The Finance Team is pleased to announce two new ways to give to the Church as well as the other options to give here at Church of the Servant.
1 The first option is through our third-party vendor VANCO. VANCO has released a new app called GivePlus Church that is available in the Apple App Store or in Google Play. GIvePlus Church is user-friendly and allows you to give in three easy steps:
- Search “GivePlus Church” from your App Store (Apple) or Google Play (Android) to download the app
Once you have downloaded the app
- Turn on the location services for your phone
- Click on find churches near me
- Select your church
- And you can start giving
2 A second option is available to members with traditional IRAs that must take “required minimum distributions” (distributions beginning at age 70 ½). These members can make qualified charitable distributions directly from their IRA to the Church. These distributions–often referred to as QCDs–also provide a tax benefit to Church members, even if they don’t itemize their tax returns. A QCD is a direct transfer of your IRA funds to the Church, and all amounts transferred as a QCD do not count as taxable income.
In other words, members can select that their required minimum distributions (or a portion of those distributions) be paid directly to the Church as a QCD. This contribution will lower the member’s taxable income, resulting in a lower tax bill, which also satisfies the minimum distribution requirements. For members who file an itemized tax return, a QCD is also a deductible charitable contribution. If you are interested in alternative giving strategies and are over the age of 70 ½, you should talk to your financial advisors about whether a QCD strategy is right for you.
3 A third option is to donate appreciated stock or securities to COS. This form of giving is beneficial if the stock/securities have been held for more than one year. The donor will be able to deduct the fair market value (fmv) of the stock without having to recognize any gains from the stock. The Church then has the ability to sell the stock without being taxed on the gain because the Church is exempt from income tax. This option is important to discuss with your tax advisor.
Other options include: giving cash or check at Sunday Service, offering envelopes, automated ACH giving from your bank to COS’s bank, and online credit card giving via COS website which costs the church 3% for each transaction.