Honoring Our Past… Securing Our Future
Capital Campaign Phase II
As we begin this Advent season, we are reminded of the most incredible gift the world has ever known – the birth of Jesus, given to us by God the Father. Perhaps this is where the beautiful tradition of gift-giving at this time of year originated.
There are many worthy recipients of our generosity — medical research, educational and cultural organizations, caring for the less fortunate and, of course, St. John’s. During this season of giving, please consider contributing a new or additional gift to our capital campaign. You will help pay the remaining balance on our renovations’ loan and reduce the total amount we will owe by decreasing the interest we pay each month – currently approximately $2,000.
In lieu of a cash contribution, you might be able to take advantage of one of the following tax-saving options when making a charitable gift:
Gifts from an IRA
When you’re 70 ½ or older, instead of taking your Required Minimum Distribution (RMD), you may make what’s called a Qualified Charitable Distribution (QCD) directly to St. John’s. You are not entitled to a charitable deduction, but unlike an RMD, your donation won’t increase your taxable income. For example, if you are in a 20% tax bracket and take an RMD of $5,000, you will owe $1,000 in federal taxes. If instead you make a QCD to St. John’s, the church will receive the full $5,000 and you will not be taxed.
Gifts of appreciated property held more than one year
The tax code is very generous toward giving publicly traded stocks, mutual fund shares, bonds and other marketable property. Giving the asset to St. John’s eliminates potential capital gains taxes. St. John’s, as a tax-exempt entity, will realize the full market value, less transaction costs, at the time of sale.
If you choose one of the above methods to make a new or additional gift to the capital campaign, please contact Financial Secretary Gina Keiser, Pastor Amanda or Rosemary Coverly for a special contribution form. Otherwise a check to St. John’s clearly marked “Capital Campaign 2” will be credited appropriately. All gifts of any amount are greatly appreciated.