|
Luther Crest is very blessed to have
many individuals and groups who donate time, talents, equipment and
financially toward our camp. Our ministries would not be the
same without all of your generous donations! God bless you
all!
Gifts to Luther Crest Bible Camp are
tax-deductible under federal income tax law. Luther Crest
Bible Camp is a 501(c) 3 non-profit organization, Federal Tax ID
#41-1237314. No goods or services are received in
consideration of gifts.
Donors can make contributions to Luther
Crest by a variety of methods listed below. Gifts of all sizes and in many
forms are welcome. Some contributions may be most suitable to
be dedicated for our Endowment Fund to assure long-term benefits.
Cash:
A gift of cash is one way
to realize your charitable objectives. Cash gifts qualify as a
charitable deduction for Federal income tax purposes and are fully
deductible up to fifty percent (50%) of your adjusted gross income
in the year that the gift is made. Deduction amounts exceeding
this limit may be carried forward up to five (5) additional years.
Securities: Gifts of appreciated securities held
more than one year (readily marketable stocks and bonds, and stock
in closely held companies) can also be given to Luther Crest.
You can usually avoid the recognition of capital gains tax and
deduct the full current fair market value of the gift of securities.
The limitation on deductibility of non-cash gifts is up to thirty
percent (30%) of your adjusted gross income in the year of the gift.
Deduction amounts exceeding this limit may be carried forward up to
five (5) additional years.
Bequests and Memorials: Through your will, you can perpetuate
good works with a living memorial. Luther Crest can be a
beneficiary of all or a portion of your estate, the recipient of a
specific bequest and/or devise or the ultimate beneficiary of a
testamentary charitable remainder trust. The value of the
bequest and/or devise is deductible for Federal estate tax purposes.
In addition, any funeral memorials that are contributed in your
memory can be directed to Luther Crest.
Life Insurance: There are several ways to give life
insurance to Luther Crest. You can transfer the ownership of
an existing life insurance policy, purchase a new contract of
insurance in the name of Luther Crest or name Luther Crest as a
beneficiary of the life insurance policy. In addition to
estate tax benefits, the donor may also obtain a charitable income
tax deduction for lifetime transfers.
Real Estate: A gift of real property held for more
than one year can provide the same tax advantages as a gift of
securities. You can also choose to donate the remainder
interest in a personal residence or farm to Luther Crest while
retaining a life interest in the residence by transferring the asset
through a retained life estate.
Gifts That Provide a Stream of Income:
A number of plans allow you to
make a gift to Luther Crest's Endowment Fund, and in return receive
an income for you, a spouse, children, or others. Options
include charitable gift annuities and charitable remainder trusts
(including unitrusts and annuity trusts).
Leaving a Legacy with the Luther Crest Endowment Fund
The Mission of the
Luther Crest Endowment Fund is to provide additional dollars to
supplement our operating budget in order keep the cost of camp
affordable. The Endowment Fund may also provide perpetual
funding for additional ministry opportunities above and beyond our
general operating budget.
The
two current endowment funds provide: 1) camperships for youth who
would otherwise be unable to come to camp; and 2) stipends for summer
staff who forgo higher paying summer work to work in our ministry.
It is our goal to have
$15 million dollars in the Endowment Fund by 2022.
Currently, all funds are
invested with the Lutheran Community Foundation. For further
information, check their website at
www.TheLCF.org. All gifts, bequests and grants directed to the
Endowment Fund will be added to principal. As long as Luther
Crest Bible Camp is a viable organization, only a percentage of the
assets will be spent each year.
Gifts to the Luther Crest Endowment Fund are
available for deductibility under Federal income tax law.
If you are considering a gift to the Luther Crest
Endowment Fund, you are encouraged to seek advice in putting
together a plan that is best suited to your personal situation.
|
