Planned Giving – A Lasting Legacy for God
"For where your treasure is, there will your heart be also." — Matthew 6:21
Giving is integral to the Christian walk of faith. Giving is an act of worship. By contributing to what The Church at Horseshoe Bay is doing in our community and beyond, we are using what God has given us to share the good news of Jesus by serving others.
Gifts are important to the church, but they are also important to the giver. Each of us has a need to give, a need to contribute, a need to make a difference. We need to feel connected not only to significant projects and institutions but also to the generations that preceded us and those that will follow. Giving expresses our gratitude to God, our priorities in life, and our faith in the future.
The best giving plans make a difference in the lives of others and improve your own financial and/or tax situation — often right away.
What is Planned Giving?
Planned Giving helps to leave a lasting legacy…for God. It helps The Church at Horseshoe Bay do its work for years ahead. We hope you will discover the joy of giving to those who need your help far into the future.
Planned Giving normally takes one of two forms:
- Giving larger amounts of money from current assets, usually in a tax-efficient manner for the giver.
- Making The Church at Horseshoe Bay part of your estate plan.
Planned Giving usually benefits the Endowment Fund for The Church at Horseshoe Bay (read about the purpose of the church’s Endowment Fund here – need link), but funds can also be used to benefit a special current need or mission of the church. Planned Giving makes a special impact for years to come. These gifts allow The Church at Horseshoe Bay to continue its mission to be “…the arms of Christ in our time and place…” for decades into the future.
For help with your Planned Giving, please see the options that follow and contact Kena Pearson at the church office at 830-598-8390 or
Planned Giving – Options
- Gifts of Stock
- Gifts of Real Estate
- IRAs, Retirement Accounts, and Annuities
- IRAs and Qualified Charitable Distributions (QCD)
- Life Insurance
- Wills and Living Trusts
- Bank and Investment Accounts
- Charitable Trusts and Gift Annuities
A brief description of these options and how to implement them can be found by clicking on each option noted above.
Disclaimer: The Church at Horseshoe Bay does not provide tax, legal, or accounting advice. The information provided on this page is for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
- Planned Giving – Gifts of Stock
You can give stock directly to The Church at Horseshoe Bay. It can be especially advantageous to gift stock that has appreciated significantly in value, thereby avoiding payment of unnecessary taxes.
Your financial advisor can provide you with additional information about how this works. The church office can provide account instructions on where to transfer the stock.
- Planned Giving – Gifts of Real Estate
The Church at Horseshoe Bay can receive significant long-term benefits from the donation of real estate. Gifts of real estate can be very simple or complex. There can be a simple transfer of real estate during the lifetime of a person or upon death. Or you may want to donate a home now and continue to live in it the rest of your life, while benefitting from a significant tax deduction at the time the real estate is donated.
Before you begin the process of donating real estate, please contact the church office to ensure we will be able to accept your generous gift.
- Planned Giving – IRAs, Retirement Accounts, and Annuities
Do you know who you have named as the primary beneficiary on your IRA or 401K?
How about your contingent (secondary) beneficiary?
These retirement accounts (and others like them) are tax-deferred; you don’t pay taxes until you withdraw the money.
Many annuities work in a similar manner to IRAs and Retirement Accounts.
Accounts like these may be subject to estate taxes if your estate is large enough at death. None of these assets flow through your Will or Living Trust; they go directly to your beneficiary.
Please consider The Church at Horseshoe Bay as the primary or contingent (secondary) beneficiary on your IRAs, Retirement Accounts, or Annuities. You can even name several beneficiaries by stating a percentage amount for each beneficiary. Because accounts like these each have separate beneficiary forms, you will need to use the form provided by each institution, many of which allow you to make these adjustments online. Naming The Church at Horseshoe Bay as a beneficiary has no impact on your ability to control and spend these funds during your lifetime, but you can have a lasting impact on the church doing God’s work.
