A brochure designed to help explain how to give a charitable contribution.
Since charitable giving is how we finance the work, we want to be very clear in explaining how we receive your contributions. There are many unique and sometimes technical legal rules that apply to charitable contributions that are not well understood by most donors or church leaders. Unfamiliarity with these rules can lead to unfortunate consequences, including the IRS disallowing your charitable contribution deductions.
Includes suggested methods of giving:
- Gifts of cash
- Each gift of cash will be listed on your quarterly giving statement.
- Currency or check – Given in an offering envelope, this is the most popular way of giving.
- Credit card
- EFT – Automatic deduction from your bank.
- Online Giving
- Gifts of land or property
- Land or property
- Stocks or bonds
- Gifts of Supplies
There are six rules that must be followed in order for your contribution to be tax deductible. (IRS §170)
The gift must be:
- Cash or real property
- Claimed in the year in which they are delivered to the church.
- Have no conditions on payment
- Have no personal benefit to you, the donor
- Not in excess of the amounts allowed by law
- Substantiated BEFORE you FILE your taxes
Includes suggested procedures for:
- Designated Gifts
- Memorial Gifts