If you have appreciated property to contribute, such as real estate, stocks and bonds, you may want to consider a charitable remainder trust. With a charitable remainder trust, you transfer assets that you are ready to dispose of to a trust, prior to the sale of the assets. The trust sells the assets and pays you a percentage of the market value of the assets for life or a fixed term not to exceed 20 years. At the end of the term the assets pass to Stroke of Faith, Inc. You will receive an immediate income tax deduction for a portion of your contribution to the trust and pay no immediate capital gains tax on the appreciated assets that you donate. A Charitable remainder Trust may also be established by a will. A lawyer is needed to draft a Charitable Remainder Trust.
PLEASE NOTE: You should consult your attorney and/or tax advisor to determine if this type of gift is appropriate for you.