Giving to Olivet

Giving

Presbyterian Mission Exchange Give Now button

Give online now (to us) through this Presbyterian Mission Exchange web page.

Information on planned giving can be found here.

Making a Planned Gift to Olivet

The purpose of the Endowment Fund is to create a permanent account separate from Olivet’s operating budget, which will encourage and promote a continuing program of gifts and bequests by members and supporters of Olivet: to secure, strengthen, and extend the mission and ministry of Olivet, now and in the future, and to administer such gifts and bequests and income derived therefrom in a financially responsible manner.

The Olivet Presbyterian Church Endowment Fund consists of a Reserve and Memorial Fund, an Undesignated Fund, and several Designated Funds. Designated Funds include Building Maintenance, Scholarship, Missionary and Mission, Local Outreach, Worship and Music. More information about these funds is available from the church office.

Gifts NOW

Appreciated Securities (or other assets): The gift of appreciated securities is most often in the form of common stock or mutual funds. Such a gift is a valuable way to benefit Olivet and for you to receive tax benefits based on the fair market value of the assets. Other appreciated assets, like real estate, may be gifted, but it is important to discuss these in advance with Olivet (see below).

Real Estate: Real estate may be deeded outright to OPC or left by bequest. The irrevocable gift of property may provide an immediate tax deduction and avoid capital gains. Due to complexities, be prepared to work with the Olivet staff and qualified advisors to ensure that this is a suitable gift for both you and for Olivet.

Life Insurance: Make a gift of a policy or buy a policy making Olivet Presbyterian Church the owner and beneficiary.

Gifts that Pay INCOME

Charitable Gift Annuity: The gift annuity is an irrevocable gift of cash or securities where you receive a predictable fixed income for life. At termination, the OPC receives the residual value of the annuity.

Charitable Remainder Trust: The remainder trust is an irrevocable gift of assets into a charitable trust that provides you a fixed (Annuity Trust) or variable (Unitrust) income for life or for a set term. At the trust’s termination, the trust assets become a generous gift to OPC. There are also potential tax benefits depending upon your situation.

Charitable Lead Trust: The lead trust’s income payments are distributed to the church for a set period of years, after which the assets are transferred back to the grantor or whomever the grantor has named the beneficiary. This provides generous annual support for OPC now, removes the asset from the estate and passes an asset to heirs with little or no tax. There is no immediate deduction for the lead trust.

Gifts LATER

Bequest: The bequest is a gift through your will or revocable trust that enables you to retain the asset during your life and provide significant support when you no longer require the asset. You may choose a specific item, a percentage, or a residual bequest. You may also choose to make the Olivet Presbyterian Church a contingent beneficiary in case the heirs are unable to receive the estate.

Retirement Plan Assets: In some cases, retirement assets can be the heaviest taxed assets in an estate. Naming Olivet Presbyterian Church as beneficiary can avoid that taxation, enabling the asset to pass tax free to Olivet. You may also make Olivet a percentage beneficiary or a contingent beneficiary of a retirement plan.

Bank or Investment Account: Financial accounts can be a simple and inexpensive way to make Olivet the beneficiary of a particular investment or bank account.

We hope you will consult with your professional advisers on how this gift would fit into your overall plans.

If you have already made a planned gift to Olivet, THANK YOU!

Please let us know so that we may thank you properly!

If you are interested in learning more about how to make a planned gift or having a confidential discussion about opportunities to give to Olivet Presbyterian Church, please contact: 

James C. Turner  C/O

Olivet Presbyterian Church 2575 Garth Road Charlottesville VA 22901     (434) 295-1367