We hope that Christ the King is a significant part of your life and that you will consider taking the necessary steps to support our church’s future.

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In his letters to the early Christians, the Apostle Paul encourages us to be generous

and cheerful givers. He teaches us to give as we have decided in our heart to give. Paul

equates giving with ‘thanksgiving.’

Y ou will be madc rich in every way so that you

can be generous on every occasion and through us your generosity will result in thanksgiving to God.’ 2 Corinthians 9:12

Did you know that you can give to Christ the King in a variety of ways; not just through Sunday morning plate offerings, but in creative ways that allow you to use

your assets in addition to your income? Thanks to our Endowment Fund, Christ the King members and supporters can make charitable contributions to the church in just the same way they might donate to any other charity.

Your gift may be made in many different ways:• Outright giftsCashPublicly Traded Securities Real PropertyTangible Personal Property Other Property• Planned GiftsBequestsLife EstatesLife Insurance Policies Life Income Programs Retirement Plan Gifts

CHrist tHe KinG endoWment Fund, inC.

Christ the King Episcopal Church, Santa Rosa Beach, FL

Plan for the Future

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Christ the King Endowment Fund, Inc. Mission Statement:

The purpose of the organization is to provide a contribution method for Christ the King Episcopal Church of Santa Rosa Beach, FL. Members and supporters of the Church will be able to use the fund for contributions, and directors of this orga-nization shall direct investments of funds contrib-uted, with a portion of these funds contributed pe-riodically to Christ the King. •

History of Christ the King:

Christ the King Episcopal Church actually began in 1985 as the South Walton Bible Fellowship. The group quickly grew and the need was recognized for an Episcopal church in south Walton County. Christ the King was recognized as a Mission Station by Bishop Charles Duvall on Easter Sunday, 1986, thus marking the first new Episcopal Church in Walton County in 100 years. In 1988, using land that had been purchased by St. Andrews on Highway 98, the new congregation built a doublewide modular structure to a custom design, which served the parish for 10 years. Later, a gift of 15 acres of heavily wooded land was given to the parish, and on September 14, 1998, the new church was consecrated by Bishop Charles Duvall. It sits at the end of a long, winding driveway surrounded by a forest of majestic pine and magnolia trees. A covered walkway links the church to the Sandefur Hall and then continues around to a separate building that houses classrooms, nursery, and the Hughes Library. Lush gardens of azaleas and camellias fill the spaces surrounding the buildings. Standing in the courtyard known as “Gahagan’s Garth” is a lighted fountain. We are proud to have come from “St. Doublewide” to what is widely considered the most beautiful church in the area, truly a church in the Wildwood. •

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CHrist tHe KinG endoWment Fund, inC.

Leave your Legacy

to ensure that Christ the King will thrive years from now, the principal of these

gifts will be conserved and distributions will be made from earnings to the extent required by irs regulations. When a donor makes a gift to the endowment, the church agrees to manage and maintain that gift in perpetuity. You do not have to be wealthy to give. You may make gifts in memory or in honor of friends and family. many planned gifts offer certain advantages to both the donor and the church.

What is the Endowment? The purpose of the Christ the King

Endowment Fund is to help maintain projects and ministries which are part of the life of Christ the King Episcopal Church. The fund contains donations that are invested for the long term. Unlike current-use gifts, which are spent completely for immediate needs, endowed funds are invested and the church may

only spend a small portion of the income on those investments each year.

What Projects Could Be Supported by the

Endowment?Examples of Endowed Ministries: Spiritual Enrichment Youth Programs Congregational Needs Facilities

Who Do I Contact About Making A Gift to the

Endowment?Please contact Fr. Frank Cooper at 850.267.3332 or email fmcooper4@earthlink.net.

Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven. Matthew 5:16

The Endowment could help fund youth and education programs at Christ the King.

Giving to the

Christ the

King endowment

Fund can take

many forms. We

encourage donors

to explore ways that

are best for them.

options available

through planned

giving offer creative

alternatives that

often benefit both

donor and recipient.

Here are some

charitable gift ideas

that are beneficial

and simple to

execute.

Before making a final

decision, please consult

with your professional financial

advisor.

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Frequently Asked Questions

FAQ’sthe purpose

of the

following is to

provide general

information

in response to

questions you

may have. it is

not intended

to provide

specific advice or

recommendations

for any individual.

We suggest you

consult with

your attorney,

accountant

or tax advisor

with regard to

your personal

situation.

