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Leave a Legacy
By planning your gifts, you can play a role in Associated Ministries’ future. One of the best ways to ensure that Pierce County’s underrepresented will continue to have a voice, that the churches of Pierce County will have a common forum, that low-income families will have opportunities to succeed is by guaranteeing Associated Ministries will be around for decades to come.
Making a planned gift to Associated Ministries could provide financial benefits, too:
• Tax deductions
• Estate tax savings
• Avoidance of capital gains tax on the transfer of appreciated assets
Include AM in your will
One of the easiest and most common of all planned gifts is a bequest. When you create or revise your will, you should obtain the assistance of an attorney. The Finance and Development Directors are available to work with you and your attorney to discuss how you can include Associated Ministries in your estate plans.
The following are examples of language that can be included in a will for various types of charitable bequests:
Specific Bequest:"I give (amount of $) OR (all my right title and interest in the following described property...) to Associated Ministries of Tacoma-Pierce County, a Washington nonprofit corporation, to be used in such manner as the Board of Trustees of said Associated Ministries shall in its discretion determine," (or state gift condition).
Residuary Bequest: "I give the residue of my estate to Associated Ministries of Tacoma-Pierce County, a Washington nonprofit corporation..."
Proportional Bequest: "I bequeath (a stated fraction of my estate) to Associated Ministries of Tacoma-Pierce County, a Washington nonprofit corporation..."
Contingency Bequest: Insert the contingency language in one or more of the above provisions. For example:
"In the event that (name of spouse, child) shall not survive me, then I give the same to Associated Ministries of Tacoma-Pierce County, a Washington nonprofit corporation..."
Gift or Bequest of Charitable Remainder Trust: A trust established by will or separate agreement would state:
"Upon the death of (name of spouse, child), the trustee shall distribute all of the then remaining principal and income of the trust, other than any amount due to (spouse, child), to Associated Ministries of Tacoma-Pierce County, a Washington nonprofit corporation..."
**language courtesy of the Tacoma Rescue Mission
Retirement Plans and Life Insurance
IRAs, paid up life insurance plans, and other retirement plans are increasingly popular and easy ways to make a planned gift. As in a bequest, you may list Associated Ministries of Tacoma-Pierce County as a beneficiary (either as a single beneficiary or with other charities or family members) or as a contingent beneficiary in retirement plans or in paid-up life insurance policies.
Endowments
The gift that keeps on giving!
Endowments are often referred to as the gifts that keep on giving. Endowments are permanently invested by Associated Ministries, and the income generated by that investment is used for the purpose you wish to support – building and capital projects, day-to-day operations, programs, supplemental salary support for staff, and much more.
A portion of the income is reinvested each year, enabling the endowment to grow and provide a permanent stream of income over time. We invite you learn more about the many endowment options available to support your area of interest.
AM Endowment Options
Associated Ministries offers three endowment options:
Building & Capital Endowments: Associated Ministries is proud of its history working in the midst of the populations it serves. By endowing AM’s building and capital projects you will help ensure that AM continues to provide services in up-to-date facilities that accommodate clients, host community partner events, and provide a sanctuary for those seeking help.
Organizational Endowments: Gifts that fund Associated Ministries’ day-to-day work enable the organization to recruit outstanding, experienced employees who contribute to the dynamic environment of service, dialogue, and thoughtful responses to critical issues. These gifts allow AM to provide necessary staff trainings, expand services, and improve community outreach. You can make a difference by contributing to AM’s existing endowment or establishing a new endowment to specifically support an element of general operations.
Programmatic Endowments: Endowments that support programs and special initiatives at Associated Ministries ensure the long-term viability of important advocacy, representative responsibilities in the faith community, and public service activities that make Associated Ministries an essential Pierce County and Washington State organization.
Endowment Basics
There are basically two types of endowment – a "pure" endowment and a "quasi-endowment."
Pure Endowments: Pure endowments are those funds that have been given to Associated Ministries by an individual, group of individuals, or organizational donor with explicit instructions, or other language indicating the donor’s intent, that the value of the gift be invested and held in perpetuity. With a pure endowment, only Board-approved distributions from the endowment are spent to support the AM’s activities. Only a donor (as opposed to Associated Ministries) can permanently restrict funds.
Quasi-Endowments: Alternatively, quasi-endowments are funds that have been given to Associated Ministries by an individual, group of individuals, or organizational donor without the restriction that the gift be held in perpetuity. Quasi-endowments may also include expired term endowments. Some donors choose to establish term endowments stipulating that the value of the gift be kept intact for a specified period of years, after which time the gift should be expended, in increments or in full, per the terms of the gift.