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1. Cash & Checks:
Cash and checks are the most common way donations are received by the church. The church is required by the I.R.S. to produce statements for all donors who give any single gift of $250 or more. If a gift is less than $250, the donor's written records and/or canceled check are sufficient proof and the I.R.S. does not require written confirmation from the church. (Multiple gifts received by the church on the same day are considered to be one gift by the I.R.S., and if those gifts total $250 or more, the church is required to send the donor a confirmation.) Because some donors wish to have confirmation of all of their gifts, the church provides contribution statements at the end of each year. Contribution statements will be sent to donors in January of every year for the previous tax year.
2. Stock & Mutual Funds
It is possible to transfer stocks and mutual funds directly to the church. If this is done with securities that have been held for more than one year, the donor will be able to deduct the full fair market value of the securities and avoid paying any capital gain tax. If, however, the securities are sold first and then the proceeds are given to the church, the donor will still have to pay capital gain taxes to the I.R.S. A little planning in this area can help you take full advantage of the tax benefits allowed by the government. Please call us for more details before you put any transfer in motion.
3. Real Estate
In general, gifts of real estate have the same tax benefits as giving appreciated securities. If the property has been held for more than one year, the donor can typically take an income tax deduction for the full fair market value and avoid capital gain tax on the appreciated portion of the property. It is also possible that other benefits can include savings in estate taxes and avoiding probate. Please contact the business office to discuss this further.
4. Personal Property
Every year the church is given books, office furniture, computers, automobiles, and more. We gratefully accept all gifts-in-kind that we can truly use, or we try to direct donors to other ministries that have specific needs. Gifts-in-kind can be a little more complicated due to I.R.S. regulations, but we will be happy to help you with the process. Please arrange all gifts-in-kind with the business office before dropping off any tangible property.
5. Life Insurance
Although it is seldom considered, life insurance policies can be given to non-profit organizations. If the original purpose
6. Wills & Bequests
A charitable gift can be given to the church through your will or other estate plans. Such a gift can be very helpful in avoiding estate taxes and can allow the deceased to give specific directions on how their estates are to be divided. If you choose to include the church in your will or estate plan, please let your attorney know the church's name and address. Further, please communicate to your attorney that the church is a 501(c )(3) organization incorporated in the state of Washington and that our tax identification number is 91-1515354. If you have already included the church in your will, please let us know so that we can say "thank you." Don't forget that qualified retirement plans will be considered part of your estate at death, but if handled correctly they can also be deductible from the estate as charitable gifts.
Year End Deadlines
Because all gifts to the church are subject to I.R.S. deadlines, please remember the following when you give at year-end. All gifts must be received by the church before midnight on December
Many of the ways to give mentioned above can be very effective if utilized correctly. Although the staff of the church's business office is ready to help with these gifts, they are unable to give advice on what is best for your situation. Please consult your CPA, financial planner, or tax attorney to get advice tailored to your financial situation before putting one of these gifts in motion. Unless otherwise designated, all gifts received by the church are unconditional and without personal benefit to the donor.
Each day, Northshore Christian Church and Academy makes an impact on the lives of people in this region and beyond. Have you ever considered how you might help make a difference in the lives of others – forever?
A Personal Legacy… If you've decided to shield your heirs from heavy income taxation by making a charitable donation of your retirement plan assets upon your death, simply contact your retirement plan administrator for a change of beneficiary form. Then decide what percentage you would like Northshore Christian Church to receive, and name us (and a specific endowment if you wish), along with the percentage on the beneficiary form. Note that if you are married, your surviving spouse is usually entitled by law to receive the entire amount in certain qualified plans (but not IRAs). Your spouse, however, can sign a written waiver allowing the gift to Northshore. Finally, return the form to your plan administrator, and keep a copy
Learn more about how an Endowment works, what options you have, and how Northshore channels Endowment funding below.
A financial asset donation made to a non-profit group or institution in the form of investment funds or other property that has a stated purpose at the
Endowments provide ongoing benefits for those that receive them by earning a market rate of interest while keeping the core endowment principal intact to fund future years of scholarships, or whatever efforts the donor sought to fund. In some cases, a certain percentage of the assets are allowed to be used each year, so the amount pulled out of the endowment could be a combination of interest income and principal. The ratio of principal to income would change year to year based on prevailing market rates.
When you contribute to an Endowed Fund for the benefit of Northshore Christian Church or Academy you have ensured that your intentional act of generosity and outreach will benefit our evangelistic and educational mission forever.
Earnings from your fund are used to make grants supporting Church or Academy needs and goals. Your gift—and all future earnings from your gift—is a permanent source of capital, helping do good work for His kingdom today and in the future.
