YEAR-END GIVING

YOUR DECEMBER & YEAR-END GIFTS ARE IMPORTANT TO FUEL THE MISSION OF OUR CHURCH.

Thank you for help at this important time!

In the last year we have seen God do some amazing things in the life of our church family. Our church is alive and meeting both inside our building and online with incredible quality ministry for all ages. Eastridge has a strong history of YEAR END GIVING. Your faith-filled gifts help us close the year strong and fuel the start of the new year. We believe God has breakthrough for His Church in 2024 and now is the time to pray and sow to the future. Thank you for loving God and the work of our church!

If you’ve felt God leading you to make a major gift to Eastridge, this may be the perfect timing for you. If you have questions, please call our accounting office at 425-270-6300 or email them here. (As always, consult your own tax accountant about your personal tax situation.) Thank you for your love, faith and generosity. We are praying for God to bless you and help you as we minister together! Click here to see our safe and secure online giving options. 

HOW TO MAXIMIZE YOUR YEAR-END GIVING

GIFTS OF CASH

The most popular way to make a gift is with cash, check, or credit card. To take a deduction for the gift on your 2023 tax return, your gift must be postmarked or received by the church on or before December 31, 2023. You can also donate by going online here, or by using our Eastridge mobile app. You can give by text, too – just text “Eastridge” to 77977 and a link to give to Eastridge will be sent to your phone.

CORPORATE MATCH

Many large and local corporations offer employee charitable giving match programs. Check with your company to see if they offer corporate matching, thus doubling your donation to the church. If interested, please contact our accounting office at accountingoffice@eastridgetoday.com for further instructions.

QUALIFIED IRA DISTRIBUTION

Qualified IRA Distributions for those age 70-1/2 or over: Generally, a qualified charitable distribution (QCD) is an otherwise taxable distribution from an IRA (other than an ongoing SEP or SIMPLE IRA) owned by an individual who is age 70½ or over that is paid directly from the IRA to a qualified charity. If you are age 72 or older, IRS rules require you to take a RMD (required minimum distribution) each year from your tax-deferred retirement accounts. Amounts distributed as a QCD can be counted toward satisfying your RMD for the year, up to $100,000. See Publication 590-B for additional information.

GIFTS OF NON-CASH ASSETS

You can also donate certain appreciated assets to the church, claiming a fair market value charitable deduction while recognizing none of the capital gain. Examples include:

Stocks/bonds/mutual funds: You can donate to the church instead of selling it. Have your investment broker contact our accounting office at accountingoffice@eastridgetoday.com for instructions to transfer the securities to our account.

Real Estate: This is especially beneficial for appreciated assets. But if the property is worth less now than when purchased, you may want to donate the proceeds from the sale to the church and take a capital loss on the asset sale.

Income Producing Business or Real Estate: You can donate income from these assets, and thus reduce your taxable income. We partner with National Christian Foundation (NCF), a reputable nonprofit organization that manages these types of gifts. NCF would work with you to evaluate your opportunities.

GIVING LIMITS

Charitable contributions are deductible for donors who itemize deductions when filing their annual tax returns. 2023 deduction limits for gifts to public charities, including donor-advised funds, are 30% of adjusted gross income (AGI) for contributions of non-cash assets, if the assets were held more than one year, and 60% of AGI for contributions of cash. Contribution amounts in excess of these deduction limits may be carried over up to five subsequent tax years.

Important Note:  Please consult your tax adviser before making any major decisions that may have an impact on your tax liability. Also, donating these non-cash gifts generally take longer to arrange, so notify your investment advisor right away to make sure your gift can qualify as a 2023 transaction for tax purposes.

DISCLOSURE

The purpose of this publication is only to make you aware of the possibilities that may exist for you to make a donation to Eastridge Church. This is not to be taken as advice for financial or tax purposes.