Planned Gifts to The Advance
The Advance is an official United Methodist program for voluntary financial giving. It is resident within the structure of Global Ministries. Financial gifts made through the Advance support specific, approved mission programs or personnel. The Advance is called "second-mile giving"; the "first Mile" is fulfilled by each church's contribution to World Service and other apportioned funds and conference benevolence commitments.
James and Sue Kim Lee are in their 60's and have been married for over 40 years. Both retired, James served as a pastor and Sue Kim a teacher. In 1995 James and Sue Kim spent a summer working in the Philippines, helping to establish the Farmers' Assistance Program. They would like to make a gift to the Advance World Hunger Program but are having trouble financially making ends meet, as their monthly retirement income has not been able to keep up with rising inflation. During their working years they were able to accumulate a significant stock portfolio but the dividends are only providing a very small yearly income for the couple and the capital gains tax would be prohibitive if they were to sell the stock outright.
A Global Ministries, Current and Deferred Giving staff explained to Sue Kim and James that a Charitable Gift Annuity with their stock portfolio would enable them to make a larger gift to mission, and at the same time receive an increased current income which would be guaranteed for the remainder of their lifetimes plus, an immediate tax benefit of a charitable deduction. Also, James would have peace of mind just knowing that Sue Kim would have greater security, if and when needed.
· Please note the information on this site does not constitute legal or tax advice. Please consult your attorney, tax preparer, or estate specialist. Individual circumstances will vary.
