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Peter and Gail were nearing retirement. Over the years, with the help of their financial advisor, they had made solid investments in securities and built a sizeable portfolio. While their investments increased substantially in value, their potential capital gains tax bill was rising. With retirement on the horizon, they were looking for a way to sell their highly appreciated stock, generate income for their retirement, and avoid paying high taxes.
Peter: "For many years we had supported the work of Nazarene Compassionate Ministries. Through an email from the Foundation we learned that we could make a gift of our stock to NCM and bypass the potential tax cost we were facing. I was thrilled to learn that after transferring our portfolio to a Charitable Remainder trust, the trust would sell the stock tax free."
Gail: "I liked the fact that the trust would provide us with income for our retirement years. If something happened to Peter, I would still be taken care of for the remainder of my life. We decided to give our stock to NCM and take advantage of this plan. The Foundation handled everything for us, and now our stock is being used to help us and to help ministry."
Peter: "When I heard that in addition to the other benefits we would receive a charitable deduction for the gift, I was thrilled! I think everyone nearing retirement ought to set one of these up. It's a great way to make an impact with our assets and solve our tax problems."
**Note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since your benefits may be different, please contact us for more information.