Special Projects

SPECIAL PROJECTS   NEED   RAISED   REMAINING

Kitchen Ceiling

 

  $12,000    $5,000   $7,000

Kitchen Vent Hood and Make-Up Air System

 

  $48,000       $48,000

Generations Scholarship

 

  $100,000    $80,000   $20,000

Seminary Building Renovation Project

SeminaryHall

As our president, Dr. Jim Tillotson, has traveled across America during the first year of his presidency at Faith, he has been surprised by how many churches are without a pastor. As he has spoken with presidents at sister seminaries, they also report more churches asking for pastors than they have graduates. Jesus’ words in Matthew 9:37 are certainly as true today as when He spoke them: “The harvest truly is plentiful, but the laborers are few.”

Faith Baptist Theological Seminary specializes in training pastors, but we have a great need in our seminary. That need is a seminary building. Our students currently meet in classrooms surrounding our dining hall, which is not an ideal situation. Having a seminary building will help us train more pastors and train them more effectively.

Those of you familiar with Faith remember the Music Building across the street from our campus. The building is structurally sound but in bad shape. We have moved the Music Department out of the building and have decided to convert that building into a seminary building.

The total cost to remodel the building and reconfigure it to meet the needs of the seminary will be $350,000. We are thrilled to announce to you that two donors have stepped forward who will match the funds we raise for this project up to $150,000! That means every dollar you give will be doubled.

We are writing to ask you to give to this important project. We cannot think of another investment that will continually produce more pastors for churches than this one will.

No gift is too small. Whatever you give will be matched. If you give $10, your gift becomes $20. If you give $100, your gift becomes $200.

We want to raise $150,000 by January 31. Any contribution is tax-deductible. If you send your gift by December 31, you can have the tax benefit for this year. 

God has blessed us with seminary students who want to make a difference. Thank you for your investment in their training to help them take the Word to the World.

 If you would like to make a donation to our Seminary Building Renovation Project, you may so by calling our Advancement Department at 1.800.409.3305 or you may give online at faith.edu.

We are utilizing volunteer help for a lot of the renovation work. We invite you to help us and to bring people with you from your church. Email Cody Huber if you are able to help. Volunteer help is the only way we can complete this project on budget.


For more information about giving, contact the This email address is being protected from spambots. You need JavaScript enabled to view it. at 1.800.409.3305. You may also request your free copy of our newest publication Planning Your Legacy of Faith.

Giving for Income

Charitable Gift Annuities
A gift annuity is an irrevocable contract between a donor and Faith that provides a fixed income for the life of the donor or other designated beneficiary. Gift annuities are regulated by the IRS and some state governments.

Fixed interest rates are based on the annuitant's age(s) at the time of the gift. Payments are made quarterly, semiannually, or annually, and a portion of each payment is tax free.

Gift annuities create an immediate charitable income tax deduction for a portion of the gift. If the gift is funded by appreciated assets, a portion of the capital gains tax is excluded and the remainder may be reported over a number of years.

Gift annuities may be based on one or two lives (annuitants).

Payments usually begin immediately, but they can also be postponed a number of years. These deferred annuities often have higher interest rates.

Revocable Gifts
Revocable gifts go by several names: revocable gifts, withdrawable gifts, and deposit agreements. Very simply, they are an agreement whereby the donor allows Faith to use the donor's money until the donor wishes to have it back. As long as Faith has the money, interest is paid to the donor. (The donor may also waive the interest).

Interest rates are variable and are usually higher than those available commercially. Please contact us for current rates. Faith will issue a 1099INT for interest income.

The donor can withdraw the funds with thirty days written notice.

Upon the death of the donor(s), funds remaining on deposit are transferred to Faith, thus avoiding probate.

Pooled Income Fund
Faith's Pooled Income Fund is an investment tool that combines your gift with the gifts of many other donors. The gifts are professionally managed, and each year you will receive a proportionate amount of the fund's income.

A portion of your irrevocable gift can be eligible for a charitable income tax deduction. When you fund your gift through appreciated securities, you can also avoid capital gains taxes.

The fund will provide you with income for life:and the life of a beneficiary if you so choose. Upon the death of the beneficiaries, a proportionate amount of the fund can be used by Faith to provide for the education of its students.

Charitable Remainder Trusts
A charitable remainder unitrust is like a combination of a gift and an investment plan. You place assets in trust, and you (and/or another beneficiary) receive lifetime income from them:then Faith receives the remainder. With a unitrust, the amount you receive as income is a set percentage of the value of the trust assets, redetermined annually.

You also have the option of choosing one of five variations of unitrusts. A unitrust with a net income plus makeup provision, for example, pays only the actual trust yield, even if it is below the stated percentage. Then in later years, when the beneficiary needs more income, the trustee can invest the assets to generate a higher return and make up earlier deficiencies.

This option is excellent for devising a supplemental retirement plan. We can provide you with more details.

For more information, contact the Faith Advancement Department at 1-800-409-3305 or at This email address is being protected from spambots. You need JavaScript enabled to view it. . Request your free copy of Planning Your Legacy of Faith.