Finally, a donor may designate a charity as the beneficiary of a life insurance contract that he or she continues to own. Although the donor will not receive an income tax deduction for the gift, he or she will receive a charitable estate tax deduction for the amount of the death benefit passing to charity. Donors can also name a charity as a contingent beneficiary, providing the charity with the death benefit in the event that the primary beneficiary predeceases the donor.

Is it Possible to Give Something to Charity and

Still Receive an Income for Life? Yes. There are a couple of ways to receive a lifetime income stream from a gift to charity. One way is through the use of a charitable remainder trust (CRT). It works like this:

• An asset is put into a special trust called a charitable remainder trust that is regulated by federal law, and is invested.

• The donor receives an income tax deduction for part of the value of the gift and income from the trust for his or her lifetime or for a term of years.

• After the donor passes away, the money remaining in the trust is distributed to charity. This is an irrevocable gift.

If a donor has an appreciated asset (such as stock or real estate that has increased significantly in value), the income stream from the CRT could be greater than if the donor sold the asset outright and invested for income. This is because charities (unlike an individual) do not have to pay capital gains taxes on the sale of appreciated assets. Thus, the full, fair market value of the asset can be reinvested to provide income back to the donor. A donor who makes a gift of appreciated stock or real estate to a CRT is entitled to a charitable income tax deduction that is a portion of the full, fair market value of the contributed asset.

their charitable goals and acknowledging (financially and spiritually) their gratefulness to God, donors may receive tax benefits and lifetime incomes through several types of tax-favored plans.

Planned giving takes many forms and is tailored to meet the needs and goals of the donor.

How Can Life Insurance Be Used to Make Charitable

Gifts? Charitable gifts of life insurance provide an easy way for the donor to make charitable contributions with minimal current costs. In many instances, a gift of life insurance involves a small out-of-pocket premium each year, yet produces a significant benefit to a charity.

There are many ways to make a charitable gift of life insurance. First, an existing contract may be given to charity, in which case all ownership rights must be assigned to the charity, and the charity named as beneficiary. If no further premium payments are due on the contract, the donor will receive a charitable income tax deduction for the lesser of the replacement value of the contract or the total value of the premium payments paid. However, if premiums remain to be paid on the contract, the donor will receive a charitable income tax deduction for the lesser of the interpolated terminal reserve value of the contract, or the total value of premium payments paid. The donor will also receive additional deductions for future premium payments.

Second, a donor may purchase a new contract naming the charity as beneficiary. If the donor makes an absolute assignment of the contract to the charity, the donor will receive a charitable income tax deduction for each premium payment made on the contract. As long as the charity is the owner of the contract, the proceeds will be excluded from the donor’s estate.

Do I Need a Will?Yes. Without a will, the laws of the state

will determine who will receive your assets and who will manage your estate. A will allows you to appoint a guardian for your minor children, choose a representative to carry out your wishes, and determine the final destination of your estate assets.

Making a charitable bequest (i.e., giving assets to charity through a will) is the simplest way to make a planned gift. The donor states in his or her will the amount or percentage of assets that are to pass to a designated charity. The donor receives an estate tax deduction for the amount of the bequest. There is no limit on the amount that can be deducted for estate tax purposes.

Some may wish to designate their church or favorite charity as the “residual beneficiary” of their estate. A residual beneficiary receives the balance of an estate after all other distributions have been made.

What is Planned Giving? “Planned giving” means mapping out a

plan for making gifts to church and charity. A caring person integrates planned giving into his or her financial strategies during different phases of life. Many individuals consider planned giving when they decide how to transfer their estates to the places and people whom they want to benefit from a lifetime of hard work. In addition to fulfilling

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Another way is through a charitable gift annuity. A charitable gift annuity is a private contractual agreement between a donor and a qualified charity that meets the requirements of the state of the donor’s residence. It works like this:

• A donor gives an asset, such as cash or stock, to a qualified charity that meets the state regulatory requirements for offering gift annuities. The Endowment Fund offers gift annuities that may benefit the congregation.

• The charity signs a contract agreeing to pay the donor a fixed income throughout his or her lifetime. The tax benefits include a charitable income tax deduction for the value of the charity’s interest, as long as the donor itemizes deductions on his or her income tax return, capital gains deferral, gift tax deductions and estate tax deductions. This is an irrevocable gift.

