A businessman established a Charitable Remainder Trust (CRT) with the PCA Foundation. This enabled him to take an income tax deduction for a portion of the gift and to avoid capital gains taxes on the stocks he used to fund the CRT. In addition, he received a lifetime income from the CRT.
The businessman had a real desire to support the PCA's Ministerial Relief Fund so he named them in the CRT agreement as the charitable beneficiary. When he passed into the presence of his Lord, the CRT terminated and a significant gift was made to the Ministerial Relief Fund, which assists PCA Pastors, their widows and families in times of financial need.
