Family Foundations
Advantages in forming a UYM Charities Charter Churches (Family Ministries)
— Effective Philanthropy.
The Charter Church (Family Ministry) vehicle may facilitate organized, systematic, and targeted giving plus a small 2 % annual percentage to UYM Charities Parent Organization programs.
— Deductibility Plus Control.
Donors may make tax-deductible donations to their own Family Ministry and, as Family Ministry trustees, remain in control of the investment and management of the funds as well the final disposition of the gifts.
— Sheltered Income Plus Control.
Family Ministry investment income, held by the Family Ministry trustees, is exempt from taxation.
— Consistency in Giving.
Family Ministries may choose if and when to distribute such accumulated funds (or the income earned on accumulations).
— Payment of Reasonable Compensation.
Family members and others may receive reasonable compensation from the Family Ministry in return for services rendered.
— Reimbursement of Travel and Other Expenses.
Reasonable and direct costs of site visits and board meetings may be paid by the Family Ministry to family members, employees, and trustees.
— Double Capital Gains Tax Benefits.
Capital gain is not realized when appreciated property is donated to a Charter Church (Family Ministry). Donors may also claim a charitable deduction for the full market value of appreciated stock held in publicly traded companies.
— Estate Tax Reduction.
Assets transferred to Charter Church (Family Ministry) are not subject to estate taxes. This may provide triple tax savings when combined with the above benefits.
— Public and Community Relations.
If desired, Family Ministry grant-making may bring recognition to the Family Ministry.
— UYM Charter Churches (Family Ministries) Fund-Raising.
The Family Ministry may plan and execute fund-raising events in support of the needy and bring public awareness. Project and marketing material must be approved by the parent organization compliance team and include UYM’s mission statement, 10 % of net proceeds must be provided to UYM Charities Parent Organization.
Optional Additional Benefits
UYM offers assistance with News Releases, Grant Writing and Fund Raising Events. Fees for services are paid to UYM Charities Parent Organization.
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