Many people desire to leave a legacy by providing funds to their favorite Baptist entity, such as the Alabama Baptist Children’s Home or their church. Read below for the many different ways you can grow in your generosity.

 

Life Income Gifts

Charitable Remainder Trusts:

Your Goal: Transfer your appreciated property without paying capital gains tax, enjoy regular income for life or for a term of years, and receive the benefit of tax savings from a charitable deduction.

How It Works: You transfer your cash or appreciated property to fund a charitable trust at The Baptist Foundation of Alabama. The trust sells your property tax-free and provides you with income for life or a term of years. When life ends, the corpus transfers to a Baptist entity of your choice.

Possible Benefits: Charitable tax deduction, income for life or a term of years, possible income growth over time and avoidance of capital gains tax.

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Charitable Gift Annuities

Your Goal: Receive fixed income for life, avoid capital gains tax on the sale of your appreciated property, and enjoy the benefit of tax savings from a charitable deduction.

How It Works: You transfer your cash to The Baptist Foundation of Alabama in exchange for our promise to pay you fixed income (with rates based on your age) for the rest of your life. Upon your death, the balance goes to a ministry of your choosing. Payout rates are from 5.2% to 9% depending on one’s age.

Possible Benefits: Charitable tax deduction, fixed income for life, partial bypass of capital gains, and possible tax-free payments.

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Life Estate Reserved

Your Goal: Remain in your home for life and receive a charitable income tax deduction.

How It Works: You give your property to The Baptist Foundation of Alabama but retain the right to use the property during your life.

Possible Benefits: Charitable tax deduction and lifetime use of property. A simple way to give your home now, receive a charitable tax deduction, and pre-decide the ministry to receive the gift of the home at your death.

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Memorial Endowment Fund

A permanent fund owned by a charity from which the capital appreciation and/or income is used to support the general or specific objective of that charity’s mission, or as otherwise directed in the gifting document. Many times, an individual will have this agreement made during their lifetime, specifying the beneficiaries of their choice. Usually funded at death, payments are made at least annually to the named beneficiaries.

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Scholarship



A fund that is setup by an individual or Baptist entity that can award income and/or principal to worthy students who will become the next generation of Christian leaders.. The fund is managed by The Baptist Foundation of Alabama, and may be awarded by either TBFA or the person/church (depending upon the verbiage of the agreement) establishing the fund. Criteria for being considered for the scholarship can be established by the donor, or can help fuel existing scholarship funds.

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