Cash & Checks
Most common way donations are received by the church.
The church will provide giving envelopes to members each quarter. Any gifts received by the church in these giving envelopes will be tracked and sent out in financial statements.
Stock & Mutual Funds
It is possible to transfer stocks and mutual funds directly to the church. If this is done with securities that have been held for more than one year, the donor will be able to deduct the full fair market value of the securities and avoid paying any capital gain tax. If, however, the securities are sold first and then the proceeds are given to the church, the donor will still have to pay capital gain taxes to the I.R.S. A little planning in this area can help you take full advantage of the tax benefits allowed by the government. The church finance office has information on how to easily transfer stocks and mutual funds from your account to the church’s account for the best tax advantage.
In general, gifts of real estate have the same tax benefits as giving appreciated securities. If the property has been held for more than one year, the donor can typically take an income tax deduction for the full market value and avoid capital gain tax on the appreciated portion of the property. It is also possible that other benefits can include savings in estate taxes and avoiding probate. The church financial office can help answer your questions on real estate transfers from your account to the church’s account for the best tax advantage.
Churches can benefit from life insurance policies. If the original purpose for a life insurance policy no longer exists, a donor can make the church the owner and beneficiary of the policy and receive a tax deduction. The deduction can be taken immediately and the amount of the contribution is typically the replacement value or cost basis of the policy.
Charitable gift annuities can be set up where the donor receives an immediate tax deduction on irrevocable gifts to the church, but will also receive fixed income payments from their gift for the rest of their life.
Wills, Bequests & Estate Planning
A Charitable gift can be given to the church through your will or other estate plans. Such a gift can be used to honor the Lord from the financial increase He has given you during your lifetime (Proverbs 3.9-10) and to benefit your church in wonderful ways. This type of gift can also be helpful to appropriately avoid estate taxes. If you choose to include the church in your will or estate plan, please let your attorney know the church’s name and address. If you have already included the church in your will, please let us know so that we can say “thank you.” Don’t forget that qualified retirement plans will be considered part of your estate at death, but if handled correctly they can also be deductible from the estate as charitable gifts.
Contact our office if you have questions about giving at RHBC.
How do I give to RHBC?