Giving can come in all shapes and sizes—and it doesn’t just have to be money. Donors have often generously surprised and blessed us with gifts that we were either able to use or sell. These gifts are used to further the cause of Christ and spread the message of biblical authority and the gospel in a world that so desperately needs to hear it.
Here’s an example story of how you could bless us with a non-monetary gift that can help both yourself and us.
Jonathan purchased a home many years ago for $80,000, but the home has appreciated substantially over the years and is now worth $420,000. Jonathan eventually decided he wanted to sell his home and move into a retirement community. However, he realized that even after using his $250,000 home exclusion, he would still face high capital gain tax from the sale of the property. Jonathan thought maybe he could sell his home, avoid the high tax, still obtain a little more income for his retirement, and make a gift to us to further the gospel.
So Jonathan called his advisor and discovered that he could transfer his home in exchange for a large fixed annuity payment, based upon his age. Because the home was extremely marketable, it could be sold quickly, and Jonathan would avoid capital gains tax on the sale portion. His home exclusion could be used to offset the remaining capital gain on the income he received from the annuity contract. He was delighted with this because he was able to avoid the high tax and received fixed payments so that he doesn’t have to worry about market fluctuations. And, best of all, he was able to use what God had blessed him with to pour into a ministry that furthers the gospel!
If you would like to partner with us to help spread the gospel and the message of biblical authority to a culture and church that is rapidly rejecting God’s Word, please visit GenesisGift.org.