First United Methodist
Church of Gilford

We are a church of Open Hearts, Open Minds, and Open Doors

Another Stewardship Story of Planned Giving

Phil Anthropist and his wife became discouraged over some stock in their portfolio that, for years, had yielded only 2% annual income—and sometimes less. These stock shares, now valued at $100,000, had originally cost them $35,000. They were reluctant to sell the stock due to the tax bite on the $65,000 capital gain. But, now retired, they wanted more annual income than this portion of their portfolio had been providing.
After consulting with their tax accountant and a staff member of their United Methodist Founda-tion, Phil and his wife transferred the stock to the United Methodist Foundation. The UMF sold the stock and created a Charitable Remainder Annuity Trust with a payout of 6 %. Now their annual income from the $100,000 is $6,000, paid to them quarterly. They avoided any tax on the capital gain, and also re-ceived a substantial charitable income tax deduction which they can carry forward for up to five years.
Mr. and Mrs. Phil Anthropist have designated that, at their deaths, the remainder of the annuity trust will be divided as follows:
70% to their United Methodist Church Endowment Fund where their gift will yield annual income for local church ministries for generations to come.
20% to an Ecumenical Food Pantry in their city that helps to feed individuals and families in need.
10% to the United Methodist Foundation that offers Christian Stewardship education in their Annual Conference and offers grants to local congregations for significant start-up ministries.
Phil and his wife now enjoy the additional income and are pleased to know that their charitable gift will continue long after they are gone. Their story is a fine example of how thoughtful and strategic Christian Stewardship can benefit both the donors and the beneficiaries of Planned Gifts.
For more information about Charitable Remainder Trusts and other forms of Planned Giving, contact our church office or a member of our Endowment Committee (Barbara Madden, Gail Tapply, Jerry Albert, Dick Evans, or Pastor Tom).

First United Methodist Church of Gilford-Laconia, Inc.
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