With any type of planned gift for the benefit of Northshore Christian Church comes the considerable fulfillment of knowing you are leaving a legacy that will benefit the Kingdom long after you are gone. In most cases, a planned gift also offers one or more of the following:
As an example of how an endowment works, if a $50,000 gift was made on December 31, 2015, to establish an endowment fund, and over the next twenty-five years the fund grew by an average of 7.5% per year with 5% grants of the annual fund balance and 1% administrative fees, in 25 years the fund balance would be $88,550 and the total grants
Legacy and Stability - Donors who endow their gifts can make a difference during their lifetime and, at the same time, provide a gift that lasts forever. Spending will continue through either an existing fund or one that you establish so that your charitable wishes are preserved. Endowed funds give a stability that guarantees that critical areas will receive ongoing support, no matter what challenges lay ahead. Having a constant source of funding helps Northshore Christian Church and Academy respond to emergency needs as well as plan for the future.
Assumptions - The above fund information was based on hypothetical annual returns of 7.50%, administrative fees of 1.00% and an annual distribution rate of 5.00%. Formulas assume half of the distribution occurs
1. Outright Gift of Specific Amount - A Donor may designate that a specified dollar amount, asset or piece of property shall be given to Northshore. For example: I give____________ and No/100 U.S. Dollars ($________) outright to the Northshore Christian Church Endowment Fund established at Northshore Christian Church of Everett, Washington, EIN #91-1515354, or its successor in interest, to be contributed into its Endowment Fund and used for its general unrestricted charitable purposes.
2. Residuary Bequest - A Donor may give the remainder (residue) of his or her estate or trust to Northshore after payment of all debts and expenses of the estate and after specific gifts to other designated beneficiaries have been made. For
3. Percentage Bequest - A Donor may designate a percentage of an estate or trust to Northshore. It is often desirable to couple this type of a gift with a fixed dollar amount. For example: I give outright an amount equal to the greater of: ten percent (10%) of my net residual probate estate; or, Ten Thousand and No/100th Dollars ($10,000.00), to Northshore Christian Church Endowment Fund established at Northshore Christian Church of Everett, Washington, EIN #91-1515354, or its successor in interest, to be contributed into its Endowment Fund and used for its general unrestricted charitable purposes.
4. Contingent Bequest - A Donor may name Northshore as a contingent Beneficiary. A contingent gift would be, for
5. Restricted Bequest - A Donor may prefer to restrict his or her gift to a specific purpose or use by Northshore Christian Church. If so, inclusion of the following language after the gift language would suffice, for example: to be used and directed primarily to the Northshore Christian Church Endowment Fund for the purposes of ___________, subject to the unilateral variance power reserved in Northshore Christian Church as otherwise provided in the Endowment Fund policies of Northshore Christian Church, as amended.
In addition to cash, planned gifts can be made using various type of property:
They can take any of several different forms:
The Board of Elders has identified the following earmarked endowment funds to assist donors in targeting their contributions.
Donor Directed or Earmarked Gifts - Donors may desire to establish earmarked endowed funds in support of designated Northshore ministries beyond those initially targeted by the Elders. In all cases, the Northshore Endowment Committee will attempt to match each Donor’s gift with his or her highest Northshore priorities, interests and ministries.
In general, a Donor’s endowed fund must be in an amount that exceeds the minimum threshold of $25,000 to be maintained as a separate account within the Endowment Fund. Specifically, subject to approval by the Board of Elders, a donor who makes a minimum Endowment Fund contribution [or pledge payable over not more than two (2) years] of at least Twenty Five Thousand and No/100 Dollars ($25,000.00) may identify a new earmarked fund provided that an already existing fund doesn’t already serve the same purpose.
If you are making an Endowment to NCC and do not designate a category, your endowment will be placed in the NCC General Operating Endowment Fund for the area of greatest need.
Professional Investment Management - Northshore has elected to utilize the Community Foundation of Snohomish County (CF-SC) www.cf-sc.org to provide investment management and administration of some elements of Northshore’s Endowment Funds. You can rest assured that your gifts will be managed by professionals who will help ensure that your charitable giving goals are met.
There are a number of types of giving that will make a lasting impact on the ministries of Northshore while also benefiting you and your heirs. View our information on Types of Endowment Gifts and NCC Designated Endowment Funds for more information. We also recommend that you consult with your own financial advisor. For additional information, you can contact Northshore’s Director of Finance for a confidential discussion as noted below.
Dan Richards, NCC Director of Finance
Address: Northshore Christian Church, 5700 23rd Drive West, Everett, WA 98203
Donors may make outright gifts of cash or check into the Endowment fund. The minimum gift accepted for an NCC Endowment fund is $1,000, except that smaller gifts may be accepted during specially designated fundraising events. Checks should be mailed to Northshore Christian Church, Attn: Finance Department, 5700 23rd Drive West, Everett, WA 98203. Checks should be made payable to Northshore Christian Church of Everett, Washington, EIN #91-1515354, and specify one of the following accounts:
Thank you for considering leaving a Legacy with Northshore! We would be happy to talk with you