Giving Out Of Assets Vs. Income
The churches, associations, institutions and agencies of the Kentucky Baptist Convention and Southern Baptist Convention are making a difference for the Kingdom of God in our state, nation and around the world. They are worthy of significant and sacrificial support that will enhance and undergird their missions and ministries.
Perhaps you would like to make gifts above what you give out of income as tithes and offerings to provide on-going support to one or more of these causes, but you may be concerned that such gifts could affect your financial security and that of your family. This lesson will provide ideas about how you may give out of your assets.
Scripture References: Proverbs 3:9; Luke 16:10-12; 1 Timothy 6:7.
Please read these passages in your Bible now.
How Can I Honor God With My Wealth?
“Wealth” refers to your assets, your estate. Tithes and offering giving is, generally, giving out of your income. Honoring God with your wealth means giving out of your assets, whether it’s to a church building program, Baptist college’s capital campaign, or to establish an endowment fund to benefit state, national and/or international missions. This is giving out of your principal cash, stocks, bonds, mutual fund shares, real estate, life insurance and/or retirement assets.
When Should I Honor God With My Wealth?
Giving out of assets can be done during your lifetime through outright gifts, endowment gifts and life income gifts. Consideration should also be given to giving out of your estate at your death through a bequest in your Will or Trust or a life insurance or retirement account beneficiary designation that sets up a gift of a designated amount or share of your estate to pass to one or more charitable causes at your death.
Is There A Way to Make A Gift That Keeps On Giving?
Many people would like to make a gift that provides on-going support to the cause or causes they want to benefit. This can be accomplished through the creation of an endowment fund. An endowment fund is a permanent, perpetual fund created during your lifetime and/or at your death for the support of one or more charitable causes. Only the earnings of the endowment fund are paid to the causes you designate; the original value of what you place in the endowment fund is never distributed. Endowment fund giving provides the opportunity to make gifts that keep on giving.
Prayer Focus: Take some time now to ask for God’s guidance in how you can honor God with your wealth and extend your Christian witness.
Next Week: Appreciated Asset Gifts
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The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.