Q. What is the difference between the Capital Campaign that occurs every three years and the Annual Operating Campaign?
A. The Beyond Capital Campaign sought three-year pledges to pay the mortgage on the church building as well as fund critical capital maintenance needs. Thanks to your generosity we plan to retire the mortgage on our building in June of 2021.
The Annual Operating Campaign is our annual campaign to cover operating expenses in 2020, including our staff salaries, day-to-day facility maintenance, ministry programming, outreach, worship, and more!
Q. With the new tax laws, I am considering combining years, thus prepaying my pledge. How would that work?
A. When pledges are prepaid, the donor receives credit for the entire donation in the tax year in which the church receives the gift. Church Finance temporarily restricts those funds until the year the donor designated for their use.
Q. How does a Qualified Charitable Distribution (QCD) work? Why was my gift to the church not tax deductible?
A. Those who have already reached the age of 70 ½ are allowed to make a QCD from an IRA. A QCD satisfies the Required Minimum Distribution (RMD) that also begins at 70 ½. When a donor makes a direct donation (QCD) from an IRA to a qualified charity like the church, the donor doesn’t need to claim that amount as regular income. Since the funds were never taxed as income one cannot claim a tax deduction for the donation. The check must be made payable to the church to qualify as a QCD. Please consult your tax advisor for other details and limitations.
Q. What are the payment options for my pledge?
A. Almost 40% of church donors use a form of automatic giving like bank drafts, electronic payments, or “text to give.” Many donors also simply write checks. Of course, cash works, but to receive an income tax credit for a charitable contribution, the donation must be identifiable as to its donor. A number of donors also transfer stock directly to the church. For details or questions, please contact finance.