What are the Advantages to Making a Charitable GIft During

My Lifetime? A donor who is going to make a gift to charity must decide whether to make the gift while living or at death. Making a charitable gift while living provides several benefits over making a gift at death, including:

• A charitable income tax deduction.

• The removal of future appreciation on the asset from the donor’s estate.

• The option of receiving an annual income stream each year in return for the gift.

• The opportunity for the donor to see his or her gift being put to good use.

In addition, making a lifetime gift, just as with a gift made at death, removes the value of the gifted asset from the donor’s estate, reducing any associated estate tax liability.

Can I Receive a Charitable Income Tax Deduction for Making a Gift

of Securities? Yes. In fact, if your securities (stocks or bond funds) have appreciated since you first bought them and if you have owned them more than a year, you can gift them to charity at a significant discount to you.

Can I Leave a Significant Gift to Charity While Not Depleting My Children’s

Inheritance? Yes, through the use of “wealth replacement” life insurance. Using this technique, a donor transfers assets to charity. In return, the donor will be entitled to a charitable income tax deduction and, depending on the gift, may receive an annual income stream in return. These tax savings and/or income payments may be used to pay the premium payments on a life insurance contract with a face value equaling the value of the gifted asset. If an irrevocable life insurance trust or adult children hold the life insurance contract, the value of the contract will be excluded from the donor’s estate. Upon the death of the donor, the beneficiaries of the contract will receive the death benefit income-tax and estate-tax free. It is a win-win-win situation for the donor, the charity and the donor’s family.

How Can I Ensure That My Assets Go To My Heirs, Not the IRS? By

planning carefully, you can control how much goes to your heirs, a charity or Uncle Sam. You can leave as much as you want to your spouse without paying estate taxes (the marital deduction). In addition, you can ensure that the IRS gets less of your estate by making charitable gifts. The charitable estate tax deduction is unlimited. If you have a sizable estate, consider how charitable giving can shrink your estate for tax purposes. It provides an opportunity for you to support causes that are important to you. You do not have a choice about whether to give your estate away, but you do have a choice about who will ultimately receive it.

What are the Benefits to Leaving My Qualified Retirement Plan Assets to

Charity? Here’s one example: If you leave your qualified-plan balance to someone other than your surviving spouse or charity, it could be subject to extreme income and estate taxation. The amount of tax depends on the size of your plan and the marginal income tax bracket of the beneficiary. The reason for this excessive taxation is that Congress intended the plans for retirement, not inheritance.

Many people find that they do not need the retirement income that these plans provide, so they let their plans continue to grow tax deferred. If you have planned to leave your qualified assets (and nonqualified tax-deferred assets such as nonqualified annuities) to children or others, you may want to examine the potential tax implications. One alternative could be to name a charity as beneficiary of the assets, thereby avoiding all income and estate taxation and providing a benefit to your community.

What Are the Benefits of Making a Charitable Gift

Through My Will? Charitable bequests (i.e., assets given through a will) provide substantial tax benefits and may be the most appropriate charitable giving technique for a person who is charitably inclined and yet wants to retain control of the assets during his or her lifetime. A donor who makes a bequest to a charity will be entitled to a charitable estate tax deduction for the value of the charity’s interest, effectively removing the value of the gifted asset from the donor’s estate. The simplest way to make a charitable bequest is to make an outright bequest of an entire asset. In return, the donor’s estate will get a deduction for the fair market value of the asset on the date of death. However, a donor may also make a bequest of a partial interest in an asset (such as a gift to a charitable remainder trust). The donor’s estate will receive a deduction for the present value of the charity’s interest in the asset. No matter which technique is used, the tax advantages to the donor can be significant.

Please Note-The purpose of this publication is to provide general gift giving information. Neither the author nor this organization is engaged in rendering legal or tax advisory service. State laws govern wills, trusts and charitable gifts made in a contractual agreement. For advice and assistance in specific cases, the services of an attorney or other professional advisor should be obtained.

and make a difference for future generations.

Christ the King

endowment Fund

480 north County

Highway 393

santa rosa Beach, FL

32459

(850) 267-3332

www.christthekingepiscopal.org

Plan your gift today

Copyright © 2013 by Christ the King Endowment Fund, Inc. All rights reserved.

Publisher: Christ the King Endowment Fund, Inc. Editor: Crawford Sandefur, 2012-2013 Endowment Fund Chair Designer:Outright Social Communication