Post by Amaris on Sept 2, 2007 1:26:18 GMT
From his website, under the donate menu ... he also has "Automatic Giving Plan" and of course a "Donate Now"
The parts in bold print I thought interesting and have put my thoughts in italics
This is his "Planned Giving" ...
Annuities—Gifts That Give Back
Would you like to contribute to charity while creating a guaranteed, fixed lifetime income stream at rates above CD rates? Did you know that you can contribute to Benny Hinn Ministries while increasing your income and financial stability and at the same time reduce your income taxes and estate taxes?
Through a Charitable Gift Annuity, you or both you and your spouse would receive tax benefits and guaranteed lifetime payments while supporting ministry efforts.
This is how it works: with a Charitable Gift Annuity agreement, you transfer cash or marketable assets (minimum of $10,000) to Benny Hinn Ministries through Trust Counselors Network. We guarantee to send you fixed payments for the rest of your life as well as the life, perhaps, of a second annuitant. Upon the death of the last annuitant, the foundation you designate receives the remainder of the funds. In essence, on your part, the transaction is partly a charitable gift and partly the purchase of a stream of income.
Many Benefits for You
In addition to meeting your philanthropic objectives, a Charitable Gift Annuity offers you many other benefits:
You would receive guaranteed and possibly higher payments.
Charitable Gift Annuity payments are based upon the amount of the gift, whether it involves cash or appreciated securities, your age and that of a joint annuitant, and when you want the payments to begin.
The lifetime payments you receive are based on the American Council on Gift Annuities’ recommended payout rates, which take into consideration all these factors.
If you fund the Charitable Gift Annuity with low-dividend stocks, your guaranteed payments might actually be higher than your dividends.
( am I reading that right? is it saying you might have to pay in more than you get out?)
And you eliminate your worries about the volatility of stock prices because your payment will always be the same, regardless of whether the stock market is up or down.
( But it doesn't guarantee your dividends will be any good remember!)
Income-Tax Savings
A portion of the payments you receive from the Charitable Gift Annuity is usually tax free or taxed at the lower capital gains tax rate. And you are eligible to claim a charitable income-tax deduction on part of the transaction in the year you make the gift, and perhaps additional years.
Estate-Tax Savings
Money you put into a Charitable Gift Annuity is usually not subject to estate or gift taxes.
An Inexpensive Agreement
Because of the simplicity of a Charitable Gift Annuity agreement, it is usually not necessary to incur legal fees in the transaction. Nonetheless, many people feel comfortable having their attorney review the agreement, and we suggest you do so.
( But doubtful they would because they trust him!)
Funding Your Charitable Gift Annuity
To fund a Charitable Gift Annuity, most people use cash or appreciated securities such as stocks or bonds. Some also fund it with real estate. If you use appreciated securities, you will avoid paying immediate capital gains tax. However, some taxable capital gains may be included in your income.
(Hmmm)
A Valuable Financial Tool
If you would like to examine the advantages that you could personally derive from having a Charitable Gift Annuity, call us, or have Tim Whitsitt, Planned Giving Director, develop an illustration tailored just for you.
( Is that like a cartoon version )
If you decide to proceed, Tim Whitsitt will give you a one-page application to complete and will coordinate the simple agreement and transaction.
We appreciate your consideration of a Charitable Gift Annuity with us! It is a partnership that will provide many benefits to all concerned in tremendous ways.
Sample Illustration
Mrs. Smith, a 73-year-old widow, owns stock that has appreciated to $300,000. Her cost basis is $25,000. She receives dividend income from the stock of $7,500 per year, about a 2.5% return. After tax, her net income is $5,400 a year. If she sells the stock, she will incur almost $41,250 in capital gains taxes.
Mrs. Smith decides to give the stock to her favorite charity through a Charitable Gift Annuity. As a result, she partially bypasses the capital gains taxes, saving about $20,464. She also receives an income-tax deduction of $111,623. Her actual tax savings is $31,254—additional money to invest, spend, or save. Plus, her income increases to $23,400 per year.
Further, Mrs. Smith’s annuity payments are taxed much more favorably than her stock dividends. About half of the income, $11,466, is taxed at ordinary income rates (25%), or $2,867. Another portion, $10,943, is taxed at the federal capital gains rate of 15%, or about $1,640. The remaining $990 is not taxed at all.
Because of the various tax advantages, the actual effective pretax rate of Mrs. Smith’s payments from the Charitable Gift Annuity is 9.5%. Compare that to the 2.5% return from her stocks!
Her Charitable Gift Annuity not only provides much-needed funding for Mrs. Smith’s charity after her death, it also provides substantial extra income and tax benefits for her as long as she lives.
For decades, planned giving has been a sound tool to help believers develop long-term strategies to sow seed in the most effective ways to benefit everyone involved. To assist my partners and friends of the ministry with these opportunities, we have established a Planned Giving Department to share information that will be a powerful, continuing blessing to you and your loved ones, as well as to this ministry.
I have asked Tim Whitsitt, Planned Giving Director, to help each interested partner make informed decisions about the practical, strategic ways to bless your own loved ones while honoring God through planned giving.
Take a few moments to let us know your interest in planned giving so we may assist you with additional information. Your generous support of the Lord’s work will be an enduring testimony of your faith as together we seek to win the lost at any cost!
