RAISE UP, REACH OUT
God has blessed each of us in different ways, both spiritually and materially. We recognize that every member cannot and should not give the same dollar amount. It is not equal giving but equal sacrifice that matters. The Raise Up, Reach Out Campaign runs for the next three years and consistent giving will compound into a dramatic impact.
GIFTS OTHER THAN CASH
WHAT KIND OF ASSETS SHOULD I GIVE?
Appreciated investment property held more than one year, such as publicly traded stocks, mutual fund shares, bonds, real estate, collectables and other such readily marketable property have tremendous tax advantages. Personal property such as automobiles, jewelry and other items may also be given. There may be no capital gains tax benefits to these gifts, but the financial and spiritual benefits can be tremendous.
WHY GIVE GIFTS OTHER THAN CASH?
The tax code is very generous toward this form of giving. Giving the asset to the church, then letting the church sell eliminates potential capital gains taxes and can increase the after tax proceeds.
HOW DOES THE TAX BENEFIT WORK?
Itemized Deduction | The individual or business is allowed to include 100% of the market value of most such assets as charitable contributions for tax purposes if held more than one year. Capital Gains | The transfer of property does not generate a capital gains tax. The church, as a taxexempt entity, will realize the full market value, less transaction costs, at the time of sale without paying capital gains taxes.
WHAT IF I SELL FIRST THEN GIVE THE CASH?
You may be subject to capital gains taxes thereby reducing the after tax proceeds from the sale.
HOW DO I TRANSFER THESE GIFTS?
For stocks, mutual fund shares and bonds, if held “in street name”...
1. Contact the church office. We will provide you with the transfer instructions.
2. Contact your broker and request the transfer. You will be provided with stock powers or transfer papers to complete the transfer.
When you have completed the transfer, please notify the church office at (919) 362-4310. We can answer any questions you might have.
CASH FLOW GIFTS:
A person can give significantly by giving smaller amounts at higher frequencies. Weekly, semi-monthly, or monthly giving allows large gifts to be reached in smaller steps. You may want to take advantage of the simplicity of electronic funds transfers for this giving option.
DIVERTED FUNDS GIFTS:
Freeing up funds which are currently going to other areas of spending allows a person to increase giving to God’s work. Diverting funds from entertainment, dining out, dues, subscriptions, gifts, allowances, utilities, or transportation, offers lifestyle adjustments which impact one’s giving.
The delaying of purchases allows a person to significantly increase giving. The acquisition of major items such as automobiles, clothing, or trips, when postponed, allows substantial giving opportunities.
INCOME PRODUCING ASSETS:
Interest income, payments from rental properties or monies from other income producing assets provide a source for increased giving.
SALE OF ASSETS:
Sale of major assets, such as a house, car, land, or business provides available income for giving.
RAISES / BONUSES:
Dedicating one’s forthcoming raises and bonuses is a creative method people have used to increase giving.
FREEDOM FROM DEBT:
As a person looks ahead into the next three years, he or she may discover that debt obligations will be fulfilled. This frees up revenue for additional giving.
UNIQUE SKILLS INCOME:
Some people have marketable hobbies or skills which enable them to give from those new profits.
CHARITABLE GIVINGS RESOURCES:
Reviewing all of one’s charitable donations in light of their impact on the kingdom of God affords a resource for significant giving.
SAVINGS AND ANNUITIES:
Savings for special projects, retirement or a “rainy day” may offer a resource for increased giving. Often we realize that a portion of our savings may safely be given to the work of God’s Kingdom through our church.
Those who have used their business as a source for giving have made significant donations.
ADDITIONAL WORK INCOME:
Taking a second job or part-time job or coming out of retirement are successful strategies people have used to increase giving.