There are many ways to make planned gifts to Camp Arcadia. Below are the most popular options. Questions about any of these may be directed to Chip May at the Camp Arcadia office (see right for contact information).
Do you have a will? It is a basic question, but one that many people prefer to not answer. We don’t like to think about our will because we don’t like to think about life after we are gone.
The sad reality that as many as 60% of Americans don’t have a valid will. A will is an important final way to tell family and charities what is most important to you.
A will simply directs those we leave behind how to divide up what is left. When instructions aren’t given, chaos can ensue. That is when relatives fight with each other and tension enters relationships.
A will can also be a statement of what was important to you. It can be a final way to teach your kids that they were important to you, but so were some ministries that are making a difference in the world.
Contact your attorney to make a will or to add a codicil to your will to include Camp Arcadia. Camp Arcadia, unless otherwise directed will place gifts received through wills into the Camp Arcadia Foundation. This Foundation will enable Camp to keep fees low, launch new programs, and care for facilities. Your gift will qualify you to become a Camp Arcadia Legacy Builder. Ask Exec. Dir. Chip May about this.
One of the easiest ways to make a gift to Camp Arcadia is through life insurance. Simply, you can make Camp Arcadia a full or partial beneficiary of a life insurance policy that you own or intend to take out.
Another way to leave a life insurance gift to Camp Arcadia is to make the camp the owner of the policy. Then, you can send a gift to Camp Arcadia each year to pay the premium. The annual premium payment will qualify as a gift to the ministry each year and so may be tax deductible. Camp Arcadia will then make the annual payment to keep the policy current. Ask Executive Director Chip May about this.
Individual Retirement Accounts are often the best gift you can leave a Camp Arcadia through your estate. The reason is that traditional IRA’s have tax consequences for your children or other individuals. They can take the IRA either as a lump sum or paid out over years, but there are taxes due.
Camp Arcadia gets to avoid the taxes due and therefore can place the entire amount of the IRA into use for the ministry.
Giving through an IRA is very simple too. You don’t need an attorney. Simply call your IRA administrator and tell them what you want to do. They will get you the form right away.
Additionally, in 2013 Congress has passed legislation where you can give directly from your IRA to a charity. Your gift counts towards your required minimum distribution for the year and it does not count as income to you (there is no gift tax credit, though). Ask Executive Director Chip May about this.
Charitable Gift Annuity
Are you wanting to make a gift to Camp Arcadia, but you still need income from your money today. A charitable gift annuity may be right for you. Here is how it works.
You transfer an asset, or fund a Gift Annuity to a certain level. Then based on your age, you will receive a guaranteed payout for life. A portion of this payout each year will be eligible for a tax deduction and the original gift to fund the gift annuity is partially deductible.
Charitable Gift Annuities are great for people looking to guarantee and often to increase the income stream off a an asset. It is important to note that once you place an asset into the Gift Annuity that you cannot get it back, but you do get the income each year for life. Ask Executive Director Chip May about this.
Some friends of Camp Arcadia have found huge advantages to setting up a Charitable Trust to benefit the camp. Charitable Trusts work two ways.
Remainder Trusts: With a remainder trust, the donor gifts an asset to the trust (often to avoid capital gains taxes), then the donor receives an income for life, or a period of years from the trust. It is also possible to grant your children or grandchildren a period of time to receive that trust income. Following the prescribed time period, the trust assets are then transferred to Camp Arcadia.
Lead Trusts: These work opposite of remainder trusts. In a lead trust, the charity receives an income stream from the donated assets for a period of years. Following the term of the agreement the asset transfers back to the original donor or to whoever the donor designates.
Both Remainder trusts and Lead trusts require professionals to set them up. Camp Arcadia is able to use the services of the LCMS Foundation that has small fees, but a long history of servicing these charitable vehicles. Ask Executive Director Chip May about this.
For more information about planned giving contact:
-Camp Arcadia Exec. Dir.
PO Box 229
Arcadia, MI 49613
send Chip a Message