Answers in Genesis is dedicated to its mission of proclaiming the absolute truth and authority of the Bible with boldness, and to delivering the message of the gospel, both individually and collectively. As part of this effort, our planned giving service works to help our supporters become better stewards of all that God has entrusted to them. The following story illustrates one way in which you can help in this effort to reach others with the good news of the gospel of Jesus Christ and stand with us to challenge our lost and hurting culture with the truth of God’s Word, thereby storing up for yourselves treasures in heaven (Matthew 6:19–21). Here is a real-life example of how God allowed one couple to give to Answers in Genesis through a part gift, part sale of their asset as told by John Pence, director of planned giving services.
Larry and Carol bought some undeveloped land in beautiful upstate New York many years ago. They had planned to use the land for development, or possibly to build a second home, so that they could enjoy their summers with family in the country. However, as time went on, Larry’s work kept him busy and the opportunity escaped them before Carol and Larry had the time and financial resources to build on or develop the land.
Over the years, that land increased in value. It now is worth much more than what they paid for it.
With the children out of the house, they were thinking of selling the property, but also wanted to avoid paying too much in tax on the sale. They thought of making a gift of 50% of the property to Answers in Genesis.
Carol and Larry talked with AiG’s planned giving department and learned that if they gave a 50% interest on the property to Answers in Genesis, they would receive two benefits: an income tax deduction for the value of the gift and they would save on capital gains tax on the 50% interest given away.
We at Answers in Genesis appreciate your ongoing prayers and financial support, which enable us to continue our mission of impacting the culture with the truth of God’s Word, and calling the church back to the authority of the Scriptures, all for His glory and honor. You can learn more about this and other planned giving strategies and how you can partner with us at GenesisGift.org.