Gifts of Appreciated Securities or Other Property

Gifts of securities or other property which have greatly appreciated in value can offer substantial immediate tax benefits to you and your family. The gift is recorded on the Church books at the value on the date the gift is given, so you receive an immediate tax deduction at the appreciated value without having to pay the capital gains taxes which otherwise might be payable if you had sold the security and given cash. This type of gift is frequently used by Pebble Hill members to pay part of their annual pledge. It can also be used for Memorial and Endowment Fund gifts.

Should you have occasion to make final arrangements for a loved one, you will have the opportunity to provide a living memorial to the decedent by suggesting to friends and family that they make a gift to Pebble Hill Presbyterian Church Memorial Fund in lieu of flowers. Gifts of any size are welcome and all will be acknowledged. You will be informed of the total amount donated in memory of your loved one.

The Memorial Fund: The lives and talents of loved ones, both living and deceased, may be honored and remembered by gifts to the Memorial Fund. Gifts of any size are welcome. This fund is also the repository of gifts to the church in lieu of flowers. Both principal and income of the Memorial Fund may be utilized for the mission and ministry of Pebble Hill Presbyterian Church.

The Endowment Fund: Gifts and bequests to the Endowment Fund are a way to make a major gift to the life and ministry of Pebble Hill Presbyterian Church that will go beyond one’s lifetime. Some donors will decide to give an amount of money that will yield annually the amount of their regular yearly pledge after they have moved away or died. Or you may wish to make a substantial gift that will continue or expand a ministry that is of particular significance to you. Principal of the Endowment Fund will be invested in accordance with the Church’s investment policies. Income will be used as instructed by the donor or, if unrestricted, as determined by the Memorial Gifts and Endowment Committee.

The Memorial Gifts and Endowment Committee: Members of the Memorial Gifts and Endowment Committee are available to help you "Compose Your Legacy" and find answers to any questions you may have. Feel free to contact the Chairperson or the Pastor to move forward with this important endeavor.

The Committee administers the Memorial and Endowment Funds and other Special Funds of the church. It consists of three persons elected by the congregation and two representatives from the Session. The committee reports annually to the Session and the congregation.

The Presbyterian Church (U.S.A.) Foundation: Some donors may wish to compose their legacy by using the services of Presbyterian Church (U.S.A.) Foundation. Our denomination’s Foundation has administered the gifts and bequests of faithful Presbyterians since 1799 providing a steady stream of income to churches, missions and charitable institutions as designated by the donors. Besides offering professional management of gifts, a local Foundation Development Officer is available to lend expertise in designing a gift or bequest, or to help you gather the information you need to plan your estate properly. You can seek guidance with the assurance that your wishes will be respected and, if you desire, held in strict confidence. They can be contacted at 800-858-6127, on the world wide web at www.presbyterianfoundation.org, or by speaking to the Pastor or a member of the Memorial Gifts and Endowment Committee.

Worshiping God through music, sermons, prayers and daily deeds has been a vital part of the Pebble Hill Presbyterian Church community for many years. Through our worship, teaching, and service to others we rejoice, give thanks and celebrate the blessings God has provided. The melodies of our lives and the poetry of our souls are nourished and enriched by God at work here in this place.

You can help assure this tradition continues by "composing your legacy" of faithful stewardship and planned giving through the writing of your will.

Peace of mind and harmony of soul comes from thoughtful estate planning. By taking time to "compose your legacy" and write your will, you can ensure that your wishes and intentions for your heirs, and other important interests, are accomplished. For instance, careful planning can result in minimizing taxes for the benefit of your loved ones while simultaneously providing support for your church and its ministries. You may be surprised how a modest asset can be turned into a song of God’s praise that can go on for generations.

Wills and Bequests

The first step in "Composing Your Legacy" is to write a will. You should be aware that the State of New York has prepared one for you that will apply if you fail to write one yourself, but it most likely won’t accomplish your wishes, nor sing the praises of your faith that resonate with your life. A well thought-out will continues your stewardship of what God has given you on into the future, so we urge that you consult with your attorney on this important first step. She or he will guide you in considering the various options available to you.

General bequest This is the simplest form of bequest by which your will designates a specific amount, or a percentage of your estate, to the Church without any conditions attached. This is the most popular type of bequest since it is impossible for any of us to predict the needs of the Church 10, 25, or 50 years in advance.

Designated bequest This provides a sum of money for a specific project or program of the Church, such as Christian Education, Mission, Property or Worship.

Residual bequest A residual bequest leaves the remainder of your estate to the Church after all debts, taxes, expenses and other legacies have been taken care of.

Contingent bequest With a contingent bequest, a clause in your will provides for your estate to benefit the Church if your beneficiaries do not survive you.

Life income plans are a way for you to continue to receive income from your investments and provide a future benefit to the Church. They are both a gift and an investment. You may make a gift of cash, securities or other property and continue to receive income during your lifetime. After your lifetime, your gift will benefit the Church or a particular Presbyterian-related cause you may designate. One example, is a Charitable Gift Annuity. In exchange for your gift you and your beneficiaries receive a guaranteed income for life with the remainder of the investment reverting to the Church on the death of your last beneficiary. Frequently, substantial tax advantages can be realized, especially on long term appreciated assets and for larger estates. Pebble Hill uses the services of The Presbyterian Church (U.S.A.) Foundation to explain the benefits and investment opportunities of these plans. We and the local Foundation Development Officer will gladly work with you and your advisors to design a plan most suitable for you.

Gifts of Residence, Retaining Life Use

Gifting your residence and still retaining the use of it during your lifetime is another tool available in creating your legacy. A charitable gift of this type allows tax deductions while retaining all the benefits of ownership.

Gifts of Life Insurance

Life insurance gifts offer the advantage of enabling you to make a large future gift at a small annual expense. You may name the Church as a primary beneficiary and retain ownership of the policy and access to its cash value, or name the Church as a successor beneficiary if your primary beneficiary does not survive you. You can also give the policy to the Church during your lifetime and oftentimes receive current income tax benefits.

Gifts of Retirement Plans

Your IRA, pension plan, Keogh or other retirement account has been building tax-free throughout the years. These accounts will be part of your taxable estate upon your death and unfortunately your heirs will also have to pay income taxes when they receive the remainder of your account. A number of options, which shouldn’t be overlooked, are available to reduce the tax liability without limiting support to your heirs. We can put you in touch with experts who can help you with these more sophisticated solutions.

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