Importance Of Leaving A Legacy
As Believers in Christ, sharing our faith with our family and friends is important. We should also create a pattern of giving throughout our lifetime – and even beyond – that will continue to share the Gospel of Christ with generations to come.
The Louisiana Baptist Foundation was chartered in 1944 to encourage giving and assist with gifts to the churches and other entities associated with the Louisiana Baptist Convention and Southern Baptist Convention. We serve as a resource and assist individuals who desire to leave financial or tangible assets to their church or other Baptist ministry.
The staff of the Foundation offers information on estate stewardship through printed material, speaking engagements and workshops in local churches, and makes Louisiana Baptists aware of changes in the state and federal tax code that affect estate planning and giving.
Learn more about the Process of Estate Stewardship Planning
The most common way to make an immediate gift is by writing a check or giving cash. This type of gift provides immediate liquidity for charity and generates a charitable income tax deduction for the donor in the year of the gift.
Stocks, Mutual Funds, Bonds
Giving securities may provide greater tax benefits than donating cash. If you have owned securities for more than one year and the fair market value has increased since you purchased them, you can avoid capital gains tax and receive a charitable income tax deduction equal to the fair market value.
A gift of real estate that has appreciated in value and has been held for more than a year also has the advantage of providing you with a charitable deduction based on the current fair market value, as well as bypassing capital gains tax on the growth.
Naming a ministry as the beneficiary of an insurance policy is one of the easiest ways to make a charitable gift. You also may donate a permanent life insurance policy for the benefit of the organization. Your insurance agent can help with details.
Vehicles / Jewelry / Firearms / Other Personal Items
Certain personal items can be donated to charitable ministries provided there is a benefit to the organization. Gifts valued at $500 and above require substantiation to be deductible. Consult a trusted advisor.