite ministry or organization, such as Wheat Ridge Ministries, or to support your local church. Many of these vehicles can also benefit you by providing you income for life along with favorable tax benefits. Find out more about charitable gift-planning, read and sign-up for our Personal Finance eNewsletter, use gift-planning calculators and much more... Wheat Ridge Ministries Circle of Hope Membership Through your will or trust you may give:.
Benefits
Testamentary charitable gifts or bequests are gifts made by naming Wheat Ridge Ministries in the donor’s will or trust. The gift or bequest is payable according to the terms of the document. Bequests may provide for a specific dollar amount in cash or specific securities or real property. A gift in any amount may be accepted as a contribution to an existing fund, so long as the terms and conditions of the existing fund permit. For specific bequests the following language is recommended: “I hereby give and bequeath $____ from my estate to Wheat Ridge Ministries, for its general purposes. Wheat Ridge Ministries is a Colorado not for profit corporation with its primary address at One Pierce Place, Suite 250E, Itasca, IL 60143. Its FEIN number is 84-0404924.” For a remainder gift the following language is recommended: “I give and bequeath all (or __%) of the rest, residue and remainder of my estate to Wheat Ridge Ministries, a Colorado not for profit corporation, Itasca, Illinois for its general purposes.” Donors to Wheat Ridge Ministries are advised that if restrictions are placed upon bequests, these should be drafted as broadly as possible to avoid restricting the funds unduly. We suggest that the following clause be added to gifts that carry restrictions: “If in the opinion of Wheat Ridge Ministries all or part of the funds cannot be applied in strict conformance with the purposes previously stated, Wheat Ridge, in its sole discretion may use these funds for other appropriate purposes as nearly aligned to the original intent of the donor as good conscience and need dictate within the authorized powers of Wheat Ridge Ministries.”
By naming a favorite ministry or charitable organization as a prime or partial beneficiary of life insurance proceeds, you can make a significant charitable gift to Wheat Ridge Ministries or other ministries. Benefits
Retirement plan assets remaining from your retirement fund provide an excellent source for charitable giving. A gift of these assets to a favorite ministry or charity can actually increase the amount of your estate that is available to your heirs. Benefit
A life estate agreement is an arrangement whereby you transfer title to a personal residence, farm or yacht to charity while retaining the right to occupy and otherwise enjoy the full use of the property for your choice of a term of years or the lifetime of one or more individuals. Benefits
A fund held by a community foundation or other public charity, such as Wheat Ridge Ministries, where the donor, or a committee appointed by the donor, may recommend eligible charitable recipients for grants from the fund. The public charity's governing body must be free to accept or reject the recommendations. Benefits
A charitable gift annuity is a simple written agreement through which you make a gift of cash and/or securities for the benefit of your favorite ministry or charity, like Wheat Ridge, and receive, in return, guaranteed payments for life, backed by the assets of the offering party. Benefits
Through a charitable remainder annuity trust or a charitable remainder unitrust, your gift(s) are converted to ongoing income payments made to you for a lifetime or term up to 20 years. At the end of the trust, the remainder will benefit the ministries or charities you designate. An annuity trust consists of a one-time gift with a percentage payout fixed at the time of the gift. With a unitrust, you can make multiple gifts. The income you receive is then calculated annually using a set percentage rate and the value of your trust's assets. This may increase or decrease depending on the value of the trust's assets. A testamentary trust, upon your death, provides an income to a surviving spouse or other named person for life or term of years, and then benefits the ministries or charities you designate. Benefits
With a charitable lead annuity trust you can designate your favorite charities or ministries to receive a regular, fixed amount from a trust you create for a specified time period (or for the lifetime of a designated person). After the term of the trust, the remainder passes on to your designated heirs or non-charitable beneficiaries. Benefit
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