Giving for the Future

Wills
Many people have had a part in advancing the global mission of Faith through their testamentary gifts. You can do the same by update your will to include Faith, either with a specific dollar amount, a percentage of your estate, or a specific asset to be given.

Below is an example of how such a bequest might read:

I give, devise, and bequeath to Faith Baptist Bible College and Theological Seminary, Ankeny, Iowa...
... the sum of $___
... ___% of my estate
... the following property:
... the rest, residue and remainder of my estate.
The property comprising this gift is to be used to further the charitable purposes of Faith Baptist Bible College and Theological Seminary.

Letting us know in advance of your estate plans can help us plan for the future, especially if you wish your gift to fund a specific project.

Trusts
Trusts are useful documents to accomplish a variety of stewardship goals. Giving through trusts may provide tax savings, especially if the trust is an irrevocable charitable remainder trust.

A trust is a private document, whereas a will belongs to public domain. A will can be contested after you have passed away, but a trust cannot be contested. A trust also avoids the delays and expenses of probate.

A trust can be revocable or irrevocable. A trust can be established during your lifetime (inter vivos) or through a will (testamentary).

A trust is also a good mechanism for managing and transferring assets before or after your death. Faith can work with you and an attorney to establish a trust that benefits you, your family, and the ministry of Faith.

Life Insurance
When you first obtained your life insurance policies, you obviously felt a need for them. Perhaps you do not need all that coverage today, yet you still have those policies. If you are thinking about a contribution to Faith, a gift of your life insurance could be a sensible, as well as generous, course of action.

If you make Faith the owner of the policy, you will normally receive an income tax deduction for the policy's fair market value or cost basis, if lower, on the date of the gift.

If you name Faith as beneficiary of the policy (and retain ownership), you will receive an estate tax deduction for the insurance proceeds.

You can also use life insurance to replace the value of a different gift. For example, you could donate stock to Faith because of the tax advantages and purchase life insurance to benefit your heirs in the amount they would have received had you left them the stock.

Retirement Funds
The most expensive way to pass on assets to family members is by making them the beneficiaries of a retirement account. Deferred income taxes, estate taxes, and gift taxes can consume up to 85% of retirement plan assets.

A more efficient way is to give other assets to loved ones and to make Faith the beneficiary of your 401k, 403b, IRA, or other tax-sheltered accounts. You can also make Faith a secondary beneficiary, so the assets are only passed on to Faith if your primary beneficiary (e.g., your spouse) is no longer living.

By making Faith the beneficiary, you retirement assets will avoid excessive taxes and probate.

Life Estate Agreements
This tool is ideal for donors who would like to see their real estate put to good use after they pass away but who need to use their home, vacation home, or farm during the remainder of their lifetime.

Life Estates transfer the ownership (or partial ownership) of real property to Faith, allowing the donor to reduce capital gains and estate taxes.

The donor retains the use of the property for the remainder of his or her life (and/or the life of another person, usually a spouse). After the donor passes away, the property is used to further the ministry of Faith.

Charitable Lead Trusts
Are you concerned about the possibility of the government taking a huge part of the assets you were planning to leave your heirs?

A charitable lead trust provides you a strategy to pass assets to your family with significant estate tax savings while making a gift to Faith. After we receive income from assets in the trust for a period of years, the principal goes to your family with estate or gift taxes usually reduced or even eliminated.

The lead trust is an exceptional way to transfer property to your children or other heirs at minimal tax cost.

It is an ideal instrument if you are willing to forgo investment income on an asset but do not want to have estate taxes reduce the principal passed to your heirs. With a lead trust, you carry out your philanthropic plans over the coming years and save on taxes.

For more information, contact the Faith Advancement Department at 1-800-409-3305 or at This email address is being protected from spambots. You need JavaScript enabled to view it. . Request your free copy of Planning Your Legacy of Faith.

Current Projects at Faith

Alumni and friends of Faith often want to know some of the current projects at Faith toward which they might give. We add new projects as we complete past projects, so check back to see what new projects we have added.

alumni project smaller for web

Our current project is adding lights to our sand volleyball courts. Click here to learn more!

If you would like to contribute to any of our current projects, please use the information below.

• Mail
Send checks, money orders, or credit card information to
FBBC&TS
Attn: Advancement
1900 NW Fourth Street
Ankeny, IA 50023

• Phone
Call toll-free 1-800-409-3305 with credit card information.

• Online
You may make secure donations to Faith online. Click here to make your donation.

News

Seminary Building Renovation Update

Read about the latest updates about our new seminary building from one of our student writers. Read More

Kimberly Tanner Joins Faith Faculty

Faith is pleased to welcome Miss Kim Tanner back to our faculty.  Read More

Faith Welcomes Jordan Sauser

Jordan Sauser has joined the Faith Family as the director of financial aid and coach of the men's soccer and track and field teams. Read More

Major Renovation Project

We invite church work teams to help us renovate the former music building into our seminary building.  Read More