Is Your Company on the Matching Gifts List?
…and 3 other creative ways to impact the ATP ministry!
Giving is a blessing and now through December 31, a generous donor has committed to increase every gift to ATP by 50%! On that note, here are 4 ways to further The Kingdom through ATP you may not have considered:
Do you work for one of these companies? Many corporations match donations made by employees and matching gifts are often available to both current and past employees.
To find out if your company has a match program and if a gift to ATP is eligible, call your benefits department or click here to see the top 25 companies who match employee/retiree donations!
With the stock market at all-time highs, many owners of stock are leveraging stocks in their giving. Since highly valued stocks can balloon your income tax and hit you with steep capital gains, gifts of stock may provide relief at tax time as well as greater impact with your giving!
- Gifts of publicly traded stock held for more than a year are generally deductible at fair market value and are not subject to capital gains!
- If you currently hold highly valued stock, why not consider giving a gift of appreciated stock as a way to “elevate” your giving this year.
Give from your IRA!
Yes, you can give directly from your IRA! If you are 70 ½ years of age or older you may be faced with mandatory withdrawals. IRA gifts count as a withdrawal without the consequences of increasing your taxable income and/or increasing your income tax bracket.
- Did you know that IRAs left to non-spousal heirs are subject to estate and income taxes? This means IRA estate assets could be burdened with taxes in excess of 70%! All the more reason to use IRA assets to make gifts for ministry impact now!
- You can give a maximum $100K per year from your IRA and If married with separate IRAs, you and your spouse can each make gifts up to $100K per year!
- While you won’t receive a tax deduction for this gift, an IRA transfer to All Things Possible would fulfill some or all of the required minimum distribution without increasing your taxable income!
- IRA gifts must be made directly from your IRA to a nonprofit like All Things Possible to qualify. Giving is easy. Just direct your IRA custodian to make a transfer to your favorite ministry(s). Please direct gifts to All Things Possible, attention: Brad Miller at the address below.
- Gifts of appreciated property are generally deductible at fair market value up to 30% of adjusted gross income and capital gains are eliminated!
- Depending on the property given (jewelry, art, precious metals, autos) and how it will be used or sold, gifts may be eligible for a full fair market value deduction.
- While special rules apply to real estate, donors usually realize significant tax benefits while eliminating capital gains on the gift.
If you would like to discuss any of these giving opportunities, please contact:
Brad Miller – Chief Advancement Officer at All Things Possible
P.O. Box 63176
Colorado Springs, CO 80918
All Things Possible has been richly blessed this year to be a part of so many wonderful and positive outreach efforts. From “High-Risk Missions” to the Middle East, to prison and youth ministry work here at home, Victor and the entire ATP team would like to thank you for your prayers and support.