Here's how to make this happen:
Primary Beneficiary:
The Church at Horseshoe Bay, Horseshoe Bay, TX 78657, EIN 74-2261932, (__%)
OR
Contingent (Secondary) Beneficiary:
The Church at Horseshoe Bay, Horseshoe Bay, TX 78657, EIN 74-2261932, (__%)
- Planned Giving – IRAs and Qualified Charitable Distributions (QCD)
A qualified charitable distribution (QCD) allows individuals who are 70½ years old or older to donate up to $100,000 to The Church at Horseshoe Bay directly from a taxable IRA instead of taking their required minimum distributions (RMDs). As a result, donors may avoid being pushed into higher income tax brackets and prevent phaseouts of other tax deductions, though there are some other limitations.
People who hold IRAs are required to take RMDs each year beginning at age 72 - even if they don’t need or want the funds. This income increase could potentially push the taxpayer into a higher income tax bracket. It can also trigger phaseouts that limit or eliminate some kinds of tax deductions.
QCDs are also called IRA charitable distributions or IRA charitable rollovers. They enable individuals to fulfill their required minimum distribution by a direct transfer of up to $100,000 to The Church at Horseshoe Bay. And because QCDs reduce the balance of the IRA, they may reduce required minimum distributions in future years. QCDs are also not counted toward the maximum amounts deductible for those who itemize their giving on their taxes - the $100,000 can be above and beyond those limits.
Please contact your Financial Advisor and the church office to make this happen.
- Planned Giving – Life Insurance
You may have a life insurance policy that is no longer essential to your estate. Such a policy makes an excellent gift to the church. Life insurance policies have primary and contingent (secondary) beneficiaries, just like IRAs and Retirement Accounts. Leaving your death benefits to The Church at Horseshoe Bay will leave a legacy of spreading the borders of God’s Kingdom well into the future.
Please consider The Church at Horseshoe Bay as the primary or contingent (secondary) beneficiary of your Life Insurance Policy. You can even name several beneficiaries by stating a percentage amount for each beneficiary. You will need to use the form provided by the insurance company, many of which are online.
Here's how to make this happen:
Primary Beneficiary:
The Church at Horseshoe Bay, Horseshoe Bay, TX 78657, EIN 74-2261932, (__%)
OR
Contingent (Secondary) Beneficiary:
The Church at Horseshoe Bay, Horseshoe Bay, TX 78657, EIN 74-2261932, (__%)
- Planned Giving – Wills and Living Trusts
Whether you use an attorney or an online legal service (like LegalZoom) to prepare your Will or Living Trust, naming The Church at Horseshoe Bay as a recipient of a gift of any amount or percentage will help perpetuate the work of the church into the future.
Charitable gifts must be made from your estate or living trust with specific language, such as the following:
“I give and bequeath to The Church at Horseshoe Bay, Horseshoe Bay, TX 78657, EIN 74-2261932 $xxxxx.yy (or xx% of my estate).
- Planned Giving – Bank and Investment Accounts
You can also transfer bank, credit union, and investment accounts (non-IRA) to The Church at Horseshoe Bay upon death. You can do this by putting a POD (Payable on Death) or TOD (Transfer on Death) designation on these accounts to:
The Church at Horseshoe Bay, Horseshoe Bay, TX 78657, EIN 74-2261932
This is a routine event for financial institutions, so please ask them for the appropriate forms. They will be happy to help, and the work of the church will benefit far into the future!
- Planned Giving – Charitable Trusts and Gift Annuities
There are several additional ‘sophisticated’ structures to provide meaningful, long-term gifts to The Church at Horseshoe Bay along with tax advantages to the donor. For example:
- A Charitable Remainder Trust (CRT) is an irrevocable trust that generates a potential income stream for you, or other beneficiaries, with the remainder of the donated assets going to The Church at Horseshoe Bay.
- A Charitable Lead Trust is an irrevocable trust designed to provide financial support to one or more charities for a period of time, with the remaining assets eventually going to The Church at Horseshoe Bay.
- A charitable gift annuity is a contract between a donor and the church that provides the donor a fixed-income stream for life in exchange for a sizable donation.
These and other creative options are available and provide significant benefits to both the donor and The Church at Horseshoe Bay. Please contact the church office to discuss options and opportunities to make a difference for the souls of many!
For More Information
For help with your Planned Giving, please contact:
Kena Pearson
Chief Financial Officer
Church Office: 830-598-8390
Email:
Ken Burgess
Endowment Committee Chair
Email: