Planned Giving, Wills, & Trusts

Marketable Securities

Marketable Securities such as transferring ownership of stocks, bonds or mutual fund shares are a great way to maximize your giving, because you may receive an immediate tax deduction for the full fair market value of your securities. In addition, you pay no capital gains tax on the difference between your cost and the fair market value. You will want to consult with your tax or financial advisor to determine the best method to give.

Real Estate

Making a gift of real estate such as undeveloped lands, farms or personal residences may be transferred by deed to City First Church, and possibly with no liability on income or estate taxes on the appreciation. Please contact your real estate or tax advisor for more information on giving real estate.

Planned Giving

You may also leave a gift to City First Church through planned giving once you have been promoted to Heaven. Perhaps you have been deeply impacted through one of the many ministries at City First Church such as Champions Club, City First Leadership College, Christian Life Schools, Original Women, City First Youth, City First Church TV Ministry and so much more, that you would like to leave a lasting impact to ensure these ministries impact others even after you are gone. You may also help by paying down the debt or help make capital improvements to the church such as new carpeting or sound systems, which will help City First Church continue a spirit of excellence in our ministry. If you have planned in advance to give a gift as part of your overall personal financial strategy, we recommend that you discuss your decision with your tax or financial advisor.

There are several different types of gifts that may fall under this category, many of which are very simple to make and do not require any formal communication with us. These include:

  • Life Insurance – You may simply name City First Church as a beneficiary to your Life Insurance plan.
  • Retirement Assets – You can name City First Church as a beneficiary of your IRA, 401(k) or other qualified retirement plan. Any amounts left in your plan will transfer to City First Church free of income or estate tax.
  • Bequests – You can name City First Church as a beneficiary and your estate will receive an income tax deduction for the value of your bequest. A bequest in a will can be made for either a percentage or amount and may be designated toward a specific cause.

Other Types of Planned Giving

These may be more long-term in nature. For example:

  • Charity Gift Annuity – Cash or marketable securities are transferred to a charitable organization in exchange for a current income tax deduction and the organization’s promise to make fixed annual payments to you for life.
  • Charity Lead Trust – Cash or marketable securities are transferred to a trust, which makes fixed payments to the charitable organization over a specific period of time, then transfers the remaining assets to your heirs.

In all cases, you will want to work with your financial and/or tax advisors to determine the best way to make a planned gift. If you have any questions regarding Planned Giving, you may contact the City First Church Finance Offices at (815)877-8000.