Your gifts to the Warrensburg First United Methodist Church support ministries that change lives. With a little planning, gifts to the Church through one’s will or other planned gift are meaningful testaments to our faith and mission -Living That All May Know Jesus.
See types of Planned Gifts below
Directing Your Will
- The Basic Planning Tool of your Estate -
Consider tithing to the church or leaving a portion of your estate to the child you named “Charity”.
This important legal document:
This important legal document:
- Directs how your property and assets are to be disposed of at your death. It should be dated, witnessed and signed by you according to the formalities of Missouri law.
- In Missouri, is the ONLY document in which you can designate a guardian and/or conservator for dependents
- Preserves the integrity of your wishes, avoiding probate and the State deciding the division of your assets and/or the placement of your dependents
It is important to advise the Church of your intentions prior to your death to ensure proper execution of your wishes
Charitable Gift Annuity
– A Gift that pays you Income -
A charitable gift annuity provides annual income to one or two annuitants. This arrangement:
- Pays out annually for the life of the annuitant(s)
- Payment amount is based on the age of the annuitant(s) when the annuity is created
- Is established with a minimum, irrevocable gift of $10,000
- Ends with the death of the annuitant(s); the church is then paid the remainder
All details of a charitable gift annuity in which UMC Burg is the beneficiary are coordinated through the Missouri United Methodist Foundation.
Giving Grain
- Giving back to Local Farmers -
A contribution of grain directly to the church allows the cash-basis farmer to:
- Avoid reporting the sale of grain as income
- Still include the cost of growing the grain in deductible expenses
When a farmer delivers grain to the elevator, a warehouse receipt showing the church as owner should be executed. The church orders the sale of the grain, with the original sales invoice showing the church as the seller. The proceeds check is payable to the church.
Questions regarding the tax benefits of such a gift are deferred to the donor’s tax professional
Beneficiary Designations
– Appoint your Assets -
An effective way to remember the Church is as a beneficiary in a variety of estate planning tools.
Instruments include:
Instruments include:
Wills Trusts Life Insurance Policies Retirement Plans IRAs Bank Accounts
Brokerage Accounts Tangible Personal property Deeds of Real Property
Brokerage Accounts Tangible Personal property Deeds of Real Property
It is important to advise the Church of its beneficiary status prior to maturity of the instrument to ensure proper execution of the donors’ wishes and intents.
Gifts of Personal Property
- Choose Your Sharing -
Gifts of tangible personal property can be an effective way to further God’s mission through the church
Before accepting such gifts, the Church will examine the gift in light of:
Before accepting such gifts, the Church will examine the gift in light of:
- Does the property fulfill the mission of the church?
- Is the property marketable?
- Are there any undue restrictions on the use, display or sale of the property?
- Are there any carrying costs for the property?
Prior to acceptance of tangible personal property, the gift will be approved by the Church.
Questions regarding the tax benefits of such a gift are deferred to the donor’s tax professional.
Gifts of Real Estate
– Developed and Undeveloped -
Gifts of real estate may include developed or undeveloped property. Prior to acceptance of real estate, the Church shall require an initial environmental review of the property to ensure that the property has no environmental damage. In the event that the initial inspection reveals a potential problem, the Church shall retain a qualified inspection firm to conduct an environmental audit.; the cost of the environmental audit shall generally be an expense of the donor. When appropriate, a title search shall be obtained by the Church prior to the acceptance of the real property gift; the cost of this title search shall generally be an expense of the donor. Criteria for acceptance of the property shall include:
- Does the property fulfill the mission of the church?
- Is the property marketable?
- Are there any restrictions, reservations, easements, or other limitations associated with the property?
- Are there carrying costs, which may include insurance, property taxes, mortgages, or notes, etc., associated with the property?
- Does the environmental audit reflect that the property is not damaged?
- What is the donor’s timeline for transfer of the asset?
Prior to acceptance of the real estate, the gift will be approved by the Church and its legal counsel.
Questions regarding the tax benefits of such a gift are deferred to the donor’s tax professional.
Gifts of Securities
– Stocks, Bonds & Mutual Fund Shares -
The church can accept both publicly-traded and closely-held securities.
Publicly-traded Securities: Marketable securities may be transferred to an account maintained by the Church at one or more brokerage firms, to the Missouri United Methodist Foundation for the benefit of the Church, or delivered physically to the Church with the transferor’s signature or stock power attached. As a general rule, all marketable securities shall be sold upon receipt unless otherwise directed by the Church. In some cases, marketable securities may be restricted by applicable securities laws. In such instances the final determination on the acceptance of the restricted securities shall be made by the Church.
Closely-held Securities: Closely held securities, which include not only debt and equity positions in non-publicly traded companies but also interests in LLPs and LLCs or other ownership forms, can be accepted subject to the approval of the Church. However, gifts must be reviewed prior to acceptance to determine that:
Publicly-traded Securities: Marketable securities may be transferred to an account maintained by the Church at one or more brokerage firms, to the Missouri United Methodist Foundation for the benefit of the Church, or delivered physically to the Church with the transferor’s signature or stock power attached. As a general rule, all marketable securities shall be sold upon receipt unless otherwise directed by the Church. In some cases, marketable securities may be restricted by applicable securities laws. In such instances the final determination on the acceptance of the restricted securities shall be made by the Church.
Closely-held Securities: Closely held securities, which include not only debt and equity positions in non-publicly traded companies but also interests in LLPs and LLCs or other ownership forms, can be accepted subject to the approval of the Church. However, gifts must be reviewed prior to acceptance to determine that:
- There are no restrictions on the security that would prevent the Church from ultimately converting those assets to cash
- The security is marketable, and
- The security will not generate any undesirable tax consequences for the Church
If potential problems arise on initial review of the security, further review and recommendation by an outside professional may be sought before making a final decision on acceptance of the gift. The final determination on the acceptance of closely-held securities shall be made by the Church and legal counsel when necessary.
Every effort will be made to sell non-marketable securities as quickly as possible.
Questions regarding the tax benefits of such a gift are deferred to the donor’s tax professional.
Gifts of Securities
– Oil, Gas & Mineral Interests -
The Church may accept oil, gas and mineral property interests, when appropriate. Prior to acceptance of an oil, gas or mineral interest the gift will be approved by the Church, and if necessary, by the Church’s legal counsel. Criteria for acceptance of the property will include:
- Gifts of surface rights should have a value of $20,000 or greater
- Gifts of oil, gas and mineral interests should generate at least $3,000 per year in royalties or other income (as determined by the average of the three years prior to the gift)
- The property should not have extended liabilities or other considerations that make receipt of the gift inappropriate
- A working interest (rarely accepted) may only be accepted when there is a plan to minimize potential liability and tax consequences
- The property will undergo an environmental review to ensure that the Church has no current or potential exposure to environmental liability
Questions regarding the tax benefits of such a gift are deferred to the donor’s tax professional
If you have questions
Please contact Robyn at [email protected] or Dale Carder at [email protected]. UMCburg works closely with the Missouri United Methodist Foundation to ensure proper execution of donors’ wishes and intents.
Thank you!
Thank you!