Leaving a Legacy
Fair Street Reformed Church has been integral to the Christian community in Kingston for over 170 years. We know you share our belief that keeping the Church vibrant and strong is essential for the health of the larger community. You can assure the legacy of our church through investments in our financial stability.
Recent gifts have provided funds for church maintenance, such as roofing and paint. Gifts also support our ministry to our community such as Kingston’s domestic violence shelter the Washbourne House, the Warming Center, and outreach to homebound members and friends.
There are many ways you can help build that legacy. You can invest now in our Christ-centered mission and facility or develop legacy gifts to build our endowment. Some alternatives for legacy giving are described below.
As tax laws are complex and changing, and each individual’s case is different, we suggest consulting your financial planning and tax advisors for full explanations of the implications.
If you have any questions call the office 338-7722, or speak to a member of the Stewardship Ministry Team, and we’ll be happy to help you.
Gifts of Cash
Gifts of cash make an immediate impact on our church’s mission. You can make a contribution by clicking here and completing our online donation form. Your gift will be processed quickly and safely.
Gifts of Retirement Assets
You may not need all of your retirement assets during your lifetime. When you must draw down your IRA at age 70 1/2 you can donate that amount to the church and avoid the income tax. This benefits you, while the church receives the full gift value pre-tax. Alternatively, retirement assets may be designated for the church in your will.
Gifts of Stocks and Bonds
Donating appreciated securities, including stocks and bonds, may provide an income tax deduction and/or tax avoidance. Giving appreciated stocks or bonds may avoid capital gains tax as well as a charitable income tax deduction.
For help transferring stock or bonds from your brokerage or investment account to the church contact Jill. Your tax advisor will be able to clarify the value of your gift.
Gifts of Insurance
A gift of a life insurance policy is an excellent way to support the church. You could purchase a policy naming FSRC as beneficiary or simply make FSRC the beneficiary of an existing policy. You can also transfer the ownership of the policy to the church.
Gifts of Property
Donating appreciated real estate – your home, vacation property, condominium, undeveloped land, or commercial property – can make a great gift. By making a gift of real estate you avoid paying capital gains tax (if due) on the sales of the property, receive a charitable gift deduction, and leave a lasting legacy for the church.
Your real property may be given to Fair Street Reformed Church by executing or signing a deed transferring ownership. You may deed part or all of your real property to the church. Tangible personal property, such as cars, art, or jewelry may also be donated. Your gift will be based in the property’s fair market value, which may be established by an independent appraisal.
Difficult Property Gifts – We have adopted policies to limit the acceptance of certain kinds of real estate. Please check with us before making a gift of real estate so we can explain our gift acceptance policies.
A bequest is a gift made in your will. Unrestricted bequests allow us to use your gift for our most urgent need. Bequests can be your entire estate, specific amounts, or a percentage of your estate. We can help with specific language for your attorney.
Charitable Remainder and Lead Trusts
Trusts are life-income plans. With a Charitable Remainder Trust your gift of cash or property is transferred to a trust that pays you regular income. At the end of the designated period the principal goes to FSRC.
In a Charitable Lead Trust you create a trust that pays out fixed amounts to FSRC for a set number of years. The remaining principal goes to your beneficiaries.