For souls,
The parts in bold print I thought interesting and have put my thoughts in italics
This is his "Planned Giving" ...
Annuities—Gifts That Give Back
Would you like to contribute to charity while creating a guaranteed, fixed lifetime income stream at rates above CD rates? Did you know that you can contribute to Benny Hinn Ministries while increasing your income and financial stability and at the same time reduce your income taxes and estate taxes?
Through a Charitable Gift Annuity, you or both you and your spouse would receive tax benefits and guaranteed lifetime payments while supporting ministry efforts.
This is how it works: with a Charitable Gift Annuity agreement, you transfer cash or marketable assets (minimum of $10,000) to Benny Hinn Ministries through Trust Counselors Network. We guarantee to send you fixed payments for the rest of your life as well as the life, perhaps, of a second annuitant. Upon the death of the last annuitant, the foundation you designate receives the remainder of the funds. In essence, on your part, the transaction is partly a charitable gift and partly the purchase of a stream of income.
Many Benefits for You
In addition to meeting your philanthropic objectives, a Charitable Gift Annuity offers you many other benefits:
You would receive guaranteed and possibly higher payments.
Charitable Gift Annuity payments are based upon the amount of the gift, whether it involves cash or appreciated securities, your age and that of a joint annuitant, and when you want the payments to begin.
The lifetime payments you receive are based on the American Council on Gift Annuities’ recommended payout rates, which take into consideration all these factors.
If you fund the Charitable Gift Annuity with low-dividend stocks, your guaranteed payments might actually be higher than your dividends.
( am I reading that right? is it saying you might have to pay in more than you get out?)
And you eliminate your worries about the volatility of stock prices because your payment will always be the same, regardless of whether the stock market is up or down.
( But it doesn't guarantee your dividends will be any good remember!)
Income-Tax Savings
A portion of the payments you receive from the Charitable Gift Annuity is usually tax free or taxed at the lower capital gains tax rate. And you are eligible to claim a charitable income-tax deduction on part of the transaction in the year you make the gift, and perhaps additional years.
Estate-Tax Savings
Money you put into a Charitable Gift Annuity is usually not subject to estate or gift taxes.
An Inexpensive Agreement
Because of the simplicity of a Charitable Gift Annuity agreement, it is usually not necessary to incur legal fees in the transaction. Nonetheless, many people feel comfortable having their attorney review the agreement, and we suggest you do so.
( But doubtful they would because they trust him!)
Funding Your Charitable Gift Annuity
To fund a Charitable Gift Annuity, most people use cash or appreciated securities such as stocks or bonds. Some also fund it with real estate. If you use appreciated securities, you will avoid paying immediate capital gains tax. However, some taxable capital gains may be included in your income.
(Hmmm)
A Valuable Financial Tool
If you would like to examine the advantages that you could personally derive from having a Charitable Gift Annuity, call us, or have Tim Whitsitt, Planned Giving Director, develop an illustration tailored just for you.
( Is that like a cartoon version )
If you decide to proceed, Tim Whitsitt will give you a one-page application to complete and will coordinate the simple agreement and transaction.
We appreciate your consideration of a Charitable Gift Annuity with us! It is a partnership that will provide many benefits to all concerned in tremendous ways.
Sample Illustration
Mrs. Smith, a 73-year-old widow, owns stock that has appreciated to $300,000. Her cost basis is $25,000. She receives dividend income from the stock of $7,500 per year, about a 2.5% return. After tax, her net income is $5,400 a year. If she sells the stock, she will incur almost $41,250 in capital gains taxes.
Mrs. Smith decides to give the stock to her favorite charity through a Charitable Gift Annuity. As a result, she partially bypasses the capital gains taxes, saving about $20,464. She also receives an income-tax deduction of $111,623. Her actual tax savings is $31,254—additional money to invest, spend, or save. Plus, her income increases to $23,400 per year.
Further, Mrs. Smith’s annuity payments are taxed much more favorably than her stock dividends. About half of the income, $11,466, is taxed at ordinary income rates (25%), or $2,867. Another portion, $10,943, is taxed at the federal capital gains rate of 15%, or about $1,640. The remaining $990 is not taxed at all.
Because of the various tax advantages, the actual effective pretax rate of Mrs. Smith’s payments from the Charitable Gift Annuity is 9.5%. Compare that to the 2.5% return from her stocks!
Her Charitable Gift Annuity not only provides much-needed funding for Mrs. Smith’s charity after her death, it also provides substantial extra income and tax benefits for her as long as she lives.
For decades, planned giving has been a sound tool to help believers develop long-term strategies to sow seed in the most effective ways to benefit everyone involved. To assist my partners and friends of the ministry with these opportunities, we have established a Planned Giving Department to share information that will be a powerful, continuing blessing to you and your loved ones, as well as to this ministry.
I have asked Tim Whitsitt, Planned Giving Director, to help each interested partner make informed decisions about the practical, strategic ways to bless your own loved ones while honoring God through planned giving.
Take a few moments to let us know your interest in planned giving so we may assist you with additional information. Your generous support of the Lord’s work will be an enduring testimony of your faith as together we seek to win the lost at any cost!
For souls,