Many of our people make a yearly pledge to be given at regular times during the year. Pledging allows us to better plan for upcoming maintenance of our church and personnel.
Stock or mutual fund shares that have gained in value can be transferred to the church as is, rather than sold. You will receive an income tax deduction based on the full fair market value, and will never have to pay tax on the capital gain.
Certainly, most recognize the importance of making wills so that your money can be distributed in the way you wish. As you think through this process, we would ask that you might consider adding a bequest to the church.
A number of gifts are given each year, often when someone has received an unexpected bequest or some financial windfall and wish to share their blessing.
Life Insurance Policies
You may find that you have a life insurance policy that once protected your family against loss of its breadwinner, but which is no longer needed for that purpose. If the policy is given to the church, you will receive an income tax deduction for its cash surrender value.
Life Insurance, Retirement Benefits
You can also name the church as a primary beneficiary or contingent beneficiary if the primary beneficiaries fail to survive to the time of distribution for life insurance policies, annuity contracts and retirement plans (pension, 401K, IRA’s) all payout future funds in accordance with beneficiary designations. Such gifts will be free of estate tax. Indeed, if you intend to make gifts at death to both individuals and the church, and the question is which gifts to make from cash or property of your estate, and which by IRA or other plan declination, the church gift should be by the designation. Individuals receiving plan payments must pay income tax, whereas estate assets pass to them free of that tax. Plan gifts to the church are free of income tax.
Monetary gifts are frequently given in memory of a loved friend or family member who has passed, as an appreciation for that person’s life. These gifts have often been used for the purchase of large purchases, such as choir robes, or handbells or furniture.
Realty that has become a burden can be given to the church. A tax deduction is allowed for its appraised value, and capital gain tax will be avoided. Because of environmental and other concerns, it is necessary to discuss the possibility with the Trustees’ delegate, to secure advance acceptance, but appropriate parcels will be welcome gifts.
We invite you to consider the many ways that you can help continue God’s work here at
First United Presbyterian Church of Sodus.