What is the Frazer Charitable Trust Fund?
The Frazer UMC Charitable Trust Fund is a permanent endowment fund established by the church in 1990 to permit church members and others to make gifts to the church and its ministries. These gifts can continue to give for extended periods of time, even beyond the donor’s lifetime.
How does it work?
Your charitable tax-deductible gift will be pooled with other gifts into any of the Frazer trust funds that you specify. The interest realized from the gifts will be used as specified by the trust fund. As the funds become larger, the principal within the fund grows, and in turn, so does the ministry at Frazer. Your gift remains with the fund, but it continues to give each year, every year, perpetually.
Who manages the fund?
Frazer’s Nominating Committee selects a Board of Trustees to serve three year terms members who are professing Christians committed to the goals of this Charitable Trust Fund. Working in partnership with the Alabama-West Florida United Methodist Foundation, the trustees provide godly, wise management of all gifts so that the principal is maintained and maximum income provided. The Board of Trustees has the authority and responsibility to approve acceptance of any and all gifts.
What are the tax benefits?
Besides the satisfaction of knowing that you have assisted in strengthening the cause of Christ through one of these ministries, a gift to Frazer UMC Charitable Trust Fund can:
- Provide a reduction in your taxable income
- Help you avoid capital gains taxes
- Eliminate or reduce your estate tax at little or no loss to other beneficiaries
The Frazer Charitable Trust Fund Coordinator and your tax advisor can help you determine which of these benefits applies to you.
How can I give?
There are many ways for you to give a gift that continues to give:
- Cash Contribution. Donate cash as a gift.
- Bequest in your will. Add Frazer Church as a residual beneficiary to your will after other bequests are fulfilled.
- Real Estate Gifts. Donate gifts such as land, houses or buildings. The property can be donated outright. In the case of a home, you retain the full rights and duties of ownership and benefits from your home for the rest of your and your spouse’s lifetime.
- Stocks, Bonds, or other securities. Make a gift of appreciated stocks held long term, and receive at tax deduction for the “current market value” of the securities. Avoid paying capital gains tax by giving appreciated securities, and be able to give more to the church at no greater cost to you.
- Life Insurance. Participate in a program through the church, and make the church the beneficiary. Selected premiums are to be paid annually through the Charitable Trust and would be tax deductible.
- Life income plans such as a Charitable Gift Annuity can also be funded with stocks, bonds, or real estate to provide lifetime income for you, as well as a tax deduction and gift to this ministry.
Can my gift be designated?
There are approximately twenty-four funds to target a variety of needs at Frazer. Contact the church administrator or the charitable trust coordinator (272-8622) for a list of all the trust funds available. Categories include Missions, Scholarships, Programs (e.g. youth, older adult, special events, etc.), and General (provides funding for a variety of ministry opportunities).
Named funds and memorials
Donations to these funds in any amount are welcome. Named scholarship may be established by making a minimum donation of $5,000 in memory of a person. Persons making contributions in excess of $100,000 may create a named trust fund, memorial or honorarium, so long as it is consistent with the purpose of the church.
Now he who supplies seed to the sower and bread for food will also supply and increase your store of seed and will enlarge the harvest of your righteousness. You will be made 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 9:10-11