Grace Heartland Church offers several different types of giving options in order to make your sacrifice of finances more convenient for you. Each of these easy methods allow you to give to the general fund or the building fund of Grace Heartland Church. All tithes and offerings will be used where best needed to support and further God’s kingdom. At Grace Heartland Church, we pray that each person that gives will give in the spirit that is pleasing to the Lord, no matter which option they choose.
In addition to the methods above we also accept :
We do accept stock gifts at Grace Heartland Church. Giving stock you have owned more than one year, and which has gone up in value, can provide a double tax benefit. The increase in value is called appreciation and can result in capital gain income tax when the stock is sold. The amount taxable is typically the sale price less than your basis, which usually is what you paid for it. In other words, if you paid $2,000 for 100 shares of stock, and later sold it for $4,000, you would pay tax on the $2,000 increase in value. However, making a charitable gift of the stock can help limit your tax liability. Additionally, the amount you can deduct on your income tax return is the entire fair market value of the stock at the time of the gift, up to 30% of your adjusted gross income of the year. The five-year carry forward of any unused deduction also applies. In the above example, the tax deduction would be $4,000, the value of the stock, rather than $2,000, the amount paid. This is in addition to the above mentioned tax liability. Please contact Marty E. Fulkerson at 270-769-1808 for assistance in making a gift of stock. You should consult your tax advisor to ensure it makes sense for you.
IRA Qualified Charitable Distributions
If you are over age 70 1/2, you may make part or all of your IRA required minimum distribution as a qualified charitable distribution. A qualified charitable distribution is generally a nontaxable distribution made directly by the trustee of your IRA to an organization eligible to receive tax deductible contributions. Please consult your tax advisor to be sure it makes sense for you.
Planning your estate allows your desires to be carried out when this life ends, so it makes sense to have a will or revocable living trust. It is one of those things that must be done to have your “house in order”. 2 Kings 20:1 Planning is not just for the terminally ill or the elderly because life and health are unpredictable. Consider a generous gift that will recognize the importance of Christian stewardship and provide funds for the Kingdom of God. Your will or trust can be a final statement and testimony of faith. A legacy of generosity truly recognizes “every good and perfect gift is from above, coming down from the Father of the heavenly lights.” James 1:17
Life insurance policies that are no longer needed sometimes make excellent charitable gifts. It is relatively simple and usually only requires signing a few forms your insurance agent can provide. By signing these forms, you make Grace Heartland Church the owner and/or beneficiary for the policy. If GHC is made owner, and if you continue to pay premiums for the policy, you may be able to deduct the amount of premiums paid each year. Further, if the policy is whole life, meaning it has cash value, your tax deduction may be the amount of this value on the date of the gift. Naming the church as beneficiary for part or all of a life insurance policy is a relatively easy way to make a gift as part of your estate plan.
IRA or 401(k) Accounts
Qualified retirement plans, such as traditional IRA accounts or 401(k) plans, are “pretax” dollars. This means the individual who receives them upon your death may have to pay income taxes when the money is withdrawn. There are IRS rules about minimum required distributions. However, you have the option of naming Grace Heartland Church or other qualified organizations as beneficiary of all or a portion of these accounts. Your estate will avoid paying income taxes (called “income in respect of decedent”), and possibly estate (death) taxes. If this estate planning strategy fits in your overall goals for stewardship, it may be an excellent choice. Your tax advisor will be able to help you decide.
For more information, contact Marty E. Fulkerson at 270-769-1808.
Real estate gifts at the request of the donor may also be accepted, depending on the circumstances. You should also consult with your tax advisor to make sure this is the right choice for you. For more information, contact Marty E. Fulkerson at 270-769-1808.
If you are unsure as to which options are the best for your situation, please consult your accountant or tax advisor. For more information from Grace Heartland Church, call the church office at 270-769-1808 or email us at firstname.lastname@example.org