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CLC Donor Advised Fund (DAF)

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Donor Advised Fund (DAF):

CLC has established a Single Charity Donor Advised Fund (DAF) with NCF. A DAF is a charitable giving vehicle administered by a third party and created for the purpose of managing charitable donations on behalf of an organization like CLC. A DAF is a low cost, flexible vehicle for charitable giving used as an alternative to direct giving or creating a private (more…)

CLC Loan Notes

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Loan Notes:

People don’t always think of money owed to them in the form of loan notes as financial assets. But of course they are, and they can be given to charity. The National Christian Foundation (NCF) with which CLC is affiliated has extensive experience receiving and managing various types of corporate obligations. They manage the repayment of the loan and place the net collected principal and interest into CLC’s Legacy Single Charity Donor Advised Fund.  (more…)

CLC Business Interests

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Business Interests:

• Closely Held Stock 

• Limited Partnership Interests 

• Limited Liability Company (LLC’s) 

• Sub-Chapter S Corp 

Gifts of the holdings mentioned above will allow you a greater opportunity to get resources into the hands of those who further the mission of things that you believe in. The tax benefits of giving rather than selling can be significant. 

 

Download PDF HERE

If you would like further information contact Hank Miles, Treasurer, at 615-370-5020.

E-mail Hank Miles, Treasurer

  “Have you included CLC in your will or trust?” 

CLC Real Estate

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Real Estate:

If you own real estate and wish to make a charitable donation to CLC you may find this to be a good way to accomplish your goal. Real estate that has been held for more than one year is generally entitled to an income tax deduction equal to the full fair market value of the contributed property. Also, the donor can avoid the capital gains tax on the appreciated portion of the real estate that would have been taxable if the property were sold. Saving future potential estate taxes and the probate costs are other potential benefits. Further, depending on the type of property you may be able to make a substantial gift to charity without significantly impacting your cash flow. In addition, CLC uses The National Christian Foundation (NCF) to handle the administrative burden by receiving, managing and selling the asset for you. 

The process works as follows: 

1. Once you and your advisor decide that a gift of real estate is appropriate in your financial and gift planning you will need to submit the following to NCF: 

• Copy of the current deed 

• Boundary survey 

• Last tax assessment notice/tax bill paid 

• Current insurance coverage 

• Copy of title insurance policy 

• Any agreements associated with property 

• Phase 1 environmental inspection report 

• Current appraisal 

 

Provided by NCF 

• Real Estate questionnaire 

• Indemnification agreement 

• Environmental questionnaire 

 

The above items allow NCF to understand the asset and answer relevant questions, such as, “Is the asset transferable?” and “What is the best method of transfer?” NCF reviews the gift and submits a gift offer letter to you as owner. As the decision is made to proceed, a transfer document is drawn up. 

2. When the transfer document is executed, your gift date is established. Additional items, such as an appraisal and Form 8283, may need to be completed after the gift has taken place. 

3. Upon the sale of the asset the net proceeds will be placed in CLC’s Legacy Single Charity DAF. 

  

Download PDF HERE

If you would like further information contact Hank Miles, Treasurer, at 615-370-5020.

E-mail Hank Miles, Treasurer

  “Have you included CLC in your will or trust?” 

CLC Retirement Plans

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Retirement Plans:

There are several types of retirement plans that take advantage of the tax incentives enacted by Congress that are known as qualified plans. They include Traditional and Roth Individual Retirement Accounts (IRA’s). There are a number of employer-sponsored qualified plans, with which you may be familiar such as: 401(K), 403(b), Keogh, SIMPLE, SEP and SARSEP plans.  (more…)

CLC Life Insurance

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Life Insurance:

Gifts of life insurance policies will allow you to give more to charities than you had perhaps ever dreamed possible. If you have excess life insurance, you may consider including it in your charitable giving plans. It is a convenient and easy way to make a gift to your favorite charity. 

A gift of life insurance to CLC is economical and is tax deductible in most cases. Proceeds are paid to the beneficiary after death and usually do not go through the probate process. 

Below are the procedures if you chose to support CLC through life insurance:  (more…)

CLC Charitable Lead Trust (CLT)

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Charitable Lead Trust (CLT):

A Charitable Lead Trust is an irrevocable trust that can be created either during one’s lifetime or at death. The trust pays an amount each year (the lead interest) to one or more charities for a fixed term of years or the lifetime of one or more individuals. At the end of the trust term, the property remaining in the CLT, if any, is either returned to the donor or to his or her intended heirs. The payout to charity each year is dependent upon whether the trust is either a charitable lead annuity trust or a charitable lead unitrust. The minimum initial Trust value is $500,000. (Keep reading for CLAT and CLUT) (more…)

CLC Charitable Remainder Trust (CRT)

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Charitable Remainder Trust (CRT):

Deductibility is a strong incentive for most charitable gifts, and it is a large part of the reason why Americans are generous givers to charitable causes. If you are considering a major gift to a registered charitable organization, such as CLC, it can be very advantageous to make your gift by using a charitable trust. The minimum initial Trust value is $500,000.  (Keep reading for info about CRAT and CRUT) (more…)

CLC Charitable Gift Annuity (CGA)

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Charitable Gift Annuity (CGA):

A Charitable Gift Annuity is a way to support the discipleship ministry of CLC and receive regular, fixed payments for life. It is an arrangement that involves a charitable gift and an annuity that allows you to combine three concepts – (1) guaranteed lifetime income source, (2) favorable tax benefits and (3) a generous charitable contribution. In exchange for this (more…)

CLC Non-Liquid Assets

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Non-Liquid Assets:

Through our affiliation with The National Christian Foundation (NCF) CLC is able to receive as gifts non-liquid assets. NCF is a recognized leader in receiving and managing non-liquid assets such as real estate, business interests, restricted securities and personal property. NCF handles the administrative burden by selling the asset for you and then placing the proceeds into CLC’s Legacy Single Charity Donor Advised Fund. 

Why should you donate non-liquid assets to CLC: 

• You receive a greater tax deduction, generally for fair market value.  (more…)