Ideas for Giving

Capital Campaign, Fall 2007

Here are seven ways charitable giving will meet your needs while providing welcome support for Saint Mark or other ministry organizations:

1. CASH GIFTS A cash gift in any amount is a convenient and popular way to show your faithful support for Saint Mark or other ministries. The full amount of your gift qualifies for a 2007 charitable income tax deduction - up to 50% of your adjusted gross income. Make certain check is dated 2007 and received or postmarked no later than December 31, 2007, to receive a deduction this year.

2. GIVING APPRECIATED PROPERTY If you own investments that have increased in value (stocks, bonds, real estate, or mutual funds), you can donate them to Saint Mark or other charity and take a charitable income tax deduction for the full fair market value and avoid declaring the capital gain of the assets as income. Many people consider this the equivalent of a "double deduction."

Notice how the Direct Gift option can result in Saint Mark or the charity receiving $120 more while costing you $30 less! To receive this special tax treatment, you must have owned the property for at least one year. Your gift can be deducted up to 30% of your adjusted gross income. Larger gifts may qualify for a carry-forward of amounts in excess of the 30%.

3. GIVING AND RETAINING INCOME FOR LIFE Did you know you can give to a charity while retaining income from the gift for the rest of your life? A charitable gift annuity or charitable remainder trust enables you to receive income that is flexible or guaranteed. Plus, there are significant tax advantages.

Let's assume you are 70 years old and wish to make a $10,000 gift to Saint Mark when you are gone, but need to receive income until then. You can make the gift now and receive several attractive benefits. First, you could receive income that exceeds what you are currently earning on the $10,000. At age 70 you would receive 6.7% of the $10,000 each year through a gift annuity ($670) - greater than most bonds or C.D.s. Next, a portion of the $670 annual annuity may be tax-free over your life expectancy. This can increase the taxable equivalent yield to over 8%. Finally, you will receive a 2007 charitable income tax deduction for the remainder portion of your gift. This deduction can save you $1,000 or more in federal income taxes. Making a life-income gift now offers all these advantages and also provides the satisfaction of knowing you have helped Saint Mark or a charitable organization in a significant way.

4. GIVING UNNEEDED LIFE INSURANCE Do you own an old life insurance policy that is no longer needed? Perhaps the purpose for the policy no longer exists (your children care grown or your mortgage is paid off) or your financial situation has changed and mitigates the need for the insurance. Consider giving the policy to Saint Mark or a charity and receive a charitable income tax deduction for the lesser of your cost basis or the replacement value. This is a great way to benefit a cause you support without reducing your checking account. If the value is more than you wish to donate, consider cashing in the policy and giving a lesser portion. Your gift may sufficiently reduce or eliminate any potential taxes due from the sale.

5. MEMORIAL GIFTS As you think of those special persons (a teacher, pastor, relative or other loved one) who have touched your life, you may want to do something "just right" to demonstrate that they are remembered. A memorial tribute can be a satisfying way to salute those whose memories continue to enrich our lives.

6. WISE TAX PLANNING Making extra gifts or accelerating future gifts into the 2007 tax year can enable an itemized income tax deduction. The standard deduction threshold for 2007 is $10,300 for joint filers and $5,150 for singles. If your total expenses are less than those amounts, you won't be able to deduct any charitable gifts. An extra year-end gift may add just enough to allow you to take advantage of your full itemized deduction. Many tax-wise donors accelerate contributions for the coming year to enable itemization at least every other year.

7. EXPRESSING YOUR FAITH Year-end is also the Christmas season. For many Christians this is an occasion to give in gratitude for God's greatest gift to us, Jesus Christ. In all our giving, let us never forget these familiar words, "For God so loved the world that he gave his only son..." Why not make a special effort to honor Him in your giving this Christmas season - it may be your most important gift you give? May God bless you as you make this expression of your faith.

For more information on ways to give, contact:

To qualify for a 2007 charitable income tax deduction, your gift must be received or postmarked by December 31, 2007. Complete your gift today and you will receive the tax benefits as well as the satisfaction of supporting your favorite ministries.

Click here to make your contribution online. 

For more information on giving opportunities or if you ever have questions about gifts or pldges, contact:

Deana Hilton, Business Administrator
Saint Mark United Methodist church
781 Peachtree Street NE
Atlanta, Georgia 30308
404.873.2636 x14
404.873.2639 fax
dhilton@stmarkumc.org