HAVE YOU CONSIDERED YOUR LEGACY?
Welcome! We’re glad you’re here and look forward to supporting you in finding ways to continue your legacy with Mile Hi Church for generations to come.
The Mile Hi Church Foundation, established in 1983, is a nonprofit organization entirely dedicated to supporting the long-term financial stability of Mile Hi Church. We provide education on how you can best support the Church, based on your individual needs and goals, and on stewardship of an endowment of which Mile Hi Church is the sole beneficiary.
We make your hopes and dreams for Mile Hi Church possible. Come explore the many ways your contributions can make a difference!
CHARITABLE GIFT ANNUITIES
You can make a gift for the Foundation’s future benefit and retain fixed lifetime annuity payments for yourself or other beneficiaries. There are a variety of tax and financial benefits from a gift annuity.
A portion of the income from the gift may be tax-free. Capital gain taxes can be minimized if you use highly appreciated assets to fund your gift.
Additionally, you are entitled to a substantial income tax deduction in the year you make the donation.
BENEFITS FROM RETIREMENT PLAN ASSETS
Many people find that their retirement plan assets represent a significant portion of their total net worth. Yet retirement plan assets can be costly for owners to pass on to their heirs after their lifetime.
Your estate can save significantly on both income and transfer taxes if you make Mile Hi Church Foundation a beneficiary of your individual retirement account, pension, 401K, or other retirement savings plan. You also can arrange to make the Mile Hi Church Foundation an alternative or contingent beneficiary.
CHARITABLE REMAINDER TRUSTS
For many years, people have used charitable remainder trusts to assist with personal, financial, tax, and philanthropic planning. It’s an excellent opportunity for donors, as private individuals, to have a tax-exempt trust working for them. The charitable remainder trust is a proven way to provide for the Foundation’s future while satisfying personal and family financial needs.
A Charitable Remainder Trust is a gift plan that allows a donor to provide income to him/herself and/or others while making a generous gift to charity. The income may continue for the lifetimes of the beneficiaries, a fixed term of not more than 20 years, or a combination of the two.
CHARITABLE LEAD TRUSTS
A Charitable Lead Trust is a gift plan that allows an individual to retain ultimate possession of an asset while making a generous gift to charity.
The donor transfers assets, usually cash or securities, to the Trust. The donor receives an income tax deduction equal to the value of the income stream promised to the charity.
During the Trust’s term, the assets are invested. Each year, the trustee pays either a fixed percentage of the Trust’s current value or a fixed dollar amount to charity. These payments are used for the charitable purpose the donor designates.
Although the Trust’s term may be for one or more lifetimes, a specific number of years (10-20 years is common) is almost always used. Payments are made out of trust income, or trust principal if the trust income is not adequate.
When the Lead Trust term ends, its charitable payments cease and the trust returns all of its accumulated assets back to the donor.
RETAINED LIFE ESTATES
A Retained Life Estate is a gift plan that allows an individual to donate his/her home or farm to a charity while retaining the right to live in it for the rest of his or her life.
While the donor retains the right to live on the property, he/she continues to be responsible or all routine expenses — maintenance fees, insurance, property taxes, repairs, etc. If the donor later decides to vacate the property, he/she may rent al or part of the property to someone else, or sell the property in cooperation with the charity.
When the retained life estate ends, the charity can then use the property or the proceeds from the sale of the property for the purpose the donor designates.
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