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Questions about gift planning
- Does CFCA accept gifts of stock and marketable securities?
- CFCA welcomes your gifts of stocks, bonds, mutual fund shares and other marketable securities. Donated securities for income tax purposes are valued as of the transfer date. There are additional tax incentives for appreciated securities. For more information, please visit our gift planning pages.
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- How do I donate my stocks and other securities?
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Electronic transfer instructions for stock donations are included below. For physical transfer instructions of stock and for transfers of all other securities, please contact a gift planning representative.
To initiate a transfer of stock, please notify your broker or financial institution that you wish to make a donation to Christian Foundation for Children and Aging. The transfer will be made electronically via DTC to our account with Bank of Kansas City. Please note that Bank of Kansas City is an affiliate of Bank of Oklahoma. Your financial institution will require the following information:
Bank of Kansas City
c/o Brent Varzaly
4600 Madison Ave., Suite 800
Kansas City, MO 64112
Tel: Direct 816-932-7302
Email: bvarzaly@bankofkansascity.com Transfer instructions are as follows:
To DTC no. 901 (Bank of New York)
For the benefit of no. 016071 (Bank of Oklahoma)
With further credit to account no. 71-9968-03-4 (CFCA)
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- Does CFCA accept gifts of retirement assets such as IRAs, annuities and life insurance policies?
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Many sponsors and donors utilize their will or trust for bequests to their family and designate retirement assets as gifts to charity. Certain retirement assets such as life insurance policies may be transferred to CFCA during your lifetime. Other assets such as your qualified retirement plan, life insurance policy or annuity contract may simply require an update to the beneficiary designation. Naming CFCA as a beneficiary ensures that all or a designated portion of the proceeds will be transferred to CFCA after your death. Please contact a gift planning representative to discuss your proposed gift.
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- Can I make a direct tax-free gift to CFCA from my IRA for 2013?
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Yes, H.R. 8, the American Taxpayer Relief Act of 2012, recently extended the IRA Charitable Rollover Donation retroactively for all of 2012 and is currently set to expire on December 31, 2013. This provision allows taxpayers age 70 ½ and older to make tax-free qualified charitable donations up to $100,000 per year from traditional and Roth Individual Retirement Accounts.
As special consideration for the retroactive legislation, H.R. 8 further stipulates that donations made directly to qualifying charities from January 1, 2012 through January 31, 2013 will qualify as 2012 IRA Rollover Donations. Direct distributions from IRAs received by charities after February 1, 2013 and before December 31, 2013 will qualify as 2013 IRA Rollover Donations.
Gifts of appreciated stock and other marketable securities may be another consideration for 2013. Donated stock and marketable securities are fully tax deductible and valued as of the transfer date. In addition, the donor pays no tax on the stock's appreciated value. Please contact a gift planning representative to discuss the current IRA Rollover provision and other gift planning options.
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- Does CFCA accept gifts of real estate, oil and gas mineral interests, vehicles, jewelry and other non-cash assets?
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We appreciate the creativity and generosity of our sponsors and donors. CFCA does not generally accept large in-kind donation of products. However, we evaluate all gift offers prior to acceptance, based on need, liquidation value and other factors. Please contact a gift planning representative to discuss your proposed donation.
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- Does CFCA qualify for employer matching gifts?
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A growing number of employers match current and retired employees' gifts to CFCA. We are especially thankful to our many sponsors and donors who have discovered the ability to double and triple their contributions with matching gifts from their employers. Currently, CFCA receives matching gifts from more than 100 employers nationwide. Check with your human resources department for the required forms and to confirm that CFCA is on your employer's list of approved charities.
CFCA designates 100 percent of employer matching gifts to the CFCA Scholarship Program, which provides direct financial support to older students who have distinguished themselves through their educational goals, leadership potential and desire to serve their communities.
Use our online search tool to find out whether your company has a matching gift program.
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- Does CFCA have a charitable gift annuity program?
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Yes. A charitable gift annuity is a relatively simple contract between you and CFCA. In exchange for donated assets, you will receive a partial charitable deduction and guaranteed income for a specified period or your lifetime. This giving option is not currently available in all states. Please contact us for more information regarding charitable gift annuities and availability in your state.
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- Does CFCA have an endowment fund?
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An endowment fund offers a donor the opportunity to make a permanent or lasting gift to a designated charity. The donation is considered permanent because the gift value or principal is never utilized — only the income earned on the invested principal is available for use by the designated charity.
The families and communities served by CFCA have immediate needs that must be addressed to the best of our ability. While we appreciate the desire of our sponsors and donors to make a gift that will provide permanent funding to the organization, restricting the use of your donation to its income-generating potential would mean that the immediate needs of so many would go unaddressed.
CFCA prefers the approach of accepting semi-permanent gifts that provide long-term funding, but are not so restrictive that the gift itself cannot be used in part to support our current program initiatives. Please contact us for other long-term gifting options.
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- What are my options for a permanent gift?
- Currently, CFCA does not offer an endowed or permanent gift option. Your personal financial adviser can make recommendations regarding charitable trusts, or permanent gifts to CFCA made through a charitable foundation or financial institution. By using one of these options, an outside organization will manage your donation and make periodic payments to CFCA. Please contact a gift planning representative for other long-term gifting options.
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- I am considering an estate gift to CFCA. Do you offer sample language to be included in my will or trust?
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Estate or legacy gifts are contributions designated to a charitable organization that go into effect after the donor's death. Remembering Christian Foundation for Children and Aging in your will or trust ensures that your walk with those living in poverty continues while creating a lasting legacy for someone you care about.
Many of our sponsors and donors have requested sample language to be used in their will or trust for general contributions to CFCA or to provide ongoing benefits for their sponsored friends. Suggested language for a bequest to CFCA in your will or trust is included below. Other sample language, including beneficiary designations for life insurance and retirement assets, is provided on our Resource Library page. Please contact us for additional information or assistance.
Sample bequest language to benefit the general purposes of the organization:
"I give, devise and bequeath to Christian Foundation for Children and Aging, fully incorporated under the laws of the State of Missouri (Federal tax identification number 43-1243999), the sum of $___________ or _________% from my residuary estate. I direct this gift to be used for the general purposes of the organization where the need is greatest."
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- How can I provide for continuation of benefits to my friend after my death?
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Many sponsors include a provision in their will or trust to benefit their sponsored friends. Others have chosen to pay their sponsorship forward and to establish additional funds for future education needs or emergency medical assistance. Suggested language for your will or trust is included below and provided on our Resource Library page. Please also contact a gift planning representative for additional information or assistance.
Sample bequest language for continuation of sponsorship benefits — includes funding for medical assistance and costs of higher education:
"I give, devise and bequeath to Christian Foundation for Children and Aging, fully incorporated under the laws of the State of Missouri (Federal tax identification number 43-1243999), the sum of $___________ or _________% from my residuary estate for the benefit of my sponsored friend, (name of child or aging person) (CH number) of (country), for the continuation of his/her sponsorship and to provide additional funding as needed for medical purposes, and higher education or vocational training. If my sponsored friend has left the program or has no assessed need for additional assistance, any residual funds may be used for others sponsored by me, or applied to the scholarship fund or general fund at the discretion of CFCA."
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More questions?
