Dear Friends:

Over the past year the Endowment Committee for Christ’s Lutheran Church has given you some great concepts on how to leave a legacy for future generations. We’ve discussed trusts, life insurance, and bequests in wills, just to name a few.

Today, I would like to share with you a concept that might not be right for everyone, but it could be instrumental for some. In fact, as part of our recent capital campaign we had a family donate a significant piece of property that made a tremendous impact on CLC achieving its capital goal. Real Estate contributions to the church endowment can give a donor significant tax deductions, usually equal to the fair market value of the property, with some exclusions. A qualified appraisal is required. The proceeds could be used as a direct donation to the church or to establish a trust fund through foundations which could be designed to provide a continual gift to the church.

Some real estate, such as personal residences, farms, and vacation homes, can be given as a donation. By deeding the property to the church you could receive an immediate income tax donation for the fair market value. You could use the property until your death, at which time the church would take possession of the property. Normally, this property would not be subject to probate.

Of course, as with all financial matters, great care, thought, and prayer should take place in order to assure that your giving and finances are responsible to your family and the church. We would also encourage you to discuss your endowment giving plans with your attorney and financial advisor.

Should you have any questions or concerns, please do not hesitate to contact the members of the endowment committee if you would like to make a commitment to the endowment fund or if you have any questions.

Sincerely,
The Endowment Committee