Charitable Gifts: Tax Advantaged Giving

We want to thank the congregation for the very generous financial support you have been providing the church during these challenging times. This support has truly been invaluable. We would also like to point out two ways that you may be able to give to the church that have special tax advantages. These methods could be used to fulfill your pledge to the church, for a gift to the church endowment fund, or for a special donation.

The first is for people 72 or older who have traditional IRAs and are required to take withdrawals each year. If you have the institution holding your IRA make a payment directly to the church, it can count towards your Required Minimum Distribution (RMD), but will not be considered taxable income to you. This method is especially advantageous if you take the standard deduction, rather than itemizing.

The second method is to donate appreciated stocks or other investments. You will avoid paying tax on the capital gain, and the gift will be deductible at the fair market value if you itemize deductions.

If you would like to take advantage of either of these methods, please consult your financial or tax advisor to make sure that you follow the IRS requirements. Thanks, once again, for your financial support of the church.

Finance Committee
Trustees of the Endowment