Creative and Helpful Ways to Give

With the recent rise in inflation and interest rates, people are getting creative about supporting ministries they care about. There might be less cash leftover after groceries are bought these days, so some people opt to donate stocks. Donating stocks directly to one’s church makes an immediate impact on the church’s mission while also saving cash for current living needs. It also allows people to benefit during tax season: if you itemize deductions, you can take a charitable deduction for the entire donation and avoid paying the capital gains tax—allowing you to give and save at the same time. Just call our administrative assistant Debbie Sprinkle in the church office, and she can walk you through the process.

Another tax-savvy way to support the work of churches is through IRA gifts. Anyone who is 70 ½ or older can donate directly from their IRA accounts. This immediately helps support the church and helps save money on your taxes in the process. For anyone who is 72 or older, IRA gifts also help you meet the Required Minimum Distribution (RMD)—the legal amount you must withdraw from your retirement assets. (The Cooperative Baptist Foundation has a helpful online tool here for calculating one’s RMD, learning more about potential savings, and creating a gift that will have an eternal impact.)