The Foundation

The mission of The Village Chapel Foundation is to support the Christian witness of The Village Chapel and its outreach programs. The Foundation was founded in 1994 to encourage and receive endowments gifts, to invest these gifts, and distribute the income produced by them in Foundation grants or to the designated activities for which the gifts were made. A member of the Foundation Committee will gladly meet with you and your advisor to provide additional information or to explore a method of giving which best meets your situation. Please call (910) 295-6003. Charitable giving may be accomplished in many ways:

CURRENT GIFTS

Cash - The most popular gift and the easiest to give, is the simple gift of cash. If you itemize your tax deductions, you can deduct cash gifts up to 50% of your adjusted gross income. Any excess deductions can be carried forward for up to five tax years.

Appreciated Securities - The dramatic growth in the stock market in the past few years makes giving appreciated securities a very economical way to make a charitable gift. If you have owned the securities for longer than 12 months, you receive a charitable income deduction for the full fair market value of the securities and eliminate the capital gains tax on the appreciation in value.

FUTURE GIFTS

Charitable Gift Annuities - A charitable gift annuity is a simple agreement between you and the Village Chapel Foundation. In exchange for your irrevocable gift, the Foundation agrees to make fixed quarterly payments for life to one or two beneficiaries. A gift annuity can be established with a gift of cash or marketable securities. A charitable deduction is available in the year of the gift and the income received is also accorded favorable tax treatment.

Charitable Remainder Trusts - In a charitable remainder trust, a trust is created and funded with cash or marketable securities. The trust can be designed to pay income to you, you and your spouse, or other eligible beneficiary (ies) either for life or for a number of years. The annual income can be fixed in the case of an annuity trust or vary with the change in value of the trust assets in the case of a unitrust. At the termination of the trust, the remaining principal passes to designated charity or charities. If you fund the trust with marketable securities you have held more than one year, you receive a partial charitable deduction based on the full fair market value of the securities. In addition, you escape capital gains tax on appreciated assets.

Charitable Lead Trusts - The Charitable lead trust has been called the reverse of a charitable remainder trust. In this gift plan the donor assigns the income to a charity or charities with the remainder (at a specified time) being returned to the donor or to other family members.

By Will - There are several ways to include charitable bequests in your will: 1) A fixed amount, 2) A specific item or designated property, 3) As a percentage of the estate, 4) A bequest of the residue, or 5) A remainder of the estate after the life income to a designated individual.