Year-End Giving

However you decide to support the ministries of First Redeemer Church, we are grateful for your continued partnership in spreading the gospel message and making a difference in our community and around the world.

The Business office is open Monday-Thursday from 9AM-5PM, and Friday from 9AM-12PM until December 24th.  We will be closed December 25 - January 1. If you have questions or need assistance, call our offices or email Michele Jarvis at [email protected]

Cash Gifts

Gifts of cash are popular and convenient to make because you can give these in person, online or by mail.  Cash gifts must be completed by December 31st to be tax deductible for the year.   Online donations received by midnight December 31st are considered received in the calendar year. Mail should be postmarked on or before December 31st.

New under the CARES Act

Under the CARES Act signed into law in March, those who use the larger standard deduction rather than itemizing may reduce their taxable income by up to $300 in cash contributions. Also new for 2020, those who itemize can eliminate income tax on up to 100% of their Adjusted Gross Income (AGI) in 2020 for cash gifts.

NonCash Gifts

Publicly traded stocks, mutual funds and other securities comprise the majority of noncash gifts.  Tax deductions for noncash assets can be based on their current value, not just the amount paid for them.  You may also avoid capital gains tax that would be owed on the sale of the property even if you don’t itemize your charitable gifts for tax purposes.  If you’ve owned securities for more than one year, your gift may be deductible at full value and can be used to eliminate tax on up to 30% of your AGI in the year of the gift.  If you are considering a gift of securities, allow enough time for your gift to be completed by December 31st.  Please check with us or your financial advisor for more information.

Giving Through Retirement Plans

Retirement assets may be a good choice for making current or future gifts depending on your age and future needs.

For those Age 70 ½ and Older: If you have an IRA, you can transfer up to $100,000 per year to qualified charitable interests; $200,000 per year for a couple who each has an IRA.  Those who qualify should carefully consider the additional benefits of making all or a portion of their charitable gifts directly from an IRA.  These gifts are particularly wise for those who may no longer itemize deductions for income tax purposes. Please check with us or your financial advisor for more information.
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