The purpose of the FLC Endowment is to help fund many projects that happen at First Lutheran Church. Some of the big items that Endowment funds have been used for in the past are, The Organ Fund, Peace and Power Upgrades and maintenance, The Video Projectors, Parlor Updates, Stained Glass Windows, New South Entrance and the Youth Commons Area to name a few. The Endowment fund is used every year to help fund the general budget to help all the programs and general business occur at First Lutheran Church.
Ways to give
Cash: Cash gifts are welcome any time and provide immediate tax benefits.
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 First Lutheran Church and for you to receive tax benefits based on the fair market value of the asset. Other appreciated assets, like real estate, may be gifted, but it is important to discuss these in advance with First Lutheran.
Real Estate: Real estate may be deeded outright to First Lutheran or left by request. The irrevocable gift of property may provide an immediate tax deduction and avoid capital gains.
Life Insurance: Make a gift of a policy or buy a policy making First Lutheran the owner and beneficiary.
Bequest: There are many ways in which you may bequeath assets to the church. Bequests to First Lutheran Church are always excluded from your taxable estate and provide a very simple way to share your life’s blessings and leave a legacy. You may choose a specific item, a percentage, or a residual bequest. You may also choose to make First Lutheran 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 First Lutheran Church as beneficiary enables the asset to pass tax free to First Lutheran Church. You may also make First Lutheran a percentage beneficiary or a contingent beneficiary of a retirement plan.
If you have already made a planned gift to First Lutheran Church, please let us know so that we can THANK YOU properly!
If you are interested in learning more about how to make a planned gift or to have a confidential discussion about opportunities to give please contact:
Kara Heinemann at First Lutheran Church Albert Lea
301 West Clark Street
Albert Lea, Minnesota 56007