Growing In Grace



Giving to St. Mark's
Most often, when we think of making gifts to St. Mark’s and others, we naturally think of giving from our income. However, as we prayerfully consider sacrificial giving to help St. Mark’s during this campaign, we have an opportunity to reflect on other sources for giving as well. Often these other forms of gifts offer additional benefits to the donor.

Types of Outright Gifts
  • Publicly Traded Securities
  • Closely-Held Stock
  • Personal Property
  • Real Estate
  • Paid-Up Insurance Policies
  • Charitable Lead Trusts
  • Gifts-In-Kind
  • Deferred Gifts


Publicly Traded Securities
Long-term appreciated capital gain property (such as stock) is one of the most common ways to make additional capital gifts. These gifts are tax deductible at the full fair-market value subject to some limitations. However, the gain is not subject to taxation to the donor or the church.

Example:
Donor paid $2,000 for stock now worth $10,000. If donor sells stock, he/she pays $1,600 in capital gains taxes and keeps $8,400. If donor gives stock, to church neither donor nor the church pays taxes and donor receives $10,000 tax deduction.

Closely-Held Stock
Gifts of closely-held stock are virtually the same as publicly traded securities, but may carry additional benefits to the donor. Along with the income tax deduction, gifting closely held stock is a good way of reducing company retained earnings and transferring ownership of the company to children or grandchildren.

Personal Property
One can make a gift of personal property to St. Mark’s to help support the campaign. These items can include antiques, works of art, jewelry, coin or stamp collections, as well as other valuable assets. However, these items are generally tax deductible at their base cost and not their fair-market value.

Appreciated Real Estate
A gift of real estate will generate a tax deduction for the full appraised fair-market value. Like securities, the capital gain is not taxable to the donor or the church. Sometimes a donor has a parcel of real estate that they are willing to gift, but they want to retain some of its value for themselves. A bargain sale is a good way to make a gift to the church and keep some of the value.

Example:
Donor has a parcel of real estate worth $100,000. He/she sells the property to the church for $50,000. The donor has made a charitable gift of $50,000 to the church and received cash for him/herself. The tax deduction is equal to the difference between the selling price and the appraised price.

Paid-up Insurance Policies
Many times, families have paid-up life insurance policies that were originally taken out to cover mortgage expenses or pay for college for a child. If these reasons are no longer at issue, a paid-up insurance policy can be a wonderful way to make a gift to the church. The tax deduction is equal to the replacement value or the donor’s cost in the policy, whichever is less. The church will have the option of retaining the policy or taking the current cash surrender value.

Charitable Lead Trusts
A lead trust can be established to provide income to the church for a specified term of years. After the term of years, the assets in the trust revert back to the donor or to individual(s) designated by the donor. Cash, securities and some types of real estate can be used to fund the trust. There is no income tax deduction for this type of gift, but there is an estate tax savings.

Gifts-in-Kind
A gift-in-kind is a product or service that you can give because of your work experience or related business.

Examples:
Site Development: grading, drainage, paving, landscaping, etc.
Construction Materials: concrete, lumber, bricks, roofing, paint, etc.
Building Materials: windows, doors, plumbing, lighting, flooring, etc.

Deferred Gifts
Deferred gifts are gifts that are received some time in the future by the church. During that time the donor retains an interest in the assets.
 

  • Bequests
  • Estate Notes
  • Charitable Remainder Trusts
  • Charitable Gift Annuities
  • “Pay on Death” Accounts
  • IRA Beneficiary
  • Life Insurance
Click here to download Capital Campaign Pledge Card.
 
Growing in Grace Question & Answers
    What was the total cost of the new building?
  • The final total cost for the new building as of December 2014 was a little over $2.3 million.
    What short and long term debt obligations does St. Marks have?
  • St. Mark’s  finished paying off the purchase of the land two years ago.  Since all the money that was pledged during the Growing in Grace capital campaign has not yet been received and the cost of the building exceeded the amount raised in the campaign, it was necessary to secure a bridge loan to complete the payments to the contractor.  In 2016, longer term financing will be arranged if the gap between the capital campaign and the cost of the building still remain.
    How large will the final mortgage be?
  • There may be some additional expenses related to the completion of the building, the Growing in Grace capital campaign and because some pledges have not been completely paid.  We do not know what the final mortgage amount will be.
    How much money was pledged during the campaign and how much of that has been received?
  • A total of $520,510 was pledged and as of December 31, 2014, $432,239 or (83%) of the total had been received.
    What does the Bible have to say about my personal financial stewardship?
  • As King David said in 1 Chronicles 29:14: “Everything comes from you, Lord, and we have given you only what comes from your hand.”  We are called to be stewards of 100% of all that we have; and God asks us to return only a small portion to help with His holy work.
    What if I cannot give right now? Is that okay?
  • We always understand when circumstance affects giving, but we encourage you to review the “Ideas for Giving” information to help you discover different ways to give.
    How long is my commitment?
  • The financial commitment for Growing in Grace is for three years.  It can be paid weekly, monthly, quarterly, annually, lump sum or, as mentioned above, in all manner of different ways.
    Is money a spiritual issue?
  • Our campaign title says it all: Growing in Grace. That is because there is probably no single issue more challenging in our day than understanding what God expects of us.  Depending on how we use and steward our money, it can be a blessing.  The Bible teaches that with the proper use of money, one can be content, generous, blessed, and cheerful.  These are the components that make up true joy in our lives and lead us to grow in grace.
    How will I know what to give?
  • There is only one way to discern what your gift should be – prayer. All we ask is that you open your heart to the possibilities. And, don’t be surprised at what you and God can dream about, together. So, ponder the gratitude you have for this life on earth, be open to the journey of prayer where He will reveal a vision of your help, and finally, continue to live in faith trusting where God will lead you.