Do you have additional questions that aren’t listed above? Email Biglife at plannedgiving@big.life.
Gifts That Anyone Can Make
Gift of Appreciated Stock vs. Gift of Stock Sale Proceeds
Example comparison
Tom purchased shares of an up-and-coming business for $4,000. After five years, it is now worth $20,000—a growth of $16,000.
Sell and give proceeds to Biglife
If Tom sells the stock shares for $20,000, he must pay taxes on the $16,000 gain.
20% tax on $16,000 = $3,200 taxes due
Gift to Biglife = $20,000 – $3,200 = $16,800
*Assumes 20% capital gains tax
Give Stock to Biglife
But if Tom gifted the stock shares instead of selling first:
- No tax is owed
- Biglife would receive $20,000 worth of stock
- Tom can deduct the $20,000 off his tax return
This information is not intended as tax, legal or financial advice. Gift results may vary. Consult your financial advisor and legal counsel for information and advice specific to your situation.
When gifting stock make sure to complete a Gifting Securities Form to ensure your shares are appropriately sent from your account to Biglife.
Benefits of Giving Stock
Achieve greater Kingdom impact without reducing cash flow.
Receive an income tax deduction for the fair market value.
Avoid capital gains tax.
Frequently Asked Questions
What are the benefits of a gift of securities?
There are a few benefits you will receive when giving appreciated securities that makes doing this a very charitable and rewarding experience. First, you’ll receive a charitable income tax deduction equal to the fair market value of the shares, no matter what you initially paid for them. Second, you will pay no capital gains tax on the transfer.
How do I arrange for a gift of my stock?
It’s important that you contact us so we can provide proper transfer instructions. If you own securities in a brokerage account, we can help you arrange an electronic transfer of shares to our brokerage account. If you possess actual stock certificates, we can tell you how to sign the certificates over to Biglife and fill out a stock power form.
Language for your Will
“I give to Biglife, a nonprofit ministry with its principal offices located at P.O. Box 1975 Blue Ridge, GA 30513 [the sum of $ ___] OR [___% of the residue of my estate], to be used [for its general purposes] OR [(Designated Purpose). If, in its opinion, the need for funds for the designated purpose no longer exists, Biglife is authorized to use these funds for a similar purpose.].”
Frequently Asked Questions
For many Christians, a will serves as an expression of their belief that God owns everything and wants us to properly steward those resources entrusted to us. Writing a will speaks powerfully to future generations about what matters most to you!
Having a will may be helpful for…
- Reducing taxes
- Giving to your favorite ministries in substantial ways
- Minimizing family disputes
- Providing for a family member with special needs
- Transferring a family farm or business
- Avoiding probate expenses and delay
What happens if I die without a will or have an invalid will?
Some sixty percent of American lack will or estate planning. This is unfortunate because in most cases, state laws will determine how your property is distributed upon your death—often in ways that you would not choose. You won’t be able to provide additional help to family members in need, bless friends who have been close to you, or help charities that have meant much to you during your lifetime.
How can I make a bequest to Biglife?
You can give a specific amount of money or an item of property to Biglife. Or you can donate a percentage of the balance remaining in your estate after taxes, expenses and specific bequests have been paid. You can tell us how to use your bequest for a particular program or activity or allow us to use it to fulfill the greatest needs of our mission.
Do you have additional questions that aren’t listed above? Email Biglife at plannedgiving@big.life.
Gifts of Life Insurance, Retirement Assets,
or Other Financial Accounts
Simply contact your life insurance provider, retirement plan administrator, and/or bank or financial institution and file the appropriate beneficiary designation form(s) or payable on death (POD) form(s).*
Legal Name: Biglife International, Inc.
Address: P.O. Box 1975 Blue Ridge, GA 30513
Tax ID Number: 65-1060939
* Laws and designation options vary by state