You can make a gift (bequest) to the WCFFF through your will or living trust in the following ways:

• A gift of a specific amount.
• A percentage of your estate. In using this approach, you do not need to set a specific amount, as it adjusts with the size of your total estate.
• A residual amount, in which the chapel receives a portion of the residue of the estate. The residue is the amount after all specific gifts, obligations, and set goals are covered.
• A contingent bequest, in which the chapel receives a gift only if other conditions are met. For example, you give $25,000, provided that your spouse does not survive you.

To make a bequest, please provide the following information to your attorney when you update your will. Sample bequest language:

“I give [describe dollar amount or percentage of the estate total or residue] to the Wayfarers Chapel Fund for the Future, a California public benefit nonprofit corporation, for its general purposes. The Wayfarers Chapel Fund for the Future is located at 1621 W. 25th Street #430, San Pedro, CA 90732.”

The language you use within the brackets above depends on the nature of your gift: cash, percentage, or residual bequest. Leaving a percentage or portion of your estate in total or residue allows the size of the gift to vary over time with changes to the size of your estate. The portion in bold font is the legal description that should be used in any bequest language.

• Wayfarers Chapel Fund for the Future’s Federal Tax I.D. number: #46-1981500
• Use the fund’s legal name: Wayfarers Chapel Fund for the Future

Please note that you can change, remove, increase, or decrease the amount of any bequest in your will to reflect your intentions and goals.

You can list WCFFF as a beneficiary of your retirement plan (IRA, 401(k), etc.), donor-advised fund, brokerage account, or life insurance policy. Almost any financial arrangement that allows you to name a beneficiary can be repurposed to benefit the chapel with all or part of its remaining value. You will need:

• Wayfarers Chapel Fund for the Future’s Federal Tax I.D. number: #46-1981500
• Use the fund’s legal name: Wayfarers Chapel Fund for the Future
• Wayfarers Chapel Fund for the Future’s address: 1621 W. 25th Street #430, San Pedro, CA 90732

With retirement plans, you can also donate directly from the retirement plan to the WCFFF, or any qualified charity or nonprofit organization, each year on a tax-free basis. For example, you could switch your required minimum distribution, or “RMD,” to a qualified charitable distribution, or “QCD.” Instead of getting the distribution sent to you and paying taxes on it, you could have it sent directly to the charity, in this case the chapel. The distribution would be excluded from your taxable income, and the chapel would get the full amount.

If you receive a $10,000 RMD and have a 40% effective tax rate, for example, you will receive $6,000 after taxes. But if you switch the RMD to a QCD, naming the chapel as the recipient, the chapel will receive the full $10,000, with no tax obligation for either party. Please note that there are age (70.5 years old) and amount ($108,000) limitations subject to change. As this change would entail a direct transfer of assets from the retirement plan, please contact your retirement plan manager to discuss and set up distributions (all, a percentage, or a specific amount).

A gift of life insurance that you no longer need can be one of the easiest ways to support the chapel. You can either designate the chapel as a beneficiary, or transfer ownership of the policy to the chapel. If you transfer to the chapel now, you may be entitled to an income tax deduction. Simply ask the insurance company for the forms necessary to change the beneficiary or to transfer ownership of the policy to the chapel.

Use the WCFFF’s legal name, Wayfarers Chapel Fund for the Future, and Tax I.D., 46-1981500. Keep in mind that WCFFF can be named the beneficiary of just part of a policy (50 percent, for example), and that gifts from group life or term policies are also possible.

For annual and other planned giving, please consider a gift from appreciated stock, securities, or related liquid assets. If you have assets that have gone up in value with an embedded capital gain, you can give them directly to the chapel, or any qualified nonprofit organization, without creating a taxable obligation on that capital gain. The WCFFF gets the full amount of the gift, no taxes are due, and you can treat the full amount as a tax-deductible donation. Depending on the embedded capital gain, this tax deduction can be more valuable than the original amount invested.

To give securities, please direct your brokerage to transfer appreciated, transferable assets to the WCFFF’s brokerage account with the details below. Once received, the chapel’s brokerage will sell the assets to minimize any market risk and then transfer the cash proceeds to the chapel, with no tax obligations due. The chapel gets the full amount of the proceeds, including the benefit of the embedded capital gains, from the appreciated assets.

Transfer assets from your account to:

M&T Bank
DTC# 0990
Account Number – 119673-007
Account Name – GCOFNJ WAYFARERS FUND FOR THE FUTURE

For an endowment gift of $250,000 or more, WCFFF will establish an endowment bearing the name(s) you designate. In this way, your family’s name will always be connected to this particular gift.

If you have any other ways or types of assets that you’d like to consider gifting to the chapel, please contact us.

Thank you again for your interest in supporting the future of Wayfarers Chapel.