John and Carla's Story: Giving Your Business to the CRCNA

Shortly after he married Carla, his high school sweetheart, John borrowed $2000 to start a small manufacturing business. Today, more than 35 years later, the business is worth $10 million. John and Carla are ready to sell the business, but they want to give 20 percent to charity. If John sells his business first and then gives out of the proceeds, he would need to use nearly $2.5 million of his stock value in order to make a gift of $2 million. Instead, he follows the counsel  of his financial advisor, giving  $2 million of his business directly to  ministry. He is able to take an immediate tax deduction, and the entirety of their gift will go to charity. 

Frequently Asked Questions 

1. I’m thinking of gifting a portion of my business  to ministry. At what point do I involve you? 
   1. Please contact us, the Barnabas Foundation (US), or Christian Stewardship Services (Canada) as early in the process as possible, so we can help you determine the best strategy. It is critical that your gift is made before any purchase agreement is signed. If you are considering a business gift, contact us right away.  
2. How do I know if my business would make a good charitable gift? 
   1. There are several important considerations, depending on your type of business and how it is structured, as well as your charitable goals and personal situation. We recommend you visit with a Barnabas Foundation or Christian Stewardship Services planner and also work with your trusted professional advisor to determine if a business gift is the right fit for you. 
3. I’m interested in giving my business to  charity, but I still need income from it. Is there  a solution for me? 

   1. Absolutely! Through a life income gift, you can give all or a portion of your business to ministry, take an immediate tax deduction and receive steady, ongoing payments for life. 

      If you have questions or want to learn more please reach out to  CRCNA's Advancement team at [email protected] or 616-224-5885

In the USA our ministry partner is  The Barnabas Foundation:  BarnabasFoundation.org call 888.448.3040

In Canada our ministry partner is Christian Stewardship Services. Please visit their site https://csservices.ca/ 

*Names and personal details changed