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Donations at JupiterFIRST can be made in a number of ways. The simplest method is a cash donation, however other gifts such as stocks, bonds and property can provide you with a creative and tax advantaged donation. It is recommended you consult your CPA, Tax Advisor, Broker or Attorney before making any charitable contributions.


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Cash Donations

A cash donation entitles you to a charitable deduction of up to 50% of adjusted gross income. If all deductible gifts exceed the 50 percent limitation, you may carry over the excess amount for up to five years.

 

Gifts of Stock (or other appreciated property)

Using appreciated stock to donate to JupiterFIRST entitles you to a deduction for the fair market value of the donated securities. In addition you can avoid any capital gain tax association with the amount the market value exceeds your basis providing a double tax benefit. This tax deduction may be a maximum of 30% of your adjusted gross income and any excess over 30% may be carried forward for the next five tax years.

If you would like to make a stock gift to JupiterFIRST, contact Leslie Chaney, Financial Administrator of JupiterFIRST for transfer information. 

 

Memorial Gifts

A Wonderful Memory

Remembering a friend or loved one who has died by making a donation in their name is a wonderful tribute to their memory.

 

Legacy Gifts

Not everyone can be a major donor during their lifetime. Most of us need our current assets to provide for ourselves and our families. At our death however, many of us have an opportunity to help secure the long term future of JupiterFIRST, including its many and varied outreach programs.
 
Creatively designed, tax advantaged gifts at death or during one's lifetime is within the reach of many of us. Below are some options to consider: Please consult your estate planning or tax professional when considering these options as rules and regulations applying to these giving methods can be complicated and subject to change.

 

Gifts by Bequest

Gifts that are made through provisions of your last will and testament are very easy to accomplish and can be made for a specific amount, such as $10,000, or as a percentage of the residual estate.

 

Retirement Plan Beneficiary

Few people realize that retirement plan benefits (IRA, 401(k), 403(b)) are taxed substantially when transferred to anyone other than a spouse. Since income taxes have not been collected on these plans, transferring benefits can trigger a taxable event that creates an income tax liability. If the deceased's estate is large enough to be subject to estate taxes, an additional tax may be generated which, when added to the income tax, could total 60-70% of the retirement plan assets. Many professional advisors suggest that if you want to leave estate assets to charity, using retirement plan dollars is a wise choice. Retirement plan assets left to charity avoid both estate and income taxes.

The second advantage to this type of gift is the ease with which the charitable designation can be made. A simple change of beneficiary form filed with the plan administrator designating JupiterFIRST Church as a primary or secondary beneficiary is accomplished with your signature. As with your will, the designated amount can be stated as a percentage of the plan assets.

 

Life Insurance

Life insurance policies that once may have been purchased to cover a debt in the event of a premature death may no longer be needed for the intended purpose. Polices originally meant to cover a mortgage that is paid, children's education, or other needs may now be donated to provide a substantial gift in the future. A charitable deduction is available if the policy is irrevocably assigned to JupiterFIRST and future premiums, if necessary, are also possible charitable deductions.

 

Charitable Remainder Trust

Creation of a qualified charitable trust by an individual will provide income to the beneficiaries designated by the creator of the trust. The income can be paid for the lifetime of the beneficiary or for a specific number of years. At the end of the trust term, the remaining assets pass to JupiterFIRST.

 

Remainder Interest in a Residence

An individual may give property to JupiterFIRST while retaining the right to occupy the property for life. This type of gift provides the donor with a current tax deduction for the present value of the remainder interest. This will provide additional spendable income without causing a disruption in their lifestyle. Transfer of the property also avoids any potential capital gain tax.