1. Brentwood Christian Church August 2016
Giving to the Church
Our purpose today is to share information about the church budget so we have a common understanding of what it is and how it aligns with the values of the church
Brentwood Christian Church
August 2016

2. Haven’t given to a church before Not in my budget Keep forgetting
Why not?
Haven’t given to a church before
Not in my budget
Keep forgetting
Don’t carry cash
Checkbook is at home
Not convenient
I have assets, not cash

3. An Approach That Works for Most
What do you want to give
What time of the month works best for your budget
Set up an automatic payment plan
Online bill pay
Automatic withdrawal through Vanco
Check in the mail

4. Weekly offering plates
The Basics
Weekly offering plates
Cash & Checks
The good
Simple and convenient
The not so good
Fall behind if not at Church

5. The Basics (continued)
Giving Electronically via Vanco
The good
Planned giving
Automatic- Never forgets
Safe
Align timing with family cash flow
The not so good
Needs to be set up

6. The Basics-Something new!
Text to give
Coming soon
The good
Quick and easy way to respond
Give any amount
Low administrative costs to BCC
How to do this?
One-time online setup
Cell number…Payment method…4 digit PIN

7. Become a member, join a committee
Short on Cash?
Volunteer at BCC
Advantages:
Your skills may be more helpful than your cash!
Become a member, join a committee
Sell household items and donate the proceeds
Ebay
Annual BCC garage sale!

8. Short on Cash?
If you perform unpaid work for BCC, you may be able to deduct some out of pocket expenses
Must be unreimbursed
Written acknowledgment from BCC
Submit list of expenses with receipts
Keep record of the time, date, place, and church activity associated with each expense
Document your mileage
Must be for volunteer services (not Sunday morning)
Unfortunately there is no deduction for the value of your service(s)

9. Alternative Giving-Donating via your IRA
Charitable giving via your IRA
“So I have this small retirement account that makes me take out cash every year that I don’t need. If I don’t take the cash, I am penalized. I can avoid the penalty by taking the cash, but then I get taxed on it!”
(RMD or Required Minimum Distribution rule for IRA)
Begins at Age 70.5
Charitable IRA Giving Made Permanent
Individuals 70½ and older can transfer up to $100,000 per year from their IRAs to a qualified charitable organization

10. Alternative Giving-Donating via your IRA
Advantages
These transfers count as part of your yearly required minimum distribution, but are not taxable to you.
Tax Benefits
The charitable distributions aren’t taxable and are not counted as extra income that could cost you itemized deductions, personal exemptions, or trigger more tax on your Social Security benefits.
Whether or not you itemize deductions, this planning technique should be considered by those age 70½ and older with an IRA.

11. Alternatives-Donating Appreciated Stock/Funds
Direct donation of stock or mutual fund to BCC
Alternative to cash/checks
Plan this with your Financial Advisor early December
Advantages
Full tax benefit of the fair value of the stock (assuming you held 12 months)
O’Reilly, Great Southern, US Bank, etc.
No taxable income to you
Rather than selling the stock and paying the tax
No taxable consequence to BCC

12. Alternatives-Giving through your Will or Trust
Making a gift through your Will or Trust
Flexible, easy to arrange, and can be changed with life circumstances
Many options
Gift of specific amount
Gift of specific property
Designate a specific percentage of your estate
Give the residue/remainder after other bequests
Highly recommend working with local attorney
Unless ultra wealthy, no tax benefit

13. Alternatives-Charitable Remainder Trusts
Wills and trusts are great, but I’m not dead yet!
What is a Charitable Remainder Trust?
Trust that provides income stream to you with remainder going to BCC.
How does a Charitable Remainder Trust work?
“Split” interest-giving vehicle that allows you to make contributions to the trust and be eligible for a partial tax deduction.
Name yourself (or someone else) to receive potential income stream for a term of years and name BCC to be beneficiary of donated assets

14. Alternatives-Charitable Remainder Trusts
Advantages
Preserve the value of highly appreciated assets:
For those with low basis or highly appreciated assets, including non-income-producing property, a CRT allows you to contribute that property to the trust and when the trust sells it is exempt from tax.
In other words, you preserve the full fair market value of those assets rather than reducing it by large capital gains allowing more money for the income beneficiary (you) and charitable beneficiary (BCC).

15. Alternatives-Charitable Remainder Trusts
Advantages
Income tax deductions:
With a CRT, you have the potential to take a partial income tax charitable deduction when you fund the trust, which is based on a calculation on the remainder distribution to the charitable beneficiary.
Tax exempt:
You may consider donating low-basis assets to the trust so that when sold, no income tax is generated to you and you eliminate the capital gains tax on the sale of the asset.
Complicated
Recommend a team of competent professionals

16. The Best Way to Give to BCC
Tell others about Brentwood!
Growing the church membership does not cost you anything
On average, each new giving unit = $1,450 annually

17. Tell Others About Brentwood!
Share the website
Share Facebook/Retweet Phil, Emily, and BCC feeds
Know your story and be comfortable telling it
The “why are you a member?” elevator speech
Intangibles” motivate people, have your examples ready
What is your goal in sharing your BCC experience?
Write it down, no seriously!