Life Christian Foundation
What’s the Foundation and Purpose
The Foundation is a 501©3 non-profit organization formed to provide a perpetual source of revenue that supports Life Center and Life Christian Academy. The specific purpose of the corporation is to promote, accept, manage, and invest gifts of property, securities, life insurance, bequests, cash, and other forms of contributions to Life Christian Foundation for the benefit of Life Center and Life Christian Academy.
Endowment funds are designed to accept gifts of cash, bequests (testamentary gifts made through a donor’s will), memorial gifts, and other tangible property. Endowment funds have been established so the fair market value of the donor’s gift will remain intact and permanently appropriated to the fund. The resources given are invested so only the income generated is spent.
The asset value (fund balance) is protected by the Life Christian Foundation policy whereby only a percentage of the fund may be spent in a given year. This policy allows opportunity for the continual growth of the fund and a continued return on investment,thus extending the life of the endowment fund. Each endowment fund is established with a fund agreement wherein the donor establishes the purpose for the fund and the criteria under which decisions are made for the use of the fund proceeds.
Management and Investment
Columbia Trust is the investment manager for the Life Christian Foundation. They are an outstanding investment advisory firm in the Pacific Northwest. We are fortunate to be associated with this fine organization.
Types of Fundraising Conducted
The Foundation Board will concentrate on the soliciting of funds through donor gifts to include cash, annuities, charitable trusts, lifetime trusts, testamentary trusts, planned gifts, and through appropriate investment of available funds. There is no restriction on the type of fundraising activities the Foundation may conduct.
When such a trust is created, the donor protects the assets from capital gains tax, provides a sizable income tax deduction in the year of creation, and provides for potential estate tax deduction.
A gift to the endowment fund may be in cash as a current gift, or a planned/deferred gift. Property other than cash, such as stocks, mutual funds, real estate, and other assets, may be given at a lower cost with significant personal savings and donor benefits.
Giving appreciated property may receive a deduction based on the full value of the asset, while avoiding a capital gains tax that may have been due if the property were sold.
Gifts of cash, stocks, real estate, and personal property of value all qualify for tax deductions. All donations and gifts are tax deductible. Additionally, certain gifts such as charitable remainder trusts, which designate the Foundation as the lifetime recipient of income or as the beneficiary of the trust, provide excellent tax deduction benefits.
Types of Gifts Can Include:
- Cash Gifts
- Stocks and Investment Programs
- Through your Will
- Revocable Living Trusts
- Charitable Trusts
- Lifetime Trusts
- Testamentary Trusts
- Gift Annuities
- Through Life Insurance
- Through Retirement Plans